Sec. 1. 32 MRSA §13007 is enacted to read:

§13007.__Property management; rental; leasing

A person or entity licensed under this chapter who engages in property management, rental or leasing is governed by the same standards and requirements for property management, rental or leasing as for real estate brokerage.__The Real Estate Commission may adopt additional rules to carry out the purposes of this section.__Rules adopted pursuant to this section are routine technical rules pursuant to Title 5, chapter 375, subchapter II- A.

Sec. 2. 32 MRSA §13067, sub-§1, śL, as amended by PL 1991, c. 53, §4, is further amended to read:

L. Failure to produce to the director any requested documents in the licensee's possession or under the licensee's control concerning any transaction under investigation; and

Sec. 3. 32 MRSA §13067, sub-§1, śM, as amended by PL 1991, c. 53, §5, is further amended to read:

M. Failing to comply with a commission order or the terms of an executed and approved consent agreement.; and

Sec. 4. 32 MRSA §13067, sub-§1, śN is enacted to read:

N.__Misrepresenting the uses of property that are permitted by municipal, state or federal law.

SUMMARY

The bill expands the jurisdiction of the Real Estate Commission to supervise and oversee licensed real estate brokers who also engage in property management, rental or leasing of real estate. The bill also establishes a specific standard of cause for disciplinary action that could be imposed against a real estate broker who misrepresents the uses of property that are permitted by municipal, state or federal law.