54.1-2105.02 - Regulation of real estate education providers and courses.
§ 54.1-2105.02. Regulation of real estate education providers and courses.
A. The Board may regulate any school that is established to offer real estatecourses except such schools as are regulated by another state agency. Suchauthority shall include, but not be limited to, qualification of instructors,approval of course curricula, and requirement that such schools submitevidence of financial responsibility to ensure that these schools protect thepublic health, safety, and welfare.
B. Board regulations shall include a procedure for processing applications ofeducational institutions, real estate professional associations, or relatedentities, to provide continuing education courses, which procedure, at aminimum, shall (i) provide for a broad range of subject matters suitable forthe continuing education of licensed professionals in a multifamilyresidential and commercial office, as well as single-family residential,sales, leasing and property management; (ii) acknowledge, in writing, receiptof such applications within 10 calendar days after receipt; and (iii) providewritten notification to the applicant, within 75 calendar days of receipt ofthe application, whether the application has been approved or disapproved,and if disapproved, the reasons therefor. In addition, the Board shallprepare a comprehensive listing of courses, pre-approved by the Board,related to the professional competency requirements for the multifamilyresidential and commercial office industries.
Board regulations shall include criteria for evaluating and approvingcontinuing education course credits and for awarding credit hours for suchcourses, as well as procedures for ensuring the quality of real estatecourses. The Board shall approve recommended course titles, content, andhours of continuing education credit developed and published by nationalprofessional real estate trade associations, unless the Board determines inwriting that such titles, content, or credit hours should not be approved andspecifies the reasons therefor.
(2007, c. 809.)