In Louisiana, a proposed LREC member is evaluated for qualifications. Which statement is correct?
Correct Answer
C) The member must be a Louisiana citizen and qualified elector and must have actively engaged in real estate as a broker for at least the five years immediately before appointment
La. R.S. 37:1432 requires members to be Louisiana citizens and qualified electors who actively engaged in the real estate business as brokers for at least five years immediately before appointment. Source basis: Louisiana Legislature official La. R.S. 37:1432, 37:1433, 37:1434, and 37:1435; LREC License Law page cross-check; checked 2026-04-30.
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Related Topics & Key Terms
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Key Terms:
Related Concepts
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.
Broker supervision is the legal obligation of a designated or managing broker to oversee and be accountable for the real estate activities of all salespersons and associate brokers operating under their license.
Commingling is the illegal act of mixing client funds with a broker's personal or business operating funds, while conversion is the unauthorized use of client funds for the broker's own benefit. Both are serious violations that can result in license revocation.
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