09.11.02 - Real Estate Commission - Final Regulations
FINAL ACTION ON REGULATIONS
MARYLAND REGISTER, VOLUME 42, ISSUE 9,
FRIDAY, MAY 1, 2015
DEPARTMENT OF LABOR, LICENSING, AND REGULATION
Subtitle 11 REAL ESTATE COMMISSION
09.11.02 Code of Ethics
Authority: Business Occupations and Professions Article, §17-207, Annotated Code of Maryland
Notice of Final Action
On March 18, 2015, the Real Estate Commission adopted amendments to Regulation .02 under COMAR 09.11.02 Code of Ethics. This action, which was proposed for adoption in 41:19 Md. R. 1085 (September 19, 2014), has been adopted with the nonsubstantive changes shown below.
Effective Date: June 1, 2015.
Attorney General’s Certification
In accordance with State Government Article, §10-113, Annotated Code of Maryland, the Attorney General certifies that the following changes do not differ substantively from the proposed text. The nature of the changes and the basis for this conclusion are as follows:
Regulation .02H(1): This change removes the existing language, which is inconsistent with a statutory provision that was passed subsequent to the adoption of the regulation. The new language is consistent with, and cross-references to, the relevant statutory provision.
Regulation .02H(2): This change was made to conform the language to the relevant statutory provision.
.02 Relations to the Client.
A. — G. (proposed text unchanged)
H. Presentation of Offers.
(1) [[ If more than one formal written offer on a specific property is made before the owner has accepted an offer, all formal written offers presented to the licensee, whether by a prospective purchaser or another broker, shall be transmitted to the owner for a decision.
(2)]] A licensee shall present all written offers or counteroffers received by the licensee to the client, as required by Business Occupations and Professions Article, §17-532(c)(ii)(3), Annotated Code of Maryland, in accordance with §H(2) of this regulation.
(2) [[All formal]] Unless otherwise specified in the brokerage agreement, all written offers [[presented to the owner in accordance with §H(1) of this regulation]] or counteroffers shall be presented to the client:
(a) [[in]] In full[[, in]]; and
(b) In hard copy or electronic format.
I. (proposed text unchanged)
J. NICHOLAS D’AMBROSIA
Real Estate Commission