§ 442-k. Powers and duties of the state real estate board. 1. The\nstate real estate board shall have the power to promulgate rules or\nregulations affecting brokers and sales persons in order to administer\nand effectuate the purposes of this article, except that matters\npertaining to commingling money of a principal, rendering accounts for a\nclient, managing property for a client, broker's purchase of property\nlisted with him or her, inducing breach of contract of sale or lease,\nand records of transactions to be maintained are reserved for the\nexclusive regulatory authority of the secretary of state. The secretary\nof state, and not the state real estate board, shall promulgate rules\nand regulations to administer or implement the provisions of sections\nfour hundred forty-one and four hundred forty-two-h of this article. In\naddition, the secretary of state shall have exclusive regulatory\nauthority to promulgate rules regarding the duties and responsibilities\nof real estate brokers and salespersons with regard to the handling of\nclients' funds.\n 2. Authority to examine applicants. The board is empowered to\nprescribe the content for the courses of study for the examination and\neducation of persons licensed under this article. The board shall advise\nthe secretary of state on policies governing the administration of the\nexaminations.\n 3. Approval of schools. The board shall establish the rules and\nregulations governing the approval by the secretary of state of schools\nto offer or conduct courses required either for licensure under this\narticle or for the satisfaction of the continuing education requirements\ncontained in paragraph (a) of subdivision three of section four hundred\nforty-one of this article.\n 4. Study of laws and regulations. The board shall study the operation\nof laws and regulations with respect to the rights, responsibilities and\nliabilities of real estate licensees arising out of the transfer of\ninterests in real property and shall make recommendation on pending or\nproposed legislation affecting the same, with the exception of\nlegislation affecting section four hundred forty-two-h of this article.\n 5. Enforcement programs and activities. The board shall advise and\nassist the secretary of state in carrying out the provisions and\npurposes of this article and make recommendations concerning the\nprograms and activities of the department in connection with the\nenforcement of this article.\n 6. Administration and enforcement. The department of state shall have\nthe power and its duty shall be to administer and enforce the laws and\nregulations of the state relating to those activities involving real\nestate for which licensing is required under this article and to\ninstruct and require its agents to bring prosecutions for unauthorized\nand unlawful practice.\n 7. Reports to legislative committees. The board shall submit annually\na report to the judiciary committee of the state assembly and the\njudiciary committee of the state senate, containing a description of the\ntypes of complaints received, status of cases, and the length of time\nfrom the initial complaint to any final disposition.\n
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