The Vermont Real Estate Commission is considering adopting a new rule requiring all licensees to complete an additional two hours of annual continuing education on cybersecurity. Which of the following best describes the VREC's authority to adopt this rule?
Correct Answer
D) The VREC may adopt this rule under its delegated rulemaking authority granted by 26 V.S.A. Chapter 41, subject to the Vermont Administrative Procedure Act rulemaking process.
Under 26 V.S.A. Chapter 41, the VREC is granted delegated rulemaking authority to adopt rules necessary to carry out its statutory mandate, including continuing education requirements. However, any new rule must be adopted through the Vermont Administrative Procedure Act (3 V.S.A. Chapter 25) process, which requires public notice, an opportunity for public comment, and legislative committee review before the rule takes effect.
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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.
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