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DEPARTMENT OF CONSUMER & INDUSTRY SERVICES BUREAU OF COMMERCIAL SERVICES
REAL ESTATE RULES (ORR #2001-071)
June 25, 2002
2501 Woodlake Circle Okemos, Michigan Conference Room 1 10:00 a.m.
The Department of Consumer and Industry Services will hold a public hearing on Tuesday June 25, 2002 at the Bureau of Commercial Services, 2501 Woodlake Circle, Okemos, Michigan, in Conference Room 1 at 10:00
a.m. The hearing is being held to receive comments on proposed changes to the Administrative Rules for Real Estate Broker and Salesperson licensees. Comments can also be made in writing at or prior to the hearing via mail, or electronic-mail at the addresses listed in this notice.
Changes to the rules include: clarification of the definition and authority of principal and non-principal associate brokers; requirements for issuance of broker licenses to a business entity; adding partial credit towards pre- licensure broker education for a masters degree in business administration; expansion of methods of delivery of transaction documents to include electronic communications and digital signatures; procedures for acceptance of commissions and other compensation; handling of deposits and earnest monies in the event of disputes; filing requirements for out-of-state land sales; and adoption of approval standards for distance learning sponsors and institutions to offer real estate education courses through distance learning programs.
The rules [Rule Set 2001-071 CI] are published in the Michigan Register in the June 15, 2002 Issue, and on the Michigan Government Web site at: http://www.michigan.gov/orr. To request print or e-mail copies of the rules, please contact the Department of CIS at the following address:
Department of Consumer & Industry Services Nancy Dixon, Bureau of Commercial Services
P. O. Box 30018 Lansing MI 48909-7518
Phone: 517/241-9219 FAX: 17/241-7539 e-mail: ndixon@michigan.gov
The hearing will be conducted in compliance with the 1990 Americans with Disabilities Act, in an accessible building with handicap parking available. Anyone needing assistance to take part in the hearing may call 517/241-9219 to make arrangements.
