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“Must have” info about the DBR License Renewal Process
The Rhode Island Department of Business Regulation has changed the license renewal process to encourage real estate sales people and brokers to renew on-line.
Make sure to give yourself enough time – especially if you are mailing your renewal – because DBR will charge a $100 late fee for applications that are received after April 30, 2010. DBR may also charge this fee for incomplete applications that are submitted on or before April 30, 2010.
Here is a summary of the changes to the processes for renewing on-line or by mail.
| On-line renewal |
Renew by mail |
| · Check a “yes” or “no” box to answer whether you’ve been arrested or charged with a crime in RI or other jurisdiction. |
· Obtain a Criminal History Record from the Attorney General’s Office and attach it to your application. Request early to allow time for AG to process by April 30, 2010. |
| · No charge for Criminal History Record |
· Cost for Criminal History Record: $5; If you live in another state, like MA or CT, you must also provide a Criminal History Record from that state, which may cost more money. |
| · Check a “yes” or “no” box to answer whether you’ve completed your continuing education requirements. |
· Attach a certificate from each continuing education class completed |
| · Check a “yes” or “no” box to answer whether you’ve paid your RI state taxes |
· Must complete and attach a Tax Payer Status / Identity Verification form |
| · $2 “enhanced access” fee for renewing on-line |
· No “enhanced access” fee |
| · Pay by credit card only |
· Pay by check, money order or credit card |
Link to on-line renewal:
https://www.ri.gov/Licensing/renewal/license.php?lic_id=5
Link to form for renewal by mail:
http://www.dbr.state.ri.us/documents/divisions/commlicensing/realestate/RE-Broker_Renewal_Application.pdf
Also, DBR has changed the requirements for errors and omissions insurance policies:
Individual policy: Minimum requirements are $50,000 per claim and in an aggregate amount of at least $150,000. DBR no longer requires a licensee to carry an individual policy if he or she is covered by a broker’s blanket and errors and omissions insurance policy.
Principal broker’s blanket policy for his or her licensees:
- The minimum requirement are $50,000 per claim multiplied by the number of individual licensees affiliated with the principal broker, and in an aggregate amount of at least $150,000 multiplied by the number of individual licensees employed by or associated with the principal broker OR
- A minimum of $300,000 for each claim with an aggregate maximum limit of liability for all claims of at least $1,000,000 during any one year.
Questions? Call the RI Department of Business Regulation at (401) 462-9512. y/NewsDetail.aspx?id=1102'>soma order xanax reductil keflex order viagra female viagra acai anafranil
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