Marcus is a newly appointed member of the Louisiana Real Estate Commission. To be eligible for appointment as a broker member of the LREC, Marcus must have held an active Louisiana broker license for at least how many years immediately preceding his appointment?
Correct Answer
D) Five years
Under La. R.S. 37:1432, broker members of the LREC must have held an active Louisiana real estate broker license for at least five years immediately preceding their appointment. This ensures that commissioners have substantial professional experience.
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Related Topics & Key Terms
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Related Concepts
Brokers in Florida have strict responsibilities for managing escrow accounts, including monthly reconciliation and proper handling of trust funds.
FREC has the authority to impose fines and other disciplinary actions on licensees who violate real estate laws and rules.
A group boycott is an illegal antitrust practice in which two or more competing real estate businesses agree to refuse to work with a specific person, company, or entity in order to harm that party's ability to compete.
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