ADRE LAW BOOK 2025

32-2102. Administration of chapter by real estate department; purpose This chapter shall be administered by the state real estate department under the direction of the real estate commissioner. The purpose of the department in administering this chapter is to protect the public interest through licensure and regulation of the real estate profession in this state. 32-2103. Placement of monies collected; revision of fees A. The department shall deposit, pursuant to sections 35-146 and 35-147, all monies collected under the provisions of this chapter in the state general fund unless otherwise prescribed by law. B. Each year the commissioner shall revise all fees collected under this chapter within the limits prescribed by this chapter in such a manner that the revenue derived from such fees equals at least ninety-five per cent but not more than one hundred ten per cent of the anticipated appropriated budget for the department for the succeeding fiscal year. If the revenue derived from the fees ex ceeds one hundred ten per cent of the anticipated appropriated budget for the department for the succeeding fiscal year, the commissioner shall lower the fees in the succeeding year in proportion to the excess. 32-2104. Real estate advisory board; members; terms; qualifications; compensation; chair man; duties Amended by Ariz. Sess. Laws Ch. 52, (2024) A. The real estate advisory board is established composed of ten members who are appointed by the governor. The term of office of each member is six years, and the terms of three members expire on January 31 of each odd-numbered year. Appointment to fill a vacancy occurring other than by expiration of term shall be filled by appointment for the unexpired portion of the term only. B. The membership of the board shall consist of: 1. Two members, each of whom is a real estate broker or real estate salesperson or real estate salesperson with at least five years of residential residential brokerage experience in this state. Not more than one member shall be appointed from any one county. 2. One member who has been engaged in a commercial a commercial real estate brokerage for the five years immediately preceding appointment, and one of whom has been engaged in multi family residential rental property management with a real estate broker license for the five years immediately preceding appointment. 3. One member who has been engaged in multifamily residential rental property manage ment with a real estate broker license for the five years immediately preceding appointment. 4. One member who has been engaged in timeshare, campground or cemetery sales for the five years immediately preceding appointment. 5. One member who has been primarily engaged in subdividing real property for the five years immediately preceding appointment. 6. One member who has been an active school administrator or approved instructor for the five years immediately preceding appointment. 7. Three public members who are not related within the third degree of consanguinity or affinity to any person holding a broker’s or salesperson’s license from this state. C. Members of the board shall receive no compensation but shall be reimbursed for subsistence expenses pursuant to section 38-624 and travel expenses pursuant to section 38-623. D. The board annually shall select from its membership a chairperson for the board.

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