reglab/housing_qa huggingface dataset:
ID Code § 54-2032 (2021)
2021 Idaho Code|Title 54 - PROFESSIONS, VOCATIONS, AND BUSINESSES|Chapter 20 - IDAHO REAL ESTATE LICENSE LAW|Section 54-2032 - CERTIFICATION OF INSTRUCTORS.

54-2032. CERTIFICATION OF INSTRUCTORS. All individuals wishing to teach real estate courses for credit toward prelicense, post license or the commission continuing education core course requirements in Idaho must first be approved or certified by the commission for each course the individual wishes to teach.  History: [54-2032, added 2000, ch. 285, sec. 3, p. 928; am. 2005, ch. 107, sec. 9, p. 350; am. 2015, ch. 51, sec. 6, p. 119.]
ID Code § 54-2034 (2021)
2021 Idaho Code|Title 54 - PROFESSIONS, VOCATIONS, AND BUSINESSES|Chapter 20 - IDAHO REAL ESTATE LICENSE LAW|Section 54-2034 - SPECIAL CONSIDERATION — DISCRETION OF THE COMMISSION.

54-2034. SPECIAL CONSIDERATION — DISCRETION OF THE COMMISSION. The commission may, in its discretion, make such additional investigation and inquiry relative to the applicant for instructor certification as it shall deem advisable, and if other good cause exists, may deny or accept the application for certification. Based upon an applicant’s educational background, experience in related activities, or a review of the applicant’s evaluations as an assistant teacher, the commission may modify the requirements for instructor certification; such modification may include reducing the requirements or assigning additional requirements for certification.  History: [54-2034, added 2000, ch. 285, sec. 3, p. 929; am. 2006, ch. 166, sec. 8, p. 513.]
ID Code § 54-2035 (2021)
2021 Idaho Code|Title 54 - PROFESSIONS, VOCATIONS, AND BUSINESSES|Chapter 20 - IDAHO REAL ESTATE LICENSE LAW|Section 54-2035 - TERM OF INSTRUCTOR CERTIFICATION AND RENEWAL.

54-2035. TERM OF INSTRUCTOR CERTIFICATION AND RENEWAL. (1) Certification. Each instructor certification issued by the commission shall be for a term of up to one (1) year and shall expire annually on June 30.  (2) Recertification. (a) In order to be recertified, each instructor shall: (i) Return a completed recertification application on a form provided by the commission, along with all necessary attachments and fees, to the commission office prior to the expiration date for commission approval; (ii) Demonstrate the ability to adequately teach the course. The ability to adequately teach shall be determined by the commission based upon any or all of the following: 1. Evaluations received from students; 2. Direct observation of the instructor’s teaching performance by a commission representative; or 3. Review of the outline and reference materials provided for the course; and (iii) Have attended a commission-sponsored instructor development seminar or received other acceptable training in methods of teaching adults during the preceding two (2) years. (b) Recertification shall not be effective until the commission formally approves the application for renewal. An instructor’s failure to obtain approved recertification prior to the expiration of the certification will result in no credit being given for any course taught by the instructor whose certification has expired prior to conclusion of the course.  History: [54-2035, added 2000, ch. 285, sec. 3, p. 929; am. 2003, ch. 65, sec. 5, p. 217; am. 2007, ch. 98, sec. 7, p. 296; am. 2015, ch. 52, sec. 2, p. 124.]
ID Code § 54-2037 (2021)
2021 Idaho Code|Title 54 - PROFESSIONS, VOCATIONS, AND BUSINESSES|Chapter 20 - IDAHO REAL ESTATE LICENSE LAW|Section 54-2037 - TERM OF COURSE CERTIFICATION AND RENEWAL.

54-2037. TERM OF COURSE CERTIFICATION AND RENEWAL. Each course certification issued by the commission shall be for a term of two (2) years. The exact expiration date will be shown on the course certificate. In order to maintain certification a course provider, for each course, must return a properly completed renewal application on a form provided by the commission, along with all necessary attachments and renewal fees to the commission office prior to the expiration date and within sufficient time for commission review and approval. Recertification is not effective until the commission has formally approved the application for renewal. Failure to obtain approved renewal of certification prior to its expiration date will result in no credit being given for a course if its certification has expired prior to conclusion of the course.  History: [54-2037, added 2000, ch. 285, sec. 3, p. 930.]
ID Code § 54-2039 (2021)
2021 Idaho Code|Title 54 - PROFESSIONS, VOCATIONS, AND BUSINESSES|Chapter 20 - IDAHO REAL ESTATE LICENSE LAW|Section 54-2039 - BROKER AND BRANCH MANAGER.

54-2039. BROKER AND BRANCH MANAGER. (1) Each real estate brokerage company must have a legally qualified individual acting as designated broker at all times. Each branch office licensed under section 54-2016(4), Idaho Code, shall have, at all times, a legally qualified individual acting as branch manager. (2) Change of broker in business entity. A license issued to a legal business entity, as defined in this chapter, is effective only as long as the individual designated broker’s license is in active status and in effect. If the individual so designated has a license refused, revoked, suspended or otherwise made inactive by the commission, or if the individual designated broker voluntarily surrenders the individual license or ceases to be connected with the entity in the manner required in this chapter, the business entity shall have ten (10) business days in which to designate another qualified individual as designated broker before the entity’s license is terminated, and the licenses of all associated licensees are made inactive. (3) Effective date of changes. No change in designated broker shall be effective until written notice is received and approved by the commission, in the form required. (4) Failure to comply — Original broker to remain responsible except in the case of revocation. Where a licensed brokerage company fails to comply with this section and its office is closed, or during any period where the designated broker has left the brokerage company and no new broker has been designated to act for the company, the original designated broker shall remain responsible for trust account funds, pending transactions and records in the manner described in sections 54-2041 through 54-2049, Idaho Code. However, if the license of the original designated broker of the brokerage company is revoked, the license of that brokerage company shall be made inactive and its office closed until the company designates another qualified individual to act as broker.  History: [54-2039, added 2000, ch. 285, sec. 3, p. 931; am. 2001, ch. 123, sec. 14, p. 433; am. 2015, ch. 51, sec. 9, p. 121; am. 2020, ch. 106, sec. 2, p. 287.]
ID Code § 54-2040 (2021)
2021 Idaho Code|Title 54 - PROFESSIONS, VOCATIONS, AND BUSINESSES|Chapter 20 - IDAHO REAL ESTATE LICENSE LAW|Section 54-2040 - MAIN OFFICE OR BUSINESS LOCATION.

54-2040. MAIN OFFICE OR BUSINESS LOCATION. (1) Definite location required. Each individual licensed as a designated real estate broker under the provisions of this chapter shall be required to have and maintain a definite, physical place of business, which place shall serve as his main office for the transaction of business and be regarded for the intent and purpose of this chapter as his principal place of business. Notice in writing shall be given to the commission of any change by the broker of the business name, location, or mailing address. No other location may be used as a main office location until proper notice is acknowledged by the commission. A change of business name or location without notification to the commission shall automatically inactivate the license previously issued. The broker shall also notify the commission in writing of any change in the business telephone number. A designated broker is not required to obtain, display or possess a physical license certificate as evidence of the business’s licensure; however, the commission may make license certificates available for a fee as authorized by this chapter. The broker shall not display or otherwise make available to the public any license certificate bearing a former business name or former location. (2) Broker for more than one business. A qualified individual may be the designated broker for more than one (1) licensed real estate business entity only if all licensed businesses operate their main offices at the same physical location. (3) Brokers sharing same business location. More than one (1) individually licensed broker may operate an office at the same address only if each broker operates under a business name which clearly identifies the broker as an individual within the group of brokers, and each broker shall maintain his or her records and trust accounts separate from all other brokers. (4) Business name. A broker shall not conduct business under any name other than the one in which the license is issued. (5) Lending license prohibited. A broker shall not lend or permit the use of the broker’s license, whether for compensation or not, to enable anyone licensed or unlicensed to, in fact, establish or carry on a business for which a real estate broker’s license is required, wherein the broker does not actively manage and have full control. In like manner, a salesperson shall not use another person’s broker’s license, whether for compensation or not, to establish or carry on a business for which a broker’s license is required, nor to manage and control the office, except as allowed by section 54-2016(4), Idaho Code.  History: [54-2040, added 2000, ch. 285, sec. 3, p. 932; am. 2001, ch. 123, sec. 15, p. 435; am. 2002, ch. 220, sec. 8, p. 616; am. 2007, ch. 98, sec. 8, p. 296; am. 2020, ch. 106, sec. 3, p. 288.]
ID Code § 54-2041 (2021)
2021 Idaho Code|Title 54 - PROFESSIONS, VOCATIONS, AND BUSINESSES|Chapter 20 - IDAHO REAL ESTATE LICENSE LAW|Section 54-2041 - TRUST ACCOUNTS AND ENTRUSTED PROPERTY.

54-2041. TRUST ACCOUNTS AND ENTRUSTED PROPERTY. (1) A licensed Idaho real estate broker shall be responsible for all moneys or property entrusted to that broker or to any licensee representing the broker. For purposes of this section, moneys or property shall not be considered entrusted to the broker or to any licensee representing the broker when the parties to the transaction have instructed the broker or its licensees, in writing, to transfer such moneys or property to a third party, including, but not limited to, a title, an escrow or a trust company if upon transfer, the broker or its licensees have no right to exercise control over the safekeeping or disposition of said moneys or property. (2) Unless otherwise instructed by the parties in writing to deposit entrusted moneys on a later day, immediately upon receipt, the broker shall deposit entrusted moneys in a neutral, qualified trust fund account pursuant to section 54-2042, Idaho Code, and shall properly care for any entrusted property. (3) Only moneys relating to a regulated real estate transaction may be deposited in the broker’s real estate trust fund account. Entrusted moneys shall not be commingled with moneys of the broker, firm or agent, except for that minimum amount that may be required to open and maintain the trust account or as otherwise allowed by subsection (7) of section 54-2042, Idaho Code. (4) A licensed real estate broker shall not be responsible for depositing moneys into the broker’s real estate trust account, nor responsible for creating a real estate trust account with an approved depository as set forth in section 54-2042, Idaho Code, when the parties to the transaction have instructed the broker or its licensees, in writing, to transfer such moneys to a third party, including, but not limited to, a title, an escrow or a trust company. Provided however, a broker shall be responsible for maintaining a record of the time and date that said moneys or property was transferred from the broker to a third party. (5) The real estate broker shall remain fully responsible and accountable for all entrusted moneys and property until a full accounting has been given to the parties involved.  History: [54-2041, added 2000, ch. 285, sec. 3, p. 933; am. 2001, ch. 123, sec. 16, p. 436; am. 2002, ch. 220, sec. 9, p. 617; am. 2005, ch. 107, sec. 12, p. 352; am. 2009, ch. 134, sec. 1, p. 415.]
ID Code § 54-2043 (2021)
2021 Idaho Code|Title 54 - PROFESSIONS, VOCATIONS, AND BUSINESSES|Chapter 20 - IDAHO REAL ESTATE LICENSE LAW|Section 54-2043 - INTEREST-BEARING TRUST ACCOUNTS.

54-2043. INTEREST-BEARING TRUST ACCOUNTS. The broker may deposit funds in a separate, interest-bearing trust account for a single transaction if directed in writing by both parties to the transaction, and only if the following additional requirements are met: (1) The interest-bearing trust account must be established in accordance with all requirements in section 54-2042, Idaho Code. However, the interest-bearing trust account shall be created at an approved depository. (2) The deposit shall be made in the name of the broker, as described above, and each such account shall contain only the funds relating to one (1) transaction. (3) The interest-bearing trust account, when created for this purpose, must allow for withdrawal of the funds upon the broker’s demand, unless all parties direct the broker in writing to do otherwise. (4) There must be a written agreement signed by both the buyer and the seller stating who is to receive the interest accrued from the deposit. This agreement is to be retained by the responsible broker in the transaction file with a copy given to the buyer and the seller.  History: [54-2043, added 2000, ch. 285, sec. 3, p. 934; am. 2005, ch. 107, sec. 14, p. 353.]
ID Code § 54-2045 (2021)
2021 Idaho Code|Title 54 - PROFESSIONS, VOCATIONS, AND BUSINESSES|Chapter 20 - IDAHO REAL ESTATE LICENSE LAW|Section 54-2045 - TRUST ACCOUNT DEPOSITS AND RECEIPT OF CONSIDERATION.

54-2045. TRUST ACCOUNT DEPOSITS AND RECEIPT OF CONSIDERATION. Except as otherwise provided in this section, all entrusted funds received by a broker in connection with a regulated real estate transaction, including, but not limited to, earnest money, shall be deposited into a real estate trust account maintained by the broker at an approved depository. In addition, all earnest money, option money, promissory notes, tangible personal property and any other consideration received by a broker, regardless of form, must be accounted for upon receipt and in the following manner: (1) Time of deposit. All moneys received by a broker for another in a real estate transaction are to be deposited on or before the banking day immediately following the receipt day of such funds, unless written instructions signed by the party or parties having an interest in the funds direct the broker to do otherwise. (2) Checks held in uncashed form. A ledger record must also be created when the broker or associate receives a check to be held for later deposit. However, such a check must be accompanied by written instructions in the purchase and sale agreement or offer to withhold deposit until a time certain, such as acceptance of the offer by the seller. (3) Consideration returned before deposit. A ledger record must also be created even if the consideration received by a broker or salesperson is to be returned before it has been deposited or otherwise transferred. A written and dated notation must be placed on both the purchase and sale agreement, offer or other document dealing with the consideration, and on the ledger record. No consideration is to be returned without the knowledge and consent of the broker. (4) Consideration received by sales associate. All consideration, including cash, checks held in uncashed form and promissory notes, received by a sales associate in connection with a real estate transaction shall be immediately delivered to the broker or the broker’s office.  History: [54-2045, added 2000, ch. 285, sec. 3, p. 936; am. 2007, ch. 98, sec. 10, p. 299.]
ID Code § 54-2046 (2021)
2021 Idaho Code|Title 54 - PROFESSIONS, VOCATIONS, AND BUSINESSES|Chapter 20 - IDAHO REAL ESTATE LICENSE LAW|Section 54-2046 - TRUST ACCOUNT DISBURSEMENTS.

54-2046. TRUST ACCOUNT DISBURSEMENTS. The broker who holds entrusted funds or like payments in lieu of cash received in a regulated real estate transaction is fully responsible for all such funds until a full accounting has been made to the parties involved. All cash or like payments in lieu of cash must be disbursed from the real estate trust account only in accordance with this section. Failure to comply with this section is a violation of license law and will subject the broker to discipline. (1) Written authorization required. No disbursements shall be made without a written, signed authorization by the parties to the transaction or an order of the court. Written and signed instructions from parties to the transaction may be in the purchase and sale agreement or in a separate document. (2) Disbursements in advance of closing. No disbursements shall be made in advance of closing or before the happening of a condition set forth in the purchase and sale agreement or other agreement in a regulated real estate transaction to the seller, closing agent or any other person without the required written and signed authorization. (3) Disbursements to escrow agent. When set forth in the purchase and sale agreement that funds are to be disbursed to the person or company named as the escrow closing agent or agency, such disbursement shall be made to the person, company, agent or agency on or before the day of closing, and a receipt for such disbursement shall be retained in the broker’s transaction file. (4) Withdrawal of broker’s commission. No disbursement of any portion of the broker’s commission shall take place without prior written, signed authorization from the buyer and seller or until copies of the closing statements, signed by the buyer and seller, have been delivered to the broker and until the buyer or seller has been paid the amount due as determined by the closing statement. (5) Provision for forfeited earnest money. The purchase and sale agreement must include a provision for division of moneys taken as earnest money when the transaction is not closed and such moneys are retained by any person as forfeited payment.  History: [54-2046, added 2000, ch. 285, sec. 3, p. 937; am. 2001, ch. 123, sec. 18, p. 437.]
ID Code § 54-2047 (2021)
2021 Idaho Code|Title 54 - PROFESSIONS, VOCATIONS, AND BUSINESSES|Chapter 20 - IDAHO REAL ESTATE LICENSE LAW|Section 54-2047 - DISPUTED EARNEST MONEY.

54-2047. DISPUTED EARNEST MONEY. (1) Any time more than one (1) party to a transaction makes demand on funds or other consideration for which the broker is responsible, such as, but not limited to, earnest money deposits, the broker shall: (a) Notify each party, in writing, of the demand of the other party; and (b) Keep all parties to the transaction informed of any actions by the broker regarding the disputed funds or other consideration, including retention of the funds by the broker until the dispute is properly resolved. (2) The broker may reasonably rely on the terms of the purchase and sale agreement or other written documents signed by both parties to determine how to disburse the disputed money and may, at the broker’s own discretion, make such disbursement. Discretionary disbursement by the broker based on a reasonable review of the known facts is not a violation of license law, but may subject the broker to civil liability. (3) If the broker does not believe it is reasonably possible to disburse the disputed funds, the broker may hold the funds until ordered by a court of proper jurisdiction to make a disbursement. The broker shall give all parties written notice of any decision to hold the funds pending a court order for disbursement.  History: [54-2047, added 2000, ch. 285, sec. 3, p. 937.]
ID Code § 54-2048 (2021)
2021 Idaho Code|Title 54 - PROFESSIONS, VOCATIONS, AND BUSINESSES|Chapter 20 - IDAHO REAL ESTATE LICENSE LAW|Section 54-2048 - RESPONSIBLE BROKER FOR THE TRANSACTION — DUTIES AND RECORDKEEPING.

54-2048. RESPONSIBLE BROKER FOR THE TRANSACTION — DUTIES AND RECORDKEEPING. The "responsible broker," as referred to in this section, shall be responsible to the commission for the transaction, transaction records, the funds and closing in accordance with the requirements of this chapter. The broker who lists and sells any real property shall be deemed the responsible broker in the transaction. In the case of a cooperative sale, the broker who holds entrusted funds in a real estate trust account while the transaction is pending, or who delivers or transfers the funds to the closing agency or any authorized party other than the cooperating broker in the transaction, shall be deemed the broker responsible for the transaction. The responsible broker shall: (1) Ensure the correctness and delivery of detailed closing statements that accurately reflect all receipts and disbursements for their respective accounts to both the buyer and seller in a transaction, even if the closing is completed by a real estate escrow closing agent, title company or other authorized third party and regardless of the responsible broker’s agent or nonagent relationship to the buyer or seller. (2) Show proof of delivery of the closing statement to the buyer and seller by their signatures on copies of such closing statements, which shall be retained in the broker’s transaction file. When signatures of the parties cannot be obtained, a copy of the closing statement transmittal letter, sent by certified mail, return receipt requested, or a written certification of delivery signed by an officer of the escrow closing agency, shall be retained in the broker’s transaction files. (3) Create and maintain, for the retention period required in section 54-2049, Idaho Code, a transaction file containing the following documents, as applicable. For all pending, closed or fallen transactions, the original or a true and correct copy of: (a) Signed closing statements, if applicable; (b) Written and signed brokerage representation agreements, if any. A responsible broker who is representing both the seller and the buyer in a transaction shall retain properly executed brokerage representation agreements in the transaction file and, if appropriate to the transaction, a properly executed "consent to limited dual representation" statement. A responsible broker who has a signed brokerage representation agreement with only one (1) party to the transaction, either buyer or seller, must retain only that one (1) agreement in the transaction file; (c) All offers accepted, countered or rejected, which must each be retained in the manner required in section 54-2049, Idaho Code; (d) The original or a true and correct copy of all rejected offers must be retained in the files of the selling broker for the statutory records retention period in section 54-2049, Idaho Code.  History: [54-2048, added 2000, ch. 285, sec. 3, p. 938; am. 2020, ch. 87, sec. 4, p. 235.]
ID Code § 54-2049 (2021)
2021 Idaho Code|Title 54 - PROFESSIONS, VOCATIONS, AND BUSINESSES|Chapter 20 - IDAHO REAL ESTATE LICENSE LAW|Section 54-2049 - RECORD RETENTION SCHEDULES.

54-2049. RECORD RETENTION SCHEDULES. All records required in this chapter to be kept and maintained by a real estate broker, including trust account and financial records, transaction files and other records are to be kept in the broker’s files according to this section. The following records must be kept by a broker for three (3) calendar years after the year in which the event occurred, the transaction closed, all funds were disbursed, or the agreement and any written extension expired: (1) The original or true copy of all accepted, countered or rejected offers; (2) Listing or buyer brokerage representation agreements and "consent to limited dual representation" forms; (3) Transaction files and the contents required in section 54-2048(3), Idaho Code; (4) Trust account ledger records; and (5) All trust account reconciliation records, as defined in this chapter.  History: [54-2049, added 2000, ch. 285, sec. 3, p. 939.]