reglab/statecodes huggingface dataset:
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 370 - CONTINUING EDUCATION › Section 039-370-1 - Policy Statement

Current through 2024-29, July 17, 2024
The Commission shall encourage the development and delivery
				  of high quality real estate educational programs, and, in an effort to
				  stimulate opportunity for professional growth of licensees, shall encourage
				  development and delivery of programs at graduated levels of study.
In reviewing and approving a program application, the
				  Director shall consider:
A. Program
				content as it contributes to the ability of the licensee to serve and meet the
				needs of his clients and customers;
B. Program content as it assists a licensee
				to keep informed concerning real estate laws, regulations, and
				practices;
C. Geographic
				availability to licensees.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 370 - CONTINUING EDUCATION › Section 039-370-2 - Definition of Terms

Current through 2024-29, July 17, 2024
A. Real Estate
				Educational Program. Real estate educational program shall be defined as a
				planned learning experience of at least two (2) hours, designed to promote
				development of knowledge, skills, and attitudes pertaining to real estate
				brokerage.
B. Program Sponsor. A
				Program Sponsor shall be defined as that individual, group of individuals, or
				organization responsible for the development, coordination, administration and
				delivery of a program.
C. Program
				Instructor. A Program Instructor shall be defined as an individual appointed to
				impart knowledge or information to licensees participating in a
				program.
D. Distance Education. A
				continuing education distance education course is a program whereby instruction
				does not take place in a traditional classroom setting but rather where teacher
				and student are apart and instruction takes place through other media. Distance
				education programs include but are not limited to those which are presented
				through interactive classrooms, computer conferencing, interactive computer,
				the internet and by written correspondence course.
E. Core Educational Requirement. A core
				educational requirement shall be defined as a three hour course which includes
				all of the Commission approved components for a core course. The commission
				prescribed curriculum for this course may be obtained from the
				Director.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 370 - CONTINUING EDUCATION › Section 039-370-3 - Program Criteria

Current through 2024-29, July 17, 2024
A. Subject Matter.
				Consistent with
				 32 M.R.S.A.
				§13197, the following real estate
				related topics shall be acceptable subject matter for educational programs:
1. Property valuation;
2. Construction;
3. Contract and agency law;
4. Financing and investments;
5. Land use, planning, zoning and other
				public limitations on ownership;
6.
				Landlord-tenant relationships;
7.
				License laws, rules and standards of professional practice;
8. Taxation;
9. Timeshares, condominiums and
				cooperatives;
10. Staff supervision
				and training;
11. Office
				management;
12. Any additional
				topic which is approved by the Director.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 370 - CONTINUING EDUCATION › Section 039-370-4 - Administrative Procedure

Current through 2024-29, July 17, 2024
A. Applications. An
				application adopted by the Commission for program approval shall be furnished
				by the Director. This application shall require information on the following:
1. Sponsor;
2. Instructor qualifications;
3. Content and methodology;
4. Length of program;
5. Learning objectives;
6. Assessment of learning
				objectives;
7. Requirement for
				completion.
The completed application and the fee shall be submitted to
				  the Director. Applications submitted after the first course session will be
				  assessed a late filing fee.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 370 - CONTINUING EDUCATION › Section 039-370-5 - Program Advertisement

Current through 2024-29, July 17, 2024
An advertisement for an educational program shall include the
				  following:
A. A course description
				sufficient to identify the subject matter to be covered;
B. Identification of the level of
				instruction;
C. Identification of
				the method or format of instruction;
D. A statement of program objectives;
				and
E. Notice indicating the
				program has been approved by the Director for continuing education and the
				number of clock hours to be received upon satisfactory completion of the
				program.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 370 - CONTINUING EDUCATION › Section 039-370-6 - Advance Notice to Program Participants

Current through 2024-29, July 17, 2024
Upon commencement of each program, participants shall be
				  informed of the following:
"This program has been approved by the Director of the Real
				  Estate Commission for clock hours toward fulfillment of the educational
				  requirements for renewal of a real estate license.
"The Commission is interested in the quality and delivery of
				  educational programs which are offered to licensees and, therefore, welcomes
				  and encourages comments regarding program subject matter and quality of the
				  delivery of the program."
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 370 - CONTINUING EDUCATION › Section 039-370-7 - Limitations on Obtaining Clock Hours

Current through 2024-29, July 17, 2024
A. A licensee
				shall complete an educational program in its entirety in order to be eligible
				for continuing education approval.
B. A licensee, for purposes of renewal or
				reactivation, shall use only those clock hours which were accumulated during
				the two (2) years immediately preceding such renewal or activation.
C. An instructor who teaches an approved
				program shall receive clock hour approval for that program only once.
D. Licensees who wish to use a continuing
				education distance education course to activate or renew a real estate license
				must complete the distance education course with a minimum grade of
				85%.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 370 - CONTINUING EDUCATION › Section 039-370-8 - Approval of Individual Requests

Current through 2024-29, July 17, 2024
A. An Educational
				Program in Which a Sponsor Has Not Submitted An Application for Director
				Approval. The Director shall consider, on an individual basis, a request by a
				licensee for approval of a program for which the sponsor did not seek approval,
				but in which the licensee participated. Approval of such a request shall be
				subject to the program meeting the standards and criteria required by the
				Director for other educational programs. The licensee shall be responsible for
				submitting to the Director a completed program application and fee.
B. Research and Real Estate Related Projects.
				A licensee may obtain continuing education clock hours, for real estate related
				research from which a report, article, or thesis results, or for participation
				in real estate related projects, provided that the director finds that the
				effort has enhanced the ability of the licensee to meet the needs of his
				clients and customers. The licensee shall be responsible for submitting
				documentation and the fee for individual review to the Director.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 370 - CONTINUING EDUCATION › Section 039-370-10 - Core Educational Requirement

Current through 2024-29, July 17, 2024
A. As of January 1, 1994, no real estate
				license may be renewed or activated unless the licensee has completed a three
				hour continuing education program approved as meeting the core educational
				requirement.
B. The Commission, on
				an annual basis, shall review the prescribed curriculum for the core
				educational requirement.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 390 - LICENSING PROCEDURES AND REQUIREMENTS › Section 039-390-1 - Expiration of Sales Agent License Examination Results

Current through 2024-29, July 17, 2024
An applicant qualifying for a sales agent license shall apply
				  for licensure within one year of the date of passing the examination. In the
				  absence of proper application for licensure, the applicant shall be required to
				  meet all of the requirements for licensure as set forth in Chapter 360, Section
				  4(3) of the board's
				  rules for new applicants, including the provisions of this
				  Section.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 390 - LICENSING PROCEDURES AND REQUIREMENTS › Section 039-390-2 - Transcript Requirement

Current through 2024-29, July 17, 2024
An applicant who seeks to qualify for licensure through
				  educational requirements shall accompany such application for licensure with an
				  official transcript. A transcript shall include, but shall not be limited to,
				  the following:
1. Title of
				course;
2. Date of completion of
				course;
3. Numeric grade received;
				and
4. Signature of the authorized
				official.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 390 - LICENSING PROCEDURES AND REQUIREMENTS › Section 039-390-3 - Criminal History Records of Applicant

Current through 2024-29, July 17, 2024
In determining eligibility for a license the Commission, in
				  accordance with 5 MRSA Chapter 341, shall take into consideration criminal
				  history records of the applicant.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 390 - LICENSING PROCEDURES AND REQUIREMENTS › Section 039-390-4 - Nonresident License Applicants

Current through 2024-29, July 17, 2024
A nonresident license applicant, upon making application for
				  license, shall furnish a certificate of licensure from each state in which he
				  holds a real estate license, evidencing the type of license held, the date of
				  original licensure and a statement indicating that any complaints filed against
				  him have been resolved to the satisfaction of the licensing
				  agency.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 390 - LICENSING PROCEDURES AND REQUIREMENTS › Section 039-390-6 - Reporting New Designated Brokers

Current through 2024-29, July 17, 2024
An agency which changes its designated broker shall report
				  such change to the director as required by
				   32 MRSA
				  §13195.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 390 - LICENSING PROCEDURES AND REQUIREMENTS › Section 039-390-7 - Waiver to 2-Year Sales Agent License

Current through 2024-29, July 17, 2024
A sales agent license may be extended, due to extenuating
				  circumstances, for one year beyond the 2-year requirement. A request for such
				  waiver shall be made in writing and shall include an explanation and supporting
				  evidence of the extenuating circumstance. The request shall be accompanied by
				  the Sales Agent fee and this fee shall be retained whether or not the waiver is
				  granted. The request shall be evaluated by the director.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 400 - AGENCY/DESIGNATED BROKER RESPONSIBILITIES › Section 039-400-1 - Responsibilities of Designated Broker

Current through 2024-29, July 17, 2024
1. Generally
The designated broker shall supervise the activities of
				  affiliated licensees, the activities of unlicensed persons affiliated with the
				  real estate brokerage agency and the operation of the real estate brokerage
				  agency. The supervision includes, at a minimum, the establishment of policies
				  and procedures that enable the designated broker to review, manage and oversee
				  the following:
A. The real estate
				transactions performed by an affiliated licensee;
B. Documents that may have a material effect
				upon the rights or obligations of a party to a real estate
				transaction;
C. The filing, storage
				and maintenance of such documents;
D. The handling of money received by the real
				estate brokerage agency for the parties to a real estate transaction;
E. The advertising of any service for which a
				real estate license is required;
F.
				The familiarization by the affiliated licensee with the requirements of federal
				and state law governing real estate transactions; and
G. The dissemination, in a timely manner, to
				affiliated licensees of all regulatory information received by the real estate
				brokerage agency pertaining to the practice of real estate brokerage.
H. The registration of any domain name for a
				web site in order to promote real estate brokerage services or the sale or
				purchase of real estate through the agency; and
I. The development or uploading to the
				internet of a web site that promotes real estate brokerage services or the sale
				or purchase of real estate through the agency.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 400 - AGENCY/DESIGNATED BROKER RESPONSIBILITIES › Section 039-400-2 - Real Estate Trust Accounts

Current through 2024-29, July 17, 2024
1. Definition of
				"Earnest Money Deposit"
As used in this Section, the term "earnest money deposit"
				  includes earnest money deposits and all other money held by the real estate
				  brokerage agency for clients or other persons for purposes related to a real
				  estate brokerage transaction.
2. Various Forms of Real Estate Trust
				Accounts
A real estate trust account shall be in the form of a
				  checking or savings account and may accrue interest on an earnest money deposit
				  provided that the accumulated interest is properly disbursed. If the parties to
				  the transaction agree to place the earnest money deposit in something other
				  than a real estate trust account, the real estate brokerage agency shall not
				  hold the funds or act as trustee.
3. Opening a Real Estate Trust Account
The real estate trust account checks and bank statements must
				  contain the real estate brokerage agency's trade name as licensed by the
				  commission and must be imprinted with the words "real estate trust
				  account."
4. Making Earnest
				Money Deposits
An earnest money deposit received by a designated broker, as
				  trustee, shall be deposited within 5 business days of acceptance of the offer.
				  Other earnest money deposits received by the trustee shall be deposited within
				  5 business days of the trustee's receipt of such earnest money deposits.
5. Restrictions on Earnest Money
				Deposits in Real Estate Trust Accounts
A designated broker shall not commingle the earnest money
				  deposit of buyers or sellers in a real estate transaction with:
A. Funds belonging to the real estate
				brokerage agency. This provision shall not be construed to limit deposits made
				by the real estate brokerage agency of an amount sufficient to maintain the
				account, but such amount shall not exceed $500; or
B. Funds held for persons that do not involve
				the sale, purchase or exchange of real estate.
An earnest money deposit shall not be utilized prior to a
				  closing for selling or buying expenses such as a title fee, survey, etc.,
				  unless agreed to in writing by all parties in the transaction. There shall be a
				  proper accounting for all monies held by the real estate brokerage agency and
				  any remittance shall be made within a reasonable time, but not more than 30
				  days, after the conclusion of the transaction.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 400 - AGENCY/DESIGNATED BROKER RESPONSIBILITIES › Section 039-400-3 - Record Retention Schedules; Format

Current through 2024-29, July 17, 2024
1.
				Generally
All real estate brokerage records, including real estate
				  trust account and supporting records, transaction files, and other
				  brokerage-related records, are to be under the control of the designated broker
				  and made available to the director upon request. Except for rejected offers and
				  counteroffers, which must be kept for one year from the date of the rejected
				  offer or counteroffer, the following records must be kept by the designated
				  broker for 3 calendar years after all funds held by the designated broker in
				  connection with a transaction have been disbursed to the proper party or until
				  the conclusion of the transaction, whichever last occurs:
A. The original or a true copy of all
				purchase and sale contracts;
B.
				Listing or buyer brokerage representation agreements, appointed agent consent
				forms, disclosed dual agent consent forms and the Real Estate Relationships
				Form required under Chapter 410, Section 9 of the Commission's rules;
C. Property disclosure forms, data sheets and
				other property information prepared by the real estate brokerage agency or one
				of its affiliated licensees to promote property for sale or purchase;
D. Real Estate Trust Account ledger records,
				as listed in Section
				2(7) of this chapter;
				and
E. Real Estate Trust Account
				reconciliation records, as listed in Section
				2(8) of this
				chapter.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 400 - AGENCY/DESIGNATED BROKER RESPONSIBILITIES › Section 039-400-4 - Examinations for Compliance with Licensing Laws

Current through 2024-29, July 17, 2024
A real estate brokerage office may be examined for compliance
				  with licensing laws once each licensing period, as necessary as part of an
				  investigation of a complaint filed with the director or may be examined upon
				  receipt of prima facie evidence indicating improper use of a real estate trust
				  account. The designated broker shall produce for inspection by an authorized
				  representative of the Commission any document or record reasonably necessary
				  for investigation or audit in the enforcement of 32 MRSA Chapter 114 and in
				  enforcement of the rules promulgated by the Commission. Failure to submit such
				  documents or records as requested by the director shall be grounds for
				  disciplinary action. The examiner shall notify the agency of the results of
				  such office examination and may file a complaint.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 410 - MINIMUM STANDARDS OF PRACTICE › Section 039-410-1 - Advertising

Current through 2024-29, July 17, 2024
1.
Definitions
A.
Advertise
. "Advertise,"
				"advertising" and "advertisement" include all forms of representation,
				promotion and solicitation disseminated in any manner and by any means of
				communication for any purpose related to real estate brokerage activity,
				including, at a minimum, advertising the sale or purchase of real estate or
				promotion of real estate brokerage services conducted by mail, telephone, the
				Internet (including but not limited to the world wide web, electronic mail and
				social media), business cards, signs, television, radio, magazines, newspapers,
				and telephonic greetings or answering machine messages.
B.
(Repealed)
C.
Prominent
. "Prominent" means
				standing out so as to be seen easily; conspicuous; particularly noticeable.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 410 - MINIMUM STANDARDS OF PRACTICE › Section 039-410-2 - Acting in Self Interest

Current through 2024-29, July 17, 2024
A licensee holding an active real estate license shall
				  disclose, in the offer to purchase, that the licensee is a real estate
				  licensee:
1. When buying real estate
				not listed with a real estate brokerage agency;
2. When buying real estate listed with the
				licensee's real estate brokerage agency; or
3. When buying real estate and sharing in the
				brokerage fee resulting from the sale of such real estate.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 410 - MINIMUM STANDARDS OF PRACTICE › Section 039-410-3 - Market Value

Current through 2024-29, July 17, 2024
1.
When
				Opinion Permitted
A licensee may provide a free opinion of value to a buyer or
				  seller when the licensee is soliciting the buyer or seller to provide brokerage
				  services and before an agreement to provide any services has been reached or
				  executed.
2.
When
				Advice Prohibited
At any time after the solicitation to provide brokerage
				  services, as described in Section
				  3(1) of this chapter,
				  a transaction broker may not provide advice to either party regarding market
				  value.
3.
Provision
				of Comparable Market Data
A licensee who provides comparable market data to a buyer or
				  seller for the buyer or seller to determine market value or list price is
				  performing a ministerial act as defined in
				  32 MRSA
				  §13271(9).
4.
Factors or Conditions
				That May Impact Client's Interest
A licensee who represents a buyer or seller client shall
				  advise the client of any factors or conditions actually known by the licensee,
				  or if acting in a reasonable manner, should have been known by the licensee,
				  that may materially impact the client's interest as it pertains to the market
				  value of real estate.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 410 - MINIMUM STANDARDS OF PRACTICE › Section 039-410-4 - Net Listing Prohibited

Current through 2024-29, July 17, 2024
A net listing shall be prohibited. A net listing is a type
				  of listing in which the real estate brokerage agency receives, as commission,
				  all excess money over and above the minimum sale price set by the seller.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 410 - MINIMUM STANDARDS OF PRACTICE › Section 039-410-5 - Duty to Furnish Real Estate Brokerage Related Documents

Current through 2024-29, July 17, 2024
A licensee shall furnish copies of brokerage agreements,
				  offers, counteroffers, and all types of contracts to all parties at the time of
				  their signatures. Upon obtaining a written acceptance of an offer or
				  counteroffer to purchase real estate, a licensee shall, within a reasonable
				  time, deliver true, legible copies of the purchase and sale contract, signed by
				  the seller and buyer, to both seller and buyer.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 410 - MINIMUM STANDARDS OF PRACTICE › Section 039-410-6 - Disclosure of Real Estate Brokerage Agency Compensation Policy

Current through 2024-29, July 17, 2024
1.
Other Agencies
Written brokerage agreements must include a statement
				  disclosing the real estate brokerage agency's policy on cooperating with and
				  compensating other real estate brokerage agencies in the sale or purchase of
				  real estate. If the real estate brokerage agency's policy is not to compensate
				  all other real estate brokerage agencies in the same manner, this policy must
				  be included in the statement and include a notice to the buyer or seller that
				  this policy may limit the participation of other real estate brokerage agencies
				  in the marketplace.
2.
Affiliated Licensees
When a real estate brokerage agency's policy on paying
				  commissions to its affiliated licensees provides for an incentive to an
				  affiliated licensee for a greater commission for an in-house sale versus
				  transactions involving a cooperating real estate brokerage agency, this policy
				  must be disclosed in a written brokerage agreement with a buyer or seller.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 410 - MINIMUM STANDARDS OF PRACTICE › Section 039-410-7 - Disclosed Dual Agency

Current through 2024-29, July 17, 2024
A real estate brokerage agency which has a written company
				  policy that permits disclosed dual agency shall obtain the informed written
				  consent, as set forth in
				   32 MRSA
				  §13275, of the seller or buyer to the
				  disclosed dual agency relationship at the time of entering into a written
				  brokerage agreement that creates an agent-client relationship.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 410 - MINIMUM STANDARDS OF PRACTICE › Section 039-410-8 - Appointed Agent Procedures and Disclosure

Current through 2024-29, July 17, 2024
1.
Designated Broker Responsibilities - Appointed Agent
A. A designated broker appointing an
				affiliated licensee(s) to act as an agent of a client shall take ordinary and
				necessary care to protect confidential information disclosed by the client to
				the appointed agent.
B. An
				appointed agent may disclose to the agency's designated broker, or a designee
				specified by the designated broker, confidential information of a client for
				the purpose of seeking advice or assistance for the benefit of the client in
				regard to a possible transaction. Confidential information shall be treated as
				such by the designated broker or other specified representative of the broker
				and shall not be disclosed unless otherwise required by 32 MRSA Chapter 114 or
				related rules or requested or permitted by the client who originally disclosed
				the confidential information.
C. A
				designated broker who is appointed to act as the agent of the client must
				select a designee to fulfill the responsibilities as listed in Section
				8(1)(B)  of this
				chapter.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 410 - MINIMUM STANDARDS OF PRACTICE › Section 039-410-9 - Real Estate Brokerage Relationship Disclosure Procedures

Current through 2024-29, July 17, 2024
1.
Real Estate Brokerage Relationships
				Form
The Commission incorporates into this chapter by reference
				  the Real Estate Brokerage Relationships Form attached to this chapter. (Maine
				  Real Estate Commission Form #3 revised 07/06).
2.
Obligation to Furnish Real Estate
				Brokerage Relationships Form
Except as provided in Section
				  9(3) of this chapter,
				  a licensee shall furnish a prospective buyer or seller with a copy of the Real
				  Estate Brokerage Relationships Form when there is substantive communication
				  regarding a real estate transaction by either a face-to-face meeting, a written
				  communication, or an electronic communication with the prospective buyer or
				  seller.
3.
Exceptions
A licensee is not required to provide a copy of the form to
				  a prospective buyer or seller in the following instances:
A. The real estate is land without a
				residential dwelling unit or is land with more than 4 residential dwelling
				units;
B. The licensee is acting
				solely as a principal in a real estate transaction;
C. The written communication from the
				licensee is a solicitation of business; or
D. The licensee has knowledge, or may
				reasonably assume, that another licensee has given a copy of the form to a
				prospective buyer or seller in that transaction.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 410 - MINIMUM STANDARDS OF PRACTICE › Section 039-410-10 - Solicitation of Written Brokerage Agreements

Current through 2024-29, July 17, 2024
A licensee shall not solicit a written brokerage agreement
				  from a seller or buyer if the licensee knows, or acting in a reasonable manner
				  should have known, that the buyer or seller has contracted with another real
				  estate brokerage agency for the same real estate brokerage services on an
				  exclusive basis. This Section does not preclude a real estate brokerage agency
				  from entering into a written brokerage agreement with a seller or buyer, when
				  the initial contact is initiated by the seller or buyer, provided that the
				  written brokerage agreement does not become effective until the expiration or
				  release of the previous written brokerage agreement.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 410 - MINIMUM STANDARDS OF PRACTICE › Section 039-410-11 - Inducements

Current through 2024-29, July 17, 2024
The offering of a free gift, prize, money or other valuable
				  consideration by a real estate brokerage agency or affiliated licensee as an
				  inducement shall be free from deception, and shall not serve to distort the
				  true value of the real estate or the service being promoted. Any limitations or
				  conditions of the offering must be prominently displayed or presented. In an
				  offering that appears on or is sent via the Internet, any limitations or
				  conditions of the offering must prominently appear in the offering itself, or
				  in a page view or window that is directly and immediately accessible via a link
				  in the offering. The link must be identified by words such as "limitations,"
				  "conditions," or "terms of offer" and must prominently appear in the offering.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 410 - MINIMUM STANDARDS OF PRACTICE › Section 039-410-12 - Confidentiality of Offers and Purchase and Sale Contract Terms

Current through 2024-29, July 17, 2024
During the pendency of the transaction, the real estate
				  brokerage agency or affiliated licensee shall not disclose any terms of an
				  offer, counteroffer or purchase and sale contract to anyone other than the
				  buyer and seller without the prior written permission of the buyer and seller,
				  except said documents shall be made available to the director of the Commission
				  upon request.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 410 - MINIMUM STANDARDS OF PRACTICE › Section 039-410-13 - Licensee's Duty

Current through 2024-29, July 17, 2024
1.
Keep the
				Designated Broker Informed
An affiliated licensee shall keep the designated broker
				  fully informed of all activities conducted on behalf of the agency and shall
				  notify the designated broker of any other activities that might impact on the
				  responsibilities of the designated broker as required under Chapter 400,
				  Section l of the Commission's rules.
2.
Provide Documents to Designated
				Broker
An affiliated licensee must provide originals or true copies
				  of all real estate brokerage documents and records prepared in a real estate
				  transaction as listed in Chapter 400, Section
				  3 of the Commission's rules to the
				  designated broker within 5 calendar days after execution of the document or
				  record.
3.
Domain
				Names and Web Sites
An affiliated licensee may not directly or indirectly,
				  through himself or others -
- register a domain name for a web site, or
- develop or upload to the internet a web site,
that promotes real estate brokerage services or the sale or
				  purchase of real estate through the agency with whom the licensee is affiliated
				  without the consent of the designated broker.
Any web site developed or uploaded under this Section must
				  comply with the advertising requirements contained in Chapter 410, Section 1.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 410 - MINIMUM STANDARDS OF PRACTICE › Section 039-410-14 - Licensee's Duty to Obtain and Provide Disclosure Information on Private Water Supply, Heating, Waste Disposal System and Known Hazardous Materials

Current through 2024-29, July 17, 2024
1.
Listing Licensee
A listing licensee shall be responsible for obtaining
				  information necessary to make disclosures, as set forth in Sections
				  15 to
				  18 of this chapter, to buyers and
				  shall make a reasonable effort to assure that the information is conveyed to a
				  selling licensee.
2.
Selling Licensee
A selling licensee shall be responsible for obtaining from
				  the listing licensee the information necessary for making disclosures, as set
				  forth in Sections
				  15 to
				  18 of this chapter, and for assuring
				  that the disclosures are made to buyers.
3.
Unlisted Property
A licensee shall be responsible for obtaining from the
				  seller in a real estate brokerage transaction where the property is not listed
				  with a real estate brokerage agency, the information necessary for making
				  disclosures, as set forth in Sections
				  15 to
				  18 of this chapter, and for assuring
				  that the disclosures are made to the buyer.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 410 - MINIMUM STANDARDS OF PRACTICE › Section 039-410-15 - Private Water Supply Disclosure

Current through 2024-29, July 17, 2024
A licensee listing a single-family residential property, a
				  multifamily property, a residential lot or a commercial property with a
				  residential component served by a private water supply, and a licensee in such
				  transactions when the property is not listed with a real estate brokerage
				  agency, shall ask the seller for the following information:
1. Type of system;
2. Location;
3. Malfunctions;
4. Date of installation;
5. Date of most recent water test; and
6. Whether or not the seller has
				experienced a problem such as an unsatisfactory water test or a water test with
				notations.
Such information and any other information pertinent to the
				  private water supply shall be conveyed, in writing, to a buyer prior to or
				  during preparation of an offer. The fact that information regarding the private
				  water supply is not available shall also be conveyed, in writing, when such is
				  the case.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 410 - MINIMUM STANDARDS OF PRACTICE › Section 039-410-16 - Heating Disclosure

Current through 2024-29, July 17, 2024
A licensee listing a single-family residential property, a
				  multifamily property or a commercial property with a residential component, and
				  a licensee in such transactions when the property is not listed with a real
				  estate brokerage agency, shall ask the seller for the following information
				  regarding the heating system(s) and/or source(s):
1. Type(s);
2. Age of system/source(s);
3. Name of company who services
				system/source(s);
4. Date of most
				recent service call;
5. Annual
				consumption per system/source (i.e. gallons, kilowatt hours, cords);
6. Malfunctions per system/source within the
				past 2 years.
Such information and any other information pertinent to the
				  heating system(s) and/or source(s) shall be conveyed, in writing, to a buyer
				  prior to or during the preparation of an offer. The fact that information
				  pertinent to the heating system(s) and/or source(s) is not available shall be
				  conveyed, in writing, when such is the case.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 410 - MINIMUM STANDARDS OF PRACTICE › Section 039-410-17 - Waste Disposal System Disclosure

Current through 2024-29, July 17, 2024
1.
Private Waste Disposal System
A licensee listing a single-family residential property, a
				  multifamily property, a residential lot or a commercial property with a
				  residential component served by a private waste disposal system, and a licensee
				  in such transactions when the property is not listed with a real estate
				  brokerage agency, shall ask the seller for the following information:
A. Type of system;
B. Size of tank;
C. Type of tank;
D. Location of tank;
E. Malfunctions of tank;
F. Date of installation of tank;
G. Location of leach field;
H. Malfunctions of leach field;
I. Date of installation of leach field;
J. Date of most recent servicing
				of system; and
K. Name of the
				contractor who services the system.
Such information and any other information pertinent to the
				  waste disposal system shall be conveyed, in writing, to a buyer prior to or
				  during preparation of an offer. The fact that information regarding the waste
				  disposal system is not available shall also be conveyed, in writing, when such
				  is the case.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 410 - MINIMUM STANDARDS OF PRACTICE › Section 039-410-18 - Known Hazardous Materials Disclosure

Current through 2024-29, July 17, 2024
1.
Duty to Keep Informed
A licensee shall keep informed of any federal, state or local
				  laws, rules, regulations or ordinances concerning known hazardous materials
				  that may impact negatively upon the health and well being of buyers and
				  sellers.
2.
Duty to
				Disclose
A listing licensee, and a licensee in transactions when the
				  property is not listed with a real estate brokerage agency, shall disclose, in
				  writing, whether the seller makes any representations regarding current or
				  previously existing known hazardous materials on or in the real estate. In
				  addition, the licensee shall give a written statement to the buyer encouraging
				  the buyer to seek information from professionals regarding any specific
				  hazardous material issue or concern. Such written representation and statement
				  shall be conveyed to a buyer prior to or during the preparation of an offer.
3.
Request for
				Information from Seller
A licensee listing a single-family residential property, a
				  multifamily property, a commercial property with a residential component and a
				  licensee in such transactions when the property is not listed with a real
				  estate brokerage agency, shall ask the seller whether the seller has any
				  knowledge of current or previously existing asbestos, radon, lead based paint,
				  and underground storage tanks. Such information and any other information
				  pertinent to hazardous materials shall be conveyed, in writing, to a buyer
				  prior to or during preparation of an offer. The fact that information regarding
				  hazardous materials is not available shall also be conveyed, in writing, when
				  such is the case.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 039 - REAL ESTATE COMMISSION › Chapter 410 - MINIMUM STANDARDS OF PRACTICE › Section 039-410-19 - Referral Fees

Current through 2024-29, July 17, 2024
1.
Certain
				Referral Fees Prohibited
A licensee may not receive compensation or other valuable
				  consideration from a title company, lender or closing company or any affiliated
				  employee for directing a buyer or seller in a real estate transaction to a
				  company or an individual for financing, title or closing services.
2.
Disclosure of Certain
				Referral Fees Required
A licensee who anticipates receiving compensation or other
				  valuable consideration from a company or person for a referral of services,
				  other than the services listed in Section
				  19(1) of this
				  chapter or real estate brokerage services, to a buyer or seller during a real
				  estate brokerage transaction may not accept such compensation or valuable
				  consideration unless the licensee discloses in writing to the person paying for
				  such service, and to the client if not the same person, that the licensee
				  anticipates receiving such compensation or other valuable compensation for such
				  referral.
[APA Office Note: the Real Estate Brokerage Relationships
				  Form is a separate file in Adobe .pdf format.]
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 041 - OFFICE OF PROFESSIONAL AND OCCUPATIONAL REGULATION (OPOR) › Chapter 1 - REGISTRATION APPLICATIONS AND FINANCIAL STATEMENTS › Section 041-1-1 - Registration of Charitable Organizations, Professional Solicitors, Professional Fund-raising Counsel, and Commercial Co-venturers

Current through 2024-29, July 17, 2024
A.
				Registration applications are available from the Office. Renewal forms will be
				mailed to the registrant at its last known address at least 30 days in advance
				of the expiration date of the current registration.
B. A parent organization that files a
				consolidated registration statement for its affiliates, chapters, and branches
				shall list on the registration statement (or on an attached sheet) the name and
				address of each affiliate, chapter, and branch on behalf of which it is
				filing.
C. Each professional
				solicitor, professional fund-raising counsel, and commercial co-venturer is
				required to submit with the application a surety bond, whose expiration date
				shall not be earlier than November 30th of the following year and whose limit
				shall be not less than $25,000.
D.
				Each charitable organization, professional solicitor, professional fund-raising
				counsel and commercial co-venturer shall file, by September 30th of each year,
				the annual fundraising activity report required by
				
				9 M.R.S.A.
				§§5005-B(1) and
				5008(3-A)
				for the preceding calendar year. A registrant who fails to file the report is
				subject to disciplinary action and may be ineligible for renewal.
E. All renewal applications shall be filed no
				later than November 30 of each year and shall be accompanied by the
				registration fee established in Chapter 10, Section
				10
				of the rules of the Office.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 041 - OFFICE OF PROFESSIONAL AND OCCUPATIONAL REGULATION (OPOR) › Chapter 1 - REGISTRATION APPLICATIONS AND FINANCIAL STATEMENTS › Section 041-1-2 - Financial Statement [9 M.R.S.A. Section 5004 (4)(D-1)]

Current through 2024-29, July 17, 2024
A.
Form
A charitable organization shall include a financial statement
				  covering its most recently audited fiscal year as part of its renewal
				  application. A charitable organization required to file Internal Revenue
				  Service Form 990 and Schedule A forms or a 990EZ form shall include the form(s)
				  as part of its renewal application.
B.
Independent public
				accountant
The financial statement must be audited by an accountant
				  licensed by the Maine Board of Accountancy or authorized to practice accounting
				  by the appropriate regulatory body in another jurisdiction. Each financial
				  statement must be accompanied by a statement under oath or affirmation that the
				  preparer is authorized to practice accounting and setting forth the dates of
				  the authorization and the state or other jurisdiction in which the accountant
				  is authorized to practice.
C. Standards of accounting
The financial statement shall include:
a balance sheet;
										 a statement of support, revenue, expenses and changes
					 in fund balance;
										 a statement of functional expenses which, at a
					 minimum, are broken into the following categories:
o program,
o management and general,
o fundraising; and
such other information as the Office may
					 require.
The financial statement shall be prepared in accordance with
				  generally accepted accounting principles. The Office may accept, under such
				  conditions as it may prescribe, statements or returns filed with another state
				  having similar requirements.
D.
Incomplete financial
				statement
If a financial statement appears to be incomplete or
				  otherwise deficient, the Office may forward the statement to the Maine Board of
				  Accountancy, the Committee on Consultation and Review of the Maine Society of
				  Public Accountants, the Maine State Department of Audit, or any number of them
				  for review and comment. The Office shall notify a charitable organization if
				  its financial statement is deemed incomplete or otherwise deficient, and the
				  charitable organization will be given an opportunity to supplement or correct
				  the statement. If the statement is not supplemented or corrected within a
				  reasonable time, then the renewal application may be denied.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 041 - OFFICE OF PROFESSIONAL AND OCCUPATIONAL REGULATION (OPOR) › Chapter 2 - ANNUAL FUNDRAISING ACTIVITY REPORTS › Section 041-2-1 - Charitable Organizations

Current through 2024-29, July 17, 2024
A charitable organization shall use the total dollar amount
				  of contributions raised, contributions retained by all professional solicitors,
				  and contributions remitted to the charitable organization in calculating the
				  annual percentages of contributions retained and remitted.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 041 - OFFICE OF PROFESSIONAL AND OCCUPATIONAL REGULATION (OPOR) › Chapter 2 - ANNUAL FUNDRAISING ACTIVITY REPORTS › Section 041-2-2 - Professional Solicitors

Current through 2024-29, July 17, 2024
A professional solicitor shall use the total dollar amount of
				  contributions it raised, the total dollar amount it retained, and the total
				  dollar amount it remitted to charitable organizations in calculating the annual
				  percentages of contributions retained and remitted.
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 041 - OFFICE OF PROFESSIONAL AND OCCUPATIONAL REGULATION (OPOR) › Chapter 2 - ANNUAL FUNDRAISING ACTIVITY REPORTS › Section 041-2-3 - Illustration of Calculation: The correct and incorrect procedures for calculating annual percentages are illustrated below

Current through 2024-29, July 17, 2024
Annual Fundraising
							 Activity Report - Calculation Example
Campaign
$ Raised
$ Remitted
% Remitted
$ Retained
% Retained
#1
$1,000
$900
90%
$100
10%
#2
$10,000
$100
1%
$9,900
99%
Total
$11,000
$1,000
$10,000
Correct:
% Remitted =
$1,000 / $11,000 =
9%
$990
% Retained =
$10,000 / $11,000 =
91%
$10,010
Total % =
100%
$11,000
Incorrect:
% Remitted =
$11,000 (91% / 2) or
$11,000 x 45% =
$4,950
% Retained =
$11,000 (109% / 2) or
$11,000 x 55% =
$6,050
Total % =
100%
$11,000
Code of Maine Rules › 02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION › 041 - OFFICE OF PROFESSIONAL AND OCCUPATIONAL REGULATION (OPOR) › Chapter 3 - ENFORCEMENT AND DISCIPLINARY PROCEDURES › Section 041-3-1 - Appeal of Registration Denial

Current through 2024-29, July 17, 2024
Any denial or refusal to renew a registration may be appealed
				  to the Office. The applicant must file the appeal with the Office, in writing,
				  within 30 days of receipt of notice of the action being appealed. An
				  adjudicatory hearing will be scheduled by the Office upon receipt of a timely
				  appeal. Non-timely appeals will be denied without hearing.