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ID S1008

Bill

Status

Passed

3/20/2015

Primary Sponsor

Commerce and Human Resources Committee

Click for details

Origin

Senate

2015 Regular Session

AI Summary

  • 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.

  • Retains all other provisions of Section 54-2013 regarding mandatory errors and omissions insurance requirements for active real estate licensees.

  • Maintains the $250 per year maximum premium cap for insurance coverage, which now applies without reference to a separate administrative fee structure.

  • 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

Committee Referrals

Business2/25/2015
Judiciary and Rules1/23/2015

Full Bill Text

No bill text available