Sec. 4. (a) To obtain approval of a broker course, a school shall:

(1) provide the curriculum prescribed in section 5 of this chapter;

Terms Used In Indiana Code 25-34.1-5-4

  • Broker: means a person who:

    Indiana Code 25-34.1-1-2

  • Commission: means the Indiana real estate commission. See Indiana Code 25-34.1-1-2
(2) have no more than thirty-five (35) students per instructor per classroom;

(3) provide adequate educational facilities and supportive personnel as is necessary to implement the purpose of this article;

(4) schedule not more than the maximum number of hours of instruction established by the commission in any twenty-four (24) hour period;

(5) administer at least two (2) written examinations during the broker course which are approved, and passing scores established, by the commission;

(6) within thirty (30) days of the end of each course, submit to the commission the names and addresses of those students who successfully complete the course;

(7) maintain records of students who successfully complete and pass the course of study for a minimum of five (5) years or, in the event the school should cease operation, the owner shall provide a custodian acceptable to the commission to keep those records and provide copies to students at the fee in effect when the school ceases operation; and

(8) meet any other standards the commission may establish by regulation.

     (b) Any instruction conducted in a broker office does not apply to the minimum hour requirements of section 5 of this chapter.

As added by Acts 1979, P.L.248, SEC.1. Amended by P.L.127-2012, SEC.28.

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