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Practice Of Real EstateCommission_powersMEDIUM

In Kentucky, KREC considers protection for members and staff. Which statement is correct?

Correct Answer

C) The Commission may use necessary funds to purchase liability insurance for members, executive officers, inspectors, and exempt staff

KRS 324.281 authorizes the Commission to purchase liability insurance for specified persons. Source basis: KRS 324.281 and KRS 324.150, Kentucky Legislative Research Commission official statutes: Commission composition, terms, duties, investigations, subpoenas, and emergency hearings; checked 2026-04-30.

Answer Options
A
The issue is controlled only by national real estate principles and not Kentucky law.
B
The parties may avoid the rule by private agreement after the fact.
C
The Commission may use necessary funds to purchase liability insurance for members, executive officers, inspectors, and exempt staff
D
A brokerage policy may waive the Kentucky Real Estate Commission requirement.

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Related Topics & Key Terms

Related Topics:

ky.Icommission_powers

Key Terms:

kentuckyky.Icommission_powersliability-insurance
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