ALABAMA REAL ESTATE COMMISSION ADMINISTRATIVE CODE
TABLE OF CONTENTS
790-X-5-.01 Qualifying Broker And Developer Responsible For Accounting Of All Funds
790-X-5-.02 Executive Director May Issue Cease And Desist Order
790-X-5-.01 Qualifying Broker And Developer Responsible For_Accounting Of All Funds. The qualifying broker and the developer of a registered timesharing plan shall be mutually responsible for the carrying out of the following functions:
(a) The deposit and accounting of all monies coming into their possession or that of any agent of either of them, where such monies are received regarding the lease, sale, transfer, occupancy or development of the timesharing plan or facility;
(b) The deposit into an appropriate escrow account of all monies required under Alabama law to be so deposited; and
(c) The refund of purchase money or other money to any and all persons entitled to such refund within the time period designated by Alabama law. If no time period is designated by law, then any such refund will be made within ten (10) days after the date on which the qualifying broker or developer receives notice that such refund is entitled.
(d) Further, the qualifying broker for any branch office of the timesharing plan shall also be responsible for the above listed functions regarding the activities of his respective branch office.
Author: Edward M. George
Statutory Authority: Code of Ala. 1975, §§ 34-27-53, 34-27-54, 34-27-55, 34-27-58, 34-27-62.
History: Filed July 24, 1984.
790-X-5-.02 Executive Director May Issue Cease And Desist_Order. The Executive Director of the Alabama Real Estate Commission shall have the authority to issue, in the name of the Commission, a temporary cease and desist order in any matter subject to a cease and desist order under the provisions of Code of Ala. 1975, § 34-27-68(6).
Application for Real Estate Salesperson's Temporary License
Course Information Form for Approved Real Estate Courses
Roster for Reporting Course Enrollment
Application for Real Estate Instructor
Application for Continuing Education Instructor Approval
45-hour Prelicense Course Certificate of Completion
15-hour Broker Prelicense Course
30-Hour Post License Course Certificate of Completion
Continuing Education Course Certificate of Completion
Form 19 al1954
Author: Edward M. George
Statutory Authority: Code of Ala. 1975, §§ 34-27-62, 34-27-68.
History: Filed July 24, 1984.