The Montana Board of Realty Regulation is composed of members appointed by the Governor. Which of the following correctly describes the composition of the MBRR as established under Montana law?
Correct Answer
D) Seven members: four licensed brokers, two licensed salespersons, and one public member
Under MCA Title 37, Chapter 51 and MCA 2-15-1757, the Montana Board of Realty Regulation consists of seven members appointed by the Governor: four licensed brokers, two licensed salespersons, and one public member who is not a licensee. This mix balances broker leadership, salesperson representation, and public oversight.
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Related Topics & Key Terms
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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