reglab/statecodes huggingface dataset:
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 7 - MANAGING BROKER EDUCATION; POSTLICENSURE EDUCATION; CONTINUING EDUCATION; INSTRUCTOR EDUCATION › Rule 6 - Distance Learning Continuing Education › Section 6-2 - Distance learning continuing education requirements

Current through July 10, 2024
Authority: IC 25-34.1-9-21
Affected: IC 25-34.1
Sec. 2.
Distance learning courses must be approved by the commission and meet the requirements of section 3 of this rule.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 7 - MANAGING BROKER EDUCATION; POSTLICENSURE EDUCATION; CONTINUING EDUCATION; INSTRUCTOR EDUCATION › Rule 6 - Distance Learning Continuing Education › Section 6-3 - Distance learning continuing education courses

Current through July 10, 2024
Authority: IC 25-34.1-9-21
Affected: IC 25-34.1-9
Sec. 3.
The commission shall approve a distance learning continuing education course if the commission determines to its satisfaction the following:
(1) The distance learning continuing education course serves to protect the public by contributing to the maintenance and improvement of the quality of the real estate services provided by the real estate brokers to the public.
(2) An appropriate and complete application has been filed with the commission.
(3) The distance learning continuing education course meets the content requirements as prescribed in 876 IAC 7-5-4.
(4) The course complies with sections 5 through 7 of this rule as applicable.
(5) The distance learning continuing education course meets all other requirements as prescribed in IC 25-34.1-9 and this article.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 7 - MANAGING BROKER EDUCATION; POSTLICENSURE EDUCATION; CONTINUING EDUCATION; INSTRUCTOR EDUCATION › Rule 6 - Distance Learning Continuing Education › Section 6-4 - Approval of distance learning continuing education

Current through July 10, 2024
Authority: IC 25-34.1-9-21
Affected: IC 25-34.1
Sec. 4.
In order for a distance learning continuing education course to meet the requirements of this rule, the provider shall submit the following information:
(1) Mission and objectives, as follows:
(A) A statement that clearly defines the mission of the provider's educational programs.
(B) The specific curricular objectives for the course.
(C) A plan for periodic review of the following:
(i) The mission statement.
(ii) Curricular objectives.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 7 - MANAGING BROKER EDUCATION; POSTLICENSURE EDUCATION; CONTINUING EDUCATION; INSTRUCTOR EDUCATION › Rule 6 - Distance Learning Continuing Education › Section 6-5 - Distance learning continuing education courses by correspondence

Current through July 10, 2024
Authority: IC 25-34.1-9-21
Affected: IC 25-34.1
Sec. 5.
Brokers may take distance learning continuing education courses by correspondence so long as the courses meet the following criteria:
(1) All courses must provide a test, and the participant must score at least seventy-five percent (75%) to pass and receive credit for the course.
(2) Tests must have multiple choice questions with at least twenty (20) questions per two (2) hours of instruction. The following types of questions are not allowed:
(A) True or false.
(B) Essay.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 7 - MANAGING BROKER EDUCATION; POSTLICENSURE EDUCATION; CONTINUING EDUCATION; INSTRUCTOR EDUCATION › Rule 6 - Distance Learning Continuing Education › Section 6-6 - Video instruction distance learning continuing education

Current through July 10, 2024
Authority: IC 25-34.1-9-21
Affected: IC 25-34.1
Sec. 6.
Brokers may take distance learning continuing education courses by video instruction so long as the courses meet the following criteria:
(1) All courses must provide a test, and the participant must score at least seventy-five percent (75%) to pass and receive credit for the course.
(2) Tests must have multiple choice questions with at least twenty (20) questions per two (2) hours of instruction. The following types of questions are not allowed:
(A) True or false.
(B) Essay.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 7 - MANAGING BROKER EDUCATION; POSTLICENSURE EDUCATION; CONTINUING EDUCATION; INSTRUCTOR EDUCATION › Rule 6 - Distance Learning Continuing Education › Section 6-7 - Internet distance learning continuing education

Current through July 10, 2024
Authority: IC 25-34.1-9-21
Affected: IC 25-34.1
Sec. 7.
Brokers may take continuing education courses via the Internet so long as the courses meet the following criteria:
(1) Courses shall be timed so that brokers taking the course must be engaged for the entire length of time for which the course is approved. A broker shall not be able to fast forward or speed through a course in less time. This subdivision does not alter the time calculation for courses of fifty (50) minute hours as provided for in 876 IAC 7-5-1(c).
(2) All courses must provide a test, and the participant must score at least seventy-five percent (75%) to pass and receive credit for the course.
(3) Tests must have multiple choice questions with at least twenty (20) questions per two (2) hours of instruction. The following types of questions are not allowed:
(A) True or false.
(B) Essay.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 7 - MANAGING BROKER EDUCATION; POSTLICENSURE EDUCATION; CONTINUING EDUCATION; INSTRUCTOR EDUCATION › Rule 7 - Continuing Education; Waiver › Section 7-1 - Waiver of continuing education requirements due to hardship

Current through July 10, 2024
Authority: IC 25-34.1-9-21
Affected: IC 25-34.1-9-11; IC 25-34.1-9-19
Sec. 1.
(a) An applicant for license renewal who was unable to fulfill the continuing education requirements under IC 25 34.1-9-11 may be granted a waiver of the continuing education requirement by the commission under IC 25-34.1-9-19(1).
(b) An applicant requesting a waiver of continuing education requirements under subsection (a) shall certify under penalty of perjury that the applicant was unable to fulfill the continuing education due to a hardship resulting from the following:
(1) Service in the armed forces of the United States for at least one (1) year of the three (3) year licensure period.
(2) An incapacitating illness which has prevented either part-time or full-time employment for at least twelve (12) months of the three (3) year licensure period.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 8 - OPERATION OF BROKER COMPANIES AND OTHER PROVISIONS CONCERNING REAL ESTATE PRACTICE › Rule 1 - Operation of Broker Companies › Section 1-1 - Supervision of broker company

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-3-4.1; IC 25-34.1-4-2
Sec. 1.
(a) Every broker company shall be directed, supervised, and managed by a managing broker as provided for in IC 25-34.1 and this title. For a sole proprietorship, the sole proprietor shall be the managing broker. For partnerships, limited liability companies, and corporations, the managing broker shall be the managing broker designated to the commission under IC 25-34.1-4-2. The broker company shall constitute the managing broker's principal and sole place of real estate business. This subsection shall not prohibit the managing broker from being the managing broker for more than one (1) broker company located at the same address.
(b) A sole proprietor managing broker, and, as provided for in IC 25-34.1-4-2, the designated managing broker described in subsection (a) shall be primarily responsible to the commission for the broker company's actions.
(c) The managing broker described in subsection (a) may also be a branch manager under section 2 of this rule.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 8 - OPERATION OF BROKER COMPANIES AND OTHER PROVISIONS CONCERNING REAL ESTATE PRACTICE › Rule 1 - Operation of Broker Companies › Section 1-2 - Supervision of office by licensed broker; branch offices; notice by managing broker

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-3-4.1
Sec. 2.
(a) Any branch office that a broker company maintains shall be managed by a branch manager. The broker company shall submit to the commission a Branch Office Registration Form prior to opening any branch office. The broker company shall notify the commission when:
(1) a branch office has a new branch manager; and
(2) any individual broker associated with the broker company transfers from one (1) branch office to another branch office within that broker company.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 8 - OPERATION OF BROKER COMPANIES AND OTHER PROVISIONS CONCERNING REAL ESTATE PRACTICE › Rule 1 - Operation of Broker Companies › Section 1-3 - Association with broker company; duties of parties

Current through July 10, 2024
Authority: IC 25-1-8-2; IC 25-34.1-2-5
Affected: IC 25-34.1-3-4.1
Sec. 3.
(a) An individual newly licensed as a broker shall choose either to be unassigned or to be assigned to a broker company.
(b) If the broker wishes to be assigned, the broker's licensure application shall also be signed by the broker company's managing broker described in section 1(a) of this rule attesting to the assignment.
(c) If an unassigned broker subsequently wishes to be assigned, it shall be the responsibility of the broker to have a reassignment application signed by the broker and the new broker company's managing broker described in section 1(a) of this rule and to pay the reassignment fee established in 876 IAC 5-3-1.
(d) An inactive broker who reactivates the inactive license and qualifies for reactivation shall be treated in the same manner provided for in subsections (a) through (c).
(e) A broker who reinstates an expired license and qualifies for reinstatement shall be treated in the same manner as provided for in subsections (a) through (c).
(f) A broker in referral status who wishes to resume active status (and therefore be eligible to perform acts that require a broker's license under IC 25-34.1 beyond making referrals to brokers) and qualifies to resume active status shall be treated in the same manner as provided for in subsections (a) through (c).
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 8 - OPERATION OF BROKER COMPANIES AND OTHER PROVISIONS CONCERNING REAL ESTATE PRACTICE › Rule 1 - Operation of Broker Companies › Section 1-4 - Termination of association with broker company; duties of parties

Current through July 10, 2024
Authority: IC 25-1-8-2; IC 25-34.1-2-5
Affected: IC 25-34.1-3-4.1
Sec. 4.
(a) Any broker, upon termination of the broker's association with a broker company, shall submit to the commission within five (5) business days of the termination, a reassignment application attesting to the termination and electing either to be unassigned or to be assigned to a new broker company. An unassigned broker may not practice real estate until the broker is assigned under the provisions of subsection (c).
(b) Subsection (a) shall not prohibit an unassigned broker from practicing real estate as a sole proprietor broker company if eligible to do so under IC 25-34.1-3-4.1(f)
(c) If a terminated broker is transferring to a new broker company upon departure from the broker's previous broker company, it shall be the responsibility of the broker to have the reassignment application signed by the broker and the new broker company's managing broker described in section 1(a) of this rule attesting to the assignment and to pay the reassignment fee established in 876 IAC 5-3-1.
(d) If a broker who has become unassigned under subsection (a) is subsequently transferring to a new broker company, it shall be the responsibility of the broker to have the reassignment application signed by the broker and the new broker company's managing broker described in section 1(a) of this rule attesting to the assignment and to pay the reassignment fee established in 876 IAC 5-3-1.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 8 - OPERATION OF BROKER COMPANIES AND OTHER PROVISIONS CONCERNING REAL ESTATE PRACTICE › Rule 1 - Operation of Broker Companies › Section 1-5 - Association with broker company; duties of parties

Current through July 10, 2024
Authority: IC 25-1-8-2; IC 25-34.1-2-5
Affected: IC 25-34.1-3-4.1
Sec. 5.
A broker may not be associated with more than one (1) Indiana broker company at the same time.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 8 - OPERATION OF BROKER COMPANIES AND OTHER PROVISIONS CONCERNING REAL ESTATE PRACTICE › Rule 1 - Operation of Broker Companies › Section 1-6 - Termination of association with broker company; disposition of listings

Current through July 10, 2024
Authority: IC 25-1-8-2; IC 25-34.1-2-5
Affected: IC 25-34.1-3-3.1; IC 25-34.1-3-4.1
Sec. 6.
Any broker, upon termination of the broker's association with a broker company, shall turn over to the broker company any listings obtained during the broker's association unless otherwise stipulated by a written contract. The listings shall remain the property of the broker company.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 8 - OPERATION OF BROKER COMPANIES AND OTHER PROVISIONS CONCERNING REAL ESTATE PRACTICE › Rule 1 - Operation of Broker Companies › Section 1-7 - Unlicensed assistants; functions; responsibility of broker

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-3-2
Sec. 7.
Brokers may not allow an unlicensed assistant to perform any act that would require licensure under IC 25-34.1-3-2, including the following functions:
(1) Prepare promotional materials or advertisements without the review and approval of the supervising broker.
(2) Show real property.
(3) Answer questions about listings other than those concerning list price, address, property features, or geographic directions.
(4) Discuss or explain a contract, listing, lease, agreement, or other real estate document with any person outside the broker's broker company.
(5) Conduct open houses.
(6) Conduct telemarketing or telephone canvassing to schedule appointments in order to seek listings.
(7) Negotiate or agree to any commission, commission split, management fee, or referral fee on behalf of a broker.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 8 - OPERATION OF BROKER COMPANIES AND OTHER PROVISIONS CONCERNING REAL ESTATE PRACTICE › Rule 1 - Operation of Broker Companies › Section 1-8 - Advertising requirements; name of broker company; prohibitions

Current through July 10, 2024
Authority: IC 25-34.1-2-5; IC 25-34.1-2-5.1
Affected: IC 25-34.1-3-4.1
Sec. 8.
(a) Any display, classified advertising, signs, Internet advertising, or business cards that carry a broker's name must contain the name of the broker company with whom the broker is associated, and said broker company's name must be clearly visible. All advertising shall be under the direct supervision and in the name of the broker company.
(b) Any advertising by a broker company must reveal the name of the broker company either as it appears on the broker company's license issued by the commission or by its publicly known name.
(c) Any Internet, television, or radio advertising that carries the name of any broker associated with a broker company must carry the name of the broker company either as it appears on the broker company's license issued by the commission or by its publicly known name. However, if disclosing the name of the broker company is not practical in electronic displays of limited information (such as thumbnails, text messages, and tweets) the broker company's name does not need to be included if the electronic display is linked to a display that includes the broker company's name.
(d) A broker shall not advertise in a manner indicating that the property is being offered by a private party not engaged in the real estate business.
(e) Advertising where only a post office box number, telephone number, or street address appears shall not be used.
(f) No broker shall place a sign on any property, advertise, or offer any property for sale, lease, or rent without the written consent of the owner or the owner's authorized agent.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 8 - OPERATION OF BROKER COMPANIES AND OTHER PROVISIONS CONCERNING REAL ESTATE PRACTICE › Rule 1 - Operation of Broker Companies › Section 1-9 - Splitting commissions

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-3-4.1
Sec. 9.
A listing broker may offer a portion of the broker's commission as an inducement to selling brokers to sell a particular property. Such commission must be paid to the selling broker, and in no case shall it be paid directly to a broker associated with the selling broker.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 8 - OPERATION OF BROKER COMPANIES AND OTHER PROVISIONS CONCERNING REAL ESTATE PRACTICE › Rule 1 - Operation of Broker Companies › Section 1-10 - Referral service participation; written agreement

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-3-4.1
Sec. 10.
A broker company may participate in a referral service, or a franchise that provides a referral service, provided the participating broker company possesses a written agreement with the client and has a written agreement with the cooperating broker or brokers as to the fees to be paid.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 8 - OPERATION OF BROKER COMPANIES AND OTHER PROVISIONS CONCERNING REAL ESTATE PRACTICE › Rule 1 - Operation of Broker Companies › Section 1-11 - Participation of brokers with securities brokers; sale of securities involving real estate

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-3-2
Sec. 11.
Notwithstanding any provision contained within this title to the contrary, a broker may participate or associate with a person registered to act as a broker-dealer, agent, or investment advisor under the Indiana and federal securities laws in the sale of, or offer to sell, real estate where such real estate is a necessary element of a security, as that term is defined by the Securities Act of 1933 and the Securities Exchange Act of 1934. Any fee for services received by a registered securities broker-dealer, agent, or investment advisor in connection with the above-described activities shall not be construed to constitute the receipt or payment of a commission from a broker in contravention of 876 IAC 8-2-7(12).
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 8 - OPERATION OF BROKER COMPANIES AND OTHER PROVISIONS CONCERNING REAL ESTATE PRACTICE › Rule 1 - Operation of Broker Companies › Section 1-12 - Associating with unlicensed person; penalty

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-6-1.1
Sec. 12.
A broker shall not knowingly associate with any unlicensed person who is required to have a license, or allow such an unlicensed person to perform any of the acts that require a license.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 8 - OPERATION OF BROKER COMPANIES AND OTHER PROVISIONS CONCERNING REAL ESTATE PRACTICE › Rule 1 - Operation of Broker Companies › Section 1-13 - Investigation of escrow or trust accounts

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-2-5
Sec. 13.
(a) A broker company shall provide a detailed summary of the broker company's escrow/trust account upon request by an authorized representative of the commission or by the office of the attorney general for investigative purposes.
(b) A broker company that engages in activities constituting acts as prescribed in IC 25-34.1 involving monies being collected in the performance of such activities shall establish an escrow/trust account with a federally insured financial institution as required by IC 25-34.1 and this title.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 8 - OPERATION OF BROKER COMPANIES AND OTHER PROVISIONS CONCERNING REAL ESTATE PRACTICE › Rule 1 - Operation of Broker Companies › Section 1-14 - Broker cooperation with investigation

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-1-7; IC 25-1-11; IC 25-34.1
Sec. 14.
A broker who is the subject of an investigation by the office of the attorney general into possible violations of IC 25-34.1, IC 25-1-11, or this title shall cooperate with the investigation. Lack of cooperation may include failure to submit a requested written response to a pending investigation or failure to comply with any lawful demand for information made by the office of the attorney general, including failure to comply with any lawfully issued subpoena.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 8 - OPERATION OF BROKER COMPANIES AND OTHER PROVISIONS CONCERNING REAL ESTATE PRACTICE › Rule 2 - Listing Agreements, Offers to Purchase and Other Provisions Concerning Real Estate Practice › Section 2-1 - Listing agreements; prohibition

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-2-5
Sec. 1.
(a) All listing agreements or any authority to sell shall show a definite date of expiration and shall be in writing, either on paper or in electronic format, with one (1) copy to go to the owner within three (3) business days of the time of signing, and the original and all electronic files shall be retained in the office of the listing broker.
(b) No listing agreements shall be accepted by a broker company or by an associated broker on the broker company's behalf that provides for a net return to the seller, unless said listing agreement provides for a maximum commission to be paid by the seller to the broker company.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 8 - OPERATION OF BROKER COMPANIES AND OTHER PROVISIONS CONCERNING REAL ESTATE PRACTICE › Rule 2 - Listing Agreements, Offers to Purchase and Other Provisions Concerning Real Estate Practice › Section 2-2 - Written offers to purchase; disposition of money received

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-2-5
Sec. 2.
(a) Any written offers to purchase or authorization to purchase shall be communicated to the seller for the seller's formal acceptance or rejection immediately upon receipt of the offer. The listing broker shall, on or before the next two (2) banking days after final acceptance of the offer to purchase, do one (1) of the following:
(1) Deposit all money received in connection with a transaction in the listing broker's escrow/trust account.
(2) Deposit money received in connection with a transaction to whoever is indicated in the purchase agreement to receive the deposit.
The commission shall hold any broker with whom money is deposited responsible for the money.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 8 - OPERATION OF BROKER COMPANIES AND OTHER PROVISIONS CONCERNING REAL ESTATE PRACTICE › Rule 2 - Listing Agreements, Offers to Purchase and Other Provisions Concerning Real Estate Practice › Section 2-3 - Closing statements

Current through July 10, 2024
Authority: IC 25-34.1-2-5; IC 25-34.1-2-5.1
Affected: IC 25-34.1-2-5
Sec. 3.
Every listing and selling broker shall deliver to the broker's client in every real estate transaction at the time such transaction is consummated, a complete detailed closing statement showing all of the receipts and disbursements handled by such broker. The listing and selling broker shall retain copies of such statements for at least five (5) years.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 8 - OPERATION OF BROKER COMPANIES AND OTHER PROVISIONS CONCERNING REAL ESTATE PRACTICE › Rule 2 - Listing Agreements, Offers to Purchase and Other Provisions Concerning Real Estate Practice › Section 2-4 - Attendance at closings

Current through July 10, 2024
Authority: IC 25-34.1-2-5; IC 25-34.1-2-5.1
Affected: IC 25-34.1-2-5
Sec. 4.
(a) Except as provided for in subsections (b) through (d), the listing and selling broker shall attend all closings. Instead of attending, the listing and selling broker both may send an associated broker or designate another broker to act on the broker's behalf.
(b) This section shall not apply to closings of commercial property. For purposes of this subsection, "commercial property" shall refer to any property other than one (1) to four (4) family residential.
(c) This section shall not apply if the broker is representing an institutional client such as a financial institution.
(d) This section shall not apply if the party represented by the broker or the party's authorized representative does not personally appear at the closing.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 8 - OPERATION OF BROKER COMPANIES AND OTHER PROVISIONS CONCERNING REAL ESTATE PRACTICE › Rule 2 - Listing Agreements, Offers to Purchase and Other Provisions Concerning Real Estate Practice › Section 2-5 - Restriction on broker acquiring interest in property

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-2-5
Sec. 5.
A broker shall not directly or indirectly buy, offer to buy, sell, or offer to sell, for the broker property listed with the broker or the broker with whom the broker is associated, nor shall the broker acquire any interest in the property without first making the broker's true position clearly known to the owner or owners.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 8 - OPERATION OF BROKER COMPANIES AND OTHER PROVISIONS CONCERNING REAL ESTATE PRACTICE › Rule 2 - Listing Agreements, Offers to Purchase and Other Provisions Concerning Real Estate Practice › Section 2-6 - Disclosure of interest by broker

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-2-5
Sec. 6.
A broker shall not directly or indirectly buy, offer to buy, sell, offer to sell, or receive compensation for real estate in which the broker owns an interest, unless the broker discloses in writing the:
(1) broker's interest in the real estate to all parties to the transaction; and
(2) fact that the broker holds a valid real estate license.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 8 - OPERATION OF BROKER COMPANIES AND OTHER PROVISIONS CONCERNING REAL ESTATE PRACTICE › Rule 2 - Listing Agreements, Offers to Purchase and Other Provisions Concerning Real Estate Practice › Section 2-7 - Incompetent practice

Current through July 10, 2024
Authority: IC 25-34.1-2-5; IC 25-34.1-2-5.1
Affected: IC 22-9; IC 25-34.1
Sec. 7.
Incompetent practice of real estate includes the following:
(1) Failing to account for and remit any funds or documents belonging to others that come into the broker's possession.
(2) Accepting or offering any inducement or rebate for the purpose of obtaining a listing or inducing a sale, where full disclosure in writing has not been given to all parties to the transaction at the time of the offer or acceptance.
(3) Receiving, accepting, or giving an undisclosed direct profit on expenditures made in conjunction with a real estate transaction.
(4) Acting in dual capacity of broker and undisclosed client in any transaction.
(5) Guaranteeing, authorizing, or permitting any person to guarantee future profits that may result from the resale of real property.
(6) Listing or offering real property for sale, exchange, option, rent, or lease without the written consent of, or on any terms other than those authorized by, the owner or the owner's authorized agent.
(7) Inducing any party to a written agency agreement or a contract of sale to breach such agreement or contract for the purpose of substituting a new contract with another person.
(8) Accepting employment or compensation that is contingent upon the issuance of an appraisal report on real estate at a predetermined value.
(9) Issuing an appraisal report on real property in which the broker holds an interest and fails to disclose the interest in writing to all parties.
(10) Soliciting or negotiating, or both, a written agency agreement, a sale, exchange, or lease of real property directly with lessor, lessee, seller, or buyer if the broker knows that the party has a written contract in connection with the property that guarantees an exclusive agency to another broker unless the seller, buyer, lessor, or lessee initiates the action in writing prior to expiration of the agreement.
(11) Except as allowed by 876 IAC 8-1-1(a), as a broker representing, or attempting to represent, more than one (1) Indiana broker company.
(12) Paying a commission to or otherwise compensating a person who is not licensed for performing the services that, by law, require a license.
(13) Committing any act of fraud or material deception while engaged in acts that, by law, require a license.
(14) Otherwise violating IC 25-34.1 or this title.
(15) Having been finally determined to have engaged in an unlawful discriminatory practice under the Indiana Civil Rights Act, IC 22-9.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 8 - OPERATION OF BROKER COMPANIES AND OTHER PROVISIONS CONCERNING REAL ESTATE PRACTICE › Rule 2 - Listing Agreements, Offers to Purchase and Other Provisions Concerning Real Estate Practice › Section 2-8 - Fee appraisals conducted by licensed brokers

Current through July 10, 2024
Authority: IC 25-34.1-2-5.1
Affected: IC 25-34.1
Sec. 8.
Any broker who appraises real estate in Indiana must comply with the Uniform Standards of Professional Appraisal Practice as adopted in 876 IAC 3-6-2 and 876 IAC 3-6-3.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 9 - RESIDENTIAL REAL ESTATE SALES DISCLOSURE › Rule 1 - Residential Real Estate Sales Disclosure › Section 1-1 - Residential real estate sales disclosure

Current through July 10, 2024
Authority: IC 32-21-5-7
Affected: IC 32-21-5-7
Sec. 1.
(a) This rule establishes the seller's residential real estate sales disclosure form provided for in IC 32-21-5-7.
(b) The form appears in section 2 of this rule.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 9 - RESIDENTIAL REAL ESTATE SALES DISCLOSURE › Rule 1 - Residential Real Estate Sales Disclosure › Section 1-2 - Residential sales disclosure; form

Current through July 10, 2024
Authority: IC 32-21-5-7
Affected: IC 32-21-5
Sec. 2.
The following is the seller's residential real estate sales disclosure form:
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Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 10 - CONVICTIONS OF CONCERN › Rule 1 - Convictions of Concern › Section 1-1 - Scope

Current through July 10, 2024
Authority: IC 25-1-1.1-6
Affected: IC 25-1-1.1-6; IC 25-34.1-3
Sec. 1.
This rule implements IC 25-1-1.1-6 regarding convictions of concern that may disqualify an individual for licensure by the Indiana real estate commission, and includes in section 4 of this rule an explicit list of crimes that will disqualify an individual from receiving a license under IC 25-34.1
[IC 25-34.1-3]
.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 10 - CONVICTIONS OF CONCERN › Rule 1 - Convictions of Concern › Section 1-2 - Issuance of license

Current through July 10, 2024
Authority: IC 25-1-1.1-6
Affected: IC 25-1-1.1-6; IC 25-34.1-3
Sec. 2.
An applicant for licensure who has a conviction of concern may still be granted a license based on the criteria stated in IC 25-1-1.1-6(h).
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 10 - CONVICTIONS OF CONCERN › Rule 1 - Convictions of Concern › Section 1-3 - Authority to issue license on probation

Current through July 10, 2024
Authority: IC 25-1-1.1-6
Affected: IC 25-1-1.1-6; IC 25-1-11-19; IC 25-34.1-3
Sec. 3.
This rule and IC 25-1-1.1-6 do not limit the authority of the real estate commission to issue a license on probation if appropriate under IC 25-1-11-19 or any other applicable statute.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 10 - CONVICTIONS OF CONCERN › Rule 1 - Convictions of Concern › Section 1-4 - Convictions of concern

Current through July 10, 2024
Authority: IC 25-1-1.1-6
Affected: IC 6-3-6-11; IC 7.1-5-1-3; IC 7.1-5-7-8; IC 9-26-1-1.1; IC 9-30-5-4; IC 9-30-5-5; IC 11-8-8-17; IC 11-8-8-18; IC 12-17.2-5-1; IC 12-24-17-3; IC 12-24-17-7; IC 16-36-5-27; IC 16-36-5-28; IC 16-42-19; IC 23-0.5-2-9; IC 23-19-5-2; IC 25; IC 31-33-22; IC 31-34-2.3-7; IC 31-34-2.3-8; IC 35
Sec. 4.
This section contains the list of convictions of concern which may disqualify an applicant from licensure:
(1) Crimes involving sexual acts that can be considered without respect to age of conviction are as follows:
(A) Child molesting (IC 35-42-4-3).
(B) Child seduction (IC 35-42-4-7).
(C) Criminal deviate conduct (IC 35-42-4-2) (before its repeal).
(D) Incest (IC 35-46-1-3).
(E) Prostitution (IC 35-45-4-2).
(F) Rape (IC 35-42-4-1).
(G) Sexual misconduct with a minor (IC 35-42-4-9(a)).
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 10 - CONVICTIONS OF CONCERN › Rule 1 - Convictions of Concern › Section 1-5 - Crimes in another jurisdiction

Current through July 10, 2024
Authority: IC 25-1-1.1-6
Affected: IC 25-34.1-3
Sec. 5.
A crime in any other jurisdiction for which the elements of the crime for which conviction was entered are substantially similar to the elements of a crime included on the list in section 4 of this document
[rule]
shall also be a crime that may disqualify an individual from receiving a license and therefore included on the list.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 10 - CONVICTIONS OF CONCERN › Rule 1 - Convictions of Concern › Section 1-6 - Prelicensure determinations; fee

Current through July 10, 2024
Authority: IC 25-1-1.1-6
Affected: IC 25-1-1.1-6; IC 25-34.1-3
Sec. 6.
The fee for a petition under IC 25-1-1.1-6(g) for a determination as to whether the individual's misdemeanor or felony conviction may disqualify the individual from receiving a license or certification shall be twenty-five dollars ($25).
Indiana Administrative Code › Title 877 - REAL ESTATE APPRAISER LICENSURE AND CERTIFICATION BOARD › Article 1 - REAL ESTATE APPRAISAL MANAGEMENT COMPANIES › Rule 1 - General Provisions › Section 1-1 - Fee schedule

Current through July 10, 2024
Authority: IC  25-1-8-2; IC  25-34.1-11-19
Affected: IC  25-34.1-8-7.5
Sec. 1.
(a) This section establishes the fee schedule for the registration of appraisal management companies.
(b) The fee schedule is as follows:
(1) Registration for appraisal management companies: $250.
(2) Renewal of registration for appraisal management companies: $250.
Indiana Administrative Code › Title 878 - HOME INSPECTORS LICENSING BOARD › Article 1 - GENERAL PROVISIONS › Rule 1 - Definitions › Section 1-1 - Applicability

Current through July 10, 2024
Authority: IC
				  25-20.2-3-8
Affected: IC 25-20.2
Sec. 1.
The definitions in this rule apply throughout this
				  article.
Indiana Administrative Code › Title 878 - HOME INSPECTORS LICENSING BOARD › Article 1 - GENERAL PROVISIONS › Rule 1 - Definitions › Section 1-2 - "Alarm systems" defined

Current through July 10, 2024
Authority: IC
				  25-20.2-3-8
Affected: IC 25-20.2
Sec. 2.
"Alarm systems" means warning devices, installed or
				  freestanding, including, but not limited to, the following:
(1) Carbon monoxide detectors.
(2) Flue gas and other spillage
				detectors.
(3) Security
				equipment.
(4) Ejector
				pumps.
(5) Smoke alarms.
Indiana Administrative Code › Title 878 - HOME INSPECTORS LICENSING BOARD › Article 1 - GENERAL PROVISIONS › Rule 1 - Definitions › Section 1-3 - "Architectural service" defined

Current through July 10, 2024
Authority: IC
				  25-20.2-3-8
Affected: IC 25-20.2
Sec. 3.
"Architectural service" means any practice involving the art
				  and science of building design for construction of any structure or grouping of
				  structures and the use of space within and surrounding the structures or the
				  design for construction, including, but not specifically limited to, the
				  following:
(1) Schematic
				design.
(2) Design
				development.
(3) Preparation of
				construction contract documents.
(4) Administration of the construction
				contract.
Indiana Administrative Code › Title 878 - HOME INSPECTORS LICENSING BOARD › Article 1 - GENERAL PROVISIONS › Rule 1 - Definitions › Section 1-4 - "Compensation" defined

Current through July 10, 2024
Authority: IC
				  25-20.2-3-8
Affected: IC 25-20.2
Sec. 4.
"Compensation" means direct or indirect payment, including
				  the expectation of payment whether or not actually received.
Indiana Administrative Code › Title 878 - HOME INSPECTORS LICENSING BOARD › Article 1 - GENERAL PROVISIONS › Rule 1 - Definitions › Section 1-5 - "Component" defined

Current through July 10, 2024
Authority: IC
				  25-20.2-3-8
Affected: IC 25-20.2
Sec. 5.
"Component" means a readily accessible and observable aspect
				  of a system.
Indiana Administrative Code › Title 878 - HOME INSPECTORS LICENSING BOARD › Article 1 - GENERAL PROVISIONS › Rule 1 - Definitions › Section 1-6 - "Decorative" defined

Current through July 10, 2024
Authority: IC
				  25-20.2-3-8
Affected: IC 25-20.2
Sec. 6.
"Decorative" means an item that is not required for the
				  operation of the essential systems and components of a home.
Indiana Administrative Code › Title 878 - HOME INSPECTORS LICENSING BOARD › Article 1 - GENERAL PROVISIONS › Rule 1 - Definitions › Section 1-7 - "Dismantle" defined

Current through July 10, 2024
Authority: IC
				  25-20.2-3-8
Affected: IC 25-20.2
Sec. 7.
"Dismantle" means to take apart or remove any component,
				  device, or piece of equipment that would not be taken apart or removed by a
				  homeowner in the course of normal and routine homeowner
				  maintenance.
Indiana Administrative Code › Title 878 - HOME INSPECTORS LICENSING BOARD › Article 1 - GENERAL PROVISIONS › Rule 1 - Definitions › Section 1-8 - "Engineering service" defined

Current through July 10, 2024
Authority: IC
				  25-20.2-3-8
Affected: IC 25-20.2
Sec. 8.
"Engineering service" means any professional service or
				  creative work requiring engineering education, training, and experience and the
				  application of special knowledge of the mathematical, physical, and engineering
				  sciences to such professional service or creative work as:
(1) consultation;
(2) investigation;
(3) evaluation;
(4) planning;
(5) design; and
(6) supervision;
of construction for the purpose of assuring compliance with
				  the specifications and design, in conjunction with structures, buildings,
				  machines, equipment, works, and processes.
Indiana Administrative Code › Title 878 - HOME INSPECTORS LICENSING BOARD › Article 1 - GENERAL PROVISIONS › Rule 1 - Definitions › Section 1-9 - "Further evaluation" defined

Current through July 10, 2024
Authority: IC
				  25-20.2-3-8
Affected: IC 25-20.2
Sec. 9.
"Further evaluation" means examination and analysis by a
				  qualified professional, tradesman, or service technician beyond that provided
				  by the home inspection.
Indiana Administrative Code › Title 878 - HOME INSPECTORS LICENSING BOARD › Article 1 - GENERAL PROVISIONS › Rule 1 - Definitions › Section 1-10 - "Installed" defined

Current through July 10, 2024
Authority: IC
				  25-20.2-3-8
Affected: IC 25-20.2
Sec. 10.
"Installed" means attached such that removal requires tools.
Indiana Administrative Code › Title 878 - HOME INSPECTORS LICENSING BOARD › Article 1 - GENERAL PROVISIONS › Rule 1 - Definitions › Section 1-11 - "Normal operating controls" defined

Current through July 10, 2024
Authority: IC
				  25-20.2-3-8
Affected: IC 25-20.2
Sec. 11.
"Normal operating controls" means devices, such as
				  thermostats, switches, or valves, intended to be operated by the homeowner.
Indiana Administrative Code › Title 878 - HOME INSPECTORS LICENSING BOARD › Article 1 - GENERAL PROVISIONS › Rule 1 - Definitions › Section 1-12 - "Readily accessible" defined

Current through July 10, 2024
Authority: IC
				  25-20.2-3-8
Affected: IC 25-20.2
Sec. 12.
"Readily accessible" means available for visual inspection
				  without requiring:
(1) moving of
				personal property;
(2)
				dismantling;
(3) destructive
				measures; or
(4) any action that
				will likely involve risk to persons or property.
Indiana Administrative Code › Title 878 - HOME INSPECTORS LICENSING BOARD › Article 1 - GENERAL PROVISIONS › Rule 1 - Definitions › Section 1-13 - "Readily openable access panel" defined

Current through July 10, 2024
Authority: IC
				  25-20.2-3-8
Affected: IC 25-20.2
Sec. 13.
"Readily openable access panel" means a panel provided for
				  homeowner inspection and maintenance that:
(1) is within normal reach;
(2) can be removed by one (1) person;
				and
(3) is not sealed in
				place.
Indiana Administrative Code › Title 878 - HOME INSPECTORS LICENSING BOARD › Article 1 - GENERAL PROVISIONS › Rule 1 - Definitions › Section 1-14 - "Recreational facilities" defined

Current through July 10, 2024
Authority: IC
				  25-20.2-3-8
Affected: IC 25-20.2
Sec. 14.
"Recreational facilities" means the following:
(1) Spas.
(2) Saunas.
(3) Steam baths.
(4) Swimming pools.
(5) Exercise, entertainment, athletic,
				playground, or other similar equipment and associated accessories.
Indiana Administrative Code › Title 878 - HOME INSPECTORS LICENSING BOARD › Article 1 - GENERAL PROVISIONS › Rule 1 - Definitions › Section 1-15 - "Report" defined

Current through July 10, 2024
Authority: IC
				  25-20.2-3-8
Affected: IC
				  25-20.2-2-7
Sec. 15.
"Report" means to communicate, in writing, on all areas
				  required by IC
				  25-20.2-2-7.
Indiana Administrative Code › Title 878 - HOME INSPECTORS LICENSING BOARD › Article 1 - GENERAL PROVISIONS › Rule 1 - Definitions › Section 1-16 - "Representative number" defined

Current through July 10, 2024
Authority: IC
				  25-20.2-3-8
Affected: IC 25-20.2
Sec. 16.
"Representative number" means one (1) component:
(1) per room for multiple similar interior
				components, such as windows and electric outlets; or
(2) on each side of the building for multiple
				similar exterior components.
Indiana Administrative Code › Title 878 - HOME INSPECTORS LICENSING BOARD › Article 1 - GENERAL PROVISIONS › Rule 1 - Definitions › Section 1-17 - "Roof drainage system" defined

Current through July 10, 2024
Authority: IC
				  25-20.2-3-8
Affected: IC 25-20.2
Sec. 17.
"Roof drainage system" means components used to carry water
				  off a roof and away from a building.
Indiana Administrative Code › Title 878 - HOME INSPECTORS LICENSING BOARD › Article 1 - GENERAL PROVISIONS › Rule 1 - Definitions › Section 1-18 - "Shut down" defined

Current through July 10, 2024
Authority: IC
				  25-20.2-3-8
Affected: IC 25-20.2
Sec. 18.
"Shut down" means a state in which a system or component
				  cannot be operated by normal operating controls.
Indiana Administrative Code › Title 878 - HOME INSPECTORS LICENSING BOARD › Article 1 - GENERAL PROVISIONS › Rule 1 - Definitions › Section 1-19 - "Significantly deficient" defined

Current through July 10, 2024
Authority: IC
				  25-20.2-3-8
Affected: IC 25-20.2
Sec. 19.
"Significantly deficient" means unsafe or not
				  functioning.
Indiana Administrative Code › Title 878 - HOME INSPECTORS LICENSING BOARD › Article 1 - GENERAL PROVISIONS › Rule 1 - Definitions › Section 1-20 - "Solid fuel burning appliances" defined

Current through July 10, 2024
Authority: IC
				  25-20.2-3-8
Affected: IC 25-20.2
Sec. 20.
"Solid fuel burning appliances" means a hearth and fire
				  chamber or similar prepared place in which a fire may be built and that is
				  built in conjunction with a chimney or a listed assembly of a fire chamber, its
				  chimney, and related factory-made parts designed for unit assembly without
				  requiring field construction.
Indiana Administrative Code › Title 878 - HOME INSPECTORS LICENSING BOARD › Article 1 - GENERAL PROVISIONS › Rule 1 - Definitions › Section 1-21 - "Structural component" defined

Current through July 10, 2024
Authority: IC
				  25-20.2-3-8
Affected: IC 25-20.2
Sec. 21.
"Structural component" means a component that supports
				  nonvariable forces or weights and variable forces or weights.
Indiana Administrative Code › Title 878 - HOME INSPECTORS LICENSING BOARD › Article 1 - GENERAL PROVISIONS › Rule 1 - Definitions › Section 1-22 - "System" defined

Current through July 10, 2024
Authority: IC
				  25-20.2-3-8
Affected: IC 25-20.2
Sec. 22.
"System" means a combination of interacting or
				  interdependent components assembled to carry out one (1) or more functions.
Indiana Administrative Code › Title 878 - HOME INSPECTORS LICENSING BOARD › Article 1 - GENERAL PROVISIONS › Rule 1 - Definitions › Section 1-23 - "Technically exhaustive" defined

Current through July 10, 2024
Authority: IC
				  25-20.2-3-8
Affected: IC 25-20.2
Sec. 23.
"Technically exhaustive" means an investigation that
				  involves dismantling, the extensive use of advanced techniques, measurements,
				  instruments, testing, calculations, or other means.
Indiana Administrative Code › Title 878 - HOME INSPECTORS LICENSING BOARD › Article 1 - GENERAL PROVISIONS › Rule 1 - Definitions › Section 1-24 - "Underfloor crawlspace" defined

Current through July 10, 2024
Authority: IC
				  25-20.2-3-8
Affected: IC 25-20.2
Sec. 24.
"Underfloor crawlspace" means the area within the confines
				  of the foundation and between the ground and the underside of the floor.
Indiana Administrative Code › Title 878 - HOME INSPECTORS LICENSING BOARD › Article 1 - GENERAL PROVISIONS › Rule 1 - Definitions › Section 1-25 - "Unsafe" defined

Current through July 10, 2024
Authority: IC
				  25-20.2-3-8
Affected: IC 25-20.2
Sec. 25.
"Unsafe" means a condition in a readily accessible,
				  installed system or component that is judged to be a significant risk of
				  personal injury during normal, day-to-day use. The risk may be due to:
(1) damage;
(2) deterioration;
(3) improper installation; or
(4) a change in accepted residential
				construction standards.
Indiana Administrative Code › Title 878 - HOME INSPECTORS LICENSING BOARD › Article 1 - GENERAL PROVISIONS › Rule 2 - Minimum Standards of Competent Practice and Code of Ethics › Section 2-1 - Minimum standards of competent performance of home inspections

Current through July 10, 2024
Authority: IC
				  25-20.2-3-8; IC
				  25-20.2-3-9
Affected: IC
				  25-20.2-2-7
Sec. 1.
(a) The
				competent performance of home inspections requires remaining current with
				generally accepted developments within the area of specialization and the
				development and exercise of judgment as to when to apply specific procedures in
				a reasonable, effective, efficient, and economical manner.
(b) The competent performance of home
				inspections includes acting within generally accepted ethical principles and
				guidelines of the profession and maintaining an awareness of personal and
				professional limitations.
(c)
				Purpose and scope are as follows:
(1)
				Licensees shall:
(A) inspect:
(i) readily accessible systems and components
				of homes listed in these minimum standards of competent performance;
				and
(ii) installed systems and
				components of homes listed in these minimum standards of competent performance;
				and