[THIS PAGE NOT FOR PUBLICATION IN THE CODE OF COLORADO REGULATIONS]

DEPARTMENT OF REGULATORY AGENCIES
DIVISION OF REAL ESTATE
REAL ESTATE BROKERS
4CCR 725-1

E-49 Immediate Notification of Conviction, Plea or Violation

Section 1.	Authority
Section 2.	Scope and Purpose
Section 3.	Applicability
Section 4. 	Rule Regarding Deadline for Conviction, Plea or Violation Reporting
Section 5.	Enforcement
Section 6	Effective Date

Section 1.	Authority

The statutory basis for the adoption of this rule regarding real estate brokers is Part 1 of Title 12, Article 61 C.R.S.  The specific rulemaking provisions contained therein are sections 12-61-114(4) and 12-61-114.5, C.R.S.

Section 2.	Scope and Purpose

Pursuant to section 12-61-113(1)(m.6), C.R.S., real estate brokers are required to immediately notify the Colorado Real Estate Commission in writing when they have entered a plea of guilt, plea of nolo contendere, or been convicted of any crimes specified in 12-61-113(1)(m), C.R.S.  Real estate brokers are also required to immediately notify the Commission in writing if they are found to be in violation or have aided and abetted a violation of the Colorado or federal fair housing laws.  Real estate licensees who have been disciplined by other jurisdictions for comparable license law violations or have had professional licenses disciplined are subject to discipline by the Colorado Real Estate Commission.

The purpose of this rule is to specifically define immediate notification in calendar days.

Section 3.	Applicability

This rule applies to real estate brokers licensed by the Colorado Real Estate Commission.

Section 4.	Immediate notification of conviction, plea or violation

E-49.  A licensee shall make written notification to the Commission within 30 calendar days of any of the following:
(a)  A plea of guilt, a plea of nolo contendere or a conviction of any crime identified by 12-61-113(1)(m), C.R.S.
(b)  A violation or aiding and abetting in the violation of the Colorado or federal fair housing laws.
(c)  Any disciplinary action taken against a licensee in any other jurisdiction, if the licensee’s action(s) would constitute a violation of the real estate license law in Colorado.
(d)  A suspension or revocation of a license, registration, or certification by Colorado or another state, within the last five years, for fraud, deceit, material misrepresentation, theft, or the breach of a fiduciary duty that denied the licensee the authorization to practice as a mortgage broker, a real estate broker or salesperson, a real estate appraiser, an insurance producer, an attorney, a securities broker-dealer, a securities sales representative, an investment advisor, or an investment advisor representative.  

[THIS PAGE NOT FOR PUBLICATION IN THE CODE OF COLORADO REGULATIONS]

Section 5.	Enforcement

1.	Noncompliance with this rule, whether defined or reasonably implied in the rule, may result in the imposition of any of the sanctions allowable under Colorado law, including but not limited to:
a.	Revocation;
b.	Refusal to renew a license; and
c.	Imposition of fines.

Section 6.	Effective Date

This permanent rule shall be effective October 30, 2008.