Louisiana Real Estate - Real Estate
Commission
What is the Louisiana License Law? - ANS-Created the Louisiana Real Estate Commission
Allows them to establish rules to regulate the industry
Primary purpose of Law & Commission is to protect the public
How many members on the LAREC? - ANS-11 members APPOINTED BY THE GOVERNOR
7-appointed from each of the Supreme Court Districtws
2-appointed at large
1-appointed from 1 2 3 6 7 congressional districts
1-appointed from 4 & 5
How long do LREC members serve? - ANS-6 year terms
1 term only
Terms are staggered
What are the requirements for LREC position? - ANS-1) Citizen of Louisiana
2) Qualified elector
3) Must be actively engaged as a broker for at least 5 years
4) Must be licensed for 9 yrs
How are officers chosen? How many? What roles? - ANS-Commission elects officers from it's
membership
3 officer positions: Chairman, Vice Chairman, Secretary
How many members make up a quorum for all business? - ANS-5
How many meetings are held? - ANS-Commission meets at least quarterly-more often if
necessary
Limited however to 2 regularly scheduled meetings per month
Additional meetings have to be called by application in writing of 3 members
How are Commission members compensated? - ANS-Not more than $50 a day plus expenses
(travel, meals, mileage)
What does the LREC have the power & authority to do? - ANS-1) Regulate licenses (agents),
registrations (brokers), and certificates (real estate schools, time shares)
2) Censure licenses, registrants & certificate holders
3) Suspend or revoke licenses, registrations & certificates
Commission
What is the Louisiana License Law? - ANS-Created the Louisiana Real Estate Commission
Allows them to establish rules to regulate the industry
Primary purpose of Law & Commission is to protect the public
How many members on the LAREC? - ANS-11 members APPOINTED BY THE GOVERNOR
7-appointed from each of the Supreme Court Districtws
2-appointed at large
1-appointed from 1 2 3 6 7 congressional districts
1-appointed from 4 & 5
How long do LREC members serve? - ANS-6 year terms
1 term only
Terms are staggered
What are the requirements for LREC position? - ANS-1) Citizen of Louisiana
2) Qualified elector
3) Must be actively engaged as a broker for at least 5 years
4) Must be licensed for 9 yrs
How are officers chosen? How many? What roles? - ANS-Commission elects officers from it's
membership
3 officer positions: Chairman, Vice Chairman, Secretary
How many members make up a quorum for all business? - ANS-5
How many meetings are held? - ANS-Commission meets at least quarterly-more often if
necessary
Limited however to 2 regularly scheduled meetings per month
Additional meetings have to be called by application in writing of 3 members
How are Commission members compensated? - ANS-Not more than $50 a day plus expenses
(travel, meals, mileage)
What does the LREC have the power & authority to do? - ANS-1) Regulate licenses (agents),
registrations (brokers), and certificates (real estate schools, time shares)
2) Censure licenses, registrants & certificate holders
3) Suspend or revoke licenses, registrations & certificates
