Vermont Statutes Title 26 Sec. 2251
Terms Used In Vermont Statutes Title 26 Sec. 2251
- broker: means any person who, for another, for a fee, commission, salary, or other consideration, or with the intention or expectation of receiving or collecting such compensation from another, engages in or offers or attempts to engage in, either directly or indirectly, by a continuing course of conduct, any of the following acts:
- Commission: means the Vermont Real Estate Commission. See
- real estate: shall include lands, tenements, and hereditaments and all rights thereto and interests therein, and pews or slips in places of public worship shall be treated as real estate. See
- salesperson: means any person who for a fee, compensation, salary, or other consideration, or in the expectation or upon the promise thereof, is employed by or associated with a licensed real estate broker to do any act or deal in any transaction as provided in subdivision (4) of this subsection for or on behalf of a licensed real estate broker. See
§ 2251. Real Estate Commission
(a) A Vermont Real Estate Commission is created, consisting of seven members. One member of the Commission shall be an attorney at law. Two shall be members of the public who have no financial interest in the activities regulated under this chapter, other than as consumers or possible consumers of its services. These persons shall have no financial interest personally or through a spouse, parent, child, brother, or sister. “Financial interest” means dealing in goods or services that are uniquely related to activities regulated under this chapter, or investing anything of value in a business licensed under this chapter.
(b) Three members of the Commission shall be licensed real estate brokers whose vocations shall have been that of real estate broker for at least four years. At least one of the broker members shall not be a member of a professional real estate association at the time of appointment or at any time during tenure as a member. One of the Commission members shall be a licensed salesperson. If a salesperson becomes a broker while serving on the Commission, that salesperson shall become ineligible to continue to serve as the salesperson member of the Commission.
(c) Commission members shall be appointed by the Governor pursuant to 3 V.S.A. §§ 129b and 2004. To the extent possible, appointments shall be geographically representative. (Amended 1963, No. 193, § 13, eff. June 28, 1963; 1969, No. 283 (Adj. Sess.), § 2; 1985, No. 6, § 1; 2005, No. 27, § 65.)