KRS 324.281(5) and 324.282 require the Real Estate Commission, with the approval of the executive director of the Kentucky Real Estate Authority, to promulgate administrative regulations necessary to carry out and enforce the provisions of KRS Chapter 324.
KRS 324.040(2) requires applicants for licensure as a broker or sales associate to apply in writing on forms prepared or furnished by the Real Estate Com-mission. KRS 324.045(4) authorizes the commission to promulgate an administrative regulation to require a national criminal history check prior to licensure.
KRS 324.141(1) requires the commission to promulgate administrative regulations to establish reciprocal licensing procedures that allow out-of-state actively-licensed sales associates and brokers to apply for a Kentucky license that is the same as, or equivalent to, their out-of-state license.
KRS 324.090(1) requires the real estate commission to establish an expiration and renewal date for licenses.
KRS 324.310(1) requires the delivery of a sales associate’s license to the commission when an association with a principal broker is terminated, and KRS 324.310(2) authorizes a licensee to place his or her license into inactive status with the commission. KRS 324.330(1) requires notice to be given to the real estate commission when a licensee’s location, firm name, surname, or affiliation changes.
KRS 324.085(1) requires an actively-licensed agent, except an agent licensed prior to June 19, 1976 and a licensee satisfying the educational requirement in KRS 324.085(2), to successfully complete twelve (12) hours of mandatory continuing education for the biennial license period as a condition of licensure renewal, requires six (6) of the twelve (12) hours to be completed in the first year of the biennial license period, and requires that six (6) of the twelve (12) hours pertain to the study of real estate law.
KRS 324.085(2) requires a licensee who is issued an initial sales associate license after January 1, 2016, to complete forty-eight (48) classroom or online hours of commission-approved post-license education.
This administrative regulation establishes requirements for applying for initial licensure, license renewal, and reciprocal licensing; the commission’s criminal background check policies for all applicants; the procedures for a licensee to report changes to his or her contact information to the commission; the penalty for failure to comply with KRS 324.330; the procedure for the delivery of a sales associate’s license to the commission when affiliation with a principal broker is terminated; the requirements relating to pre-license education; continuing education, and post-license education and the disciplinary consequences for failing to comply with the requirements.