Under Hawaii Administrative Rules Title 16 Chapter 99, which entity is primarily responsible for promulgating the administrative rules that implement HRS Chapter 467 and govern day-to-day real estate licensing operations, including advertising standards and trust account requirements?
Correct Answer
B) The Hawaii Real Estate Commission (HREC), subject to approval by the Director of Commerce and Consumer Affairs
Under HRS Chapter 467 and HAR Title 16 Chapter 99, the Hawaii Real Estate Commission has the authority to promulgate administrative rules implementing the real estate licensing statute. These rules, which cover advertising standards, trust account requirements, continuing education, agency disclosure forms, and broker supervision duties, are subject to approval by the Director of Commerce and Consumer Affairs, as the HREC operates within the DCCA.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A trust account, also called an escrow account, is a separate bank account maintained by a broker to hold funds belonging to others, such as earnest money deposits, security deposits, or other client funds.
Advertising regulations govern how real estate licensees may market properties and services, requiring truthful, non-deceptive advertising that includes proper identification of the brokerage.
Antitrust violations in real estate occur when competing brokerages or agents engage in practices that restrain trade, reduce competition, or harm consumers through collusion. These violations are governed by the Sherman Antitrust Act and can result in severe penalties.
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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A Wyoming licensee is reviewing an out-of-state salesperson applicant prepares for testing. What is the best answer?
In Wyoming real estate practice, a salesperson applicant age is reviewed. What should the licensee remember?
A responsible broker in Wyoming asks about a nonresident applicant provides home-state evidence. Which answer follows Wyoming law?
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