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09.11.02 - Real Estate Commission - Pending Regulations

 

PROPOSED ACTION ON REGULATIONS
MARYLAND REGISTER, VOLUME 41, ISSUE 10,
FRIDAY, MAY 16, 2014

Title 09
DEPARTMENT OF LABOR, LICENSING, AND REGULATION
Subtitle 11 REAL ESTATE COMMISSION

09.11.02 Code of Ethics

Authority: Business Occupations and Professions Article, §17-207, Annotated Code of Maryland

Notice of Proposed Action
[14-124-P]

The Real Estate Commission proposes to amend Regulation .01 under COMAR 09.11.02 Code of Ethics. This action was considered by the Real Estate Commission at a public meeting held on March 19, 2014, notice of which was given by publication in 41:4 Md. R. 318 (February 21, 2014), pursuant to State Government Article, §10-506(c), Annotated Code of Maryland.

Statement of Purpose

The purpose of this action is to require that a licensee who offers the name of a service provider to a party in a real estate transaction or a potential real estate transaction first verify that a service provider required to hold a State license to provide those services has a current license. The licensee is also required to provide the person with the electronic link to the licensing information website as well as the date on which the licensee last verified the information.

Comparison to Federal Standards

There is no corresponding federal standard to this proposed action.

Estimate of Economic Impact

The proposed action has no economic impact.

Economic Impact on Small Businesses

The proposed action has minimal or no economic impact on small businesses.

Impact on Individuals with Disabilities

The proposed action has no impact on individuals with disabilities.

Opportunity for Public Comment

Comments may be sent to Katherine Connelly, Executive Director, Real Estate Commission, 500 N. Calvert Street, 3rd Floor, Baltimore, MD 21202, or call 410-230-6227, or email to kathie.connelly@maryland.gov, or fax to 410-333-0023. Comments will be accepted through June 30, 2014. A public hearing has not been scheduled.

Open Meeting

Final action on the proposal will be considered by the Real Estate Commission during a public meeting to be held on July 16, 2014, at 10:30 a.m., at 500 N. Calvert Street, 3rd Floor, Baltimore, MD 21202.

.01 Relations to the Public
  A. – I. (text unchanged)
  J. If the licensee offers the name of a service provider, including, but not limited to, a mortgage lender or mortgage broker, a real estate appraiser, a home inspector, a home improvement contractor, a plumber, an electrician, or a heating/ventilation/air conditioning/cooling (HVAC) contractor, to a party in a real estate transaction or a potential transaction, the licensee shall first verify that the provider’s State license to perform those services is current. The licensee shall also give the person the electronic link to the licensing record information as well as the date on which the licensee last verified the information, so that the person may verify continued license status before entering into a contract with the provider.

J. Nicholas D’Ambrosia
Chairman
Real Estate Commission