543B.8 Real estate commission created — staff.
1. A real estate commission is created within the professional licensing and regulation bureau of the banking division of the department of commerce. The commission consists of five members licensed under this chapter and two members not licensed under this chapter and who shall represent the general public. Commission members shall be appointed by the governor subject to confirmation by the senate.
2. No more than one member shall be appointed from a county. A commission member shall not hold any other elective or appointive state or federal office. At least one of the licensed members shall be a licensed real estate salesperson, except that if the licensed real estate salesperson becomes a licensed real estate broker during a term of office, that person may complete the term, but is not eligible for reappointment on the commission as a licensed real estate salesperson. A licensed member shall be actively engaged in the real estate business and shall have been so engaged for five years preceding the appointment, the last two of which shall have been in Iowa. Professional associations or societies of real estate brokers or real estate salespersons may recommend the names of potential commission members to the governor. However, the governor is not bound by their recommendations. A commission member shall not be required to be a member of any professional association or society composed of real estate brokers or salespersons.
3. Appointments shall be for three-year terms and shall commence and end as provided in section 69.19. A member shall serve no more than three terms or nine years, whichever is less. Vacancies shall be filled for the unexpired term by appointment of the governor and are subject to senate confirmation.
4. A majority of the commission members constitutes a quorum.
5. The administrator of the professional licensing and regulation bureau of the banking division shall hire and provide staff to assist the commission with implementing this chapter. The administrator of the professional licensing and regulation bureau of the banking division of the department of commerce shall hire a real estate education director to assist the commission in administering education programs for the commission.
[C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §117.8; 81 Acts, ch 54, §5]
86 Acts, ch 1245, §722; 88 Acts, ch 1274, §36; 89 Acts, ch 292, §1
C93, §543B.8
2005 Acts, ch 41, §1; 2006 Acts, ch 1177, §38; 2018 Acts, ch 1041, §106
Referred to in §543B.43, 543B.49, 558A.1
Confirmation, see §2.32
Structure Iowa Code
Chapter 543B - REAL ESTATE BROKERS AND SALESPERSONS
Section 543B.1 - License mandatory.
Section 543B.2 - Individual licenses necessary.
Section 543B.3 - Broker — definition.
Section 543B.4 - Real estate — definition.
Section 543B.5 - Other definitions.
Section 543B.6 - Acts constituting dealing in real estate.
Section 543B.7 - Acts excluded from provisions — prohibited acts — penalties.
Section 543B.8 - Real estate commission created — staff.
Section 543B.12 - Expenses of members — compensation.
Section 543B.13 - Seal — records.
Section 543B.14 - Fees and expenses.
Section 543B.15 - Qualifications.
Section 543B.16 - Application forms.
Section 543B.18 - Enforcement of rules.
Section 543B.19 - License denied — hearing.
Section 543B.20 - Examination.
Section 543B.21 - Nonresident license.
Section 543B.22 - Nonresident’s place of business.
Section 543B.23 - Actions against nonresidents.
Section 543B.24 - Custody of salesperson’s license.
Section 543B.25 - Display of license.
Section 543B.28 - Expiration of license.
Section 543B.29 - Revocation or suspension.
Section 543B.30 - Actions — license as prerequisite.
Section 543B.31 - Place of business — branch license.
Section 543B.32 - Change of location.
Section 543B.33 - Salespersons — change of employment or association.
Section 543B.34 - Investigations by commission — licensing sanctions — civil penalty.
Section 543B.35 - Hearing on charges.
Section 543B.36 - Attendance of witnesses.
Section 543B.37 - Fees and mileage.
Section 543B.38 - Request for witnesses.
Section 543B.39 - Disobedience to subpoena.
Section 543B.40 - Depositions.
Section 543B.41 - Findings of fact.
Section 543B.42 - List of licensees.
Section 543B.44 - Complaints referred to court.
Section 543B.45 - Dual contracts for sale of real property.
Section 543B.46 - Trust accounts.
Section 543B.47 - Insurance requirement.
Section 543B.48 - Civil penalty amount.
Section 543B.49 - Injunctive relief.
Section 543B.51 - Public members.
Section 543B.52 - Disclosure of confidential information.
Section 543B.53 - Application of chapter.
Section 543B.54 - Real estate education fund.
Section 543B.55 - Disclosure of relationship.
Section 543B.56 - Duties of licensees.
Section 543B.56A - Brokerage agreements — purpose — contents.
Section 543B.57 - Confirmation and disclosure of relationship.
Section 543B.58 - Licensees representing more than one client in a transaction.
Section 543B.59 - Appointed agents within a firm.
Section 543B.60 - Licensees providing services in more than one transaction.
Section 543B.60A - Prohibited practices — business referral disclosures.
Section 543B.61 - Violations — real estate commission jurisdiction.
Section 543B.62 - Changes in common law duties and liabilities of licensees and parties.