Tenn. Comp. R. & Regs. 1260-01-.11 - USE OF EDUCATION AND RECOVERY ACCOUNT EARNINGS

(1) The Commission may utilize earnings of the real estate education and recovery account (established by T.C.A. § 62-13-208) to cover expenses incurred in:

(a) The performance of functions authorized by T.C.A. §§ 62-13-107 and 62-13-108; and

(b) The preparation and dissemination of information for the benefit of licensees, including whatever training of Commission members and staff is reasonably necessary to enable them to advise licensees on pertinent subjects. (Such training may entail procurement of publications and materials; attendance at seminars and conferences; et cetera.)

(2) Without limiting the generality of paragraph (1) of this rule, the Commission may utilize education and recovery account earnings to:

(a) Hold or assist in holding seminars concerning regulatory matters and business practices affecting licenses;

(b) Monitor and evaluate approved post-licensing courses in real estate in order to ensure that they are structured and conducted to provide maximum benefit to licensees; and

(c) Publish and distribute a newsletter containing information of interest to licensees.

(3) This rule shall not be construed to:

(a) Authorize any expenditure or commitment of funds hereunder which would reduce the balance in the education and recovery account to an amount less than five hundred thousand dollars ($500,000.00); or

(b) Preclude the expenditure or commitment of funds specifically appropriated by the General Assembly for any purpose.

Notes

Tenn. Comp. R. & Regs. 1260-01-.11

Original rule filed April 30, 1987; effective June 14, 1987.

Authority: T.C.A. §§ 62-13-103 and 62-13-208.