Indiana Code > Title 25 > Article 34.1 > Chapter 1 – Definitions and General Provisions
Current as of: 2023 | Check for updates
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| § 25-34.1-1-1 | Short title |
| § 25-34.1-1-2 | Definitions |
| § 25-34.1-1-3 | Nonconflicting rules to remain in effect |
| § 25-34.1-1-4 | Term of license |
Terms Used In Indiana Code > Title 25 > Article 34.1 > Chapter 1 - Definitions and General Provisions
- Board: refers to the real estate appraiser licensure and certification board established under Indiana Code 25-34.1-1-2
- Broker: means a person who:
Indiana Code 25-34.1-1-2
- Broker company: means a licensee that is a business engaged in the activities described in Indiana Code 25-34.1-1-2
- Commission: means the Indiana real estate commission. See Indiana Code 25-34.1-1-2
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- License: means a broker license issued under this article and which is not expired, suspended, or revoked. See Indiana Code 25-34.1-1-2
- Licensee: means a person who holds a license issued under this article. See Indiana Code 25-34.1-1-2
- Licensing agency: means the Indiana professional licensing agency established by IC 25-1-5-3. See Indiana Code 25-34.1-1-2
- Managing broker: refers to an individual broker whom the commission holds responsible for the actions of licensees who are affiliated with the broker company. See Indiana Code 25-34.1-1-2
- Out-of-state commercial broker: includes a person, a partnership, an association, a limited liability company, a limited liability partnership, or a corporation that is licensed to do business as a broker in a jurisdiction other than Indiana. See Indiana Code 25-34.1-1-2
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: means an individual, a partnership, a corporation, or a limited liability company. See Indiana Code 25-34.1-1-2
- Real estate: means any right, title, or interest in real property. See Indiana Code 25-34.1-1-2