When submitting a renewal of any firm or sole proprietorship license, the principal broker or supervising broker of the firm shall certify that he has audited or has caused to be audited the operations, policies, and procedures of the firm to assure compliance with the provisions of this chapter and with regulations adopted by the Board. Such audit shall be conducted at least once during each term of licensure, and the completed audit form developed by the Board, signed by the principal or supervising broker, shall be kept on the premises of the firm or sole proprietorship and shall be produced for inspection or copying upon request by an authorized agent of the Board.
2012, c. 750.
Structure Code of Virginia
Title 54.1 - Professions and Occupations
Chapter 21 - Real Estate Brokers, Sales Persons and Rental Location Agents
§ 54.1-2101. Real estate salesperson defined
§ 54.1-2101.1. Preparation of real estate contracts by real estate licensees; translation
§ 54.1-2103. Exemptions from chapter
§ 54.1-2104. Real Estate Board; membership; chairman; seal
§ 54.1-2105.01. Educational requirements for all salespersons within one year of licensure
§ 54.1-2105.02. Regulation of real estate education providers and courses
§ 54.1-2105.03. Continuing education; relicensure of brokers and salespersons
§ 54.1-2105.04. Education requirements; reactivation of licenses; waiver
§ 54.1-2105.1. (Effective until January 1, 2023) Other powers and duties of the Real Estate Board
§ 54.1-2105.1. (Effective January 1, 2023) Other powers and duties of the Real Estate Board
§ 54.1-2105.2. Cease and desist orders for unlicensed activity; civil penalty
§ 54.1-2106.1. Licenses required
§ 54.1-2106.2. Certification of audit on renewal of firm or sole proprietorship license
§ 54.1-2107. Certain action to constitute real estate broker or salesperson
§ 54.1-2108. Protection of escrow funds, etc., held by broker
§ 54.1-2109. (Effective until January 1, 2023) Death or disability of a real estate broker
§ 54.1-2109. (Effective January 1, 2023) Death or disability of a real estate broker
§ 54.1-2110. Resident broker to maintain place of business in Virginia
§ 54.1-2110.1. Duties of supervising broker
§ 54.1-2111. Consent to suits and service of process by nonresidents; manner of service
§ 54.1-2111.1. Voluntary compliance program; real estate brokers
§ 54.1-2113. Establishment and maintenance of fund, duty of Director, assessments of regulants
§ 54.1-2114. Recovery from fund generally
§ 54.1-2116. Limitations upon recovery from fund; certain actions not a bar to recovery
§ 54.1-2117. Participation by Board in proceedings
§ 54.1-2118. Payment of claim; assignment of claimant's rights to Board
§ 54.1-2119. Revocation of license of regulant upon payment from fund
§ 54.1-2120. No waiver by Board of disciplinary action against regulant
§ 54.1-2131. Licensees engaged by sellers
§ 54.1-2132. Licensees engaged by buyers
§ 54.1-2133. Licensees engaged by landlords to lease property
§ 54.1-2134. Licensees engaged by tenants
§ 54.1-2135. Licensees engaged to manage real estate
§ 54.1-2136. Preconditions to brokerage relationship
§ 54.1-2137. Commencement and termination of brokerage relationships
§ 54.1-2138. Disclosure of brokerage relationship in residential real estate transactions
§ 54.1-2138.2. Duty to disclose ownership interest in specific real property
§ 54.1-2140. Compensation shall not imply brokerage relationship
§ 54.1-2141. Brokerage relationship not created by using common source information company
§ 54.1-2142. Liability; knowledge not to be imputed
§ 54.1-2142.1. Liability for false information
§ 54.1-2143. Real estate board regulations to be consistent
§ 54.1-2144. Common law abrogated