Kentucky Statutes 324.400 – Real estate education, research, and recovery fund — Fees
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(1) There is hereby created and established in the State Treasury the real estate education, research, and recovery fund.
(2) In addition to the license fees provided for in KRS § 324.287, upon renewal of every broker‘s and sales associate‘s license, as well as any and all other types of licenses, if any, issued by the commission, as of June 30, 1972, and every regular biennial renewal date thereafter, the commission shall charge each of the aforesaid licensees an amount not to exceed sixty dollars ($60) per year to be included in the real estate education, research, and recovery fund. Each and every original applicant for a license after July 1, 1972, shall likewise submit to the commission an additional fee not to exceed sixty dollars ($60) to be deposited in the real estate education, research, and recovery fund and shall also be subjected thereafter to a biennial renewal fee as of the regular renewal period.
Effective: June 27, 2019
History: Amended 2019 Ky. Acts ch. 135, sec. 8, effective June 27, 2019. — Amended
2000 Ky. Acts ch. 488, sec. 31, effective July 14, 2000. — Amended 1982 Ky. Acts ch. 196, sec. 31, effective July 15, 1982. — Created 1972 Ky. Acts ch. 51, sec. 1.
(2) In addition to the license fees provided for in KRS § 324.287, upon renewal of every broker‘s and sales associate‘s license, as well as any and all other types of licenses, if any, issued by the commission, as of June 30, 1972, and every regular biennial renewal date thereafter, the commission shall charge each of the aforesaid licensees an amount not to exceed sixty dollars ($60) per year to be included in the real estate education, research, and recovery fund. Each and every original applicant for a license after July 1, 1972, shall likewise submit to the commission an additional fee not to exceed sixty dollars ($60) to be deposited in the real estate education, research, and recovery fund and shall also be subjected thereafter to a biennial renewal fee as of the regular renewal period.
Terms Used In Kentucky Statutes 324.400
- Broker: means any person who is licensed under KRS §. See Kentucky Statutes 324.010
- Commission: means the Kentucky Real Estate Commission. See Kentucky Statutes 324.010
- Real estate: means real estate in its ordinary meaning and includes timeshares, options, leaseholds, and other interests less than leaseholds. See Kentucky Statutes 324.010
- Sales associate: means any person licensed in accordance with KRS §. See Kentucky Statutes 324.010
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
- Year: means calendar year. See Kentucky Statutes 446.010
Effective: June 27, 2019
History: Amended 2019 Ky. Acts ch. 135, sec. 8, effective June 27, 2019. — Amended
2000 Ky. Acts ch. 488, sec. 31, effective July 14, 2000. — Amended 1982 Ky. Acts ch. 196, sec. 31, effective July 15, 1982. — Created 1972 Ky. Acts ch. 51, sec. 1.