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ID S1008
Bill
Status
3/20/2015
Primary Sponsor
Commerce and Human Resources Committee
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AI Summary
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Removes subsection (8) from Idaho Code Section 54-2013, which previously authorized the commission to charge an administrative fee not to exceed $10.00 per licensee for errors and omissions insurance administration.
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Retains all other provisions of Section 54-2013 regarding mandatory errors and omissions insurance requirements for active real estate licensees.
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Maintains the $250 per year maximum premium cap for insurance coverage, which now applies without reference to a separate administrative fee structure.
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Keeps in place licensees' options to obtain insurance through the commission or independently, provided independent policies meet commission-established minimum requirements.
Legislative Description
Amends existing law to remove obsolete language relating to a fee.
REAL ESTATE
Last Action
Signed by Governor on 03/20/15 Session Law Chapter 72 Effective: 07/01/2015
3/20/2015