IC 25-34.1-3-1 Registration or license requirements; fees or charges
Sec. 1. Any agency or political subdivision of the state other than
the commission may not impose any registration or license
requirement or any license or employment fee or charge on licensees
on account of activities defined in IC 25-34.1. As added by Acts 1979, P.L.248, SEC.1.
IC 25-34.1-3-2 Transactions without license; prohibition; exemption
Sec. 2. (a) Except as provided in:
(1) subsection (b);
(2) section 8(i) of this chapter; and
(3) section 11 of this chapter;
no person shall, for consideration, sell, buy, trade, exchange, option,
lease, rent, manage, list, or appraise real estate or negotiate or offer
to perform any of those acts in Indiana or with respect to real estate
situated in Indiana, without a license.
(b) This article does not apply to:
(1) acts of an attorney which constitute the practice of law;
(2) performance by a public official of acts authorized by law;
(3) acts of a receiver, executor, administrator, commissioner,
trustee, or guardian, respecting real estate owned or leased by
the person represented, performed pursuant to court order or a
will;
(4) rental, for periods of less than thirty (30) days, of rooms,
lodging, or other accommodations, by any commercial hotel,
motel, tourist facility, or similar establishment which regularly
furnishes such accommodations for consideration;
(5) rental of residential apartment units by an individual
employed or supervised by a licensed broker;
(6) rental of apartment units which are owned and managed by
a person whose only activities regulated by this article are in
relation to a maximum of twelve (12) apartment units which are
located on a single parcel of real estate or on contiguous parcels
of real estate;
(7) referral of real estate business by a broker, salesperson, or
referral company which is licensed under the laws of another
state, to or from brokers and salespersons licensed by this state;
(8) acts performed by a person in relation to real estate owned
by that person unless that person is licensed under this article,
in which case the article does apply to him;
(9) acts performed by a regular, full-time, salaried employee of
a person in relation to real estate owned or leased by that person
unless the employee is licensed under this article, in which case
the article does apply to him;
(10) conduct of a sale at public auction by a licensed auctioneer
pursuant to IC 25-6.1;
(11) sale, lease, or other transfer of interests in cemetery lots;
and
(12) acts of a broker or salesperson, who is licensed under the
laws of another state, which are performed pursuant to, and
under restrictions provided by, written permission that is
granted by the commission in its sole discretion, except that
such a person shall comply with the requirements of section
5(c) of this chapter. As added by Acts 1979, P.L.248, SEC.1. Amended by Acts 1982,
P.L.156, SEC.1; P.L.183-1991, SEC.6; P.L.64-2004, SEC.17.
IC 25-34.1-3-3
Repealed
(Repealed by Acts 1982, P.L.156, SEC.4.)
IC 25-34.1-3-3.1 Requirements for salesperson's license
Sec. 3.1. (a) To obtain a salesperson license, an individual must:
(1) be at least eighteen (18) years of age before applying for a
license and must not have a conviction for:
(A) an act that would constitute a ground for disciplinary
sanction under IC 25-1-11;
(B) a crime that has a direct bearing on the individual's
ability to practice competently; or
(C) a crime that indicates the individual has the propensity
to endanger the public;
(2) have successfully completed courses in the principles,
practices, and law of real estate, totaling eight (8) semester
credit hours, or their equivalent, as a student at an accredited
college or university or have successfully completed an
approved salesperson course as provided in IC 25-34.1-5-5(a);
(3) apply for a license by submitting the fee prescribed by the
commission and an application containing the name, address,
and age of the applicant, the name under which the applicant
intends to conduct business, the principal broker's address
where the business is to be conducted, proof of compliance with
subdivision (2), and any other information the commission
requires;
(4) pass a written examination prepared and administered by the
commission or its duly appointed agent; and
(5) submit not more than one (1) year after passing the written
examination under subdivision (4) a sworn certification of a
principal broker that the principal broker intends to associate
with the applicant and maintain that association until notice of
termination of the association is given to the commission.
(b) Upon the applicant's compliance with the requirements of
subsection (a), the commission shall:
(1) issue a wall certificate in the name of the salesperson to the
principal broker who certified the applicant's association with
the principal broker; and
(2) issue to the salesperson a pocket identification card which
certifies that the salesperson is licensed and indicates the
expiration date of the license and the name of the principal
broker.
(c) A salesperson shall:
(1) act under the auspices of the principal broker responsible for
that salesperson's conduct under this article;
(2) be associated with only one (1) principal broker;
(3) maintain evidence of licensure in the office, branch office,
or sales outlet of the principal broker;
(4) advertise only in the name of the principal broker, with the
principal broker's name in letters of advertising larger than that
of the salesperson's name; and
(5) not maintain any real estate office apart from that office
provided by the principal broker.
(d) Upon termination of a salesperson's association with a
principal broker, the salesperson's license shall be returned to the
commission within five (5) business days. The commission shall
reissue the license to any principal broker whose certification, as
prescribed in subsection (a)(5), is filed with the commission, and the
commission shall issue a new identification card to the salesperson
reflecting that change.
(e) Unless a license is renewed, a salesperson license expires on
a date specified by the licensing agency under IC 25-1-6-4 and
expires biennially after the initial expiration date. An applicant for
renewal shall submit an application in the manner prescribed by the
board and pay the renewal fee established by the board under
IC 25-1-8-2 on or before the renewal date specified by the licensing
agency. If the holder of a license does not renew the license by the
date specified by the licensing agency, the license expires and
becomes invalid without the board taking any action.
(f) If the holder of a license under this section fails to renew the
license on or before the date specified by the licensing agency, the
license may be reinstated by the commission if the holder of the
license, not later than three (3) years after the expiration of the
license, meets the requirements of IC 25-1-8-6(c).
(g) If a license under this section has been expired for more than
three (3) years, the license may be reinstated by the commission if
the holder meets the requirements for reinstatement under
IC 25-1-8-6(d).
(h) A salesperson license may be issued to an individual who is
not yet associated with a principal broker but who otherwise meets
the requirements of subsection (a). A license issued under this
subsection shall be held by the commission in an unassigned status
until the date the individual submits the certification of a principal
broker required by subsection (a)(5). If the individual does not
submit the application for licensure within one (1) year after passing
the commission examination, the commission shall void the
application and may not issue a license to that applicant unless the
applicant again complies with the requirements of subsection (a)(4)
through (a)(5).
(i) If an individual holding a salesperson license is not associated
with a principal broker for two (2) successive renewal periods, the
commission shall notify the individual in writing that the individual's
license will become void if the individual does not associate with a
principal broker within thirty (30) days from the date the notification
is mailed. A void license may not be renewed. As added by Acts 1982, P.L.156, SEC.2. Amended by P.L.255-1987,
SEC.2; P.L.214-1993, SEC.82; P.L.128-1994, SEC.2; P.L.236-1995,
SEC.49; P.L.182-1996, SEC.1; P.L.194-2005, SEC.85;
P.L.157-2006, SEC.71; P.L.105-2008, SEC.62.
IC 25-34.1-3-4
Repealed
(Repealed by Acts 1982, P.L.156, SEC.4.)
IC 25-34.1-3-4.1 Requirements for broker's license
Sec. 4.1. (a) To obtain a broker license, an individual must:
(1) be at least eighteen (18) years of age before applying for a
license and must not have a conviction for:
(A) an act that would constitute a ground for disciplinary
sanction under IC 25-1-11;
(B) a crime that has a direct bearing on the individual's
ability to practice competently; or
(C) a crime that indicates the individual has the propensity
to endanger the public;
(2) have satisfied section 3.1(a)(2) of this chapter and have had
continuous active experience for one (1) year immediately
preceding the application as a licensed salesperson in Indiana.
However, this one (1) year experience requirement may be
waived by the commission upon a finding of equivalent
experience;
(3) have successfully completed an approved broker course of
study as prescribed in IC 25-34.1-5-5(b);
(4) apply for a license by submitting the application fee
prescribed by the commission and an application specifying the
name, address, and age of the applicant, the name under which
the applicant intends to conduct business, the address where the
business is to be conducted, proof of compliance with
subdivisions (2) and (3), and any other information the
commission requires;
(5) pass a written examination prepared and administered by the
commission or its duly appointed agent; and
(6) within one (1) year after passing the commission
examination, submit the license fee established by the
commission under IC 25-1-8-2. If an individual applicant fails
to file a timely license fee, the commission shall void the
application and may not issue a license to that applicant unless
that applicant again complies with the requirements of
subdivisions (4) and (5) and this subdivision.
(b) To obtain a broker license, a partnership must:
(1) have as partners only individuals who are licensed brokers;
(2) have at least one (1) partner who:
(A) is a resident of Indiana; or
(B) is a principal broker under IC 25-34.1-4-3(b);
(3) cause each employee of the partnership who acts as a broker
or salesperson to be licensed; and
(4) submit the license fee established by the commission under
IC 25-1-8-2 and an application setting forth the name and
residence address of each partner and the information
prescribed in subsection (a)(4).
(c) To obtain a broker license, a corporation must:
(1) have a licensed broker:
(A) residing in Indiana who is either an officer of the
corporation or, if no officer resides in Indiana, the highest
ranking corporate employee in Indiana with authority to bind
the corporation in real estate transactions; or
(B) who is a principal broker under IC 25-34.1-4-3(b);
(2) cause each employee of the corporation who acts as a broker
or salesperson to be licensed; and
(3) submit the license fee established by the commission under
IC 25-1-8-2, an application setting forth the name and residence
address of each officer and the information prescribed in
subsection (a)(4), a copy of the certificate of incorporation, and
a certificate of good standing of the corporation issued by the
secretary of state.
(d) To obtain a broker license, a limited liability company must:
(1) if a member-managed limited liability company:
(A) have as members only individuals who are licensed
brokers; and
(B) have at least one (1) member who is:
(i) a resident of Indiana; or
(ii) a principal broker under IC 25-34.1-4-3(b);
(2) if a manager-managed limited liability company, have a
licensed broker:
(A) residing in Indiana who is either a manager of the
company or, if no manager resides in Indiana, the highest
ranking company officer or employee in Indiana with
authority to bind the company in real estate transactions; or
(B) who is a principal broker under IC 25-34.1-4-3(b);
(3) cause each employee of the limited liability company who
acts as a broker or salesperson to be licensed; and
(4) submit the license fee established by the commission under
IC 25-1-8-2 and an application setting forth the information
prescribed in subsection (a)(4), together with:
(A) if a member-managed company, the name and residence
address of each member; or
(B) if a manager-managed company, the name and residence
address of each manager, or of each officer if the company
has officers.
(e) Licenses granted to partnerships, corporations, and limited
liability companies are issued, expire, are renewed, and are effective
on the same terms as licenses granted to individual brokers, except
as provided in subsection (h), and except that expiration or
revocation of the license of:
(1) any partner in a partnership or all individuals in a
corporation satisfying subsection (c)(1); or
(2) a member in a member-managed limited liability company
or all individuals in a manager-managed limited liability
company satisfying subsection (d)(2);
terminates the license of that partnership, corporation, or limited
liability company.
(f) Upon the applicant's compliance with the requirements of
subsection (a), (b), or (c), the commission shall issue the applicant a
broker license and an identification card which certifies the issuance
of the license and indicates the expiration date of the license. The
license shall be displayed at the broker's place of business.
(g) Unless the license is renewed, a broker license expires, for
individuals, on a date specified by the licensing agency under
IC 25-1-6-4 and expires biennially after the initial expiration date.
An applicant for renewal shall submit an application in the manner
prescribed by the board and pay the renewal fee established by the
commission under IC 25-1-8-2 on or before the renewal date
specified by the licensing agency. If the holder of a license does not
renew the license by the date specified by the licensing agency, the
license expires and becomes invalid without the board taking any
action.
(h) If the holder of a license under this section fails to renew the
license on or before the date specified by the licensing agency, the
license may be reinstated by the commission if the holder of the
license, not later than three (3) years after the expiration of the
license, meets the requirements of IC 25-1-8-6(c).
(i) If a license under this section has been expired for more than
three (3) years, the license may be reinstated by the commission if
the holder meets the requirements for reinstatement under
IC 25-1-8-6(d).
(j) A partnership, corporation, or limited liability company may
not be a broker-salesperson except as authorized in IC 23-1.5. An
individual broker who associates as a broker-salesperson with a
principal broker shall immediately notify the commission of the
name and business address of the principal broker and of any
changes of principal broker that may occur. The commission shall
then change the address of the broker-salesperson on its records to
that of the principal broker. As added by Acts 1982, P.L.156, SEC.3. Amended by P.L.255-1987,
SEC.3; P.L.5-1988, SEC.139; P.L.214-1993, SEC.83; P.L.128-1994,
SEC.3; P.L.229-1995, SEC.6; P.L.236-1995, SEC.50; P.L.182-1996,
SEC.2; P.L.64-2004, SEC.18; P.L.194-2005, SEC.86; P.L.157-2006,
SEC.72; P.L.105-2008, SEC.63.
IC 25-34.1-3-5 Licensing of nonresident; consent to service of process; waiver
Sec. 5. (a) A resident of another state, meeting the requirements
of this chapter, may be licensed.
(b) A nonresident salesperson or broker shall file with the
commission a written consent that any action arising out of the
conduct of the licensee's business in Indiana may be commenced in
any county of this state in which the cause of action accrues. The
consent shall provide that service of process may be made upon the
commission, as agent for the nonresident licensee, and that service
in accordance with the Indiana Rules of Trial Procedure subjects the
licensee to the jurisdiction of the courts in that county.
(c) The requirements of this section may be waived for individuals
of or moving from other jurisdictions if the following requirements
are met:
(1) The jurisdiction grants the same privilege to the licensees of
this state.
(2) The individual is licensed in that jurisdiction.
(3) The licensing requirements of that jurisdiction are
substantially similar to the requirements of this chapter.
(4) The applicant states that the applicant has studied, is
familiar with, and will abide by the statutes and rules of this
state. As added by Acts 1979, P.L.248, SEC.1. Amended by P.L.255-1987,
SEC.4; P.L.64-2004, SEC.19.
IC 25-34.1-3-6 Change of name, business address, or association of licensee or
principal broker
Sec. 6. Each licensee and each licensee's principal broker, if any,
shall notify the commission immediately of any change of name,
name under which the licensee transacts business, business address,
or association. As added by Acts 1979, P.L.248, SEC.1.
IC 25-34.1-3-7
Repealed
(Repealed by Acts 1981, P.L.222, SEC.296.)
IC 25-34.1-3-8 Real estate appraiser licensure and certification program;
necessity for licensure or certification
Sec. 8. (a) This section does not preclude a person who:
(1) is not licensed or certified as a real estate appraiser under
this section; and
(2) is licensed as a broker under this article;
from appraising real estate in Indiana for compensation.
(b) As used in this section, "federal act" refers to Title XI of the
Financial Institutions Reform, Recovery, and Enforcement Act (12
U.S.C. 3331 through 3351).
(c) The commission shall adopt rules to establish a real estate
appraiser licensure and certification program to be administered by
the board.
(d) The commission may not adopt rules under this section except
upon the action and written recommendations of the board under
IC 25-34.1-8-6.5.
(e) The real estate appraiser licensure and certification program
established by the commission under this section must meet the
requirements of:
(1) the federal act;
(2) any federal regulations adopted under the federal act; and
(3) any other requirements established by the commission as
recommended by the board, including requirements for
education, experience, examination, reciprocity, and temporary
practice.
(f) The real estate appraiser licensure and certification
requirements established by the commission under this section must
require a person to meet the standards for real estate appraiser
certification and licensure established:
(1) under the federal act;
(2) by federal regulations; and
(3) under any other requirements established by the commission
as recommended by the board, including requirements for
education, experience, examination, reciprocity, and temporary
practice.
(g) The commission may require continuing education as a
condition of renewal for real estate appraiser licensure and
certification.
(h) The following are not required to be a licensed or certified real
estate appraiser to perform the requirements of IC 6-1.1-4:
(1) A county assessor.
(2) A township assessor.
(3) An employee of a county or township assessor.
(i) Notwithstanding IC 25-34.1-3-2(a):
(1) only a person who receives a license or certificate issued
under the real estate appraiser licensure and certification
program established under this section may appraise real estate
involved in transactions governed by:
(A) the federal act; and
(B) any regulations adopted under the federal act;
as determined under rules adopted by the commission, as
recommended by the board; and
(2) a person who receives a license or certificate issued under
the real estate appraiser licensure and certification program
established under this section may appraise real estate not
involved in transactions governed by:
(A) the federal act; and
(B) any regulations adopted under the federal act;
as determined under rules adopted by the commission, as
recommended by the board. As added by P.L.186-1990, SEC.12. Amended by P.L.183-1991,
SEC.7; P.L.57-2007, SEC.3; P.L.146-2008, SEC.530.
IC 25-34.1-3-9
Repealed
(Repealed by P.L.57-2007, SEC.9.)
IC 25-34.1-3-9.5 Fees; real estate appraiser licensure and certification program
Sec. 9.5. (a) The commission shall establish fees under
IC 25-1-8-2 to implement section 8 of this chapter.
(b) Notwithstanding IC 25-1-8-2, a fee established under
IC 25-1-8-2 to implement section 8 of this chapter may not be less
than fifty dollars ($50).
(c) The commission shall establish fees to provide funding for the
investigative fund established by IC 25-34.1-8-7.5. The fees under
this subsection may not be more than twenty dollars ($20).
(d) The board may collect a fee required by federal law and
transmit the fees to the federal government as required by federal
law.
(e) A fee described in subsection (a) is in addition to any fees
required by federal law. As added by P.L.57-2007, SEC.4.
IC 25-34.1-3-10 Inactive license requirements; continuing education; reactivation
requirements
Sec. 10. (a) A salesperson licensed under section 3.1 of this
chapter or a broker licensed under section 4.1 of this chapter may
apply for and receive an inactive license from the commission.
(b) An individual may not be granted an inactive license without
the approval of the commission if a disciplinary or suspension
hearing is pending against the individual.
(c) An individual with an inactive license:
(1) may not perform an act that requires a salesperson or
broker's license;
(2) is not required to fulfill the continuing education
requirements under IC 25-34.1-9;
(3) is required to pay any fees that a licensee is required to pay;
and
(4) must fulfill the requirements under IC 25-34.1-9-11 for the
current licensing period before applying for reactivation of the
individual's license.
(d) Notwithstanding IC 25-34.1-9-11(2), the commission may
adopt rules under IC 4-22-2 establishing continuing education
requirements for individuals who have reactivated a license with less
than twelve (12) months remaining in the licensing period. As added by P.L.120-1992, SEC.1. Amended by P.L.157-2006,
SEC.73.
IC 25-34.1-3-11 Acts permitted by unlicensed out-of-state commercial broker;
written consent
Sec. 11. (a) An out-of-state commercial broker, for a fee,
commission, or other valuable consideration, or in expectation, or
upon the promise of receiving or collecting a fee, commission, or
other valuable consideration, may perform acts with respect to
commercial real estate that require a license under this article
without a license under this article, if the out-of-state commercial
broker does all of the following:
(1) Works in cooperation with a broker who holds a valid
license issued under this article.
(2) Enters into a written agreement with the broker described in
subdivision (1) that includes the terms of cooperation and
compensation and a statement that the out-of-state commercial
broker and the broker's agents will comply with the laws of this
state.
(3) Furnishes the broker described in subdivision (1) with a
copy of the out-of-state commercial broker's current certificate
of good standing or other proof of a license in good standing
from a jurisdiction where the out-of-state commercial broker
maintains a valid real estate license.
(4) Files an irrevocable written consent with the commission
that legal actions arising out of the conduct of the out-of-state
commercial broker or the broker's agents may be commenced
against the out-of-state commercial broker in a court with
jurisdiction in a county in Indiana in which the cause of action
accrues.
(5) Advertises in compliance with state law and includes the
name of the broker described in subdivision (1) in all
advertising.
(6) Deposits all escrow funds, security deposits, and other
money received by either the out-of-state commercial broker or
the broker described in subdivision (1) in a trust account
maintained by the broker described in subdivision (1).
(7) Deposits all documentation required by this section and
records and documents related to the transaction with the broker
described in subdivision (1).
(b) The broker described in subsection (a)(1) shall retain the
documentation that is provided by the out-of-state commercial broker
as required under this section, and the records and documents related
to a transaction, for at least five (5) years.
(c) An out-of-state commercial salesperson may perform acts with
respect to commercial real estate that require a salesperson to be
licensed under this article without a license under this article if the
out-of-state commercial salesperson meets all of the following
requirements:
(1) The out-of-state commercial salesperson:
(A) is licensed with and works under the direct supervision
of the out-of-state commercial broker;
(B) provides the broker described in subsection (a)(1) with
a copy of the out-of-state commercial salesperson's current
certificate of good standing or other proof of a license in
good standing from the jurisdiction where the out-of-state
commercial salesperson maintains a valid real estate license
in connection with the out-of-state commercial broker; and
(C) collects money, including:
(i) commissions;
(ii) deposits;
(iii) payments;
(iv) rentals; or
(v) escrow funds;
only in the name of and with the consent of the out-of-state
commercial broker under whom the out-of-state commercial
salesperson is licensed.
(2) The out-of-state commercial broker described in subdivision
(1)(A) meets all of the requirements of subsection (a).
(d) A person licensed in a jurisdiction where there is not a legal
distinction between a real estate broker license and a real estate
salesperson license must meet the requirements of subsection (a)
before engaging in an act that requires a license under this article.
(e) An out-of-state commercial broker or salesperson acting under
this section shall file a written consent as provided in section 5(b) of
this chapter. As added by P.L.64-2004, SEC.20.
IC 25-34.1-3-12 Criminal convictions
Sec. 12. A licensee who is convicted of a crime (as defined in
IC 33-23-1-4) shall send a copy of the:
(1) complaint or other information that describes the crime; and
(2) judgment of conviction;
to the commission not more than thirty (30) days after the date of the
conviction. As added by P.L.87-2006, SEC.3.
IC 25-34.1-3-1 Registration or license requirements; fees or charges
Sec. 1. Any agency or political subdivision of the state other than
the commission may not impose any registration or license
requirement or any license or employment fee or charge on licensees
on account of activities defined in IC 25-34.1. As added by Acts 1979, P.L.248, SEC.1.
IC 25-34.1-3-2 Transactions without license; prohibition; exemption
Sec. 2. (a) Except as provided in:
(1) subsection (b);
(2) section 8(i) of this chapter; and
(3) section 11 of this chapter;
no person shall, for consideration, sell, buy, trade, exchange, option,
lease, rent, manage, list, or appraise real estate or negotiate or offer
to perform any of those acts in Indiana or with respect to real estate
situated in Indiana, without a license.
(b) This article does not apply to:
(1) acts of an attorney which constitute the practice of law;
(2) performance by a public official of acts authorized by law;
(3) acts of a receiver, executor, administrator, commissioner,
trustee, or guardian, respecting real estate owned or leased by
the person represented, performed pursuant to court order or a
will;
(4) rental, for periods of less than thirty (30) days, of rooms,
lodging, or other accommodations, by any commercial hotel,
motel, tourist facility, or similar establishment which regularly
furnishes such accommodations for consideration;
(5) rental of residential apartment units by an individual
employed or supervised by a licensed broker;
(6) rental of apartment units which are owned and managed by
a person whose only activities regulated by this article are in
relation to a maximum of twelve (12) apartment units which are
located on a single parcel of real estate or on contiguous parcels
of real estate;
(7) referral of real estate business by a broker, salesperson, or
referral company which is licensed under the laws of another
state, to or from brokers and salespersons licensed by this state;
(8) acts performed by a person in relation to real estate owned
by that person unless that person is licensed under this article,
in which case the article does apply to him;
(9) acts performed by a regular, full-time, salaried employee of
a person in relation to real estate owned or leased by that person
unless the employee is licensed under this article, in which case
the article does apply to him;
(10) conduct of a sale at public auction by a licensed auctioneer
pursuant to IC 25-6.1;
(11) sale, lease, or other transfer of interests in cemetery lots;
and
(12) acts of a broker or salesperson, who is licensed under the
laws of another state, which are performed pursuant to, and
under restrictions provided by, written permission that is
granted by the commission in its sole discretion, except that
such a person shall comply with the requirements of section
5(c) of this chapter. As added by Acts 1979, P.L.248, SEC.1. Amended by Acts 1982,
P.L.156, SEC.1; P.L.183-1991, SEC.6; P.L.64-2004, SEC.17.
IC 25-34.1-3-3
Repealed
(Repealed by Acts 1982, P.L.156, SEC.4.)
IC 25-34.1-3-3.1 Requirements for salesperson's license
Sec. 3.1. (a) To obtain a salesperson license, an individual must:
(1) be at least eighteen (18) years of age before applying for a
license and must not have a conviction for:
(A) an act that would constitute a ground for disciplinary
sanction under IC 25-1-11;
(B) a crime that has a direct bearing on the individual's
ability to practice competently; or
(C) a crime that indicates the individual has the propensity
to endanger the public;
(2) have successfully completed courses in the principles,
practices, and law of real estate, totaling eight (8) semester
credit hours, or their equivalent, as a student at an accredited
college or university or have successfully completed an
approved salesperson course as provided in IC 25-34.1-5-5(a);
(3) apply for a license by submitting the fee prescribed by the
commission and an application containing the name, address,
and age of the applicant, the name under which the applicant
intends to conduct business, the principal broker's address
where the business is to be conducted, proof of compliance with
subdivision (2), and any other information the commission
requires;
(4) pass a written examination prepared and administered by the
commission or its duly appointed agent; and
(5) submit not more than one (1) year after passing the written
examination under subdivision (4) a sworn certification of a
principal broker that the principal broker intends to associate
with the applicant and maintain that association until notice of
termination of the association is given to the commission.
(b) Upon the applicant's compliance with the requirements of
subsection (a), the commission shall:
(1) issue a wall certificate in the name of the salesperson to the
principal broker who certified the applicant's association with
the principal broker; and
(2) issue to the salesperson a pocket identification card which
certifies that the salesperson is licensed and indicates the
expiration date of the license and the name of the principal
broker.
(c) A salesperson shall:
(1) act under the auspices of the principal broker responsible for
that salesperson's conduct under this article;
(2) be associated with only one (1) principal broker;
(3) maintain evidence of licensure in the office, branch office,
or sales outlet of the principal broker;
(4) advertise only in the name of the principal broker, with the
principal broker's name in letters of advertising larger than that
of the salesperson's name; and
(5) not maintain any real estate office apart from that office
provided by the principal broker.
(d) Upon termination of a salesperson's association with a
principal broker, the salesperson's license shall be returned to the
commission within five (5) business days. The commission shall
reissue the license to any principal broker whose certification, as
prescribed in subsection (a)(5), is filed with the commission, and the
commission shall issue a new identification card to the salesperson
reflecting that change.
(e) Unless a license is renewed, a salesperson license expires on
a date specified by the licensing agency under IC 25-1-6-4 and
expires biennially after the initial expiration date. An applicant for
renewal shall submit an application in the manner prescribed by the
board and pay the renewal fee established by the board under
IC 25-1-8-2 on or before the renewal date specified by the licensing
agency. If the holder of a license does not renew the license by the
date specified by the licensing agency, the license expires and
becomes invalid without the board taking any action.
(f) If the holder of a license under this section fails to renew the
license on or before the date specified by the licensing agency, the
license may be reinstated by the commission if the holder of the
license, not later than three (3) years after the expiration of the
license, meets the requirements of IC 25-1-8-6(c).
(g) If a license under this section has been expired for more than
three (3) years, the license may be reinstated by the commission if
the holder meets the requirements for reinstatement under
IC 25-1-8-6(d).
(h) A salesperson license may be issued to an individual who is
not yet associated with a principal broker but who otherwise meets
the requirements of subsection (a). A license issued under this
subsection shall be held by the commission in an unassigned status
until the date the individual submits the certification of a principal
broker required by subsection (a)(5). If the individual does not
submit the application for licensure within one (1) year after passing
the commission examination, the commission shall void the
application and may not issue a license to that applicant unless the
applicant again complies with the requirements of subsection (a)(4)
through (a)(5).
(i) If an individual holding a salesperson license is not associated
with a principal broker for two (2) successive renewal periods, the
commission shall notify the individual in writing that the individual's
license will become void if the individual does not associate with a
principal broker within thirty (30) days from the date the notification
is mailed. A void license may not be renewed. As added by Acts 1982, P.L.156, SEC.2. Amended by P.L.255-1987,
SEC.2; P.L.214-1993, SEC.82; P.L.128-1994, SEC.2; P.L.236-1995,
SEC.49; P.L.182-1996, SEC.1; P.L.194-2005, SEC.85;
P.L.157-2006, SEC.71; P.L.105-2008, SEC.62.
IC 25-34.1-3-4
Repealed
(Repealed by Acts 1982, P.L.156, SEC.4.)
IC 25-34.1-3-4.1 Requirements for broker's license
Sec. 4.1. (a) To obtain a broker license, an individual must:
(1) be at least eighteen (18) years of age before applying for a
license and must not have a conviction for:
(A) an act that would constitute a ground for disciplinary
sanction under IC 25-1-11;
(B) a crime that has a direct bearing on the individual's
ability to practice competently; or
(C) a crime that indicates the individual has the propensity
to endanger the public;
(2) have satisfied section 3.1(a)(2) of this chapter and have had
continuous active experience for one (1) year immediately
preceding the application as a licensed salesperson in Indiana.
However, this one (1) year experience requirement may be
waived by the commission upon a finding of equivalent
experience;
(3) have successfully completed an approved broker course of
study as prescribed in IC 25-34.1-5-5(b);
(4) apply for a license by submitting the application fee
prescribed by the commission and an application specifying the
name, address, and age of the applicant, the name under which
the applicant intends to conduct business, the address where the
business is to be conducted, proof of compliance with
subdivisions (2) and (3), and any other information the
commission requires;
(5) pass a written examination prepared and administered by the
commission or its duly appointed agent; and
(6) within one (1) year after passing the commission
examination, submit the license fee established by the
commission under IC 25-1-8-2. If an individual applicant fails
to file a timely license fee, the commission shall void the
application and may not issue a license to that applicant unless
that applicant again complies with the requirements of
subdivisions (4) and (5) and this subdivision.
(b) To obtain a broker license, a partnership must:
(1) have as partners only individuals who are licensed brokers;
(2) have at least one (1) partner who:
(A) is a resident of Indiana; or
(B) is a principal broker under IC 25-34.1-4-3(b);
(3) cause each employee of the partnership who acts as a broker
or salesperson to be licensed; and
(4) submit the license fee established by the commission under
IC 25-1-8-2 and an application setting forth the name and
residence address of each partner and the information
prescribed in subsection (a)(4).
(c) To obtain a broker license, a corporation must:
(1) have a licensed broker:
(A) residing in Indiana who is either an officer of the
corporation or, if no officer resides in Indiana, the highest
ranking corporate employee in Indiana with authority to bind
the corporation in real estate transactions; or
(B) who is a principal broker under IC 25-34.1-4-3(b);
(2) cause each employee of the corporation who acts as a broker
or salesperson to be licensed; and
(3) submit the license fee established by the commission under
IC 25-1-8-2, an application setting forth the name and residence
address of each officer and the information prescribed in
subsection (a)(4), a copy of the certificate of incorporation, and
a certificate of good standing of the corporation issued by the
secretary of state.
(d) To obtain a broker license, a limited liability company must:
(1) if a member-managed limited liability company:
(A) have as members only individuals who are licensed
brokers; and
(B) have at least one (1) member who is:
(i) a resident of Indiana; or
(ii) a principal broker under IC 25-34.1-4-3(b);
(2) if a manager-managed limited liability company, have a
licensed broker:
(A) residing in Indiana who is either a manager of the
company or, if no manager resides in Indiana, the highest
ranking company officer or employee in Indiana with
authority to bind the company in real estate transactions; or
(B) who is a principal broker under IC 25-34.1-4-3(b);
(3) cause each employee of the limited liability company who
acts as a broker or salesperson to be licensed; and
(4) submit the license fee established by the commission under
IC 25-1-8-2 and an application setting forth the information
prescribed in subsection (a)(4), together with:
(A) if a member-managed company, the name and residence
address of each member; or
(B) if a manager-managed company, the name and residence
address of each manager, or of each officer if the company
has officers.
(e) Licenses granted to partnerships, corporations, and limited
liability companies are issued, expire, are renewed, and are effective
on the same terms as licenses granted to individual brokers, except
as provided in subsection (h), and except that expiration or
revocation of the license of:
(1) any partner in a partnership or all individuals in a
corporation satisfying subsection (c)(1); or
(2) a member in a member-managed limited liability company
or all individuals in a manager-managed limited liability
company satisfying subsection (d)(2);
terminates the license of that partnership, corporation, or limited
liability company.
(f) Upon the applicant's compliance with the requirements of
subsection (a), (b), or (c), the commission shall issue the applicant a
broker license and an identification card which certifies the issuance
of the license and indicates the expiration date of the license. The
license shall be displayed at the broker's place of business.
(g) Unless the license is renewed, a broker license expires, for
individuals, on a date specified by the licensing agency under
IC 25-1-6-4 and expires biennially after the initial expiration date.
An applicant for renewal shall submit an application in the manner
prescribed by the board and pay the renewal fee established by the
commission under IC 25-1-8-2 on or before the renewal date
specified by the licensing agency. If the holder of a license does not
renew the license by the date specified by the licensing agency, the
license expires and becomes invalid without the board taking any
action.
(h) If the holder of a license under this section fails to renew the
license on or before the date specified by the licensing agency, the
license may be reinstated by the commission if the holder of the
license, not later than three (3) years after the expiration of the
license, meets the requirements of IC 25-1-8-6(c).
(i) If a license under this section has been expired for more than
three (3) years, the license may be reinstated by the commission if
the holder meets the requirements for reinstatement under
IC 25-1-8-6(d).
(j) A partnership, corporation, or limited liability company may
not be a broker-salesperson except as authorized in IC 23-1.5. An
individual broker who associates as a broker-salesperson with a
principal broker shall immediately notify the commission of the
name and business address of the principal broker and of any
changes of principal broker that may occur. The commission shall
then change the address of the broker-salesperson on its records to
that of the principal broker. As added by Acts 1982, P.L.156, SEC.3. Amended by P.L.255-1987,
SEC.3; P.L.5-1988, SEC.139; P.L.214-1993, SEC.83; P.L.128-1994,
SEC.3; P.L.229-1995, SEC.6; P.L.236-1995, SEC.50; P.L.182-1996,
SEC.2; P.L.64-2004, SEC.18; P.L.194-2005, SEC.86; P.L.157-2006,
SEC.72; P.L.105-2008, SEC.63.
IC 25-34.1-3-5 Licensing of nonresident; consent to service of process; waiver
Sec. 5. (a) A resident of another state, meeting the requirements
of this chapter, may be licensed.
(b) A nonresident salesperson or broker shall file with the
commission a written consent that any action arising out of the
conduct of the licensee's business in Indiana may be commenced in
any county of this state in which the cause of action accrues. The
consent shall provide that service of process may be made upon the
commission, as agent for the nonresident licensee, and that service
in accordance with the Indiana Rules of Trial Procedure subjects the
licensee to the jurisdiction of the courts in that county.
(c) The requirements of this section may be waived for individuals
of or moving from other jurisdictions if the following requirements
are met:
(1) The jurisdiction grants the same privilege to the licensees of
this state.
(2) The individual is licensed in that jurisdiction.
(3) The licensing requirements of that jurisdiction are
substantially similar to the requirements of this chapter.
(4) The applicant states that the applicant has studied, is
familiar with, and will abide by the statutes and rules of this
state. As added by Acts 1979, P.L.248, SEC.1. Amended by P.L.255-1987,
SEC.4; P.L.64-2004, SEC.19.
IC 25-34.1-3-6 Change of name, business address, or association of licensee or
principal broker
Sec. 6. Each licensee and each licensee's principal broker, if any,
shall notify the commission immediately of any change of name,
name under which the licensee transacts business, business address,
or association. As added by Acts 1979, P.L.248, SEC.1.
IC 25-34.1-3-7
Repealed
(Repealed by Acts 1981, P.L.222, SEC.296.)
IC 25-34.1-3-8 Real estate appraiser licensure and certification program;
necessity for licensure or certification
Sec. 8. (a) This section does not preclude a person who:
(1) is not licensed or certified as a real estate appraiser under
this section; and
(2) is licensed as a broker under this article;
from appraising real estate in Indiana for compensation.
(b) As used in this section, "federal act" refers to Title XI of the
Financial Institutions Reform, Recovery, and Enforcement Act (12
U.S.C. 3331 through 3351).
(c) The commission shall adopt rules to establish a real estate
appraiser licensure and certification program to be administered by
the board.
(d) The commission may not adopt rules under this section except
upon the action and written recommendations of the board under
IC 25-34.1-8-6.5.
(e) The real estate appraiser licensure and certification program
established by the commission under this section must meet the
requirements of:
(1) the federal act;
(2) any federal regulations adopted under the federal act; and
(3) any other requirements established by the commission as
recommended by the board, including requirements for
education, experience, examination, reciprocity, and temporary
practice.
(f) The real estate appraiser licensure and certification
requirements established by the commission under this section must
require a person to meet the standards for real estate appraiser
certification and licensure established:
(1) under the federal act;
(2) by federal regulations; and
(3) under any other requirements established by the commission
as recommended by the board, including requirements for
education, experience, examination, reciprocity, and temporary
practice.
(g) The commission may require continuing education as a
condition of renewal for real estate appraiser licensure and
certification.
(h) The following are not required to be a licensed or certified real
estate appraiser to perform the requirements of IC 6-1.1-4:
(1) A county assessor.
(2) A township assessor.
(3) An employee of a county or township assessor.
(i) Notwithstanding IC 25-34.1-3-2(a):
(1) only a person who receives a license or certificate issued
under the real estate appraiser licensure and certification
program established under this section may appraise real estate
involved in transactions governed by:
(A) the federal act; and
(B) any regulations adopted under the federal act;
as determined under rules adopted by the commission, as
recommended by the board; and
(2) a person who receives a license or certificate issued under
the real estate appraiser licensure and certification program
established under this section may appraise real estate not
involved in transactions governed by:
(A) the federal act; and
(B) any regulations adopted under the federal act;
as determined under rules adopted by the commission, as
recommended by the board. As added by P.L.186-1990, SEC.12. Amended by P.L.183-1991,
SEC.7; P.L.57-2007, SEC.3; P.L.146-2008, SEC.530.
IC 25-34.1-3-9
Repealed
(Repealed by P.L.57-2007, SEC.9.)
IC 25-34.1-3-9.5 Fees; real estate appraiser licensure and certification program
Sec. 9.5. (a) The commission shall establish fees under
IC 25-1-8-2 to implement section 8 of this chapter.
(b) Notwithstanding IC 25-1-8-2, a fee established under
IC 25-1-8-2 to implement section 8 of this chapter may not be less
than fifty dollars ($50).
(c) The commission shall establish fees to provide funding for the
investigative fund established by IC 25-34.1-8-7.5. The fees under
this subsection may not be more than twenty dollars ($20).
(d) The board may collect a fee required by federal law and
transmit the fees to the federal government as required by federal
law.
(e) A fee described in subsection (a) is in addition to any fees
required by federal law. As added by P.L.57-2007, SEC.4.
IC 25-34.1-3-10 Inactive license requirements; continuing education; reactivation
requirements
Sec. 10. (a) A salesperson licensed under section 3.1 of this
chapter or a broker licensed under section 4.1 of this chapter may
apply for and receive an inactive license from the commission.
(b) An individual may not be granted an inactive license without
the approval of the commission if a disciplinary or suspension
hearing is pending against the individual.
(c) An individual with an inactive license:
(1) may not perform an act that requires a salesperson or
broker's license;
(2) is not required to fulfill the continuing education
requirements under IC 25-34.1-9;
(3) is required to pay any fees that a licensee is required to pay;
and
(4) must fulfill the requirements under IC 25-34.1-9-11 for the
current licensing period before applying for reactivation of the
individual's license.
(d) Notwithstanding IC 25-34.1-9-11(2), the commission may
adopt rules under IC 4-22-2 establishing continuing education
requirements for individuals who have reactivated a license with less
than twelve (12) months remaining in the licensing period. As added by P.L.120-1992, SEC.1. Amended by P.L.157-2006,
SEC.73.
IC 25-34.1-3-11 Acts permitted by unlicensed out-of-state commercial broker;
written consent
Sec. 11. (a) An out-of-state commercial broker, for a fee,
commission, or other valuable consideration, or in expectation, or
upon the promise of receiving or collecting a fee, commission, or
other valuable consideration, may perform acts with respect to
commercial real estate that require a license under this article
without a license under this article, if the out-of-state commercial
broker does all of the following:
(1) Works in cooperation with a broker who holds a valid
license issued under this article.
(2) Enters into a written agreement with the broker described in
subdivision (1) that includes the terms of cooperation and
compensation and a statement that the out-of-state commercial
broker and the broker's agents will comply with the laws of this
state.
(3) Furnishes the broker described in subdivision (1) with a
copy of the out-of-state commercial broker's current certificate
of good standing or other proof of a license in good standing
from a jurisdiction where the out-of-state commercial broker
maintains a valid real estate license.
(4) Files an irrevocable written consent with the commission
that legal actions arising out of the conduct of the out-of-state
commercial broker or the broker's agents may be commenced
against the out-of-state commercial broker in a court with
jurisdiction in a county in Indiana in which the cause of action
accrues.
(5) Advertises in compliance with state law and includes the
name of the broker described in subdivision (1) in all
advertising.
(6) Deposits all escrow funds, security deposits, and other
money received by either the out-of-state commercial broker or
the broker described in subdivision (1) in a trust account
maintained by the broker described in subdivision (1).
(7) Deposits all documentation required by this section and
records and documents related to the transaction with the broker
described in subdivision (1).
(b) The broker described in subsection (a)(1) shall retain the
documentation that is provided by the out-of-state commercial broker
as required under this section, and the records and documents related
to a transaction, for at least five (5) years.
(c) An out-of-state commercial salesperson may perform acts with
respect to commercial real estate that require a salesperson to be
licensed under this article without a license under this article if the
out-of-state commercial salesperson meets all of the following
requirements:
(1) The out-of-state commercial salesperson:
(A) is licensed with and works under the direct supervision
of the out-of-state commercial broker;
(B) provides the broker described in subsection (a)(1) with
a copy of the out-of-state commercial salesperson's current
certificate of good standing or other proof of a license in
good standing from the jurisdiction where the out-of-state
commercial salesperson maintains a valid real estate license
in connection with the out-of-state commercial broker; and
(C) collects money, including:
(i) commissions;
(ii) deposits;
(iii) payments;
(iv) rentals; or
(v) escrow funds;
only in the name of and with the consent of the out-of-state
commercial broker under whom the out-of-state commercial
salesperson is licensed.
(2) The out-of-state commercial broker described in subdivision
(1)(A) meets all of the requirements of subsection (a).
(d) A person licensed in a jurisdiction where there is not a legal
distinction between a real estate broker license and a real estate
salesperson license must meet the requirements of subsection (a)
before engaging in an act that requires a license under this article.
(e) An out-of-state commercial broker or salesperson acting under
this section shall file a written consent as provided in section 5(b) of
this chapter. As added by P.L.64-2004, SEC.20.
IC 25-34.1-3-12 Criminal convictions
Sec. 12. A licensee who is convicted of a crime (as defined in
IC 33-23-1-4) shall send a copy of the:
(1) complaint or other information that describes the crime; and
(2) judgment of conviction;
to the commission not more than thirty (30) days after the date of the
conviction. As added by P.L.87-2006, SEC.3.
IC 25-34.1-3-1 Registration or license requirements; fees or charges
Sec. 1. Any agency or political subdivision of the state other than
the commission may not impose any registration or license
requirement or any license or employment fee or charge on licensees
on account of activities defined in IC 25-34.1. As added by Acts 1979, P.L.248, SEC.1.
IC 25-34.1-3-2 Transactions without license; prohibition; exemption
Sec. 2. (a) Except as provided in:
(1) subsection (b);
(2) section 8(i) of this chapter; and
(3) section 11 of this chapter;
no person shall, for consideration, sell, buy, trade, exchange, option,
lease, rent, manage, list, or appraise real estate or negotiate or offer
to perform any of those acts in Indiana or with respect to real estate
situated in Indiana, without a license.
(b) This article does not apply to:
(1) acts of an attorney which constitute the practice of law;
(2) performance by a public official of acts authorized by law;
(3) acts of a receiver, executor, administrator, commissioner,
trustee, or guardian, respecting real estate owned or leased by
the person represented, performed pursuant to court order or a
will;
(4) rental, for periods of less than thirty (30) days, of rooms,
lodging, or other accommodations, by any commercial hotel,
motel, tourist facility, or similar establishment which regularly
furnishes such accommodations for consideration;
(5) rental of residential apartment units by an individual
employed or supervised by a licensed broker;
(6) rental of apartment units which are owned and managed by
a person whose only activities regulated by this article are in
relation to a maximum of twelve (12) apartment units which are
located on a single parcel of real estate or on contiguous parcels
of real estate;
(7) referral of real estate business by a broker, salesperson, or
referral company which is licensed under the laws of another
state, to or from brokers and salespersons licensed by this state;
(8) acts performed by a person in relation to real estate owned
by that person unless that person is licensed under this article,
in which case the article does apply to him;
(9) acts performed by a regular, full-time, salaried employee of
a person in relation to real estate owned or leased by that person
unless the employee is licensed under this article, in which case
the article does apply to him;
(10) conduct of a sale at public auction by a licensed auctioneer
pursuant to IC 25-6.1;
(11) sale, lease, or other transfer of interests in cemetery lots;
and
(12) acts of a broker or salesperson, who is licensed under the
laws of another state, which are performed pursuant to, and
under restrictions provided by, written permission that is
granted by the commission in its sole discretion, except that
such a person shall comply with the requirements of section
5(c) of this chapter. As added by Acts 1979, P.L.248, SEC.1. Amended by Acts 1982,
P.L.156, SEC.1; P.L.183-1991, SEC.6; P.L.64-2004, SEC.17.
IC 25-34.1-3-3
Repealed
(Repealed by Acts 1982, P.L.156, SEC.4.)
IC 25-34.1-3-3.1 Requirements for salesperson's license
Sec. 3.1. (a) To obtain a salesperson license, an individual must:
(1) be at least eighteen (18) years of age before applying for a
license and must not have a conviction for:
(A) an act that would constitute a ground for disciplinary
sanction under IC 25-1-11;
(B) a crime that has a direct bearing on the individual's
ability to practice competently; or
(C) a crime that indicates the individual has the propensity
to endanger the public;
(2) have successfully completed courses in the principles,
practices, and law of real estate, totaling eight (8) semester
credit hours, or their equivalent, as a student at an accredited
college or university or have successfully completed an
approved salesperson course as provided in IC 25-34.1-5-5(a);
(3) apply for a license by submitting the fee prescribed by the
commission and an application containing the name, address,
and age of the applicant, the name under which the applicant
intends to conduct business, the principal broker's address
where the business is to be conducted, proof of compliance with
subdivision (2), and any other information the commission
requires;
(4) pass a written examination prepared and administered by the
commission or its duly appointed agent; and
(5) submit not more than one (1) year after passing the written
examination under subdivision (4) a sworn certification of a
principal broker that the principal broker intends to associate
with the applicant and maintain that association until notice of
termination of the association is given to the commission.
(b) Upon the applicant's compliance with the requirements of
subsection (a), the commission shall:
(1) issue a wall certificate in the name of the salesperson to the
principal broker who certified the applicant's association with
the principal broker; and
(2) issue to the salesperson a pocket identification card which
certifies that the salesperson is licensed and indicates the
expiration date of the license and the name of the principal
broker.
(c) A salesperson shall:
(1) act under the auspices of the principal broker responsible for
that salesperson's conduct under this article;
(2) be associated with only one (1) principal broker;
(3) maintain evidence of licensure in the office, branch office,
or sales outlet of the principal broker;
(4) advertise only in the name of the principal broker, with the
principal broker's name in letters of advertising larger than that
of the salesperson's name; and
(5) not maintain any real estate office apart from that office
provided by the principal broker.
(d) Upon termination of a salesperson's association with a
principal broker, the salesperson's license shall be returned to the
commission within five (5) business days. The commission shall
reissue the license to any principal broker whose certification, as
prescribed in subsection (a)(5), is filed with the commission, and the
commission shall issue a new identification card to the salesperson
reflecting that change.
(e) Unless a license is renewed, a salesperson license expires on
a date specified by the licensing agency under IC 25-1-6-4 and
expires biennially after the initial expiration date. An applicant for
renewal shall submit an application in the manner prescribed by the
board and pay the renewal fee established by the board under
IC 25-1-8-2 on or before the renewal date specified by the licensing
agency. If the holder of a license does not renew the license by the
date specified by the licensing agency, the license expires and
becomes invalid without the board taking any action.
(f) If the holder of a license under this section fails to renew the
license on or before the date specified by the licensing agency, the
license may be reinstated by the commission if the holder of the
license, not later than three (3) years after the expiration of the
license, meets the requirements of IC 25-1-8-6(c).
(g) If a license under this section has been expired for more than
three (3) years, the license may be reinstated by the commission if
the holder meets the requirements for reinstatement under
IC 25-1-8-6(d).
(h) A salesperson license may be issued to an individual who is
not yet associated with a principal broker but who otherwise meets
the requirements of subsection (a). A license issued under this
subsection shall be held by the commission in an unassigned status
until the date the individual submits the certification of a principal
broker required by subsection (a)(5). If the individual does not
submit the application for licensure within one (1) year after passing
the commission examination, the commission shall void the
application and may not issue a license to that applicant unless the
applicant again complies with the requirements of subsection (a)(4)
through (a)(5).
(i) If an individual holding a salesperson license is not associated
with a principal broker for two (2) successive renewal periods, the
commission shall notify the individual in writing that the individual's
license will become void if the individual does not associate with a
principal broker within thirty (30) days from the date the notification
is mailed. A void license may not be renewed. As added by Acts 1982, P.L.156, SEC.2. Amended by P.L.255-1987,
SEC.2; P.L.214-1993, SEC.82; P.L.128-1994, SEC.2; P.L.236-1995,
SEC.49; P.L.182-1996, SEC.1; P.L.194-2005, SEC.85;
P.L.157-2006, SEC.71; P.L.105-2008, SEC.62.
IC 25-34.1-3-4
Repealed
(Repealed by Acts 1982, P.L.156, SEC.4.)
IC 25-34.1-3-4.1 Requirements for broker's license
Sec. 4.1. (a) To obtain a broker license, an individual must:
(1) be at least eighteen (18) years of age before applying for a
license and must not have a conviction for:
(A) an act that would constitute a ground for disciplinary
sanction under IC 25-1-11;
(B) a crime that has a direct bearing on the individual's
ability to practice competently; or
(C) a crime that indicates the individual has the propensity
to endanger the public;
(2) have satisfied section 3.1(a)(2) of this chapter and have had
continuous active experience for one (1) year immediately
preceding the application as a licensed salesperson in Indiana.
However, this one (1) year experience requirement may be
waived by the commission upon a finding of equivalent
experience;
(3) have successfully completed an approved broker course of
study as prescribed in IC 25-34.1-5-5(b);
(4) apply for a license by submitting the application fee
prescribed by the commission and an application specifying the
name, address, and age of the applicant, the name under which
the applicant intends to conduct business, the address where the
business is to be conducted, proof of compliance with
subdivisions (2) and (3), and any other information the
commission requires;
(5) pass a written examination prepared and administered by the
commission or its duly appointed agent; and
(6) within one (1) year after passing the commission
examination, submit the license fee established by the
commission under IC 25-1-8-2. If an individual applicant fails
to file a timely license fee, the commission shall void the
application and may not issue a license to that applicant unless
that applicant again complies with the requirements of
subdivisions (4) and (5) and this subdivision.
(b) To obtain a broker license, a partnership must:
(1) have as partners only individuals who are licensed brokers;
(2) have at least one (1) partner who:
(A) is a resident of Indiana; or
(B) is a principal broker under IC 25-34.1-4-3(b);
(3) cause each employee of the partnership who acts as a broker
or salesperson to be licensed; and
(4) submit the license fee established by the commission under
IC 25-1-8-2 and an application setting forth the name and
residence address of each partner and the information
prescribed in subsection (a)(4).
(c) To obtain a broker license, a corporation must:
(1) have a licensed broker:
(A) residing in Indiana who is either an officer of the
corporation or, if no officer resides in Indiana, the highest
ranking corporate employee in Indiana with authority to bind
the corporation in real estate transactions; or
(B) who is a principal broker under IC 25-34.1-4-3(b);
(2) cause each employee of the corporation who acts as a broker
or salesperson to be licensed; and
(3) submit the license fee established by the commission under
IC 25-1-8-2, an application setting forth the name and residence
address of each officer and the information prescribed in
subsection (a)(4), a copy of the certificate of incorporation, and
a certificate of good standing of the corporation issued by the
secretary of state.
(d) To obtain a broker license, a limited liability company must:
(1) if a member-managed limited liability company:
(A) have as members only individuals who are licensed
brokers; and
(B) have at least one (1) member who is:
(i) a resident of Indiana; or
(ii) a principal broker under IC 25-34.1-4-3(b);
(2) if a manager-managed limited liability company, have a
licensed broker:
(A) residing in Indiana who is either a manager of the
company or, if no manager resides in Indiana, the highest
ranking company officer or employee in Indiana with
authority to bind the company in real estate transactions; or
(B) who is a principal broker under IC 25-34.1-4-3(b);
(3) cause each employee of the limited liability company who
acts as a broker or salesperson to be licensed; and
(4) submit the license fee established by the commission under
IC 25-1-8-2 and an application setting forth the information
prescribed in subsection (a)(4), together with:
(A) if a member-managed company, the name and residence
address of each member; or
(B) if a manager-managed company, the name and residence
address of each manager, or of each officer if the company
has officers.
(e) Licenses granted to partnerships, corporations, and limited
liability companies are issued, expire, are renewed, and are effective
on the same terms as licenses granted to individual brokers, except
as provided in subsection (h), and except that expiration or
revocation of the license of:
(1) any partner in a partnership or all individuals in a
corporation satisfying subsection (c)(1); or
(2) a member in a member-managed limited liability company
or all individuals in a manager-managed limited liability
company satisfying subsection (d)(2);
terminates the license of that partnership, corporation, or limited
liability company.
(f) Upon the applicant's compliance with the requirements of
subsection (a), (b), or (c), the commission shall issue the applicant a
broker license and an identification card which certifies the issuance
of the license and indicates the expiration date of the license. The
license shall be displayed at the broker's place of business.
(g) Unless the license is renewed, a broker license expires, for
individuals, on a date specified by the licensing agency under
IC 25-1-6-4 and expires biennially after the initial expiration date.
An applicant for renewal shall submit an application in the manner
prescribed by the board and pay the renewal fee established by the
commission under IC 25-1-8-2 on or before the renewal date
specified by the licensing agency. If the holder of a license does not
renew the license by the date specified by the licensing agency, the
license expires and becomes invalid without the board taking any
action.
(h) If the holder of a license under this section fails to renew the
license on or before the date specified by the licensing agency, the
license may be reinstated by the commission if the holder of the
license, not later than three (3) years after the expiration of the
license, meets the requirements of IC 25-1-8-6(c).
(i) If a license under this section has been expired for more than
three (3) years, the license may be reinstated by the commission if
the holder meets the requirements for reinstatement under
IC 25-1-8-6(d).
(j) A partnership, corporation, or limited liability company may
not be a broker-salesperson except as authorized in IC 23-1.5. An
individual broker who associates as a broker-salesperson with a
principal broker shall immediately notify the commission of the
name and business address of the principal broker and of any
changes of principal broker that may occur. The commission shall
then change the address of the broker-salesperson on its records to
that of the principal broker. As added by Acts 1982, P.L.156, SEC.3. Amended by P.L.255-1987,
SEC.3; P.L.5-1988, SEC.139; P.L.214-1993, SEC.83; P.L.128-1994,
SEC.3; P.L.229-1995, SEC.6; P.L.236-1995, SEC.50; P.L.182-1996,
SEC.2; P.L.64-2004, SEC.18; P.L.194-2005, SEC.86; P.L.157-2006,
SEC.72; P.L.105-2008, SEC.63.
IC 25-34.1-3-5 Licensing of nonresident; consent to service of process; waiver
Sec. 5. (a) A resident of another state, meeting the requirements
of this chapter, may be licensed.
(b) A nonresident salesperson or broker shall file with the
commission a written consent that any action arising out of the
conduct of the licensee's business in Indiana may be commenced in
any county of this state in which the cause of action accrues. The
consent shall provide that service of process may be made upon the
commission, as agent for the nonresident licensee, and that service
in accordance with the Indiana Rules of Trial Procedure subjects the
licensee to the jurisdiction of the courts in that county.
(c) The requirements of this section may be waived for individuals
of or moving from other jurisdictions if the following requirements
are met:
(1) The jurisdiction grants the same privilege to the licensees of
this state.
(2) The individual is licensed in that jurisdiction.
(3) The licensing requirements of that jurisdiction are
substantially similar to the requirements of this chapter.
(4) The applicant states that the applicant has studied, is
familiar with, and will abide by the statutes and rules of this
state. As added by Acts 1979, P.L.248, SEC.1. Amended by P.L.255-1987,
SEC.4; P.L.64-2004, SEC.19.
IC 25-34.1-3-6 Change of name, business address, or association of licensee or
principal broker
Sec. 6. Each licensee and each licensee's principal broker, if any,
shall notify the commission immediately of any change of name,
name under which the licensee transacts business, business address,
or association. As added by Acts 1979, P.L.248, SEC.1.
IC 25-34.1-3-7
Repealed
(Repealed by Acts 1981, P.L.222, SEC.296.)
IC 25-34.1-3-8 Real estate appraiser licensure and certification program;
necessity for licensure or certification
Sec. 8. (a) This section does not preclude a person who:
(1) is not licensed or certified as a real estate appraiser under
this section; and
(2) is licensed as a broker under this article;
from appraising real estate in Indiana for compensation.
(b) As used in this section, "federal act" refers to Title XI of the
Financial Institutions Reform, Recovery, and Enforcement Act (12
U.S.C. 3331 through 3351).
(c) The commission shall adopt rules to establish a real estate
appraiser licensure and certification program to be administered by
the board.
(d) The commission may not adopt rules under this section except
upon the action and written recommendations of the board under
IC 25-34.1-8-6.5.
(e) The real estate appraiser licensure and certification program
established by the commission under this section must meet the
requirements of:
(1) the federal act;
(2) any federal regulations adopted under the federal act; and
(3) any other requirements established by the commission as
recommended by the board, including requirements for
education, experience, examination, reciprocity, and temporary
practice.
(f) The real estate appraiser licensure and certification
requirements established by the commission under this section must
require a person to meet the standards for real estate appraiser
certification and licensure established:
(1) under the federal act;
(2) by federal regulations; and
(3) under any other requirements established by the commission
as recommended by the board, including requirements for
education, experience, examination, reciprocity, and temporary
practice.
(g) The commission may require continuing education as a
condition of renewal for real estate appraiser licensure and
certification.
(h) The following are not required to be a licensed or certified real
estate appraiser to perform the requirements of IC 6-1.1-4:
(1) A county assessor.
(2) A township assessor.
(3) An employee of a county or township assessor.
(i) Notwithstanding IC 25-34.1-3-2(a):
(1) only a person who receives a license or certificate issued
under the real estate appraiser licensure and certification
program established under this section may appraise real estate
involved in transactions governed by:
(A) the federal act; and
(B) any regulations adopted under the federal act;
as determined under rules adopted by the commission, as
recommended by the board; and
(2) a person who receives a license or certificate issued under
the real estate appraiser licensure and certification program
established under this section may appraise real estate not
involved in transactions governed by:
(A) the federal act; and
(B) any regulations adopted under the federal act;
as determined under rules adopted by the commission, as
recommended by the board. As added by P.L.186-1990, SEC.12. Amended by P.L.183-1991,
SEC.7; P.L.57-2007, SEC.3; P.L.146-2008, SEC.530.
IC 25-34.1-3-9
Repealed
(Repealed by P.L.57-2007, SEC.9.)
IC 25-34.1-3-9.5 Fees; real estate appraiser licensure and certification program
Sec. 9.5. (a) The commission shall establish fees under
IC 25-1-8-2 to implement section 8 of this chapter.
(b) Notwithstanding IC 25-1-8-2, a fee established under
IC 25-1-8-2 to implement section 8 of this chapter may not be less
than fifty dollars ($50).
(c) The commission shall establish fees to provide funding for the
investigative fund established by IC 25-34.1-8-7.5. The fees under
this subsection may not be more than twenty dollars ($20).
(d) The board may collect a fee required by federal law and
transmit the fees to the federal government as required by federal
law.
(e) A fee described in subsection (a) is in addition to any fees
required by federal law. As added by P.L.57-2007, SEC.4.
IC 25-34.1-3-10 Inactive license requirements; continuing education; reactivation
requirements
Sec. 10. (a) A salesperson licensed under section 3.1 of this
chapter or a broker licensed under section 4.1 of this chapter may
apply for and receive an inactive license from the commission.
(b) An individual may not be granted an inactive license without
the approval of the commission if a disciplinary or suspension
hearing is pending against the individual.
(c) An individual with an inactive license:
(1) may not perform an act that requires a salesperson or
broker's license;
(2) is not required to fulfill the continuing education
requirements under IC 25-34.1-9;
(3) is required to pay any fees that a licensee is required to pay;
and
(4) must fulfill the requirements under IC 25-34.1-9-11 for the
current licensing period before applying for reactivation of the
individual's license.
(d) Notwithstanding IC 25-34.1-9-11(2), the commission may
adopt rules under IC 4-22-2 establishing continuing education
requirements for individuals who have reactivated a license with less
than twelve (12) months remaining in the licensing period. As added by P.L.120-1992, SEC.1. Amended by P.L.157-2006,
SEC.73.
IC 25-34.1-3-11 Acts permitted by unlicensed out-of-state commercial broker;
written consent
Sec. 11. (a) An out-of-state commercial broker, for a fee,
commission, or other valuable consideration, or in expectation, or
upon the promise of receiving or collecting a fee, commission, or
other valuable consideration, may perform acts with respect to
commercial real estate that require a license under this article
without a license under this article, if the out-of-state commercial
broker does all of the following:
(1) Works in cooperation with a broker who holds a valid
license issued under this article.
(2) Enters into a written agreement with the broker described in
subdivision (1) that includes the terms of cooperation and
compensation and a statement that the out-of-state commercial
broker and the broker's agents will comply with the laws of this
state.
(3) Furnishes the broker described in subdivision (1) with a
copy of the out-of-state commercial broker's current certificate
of good standing or other proof of a license in good standing
from a jurisdiction where the out-of-state commercial broker
maintains a valid real estate license.
(4) Files an irrevocable written consent with the commission
that legal actions arising out of the conduct of the out-of-state
commercial broker or the broker's agents may be commenced
against the out-of-state commercial broker in a court with
jurisdiction in a county in Indiana in which the cause of action
accrues.
(5) Advertises in compliance with state law and includes the
name of the broker described in subdivision (1) in all
advertising.
(6) Deposits all escrow funds, security deposits, and other
money received by either the out-of-state commercial broker or
the broker described in subdivision (1) in a trust account
maintained by the broker described in subdivision (1).
(7) Deposits all documentation required by this section and
records and documents related to the transaction with the broker
described in subdivision (1).
(b) The broker described in subsection (a)(1) shall retain the
documentation that is provided by the out-of-state commercial broker
as required under this section, and the records and documents related
to a transaction, for at least five (5) years.
(c) An out-of-state commercial salesperson may perform acts with
respect to commercial real estate that require a salesperson to be
licensed under this article without a license under this article if the
out-of-state commercial salesperson meets all of the following
requirements:
(1) The out-of-state commercial salesperson:
(A) is licensed with and works under the direct supervision
of the out-of-state commercial broker;
(B) provides the broker described in subsection (a)(1) with
a copy of the out-of-state commercial salesperson's current
certificate of good standing or other proof of a license in
good standing from the jurisdiction where the out-of-state
commercial salesperson maintains a valid real estate license
in connection with the out-of-state commercial broker; and
(C) collects money, including:
(i) commissions;
(ii) deposits;
(iii) payments;
(iv) rentals; or
(v) escrow funds;
only in the name of and with the consent of the out-of-state
commercial broker under whom the out-of-state commercial
salesperson is licensed.
(2) The out-of-state commercial broker described in subdivision
(1)(A) meets all of the requirements of subsection (a).
(d) A person licensed in a jurisdiction where there is not a legal
distinction between a real estate broker license and a real estate
salesperson license must meet the requirements of subsection (a)
before engaging in an act that requires a license under this article.
(e) An out-of-state commercial broker or salesperson acting under
this section shall file a written consent as provided in section 5(b) of
this chapter. As added by P.L.64-2004, SEC.20.
IC 25-34.1-3-12 Criminal convictions
Sec. 12. A licensee who is convicted of a crime (as defined in
IC 33-23-1-4) shall send a copy of the:
(1) complaint or other information that describes the crime; and
(2) judgment of conviction;
to the commission not more than thirty (30) days after the date of the
conviction. As added by P.L.87-2006, SEC.3.
