Current through Register Vol. 54, No. 49, December 7, 2024
Section 35.341 - Approval of real estate education providerA real estate education provider shall obtain the Commission's approval before commencing operations in this Commonwealth. To obtain approval from the Commission, the real estate education provider shall:
(1) Be owned by persons who possess good moral character or, if the owner is a corporation, have officers and directors who meet this requirement.(2) Have a name that is acceptable to the Commission.(3) Have a director of operations who meets the requirements of § 35.342 (relating to approval of real estate educational director).(4) Designate a person or entity to serve as custodian of records if the real estate education provider were to terminate operations.(5) Post a surety bond of $10,000 to the Commonwealth for the protection of the contractual rights of the real estate education provider's students.(6) Submit a completed real estate education provider approval application to the Commission with: (i) A completed real estate education provider owner application with:(A) A resume of the applicant's experience in owning, administrating or teaching in an accredited college as defined in § 35.201 (relating to definitions) or as a real estate education provider.(B) Two letters of reference from responsible persons relating to the applicant's integrity and to the applicant's previous experience, if any, in the administration of an educational program.(C) Certified copies of court documents related to a conviction of, or plea of guilty or nolo contendere to, a felony or misdemeanor and the sentence imposed.(ii) A completed real estate education provider director application with:(A) Credentials evidencing the qualifications required of the applicant under § 35.342.(B) Certified copies of court documents related to conviction of, or plea of guilty or nolo contendere to, a felony or misdemeanor and the sentence imposed.(iii) A fictitious name registration, if the real estate education provider has a fictitious name.(iv) A copy of the registration documentation approved by the Department's Corporation Bureau, if the real estate education provider is a corporation, limited liability partnership, limited partnership or limited liability company.(v) A copy of the surety bond required under paragraph (5).(vi) A copy of the student enrollment agreement.(vii) A copy of the school transcript.(viii) A statement of the prerequisites for admission.(ix) A statement of policy regarding refund of tuition and other fees.(x) The approval fee prescribed in § 35.203 (relating to fees).(xi) For the main school location and each proposed satellite location, a sketch or photograph of the real estate education provider's sign.The provisions of this § 35.341 adopted February 24, 1989, effective 2/25/1989, 19 Pa.B. 781; amended June 10, 1994, effective 6/11/1994, 24 Pa.B. 2904; amended December 10, 2004, effective 12/11/2004, 34 Pa.B. 6530; corrected March 4, 2005, effective 12/11/2004, 35 Pa.B. 1567; amended December 21, 2012, effective 12/22/2012, 42 Pa.B. 7647.The provisions of this § 35.341 issued under the Real Estate Licensing and Registration Act (63 P. S. §§ 455.101-455.902); amended under section 404.1 of the Real Estate Licensing and Registration Act (63 P. S. § 455.404a).
This section cited in 49 Pa. Code § 35.271 (relating to examination for broker's license); 49 Pa. Code § 35.272 (relating to examination for salesperson's license); 49 Pa. Code § 35.273 (relating to examination for cemetery broker's license); 49 Pa. Code § 35.275 (relating to examination for rental listing referral agent's license); 49 Pa. Code § 35.342 (relating to approval of educational director); 49 Pa. Code § 35.344 (relating to withdrawal of real estate education provider or director approval); 49 Pa. Code § 35.354 (relating to prohibited forms of advertising and solicitation); and 49 Pa. Code § 35.385 (relating to continuing education providers).