(a) There is created the Tennessee real estate commission, referred to in this part as the “commission,” which consists of nine (9) members appointed by the governor, each of whom shall be a resident of this state and shall possess good moral character.
Terms Used In Tennessee Code 62-13-201
Affiliate broker: means any person engaged under contract by or on behalf of a licensed broker to participate in any activity included in subdivision (4). See Tennessee Code 62-13-102
Broker: means any person who, for a fee, commission, finders fee or any other valuable consideration or with the intent or expectation of receiving a fee, commission, finders fee or any other valuable consideration from another, solicits, negotiates or attempts to solicit or negotiate the listing, sale, purchase, exchange, lease or option to buy, sell, rent or exchange for any real estate or of the improvements on the real estate or any time-share interval as defined in the Tennessee Time-Share Act, compiled in title 66, chapter 32, part 1, collects rents or attempts to collect rents, auctions or offers to auction or who advertises or holds out as engaged in any of the foregoing. See Tennessee Code 62-13-102
Person: means and includes individuals, corporations, partnerships or associations, foreign and domestic. See Tennessee Code 62-13-102
Real estate: means and includes leaseholds, as well as any other interest or estate in land, whether corporeal, incorporeal, freehold or nonfreehold, and whether the real estate is situated in this state or elsewhere. See Tennessee Code 62-13-102
State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
(b) Seven (7) of the members shall each have been principally engaged as a licensed broker or affiliate broker in this state for at least five (5) years prior to the date of the member’s appointment and shall be of recognized business standing.(c) Each of the remaining two (2) members of the commission shall be a person who is not engaged in or conducting the business or acting in the capacity of a real estate broker or affiliate broker, nor shall the two (2) remaining members be engaged in the business of real estate financing or development.(d)(1) Every member of the commission shall be appointed for a term of five (5) years and shall serve until a successor is appointed and qualifies by subscribing to the constitutional oath of office, which shall be filed with the secretary of state.(2) Any vacancy occurring on the commission shall be filled by the governor for the unexpired term.(3) No members shall be appointed to succeed themselves for more than one (1) full term.(4) The governor may remove any member of the commission for misconduct, incompetency or willful neglect of duty.(5) Three (3) members shall be appointed from the eastern grand division, three (3) members shall be appointed from the middle grand division and three (3) members shall be appointed from the western grand division. No more than one (1) of the members appointed pursuant to subsection (c) shall reside in the same grand division. No more than three (3) of the members appointed pursuant to subsection (b) shall reside in the same grand division.(6) In making appointments to the commission, the governor shall strive to ensure that at least one (1) person serving on the commission is sixty (60) years of age or older and that at least one (1) person serving on the commission is a member of a racial minority.
