Broker Sarah receives a complaint from the Georgia Real Estate Commission regarding her failure to supervise an affiliated licensee who allegedly mishandled escrow funds. What is the maximum time period Sarah has to respond to GREC's initial inquiry letter?
Correct Answer
C) 30 days from receipt
Under O.C.G.A. § 43-40-25, licensees have 30 days from receipt to respond to GREC's initial inquiry or complaint letter. A is too short - not the standard timeframe. B is insufficient time under Georgia law. D exceeds the statutory requirement.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Commingling is the illegal act of mixing client trust funds with a broker's personal or business operating funds; conversion is the misappropriation of those funds.
Continuing education (CE) refers to the ongoing coursework that licensed real estate professionals must complete during each renewal cycle to maintain an active license. CE ensures agents stay current with changes in laws, regulations, and industry practices.
The National Do Not Call Registry is a federal program administered by the FTC that allows consumers to opt out of receiving unsolicited telemarketing calls, including calls from real estate agents soliciting business.
More Practice Of Real Estate Questions
In Wyoming real estate practice, an associate broker or salesperson is not associated with a responsible broker at renewal. What should the licensee remember?
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