61J2-5.014: Registration of Corporation
PURPOSE AND EFFECT: The Board proposes the rule amendment to clarify that a corporation shall operate as a real estate broker when receipt of written notification from the Department that the corporation has been properly registered.
SUMMARY: The Board proposes the rule amendment to clarify when a corporation shall operate as a real estate broker.
SUMMARY OF ESTIMATED REGULATORY COSTS: No Statement of Estimated Regulatory Cost was prepared.
Any person who wishes to provide information regarding a statement of estimated regulatory costs, or provide a proposal for a lower cost regulatory alternative must do so in writing within 21 days of this notice.
SPECIFIC AUTHORITY: 475.05 FS.
LAW IMPLEMENTED: 455.227 FS. 75.15 FS. 475.17 FS.
IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE SCHEDULED AND ANNOUNCED IN FAW.
THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Lori Crawford, Deputy Clerk, Division of Real Estate, 400 West Robinson Street, Hurston Building, North Tower, Suite N802, Orlando, Florida 32801.
THE FULL TEXT OF THE PROPOSED RULE IS:
61J2-5.014 Registration of Corporation.
Unless the Commission or BPR shall have information that the corporation has been in violation of Chapters 475 and 455, Florida Statutes, or the rules promulgated under said chapters, it will be assumed to be qualified for registration if its officers and directors are qualified and if the answers to questions in the application, or in supplemental inquiries, are satisfactory. Otherwise, investigation and other proceedings, as in cases of individual applicants, shall commence. No registration shall be granted or renewed for any corporation if it shall appear that the individual(s) having control of the corporation has been denied, revoked, or suspended and not reinstated, or if a person having control of the corporation has been convicted of a felony in any court and has not had civil rights restored for at least 5 years, or if an injunction has been entered against the individual for operating as a real estate licensee without a license. A person shall be deemed to be in control of a corporation where such person or spouse, children, or member of the household shall own or control, directly or indirectly, more than 40 percent of the voting stock of such corporation. No corporation shall operate as a real estate broker until they have received written notification from the Department that the corporation has been properly registered.
Specific Authority 475.05 FS. Law Implemented 455.227 FS., 475.15 FS., 475.17 FS. History–New 1-1-80, Amended 7-15-84, Formerly 21V-5.14, Amended 7-20-93, Formerly 21V-5.014,________.