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Iowa Code Title XIII. Commerce [Chs. 505-554D] § 543B.8. Real estate commission created--staff

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1. A real estate commission is created within the professional licensing and regulation bureau of the banking division of the department of commerce.  The commission consists of five members licensed under this chapter and two members not licensed under this chapter and who shall represent the general public.  Commission members shall be appointed by the governor subject to confirmation by the senate.

2. No more than one member shall be appointed from a county.  A commission member shall not hold any other elective or appointive state or federal office.  At least one of the licensed members shall be a licensed real estate salesperson, except that if the licensed real estate salesperson becomes a licensed real estate broker during a term of office, that person may complete the term, but is not eligible for reappointment on the commission as a licensed real estate salesperson.  A licensed member shall be actively engaged in the real estate business and shall have been so engaged for five years preceding the appointment, the last two of which shall have been in Iowa.  Professional associations or societies of real estate brokers or real estate salespersons may recommend the names of potential commission members to the governor.  However, the governor is not bound by their recommendations.  A commission member shall not be required to be a member of any professional association or society composed of real estate brokers or salespersons.

3. Appointments shall be for three-year terms and shall commence and end as provided in section 69.19.  A member shall serve no more than three terms or nine years, whichever is less.   Vacancies shall be filled for the unexpired term by appointment of the governor and are subject to senate confirmation.

4. A majority of the commission members constitutes a quorum.

5. The administrator of the professional licensing and regulation bureau of the banking division shall hire and provide staff to assist the commission with implementing this chapter.  The administrator of the professional licensing and regulation bureau of the banking division of the department of commerce shall hire a real estate education director to assist the commission in administering education programs for the commission.

Cite this article: FindLaw.com - Iowa Code Title XIII. Commerce [Chs. 505-554D] § 543B.8. Real estate commission created--staff - last updated January 01, 2020 | https://codes.findlaw.com/ia/title-xiii-commerce-chs-505-554d/ia-code-sect-543b-8/


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