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Code of Colorado Regulations eDocket
Official Publication of the State Administrative Rules (24-4-103(11) C.R.S.)

Details of Tracking Number  2019-00295


CCR details

Tracking Number 2019-00295
Type of Filing Permanent Rule
Department 700 Department of Regulatory Agencies
Agency 725 Division of Real Estate
CCR Number 4 CCR 725-1
CCR Title RULES REGARDING REAL ESTATE BROKERS

Proposed rule

Notice Filed with SOS 06/28/2019
Rule ProposedRuleAttach2019-00295.pdf
Statutory Authority Part 1 of Title 12, Article 61, Colorado Revised Statutes, as amended by House Bill 19-1172.
Description of Subjects/Issues CHAPTER 5. SEPARATE ACCOUNTS AND ACCOUNTING
Purpose/Objective of Rule The specific purpose of this rulemaking is to add, modify and amend the trust and escrow account requirements and accounting methods for real estate brokers as a result of the mandatory rule review required by section 24-4-103.3., C.R.S. The Division of Real Estate conducted a review of all of its rules relating to the real estate practice act to assess the continuing need for and the appropriateness and cost-effectiveness of its rules. The review also determined whether the rules should be continued in their current form, modified, or repealed. After consultation with stakeholders, the proposed rules have been re-organized, re-indexed, and correctly categorized. As a result, Chapter 5 sets forth the trust and escrow account requirements for real estate brokers. This rulemaking also revises the statutory citations as a result of the passage of House Bill 19-1172.
Basis And Purpose BasisAndPurposeAttachment2019-00295.pdf
Comments Recodification: Chapters 1-9 eff. 1/1/2020. Rules A-G, I, K repealed eff. 1/1/2020; adopted 8/5/2019.
Submitted in response to issues raised by COLS/OLLS? No
Is this rule adopted in response to recent legislation? Yes
Recent legislation bill number SB14-063
Hearing Date 08/05/2019
Hearing Time 09:00 AM
Hearing Location 1560 Broadway, Suite 110-D, Denver, CO 80202
Contact Name Martha Torres-Recinos
Contact Title Rulemaking Administrator
Contact Telephone 303-894-2359
Contact email martha.torres-recinos@state.co.us

Adopted rule

Adopted Rules AdoptedRules02019-00295.rtf
Redline Redline2019-00295.pdf
Adopted Date 08/05/2019
AGO requested date 08/08/2019
Attorney General Opinion 08/23/2019
Colorado Register publication date 09/10/2019
Effective Date 01/01/2020
Inserted into CCR 12/26/2019