32-2107. Powers and duties of commissioner;
compensation; administration of department; seal; revolving
fund
A. The commissioner shall have charge of the department with power to administer it
in accordance with the provisions of and to carry out the purposes of this chapter. The
commissioner shall adopt a seal which shall bear the words "real estate commissioner,
state of Arizona", which shall be used for the authentication of proceedings of the
department and the official documents thereof. The commissioner's principal office shall
be at the state capitol. The commissioner may have branch offices the commissioner deems
necessary in other cities.
B. The commissioner shall receive compensation as determined pursuant to section
38-611.
C. The commissioner shall prepare and cause to be produced and circulated among the
licensees and the general public educational matter the commissioner deems helpful and
proper for the guidance and assistance of both licensees and the public. The
commissioner may assess a fee for each of these educational products that does not exceed
a level reasonably estimated to be sufficient to recover production and distribution
costs.
D. In cooperation with industry educators, content experts and other professionals,
the commissioner may develop, sponsor or hold educational seminars and workshops for the
benefit of licensees.
E. A real estate department education revolving fund is established consisting of
monies received from the sale of educational matter under subsection C of this section
and grants of monies to be used in the production of educational products. Monies in the
fund shall be used for the printing of a compilation of real estate laws and rules and
other educational publications and for other educational efforts the commissioner deems
helpful and proper for the guidance and assistance of licensees and the public, including
sponsoring and holding educational seminars or workshops for educators and other
licensees. The department shall establish the revolving fund as a separate account. The
department shall make a full accounting of its use to the department of administration
annually or as required by the department of administration. Expenditures from the fund
and reimbursement to the fund shall be as prescribed by rules of the department of
administration. Monies received in the real estate department education revolving fund
are not subject to reversion, except that all monies in the fund in excess of twenty-five
thousand dollars at the end of the fiscal year revert to the state general fund.
F. The commissioner shall adopt rules, in accord with this chapter, as the
commissioner deems necessary to carry out this chapter.
G. The commissioner may approve standardized legal forms for use in the sale or
lease of real estate for the purpose of recognizing compliance of the forms with this
chapter and the rules adopted pursuant to this chapter.
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