reglab/housing_qa huggingface dataset:
CO Code § 12-10-401 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 4 - Brokerage Relationships|§ 12-10-401. Legislative Declaration

  The general assembly finds, determines, and declares that the public will best be served through a better understanding of the public's legal and working relationships with real estate brokers and by being able to engage any such real estate broker on terms and under conditions that the public and the real estate broker find acceptable. This includes engaging a broker as a single agent or transaction-broker. Individual members of the public should not be exposed to liability for acts or omissions of real estate brokers that have not been approved, directed, or ratified by the individuals. Further, the public should be advised of the general duties, obligations, and responsibilities of the real estate broker they engage.    This part 4 is enacted to govern the relationships between real estate brokers and sellers, landlords, buyers, and tenants in real estate transactions.     History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 643, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-801 as it existed prior to 2019.   ANNOTATION   Annotator's note. The following annotations include cases decided under former provisions similar to this section.   With this statute, Colorado was the first state to create a non-agent real estate broker. Sussman v. Stoner, 143 F. Supp. 2d 1232 (D. Colo. 2001 ).   By its terms, the statute does not impose upon a transaction-broker a duty to keep track of land or water values once land is under contract, or a duty to inform a seller that his land or water is worth more than the asking price. Sussman v. Stoner, 143 F. Supp. 2d 1232 (D. Colo. 2001 ).   Nor does it require that a transaction-broker advise a party that it is not in his or her best interest to accept a given offer. Such requirements are in conflict with the plain terms of the statute. Sussman v. Stoner, 143 F. Supp. 2d 1232 (D. Colo. 2001 ).   Section 12-61-807(1) clearly states that the transaction-broker is not an agent for either party, nor, according § 12-61-802(6) , an advocate for the interests of any party to the transaction. Sussman v. Stoner, 143 F. Supp. 2d 1232 (D. Colo. 2001 ); Hoff & Leigh, Inc. v. Byler, 62 P.3d 1077 (Colo. App. 2002).   The statute also specifically forbids the broker from disclosing certain information that would give either side a negotiation advantage. Consequently, the broker may not disclose that a buyer is willing to accept less than stated, that a seller is willing to pay more than offered, motivating factors for the purchase or sale, or financing terms which a party might accept. Sussman v. Stoner, 143 F. Supp. 2d 1232 (D. Colo. 2001 ).   A broker who is allegedly fired for complying with disclosure rules can bring a claim against an employer for wrongful termination in violation of public policy. Mullin v. Hyatt Residential Group, Inc., 82 F. Supp. 3d 1248 (D. Colo. 2015 ).
CO Code § 12-10-406 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 4 - Brokerage Relationships|§ 12-10-406. Dual Agent

 A broker shall not establish dual agency with any seller, landlord, buyer, or tenant.   History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 650, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-806 as it existed prior to 2019.
CO Code § 12-10-410 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 4 - Brokerage Relationships|§ 12-10-410. Compensation

  In any real estate transaction, the broker's compensation may be paid by the seller, the buyer, the landlord, the tenant, a third party, or by the sharing or splitting of a commission or compensation between brokers.    Payment of compensation shall not be construed to establish an agency relationship between the broker and the party who paid the compensation.    A seller or landlord may agree that a transaction-broker or single agent may share the commission or other compensation paid by the seller or landlord with another broker.    A buyer or tenant may agree that a single agent or transaction-broker may share the commission or other compensation paid by the buyer or tenant with another broker.    A buyer's or tenant's agent shall obtain the written approval of the buyer or tenant before the agent may propose to the seller's or landlord's agent that the buyer's or tenant's agent be compensated by sharing compensation paid by the seller or landlord.    Prior to entering into a brokerage or listing agreement or a contract to buy, sell, or lease, the identity of those parties, persons, or entities paying compensation or commissions to any broker shall be disclosed to the parties to the transaction.    A broker may be compensated by more than one party for services in a transaction if those parties have consented in writing to such multiple payments prior to entering into a contract to buy, sell, or lease.     History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 655, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-810 as it existed prior to 2019.
CO Code § 12-10-411 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 4 - Brokerage Relationships|§ 12-10-411. Violations

 The violation of any provision of this part 4 by a broker constitutes an act pursuant to section   (m)    for which the real estate commission may investigate and take administrative action against any such broker pursuant to sections 12-10-217 and 12-10-219 .  History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 655, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-811 as it existed prior to 2019.
CO Code § 12-10-502 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 5 - Subdivisions|§ 12-10-502. Registration Required

  Unless exempt under the provisions of section 12-10-501 (3), a developer, before selling, leasing, or transferring or agreeing or negotiating to sell, lease, or transfer, directly or indirectly, any subdivision or any part thereof, shall register pursuant to this part 5.    Upon approval by the commission, a developer who has applied for registration pursuant to section 12-10-503 may offer reservations in a subdivision during the pendency of the application and until the application is granted or denied if the fees for the reservations are held in trust by an independent third party and are fully refundable.     History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 657, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-402 as it existed prior to 2019.   ANNOTATION   Law reviews. For article, “Residential Condominium Conversions”, see 11 Colo. Law. 2790 (1982).   Annotator's note. The following annotations include a case decided under former § 118-16-2, C.R.S. 1963. Annotator's note. The following annotations include a case decided under former § 118-16-2, C.R.S. 1963.   The purpose of the general assembly is to eliminate fraudulent promotions, and this is a proper exercise of the police power, which may be exercised not only to protect the health, safety, and morals of the public, but also to safeguard the public from financial loss caused by the fraud of others. People v. Maxwell, 162 Colo. 495 , 427 P.2d 310 (1967).   The registration of subdivision developers statute requires that subdivision developers of a tract containing a group of 20 or more building sites not intended for commercial or industrial use must apply to the real estate commission and receive a certificate of registration as a subdivision developer before engaging in the promotion and sale of the sites. People v. Maxwell, 162 Colo. 495 , 427 P.2d 310 (1967).
CO Code § 12-10-504 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 5 - Subdivisions|§ 12-10-504. Registration of Developers

  The commission shall register all applicants who meet the requirements of this part 5 and provide each applicant so registered with a certificate indicating that the developer named therein is registered in the state of Colorado as a subdivision developer. The developer that will sign as seller or lessor in any contract of sale, lease, or deed purporting to convey any site, tract, lot, or divided or undivided interest from a subdivision shall secure a certificate before offering, negotiating, or agreeing to sell, lease, or transfer before the sale, lease, or transfer is made. If such person or entity is acting only as a trustee, the beneficial owner of the subdivision shall secure a certificate. A certificate issued to a developer shall entitle all sales agents and employees of the developer to act in the capacity of a developer as agent for the developer. The developer shall be responsible for all actions of the sales agents and employees.    All certificates issued under this section shall expire on December 31 following the date of issuance. In the absence of any reason or condition under this part 5 that might warrant the denial or revocation of a registration, a certificate shall be renewed by payment of a renewal fee established pursuant to section 12-10-215. A registration that has expired may be reinstated within two years after the expiration upon payment of the appropriate renewal fee if the applicant meets all other requirements of this part 5.    All fees collected under this part 5 shall be deposited in accordance with section 12-10-214.    With regard to any subdivision for which the information required by section 12-10-503 (3) has not been previously submitted to the commission, each registered developer shall register the subdivision by providing the commission with the information before sale, lease, or transfer, or negotiating or agreeing to sell, lease, or transfer, any such subdivision or any part thereof.     History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 659, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-404 as it existed prior to 2019.
CO Code § 12-10-507 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 5 - Subdivisions|§ 12-10-507. Violation - Penalty

 Any person who fails to register as a developer in violation of this part 5 commits a class 6 felony and shall be punished as provided in section 18-1.3-401 . Any agreement or contract for the sale or lease of a subdivision or part thereof shall be voidable by the purchaser and unenforceable by the developer unless the developer was duly registered under the provisions of this part 5 when the agreement or contract was made.   History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 663, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-407 as it existed prior to 2019.
CO Code § 12-10-508 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 5 - Subdivisions|§ 12-10-508. Repeal of Part - Subject to Review

 This part 5 is repealed, effective September 1, 2026. Before the repeal, this part 5 is scheduled for review in accordance with section 24-34-104 .   History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 663, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-408 as it existed prior to 2019.
CO Code § 12-10-601 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 6 - Real Estate Appraisers|§ 12-10-601. Legislative Declaration

 The general assembly finds, determines, and declares that sections 12-10-602 to 12-10-623 are enacted pursuant to the requirements of the “Real Estate Appraisal Reform Amendments”, Title XI of the federal “Financial Institutions Reform, Recovery, and Enforcement Act of 1989”, as amended, 12 U.S.C. secs. 3331 to 3351. The general assembly further finds, determines, and declares that sections 12-10-602 to 12-10-623 are intended to implement the requirements of federal law in the least burdensome manner to real estate appraisers and appraisal management companies. Licensed ad valorem appraisers licensed under this article 10 are not regulated by the federal “Real Estate Appraisal Reform Amendments”, Title XI of the federal “Financial Institutions Reform, Recovery, and Enforcement Act of 1989”, as amended, 12 U.S.C. secs. 3331 to 3351.   History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 663, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-701 as it existed prior to 2019.
CO Code § 12-10-605 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 6 - Real Estate Appraisers|§ 12-10-605. Fees, Penalties, and Fines Collected Under Part 6

 All fees, penalties, and fines collected pursuant to this part 6, not including fees retained by contractors pursuant to contracts entered into in accordance with section 12-10-203 , 12-10-606 , or 24-34-101 , shall be transmitted to the state treasurer, who shall credit the same to the division of real estate cash fund, created in section 12-10-215 .   History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 669, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-705 as it existed prior to 2019.
CO Code § 12-10-608 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 6 - Real Estate Appraisers|§ 12-10-608. Errors and Omissions Insurance - Duties of the Division - Certificate of Coverage - Group Plan Made Available - Rules

  Every licensee under this part 6, except an appraiser who is employed by a state or local governmental entity or an inactive appraiser or appraisal management company, shall maintain errors and omissions insurance to cover all activities contemplated under this part 6. The division shall make the errors and omissions insurance available to all licensees by contracting with an insurer for a group policy after a competitive bid process in accordance with article 103 of title 24. A group policy obtained by the division must be available to all licensees with no right on the part of the insurer to cancel any licensee. A licensee may obtain errors and omissions insurance independently if the coverage complies with the minimum requirements established by the division.      If the division is unable to obtain errors and omissions insurance coverage to insure all licensees who choose to participate in the group program at a reasonable annual premium, as determined by the division, a licensee shall independently obtain the errors and omissions insurance required by this section.    The division shall solicit and consider information and comments from interested persons when determining the reasonableness of annual premiums.       The division shall determine the terms and conditions of coverage required under this section based on rules promulgated by the board. Each licensee shall be notified of the required terms and conditions at least thirty days before the annual premium renewal date as determined by the division. Each licensee shall file a certificate of coverage showing compliance with the required terms and conditions with the division by the annual premium renewal date, as determined by the division.    In addition to all other powers and duties conferred upon the board by this part 6, the board is authorized and directed to adopt rules it deems necessary or proper to carry out the requirements of this section.      History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 673, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-708 as it existed prior to 2019.
CO Code § 12-10-609 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 6 - Real Estate Appraisers|§ 12-10-609. Bond Required

  Before the board issues a license to an applicant for an appraisal management company license, the applicant shall post with the board a surety bond in the amount of twenty-five thousand dollars. A licensed appraisal management company shall maintain the required bond at all times.    The surety bond shall require the surety to provide notice to the board within thirty days if payment is made from the surety bond or if the bond is canceled.     History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 674, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-709 as it existed prior to 2019.
CO Code § 12-10-611 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 6 - Real Estate Appraisers|§ 12-10-611. Licensure or Certification by Endorsement - Temporary Practice

  The board may issue a license or certification to an appraiser by endorsement to engage in the occupation of real estate appraisal to any applicant who has a license or certification in good standing as a real estate appraiser under the laws of another jurisdiction if:   The applicant presents proof satisfactory to the board that, at the time of application for a Colorado license or certificate by endorsement, the applicant possesses credentials and qualifications that are substantially equivalent to the requirements of this part 6; or    The jurisdiction that issued the applicant a license or certificate to engage in the occupation of real estate appraisal has a law similar to this subsection (1) pursuant to which it licenses or certifies persons who are licensed real estate appraisers in this state.       The board may specify, by rule, what constitutes substantially equivalent credentials and qualifications and the manner in which the board will review credentials and qualifications of an applicant.    Pursuant to section 1122   of Title XI of the federal “Financial Institutions Reform, Recovery, and Enforcement Act of 1989”, Pub.L. 101-73, as amended, the board shall recognize, on a temporary basis, the license or certification of an appraiser issued by another state if:    The appraiser applies for and is granted a temporary practice permit by the board.        (a) The appraiser's business is of a temporary nature; and   History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 675, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-711 as it existed prior to 2019.
CO Code § 12-10-612 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 6 - Real Estate Appraisers|§ 12-10-612. Denial of License or Certificate - Renewal - Definition

  The board may determine whether an applicant for licensure or certification possesses the necessary qualifications for licensure or certification required by this part 6. The board may consider such qualities as the applicant's fitness and prior professional licensure and whether the applicant has been convicted of a crime. As used in this subsection (1), “applicant” includes any individual who owns, in whole or in part, directly or indirectly, an appraisal management company and any appraiser designated as a controlling appraiser by a partnership, limited liability company, or corporation acting as an appraisal management company.    If the board determines that an applicant does not possess the applicable qualifications required by this part 6, or the applicant has violated this part 6, rules promulgated by the board, or any board order, the board may deny the applicant a license or certificate or deny the renewal or reinstatement of a license or certificate pursuant to section 12-10-610, and, in such instance, the board shall provide the applicant with a statement in writing setting forth the basis of the board's determination that the applicant does not possess the qualifications or professional competence required by this part 6. The applicant may request a hearing on the determination as provided in section 24-4-104 (9).     History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 676, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-712 as it existed prior to 2019.
CO Code § 12-10-615 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 6 - Real Estate Appraisers|§ 12-10-615. Judicial Review of Final Board Actions and Orders

 Final actions and orders of the board under sections 12-10-612 , 12-10-613 , and 12-10-614 appropriate for judicial review are subject to judicial review in the court of appeals in accordance with section 24-4-106 (11) .   History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 682, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-715 as it existed prior to 2019.
CO Code § 12-10-618 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 6 - Real Estate Appraisers|§ 12-10-618. Injunctive Proceedings

  The board may, in the name of the people of the state of Colorado, through the attorney general of the state of Colorado, apply for an injunction in any court of competent jurisdiction to perpetually enjoin a person or appraisal management company from committing an act prohibited by this part 6.    Injunctive proceedings under this section are in addition to and not in lieu of penalties and other remedies provided in this part 6.    When seeking an injunction under this section, the board is not required to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from a continued violation.     History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 683, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-718 as it existed prior to 2019.
CO Code § 12-10-619 (2021)
2021 Colorado Code|Title 12 - Professions and Occupations|Article 10 - Real Estate|Part 6 - Real Estate Appraisers|§ 12-10-619. Special Provision for Appraiser Employees of County Assessors

  Except as provided in subsection (2) of this section, unless a federal waiver is applied for and granted pursuant to section 12-10-604 (1)(i), a person acting as a real estate appraiser in this state shall be licensed or certified as provided in this part 6. No person shall practice without a license or certificate or hold himself or herself out to the public as a licensed or certified real estate appraiser unless licensed or certified pursuant to this part 6.    An appraiser employee of a county assessor who is employed to appraise real property shall be licensed or certified as provided in this part 6 and shall have two years from the date of taking office or the beginning of employment to comply with this part 6.     History. Source: L. 2019: Entire title R&RE with relocations,(HB 19-1172), ch. 136, p. 684, § 1, effective October 1.    Editor's note:   This section is similar to former § 12-61-719 as it existed prior to 2019.   ANNOTATION   This section is unconstitutional as applied to county assessors. The qualifications for county officers that are specified in article XIV, § 10, of the Colorado Constitution are exclusive. Thus, the general assembly does not have authority to require additional qualifications, including licensure. Reale v. Bd. of Real Estate Appraisers, 880 P.2d 1205 (Colo. 1994) (decided under former law).