Section 858-208 - [Effective 11/1/2024] Powers and duties of Commission The Oklahoma Real Estate Commission shall have the following powers and duties:
1. To promulgate rules, prescribe administrative fees by rule, and make orders as it may deem necessary or expedient in the performance of its duties;2. To administer or cause to be administered examinations to persons who apply for the issuance of licenses;3. To sell to other entities or governmental bodies, not limited to the State of Oklahoma, computer testing and license applications to recover expended research and development costs;4. To issue licenses in the form the Commission may prescribe to persons who have passed examinations or who otherwise are entitled to such licenses;5. To issue licenses to and regulate the activities of real estate brokers, provisional sales associates, sales associates, branch offices, nonresidents, associations, corporations, and partnerships;6. Upon showing good cause as provided for in The Oklahoma Real Estate License Code, to discipline licensees, instructors and real estate school entities by: b. probation for a specified period of time,c. requiring education in addition to the educational requirements provided by Section 858-307.2 of this title,d. suspending real estate licenses and approvals for specified periods of time,e. revoking real estate licenses and approvals,f. imposing administrative fines pursuant to Section 858-402 of this title, org. any combination of discipline as provided by subparagraphs a through f of this paragraph;7. Upon showing good cause, to modify any sanction imposed pursuant to the provisions of this section and to reinstate licenses;8. To conduct, for cause, disciplinary proceedings;9. To prescribe penalties as it may deem proper to be assessed against licensees for the failure to pay the license renewal fees as provided for in this Code;10. To initiate the prosecution of any person who violates any of the provisions of this Code;11. To approve instructors and organizations offering courses of study in real estate and to further require them to meet standards to remain qualified as is necessary for the administration of this Code;12. To contract with attorneys and other professionals to carry out the functions and purposes of this Code;13. To apply for injunctions and restraining orders to enforce the provisions of applicable laws, rules, and regulations for violations of the Code or the rules of the Commission;14. To create an Oklahoma Real Estate Contract Form Committee by rule that will be required to draft and revise real estate purchase and/or lease contracts and any related addenda for voluntary use by real estate licensees;15. To enter into contracts and agreements for the payment of food and other reasonable expenses as authorized in the State Travel Reimbursement Act necessary to host, conduct, or participate in meetings or training sessions as is reasonable for the administration of this Code;16. To conduct an annual performance review of the Executive Director and submit the report to the Legislature; 17. To enter into reciprocal agreements with other real estate licensing regulatory jurisdictions with equivalent licensing, education and examination requirements;18. To issue cease and desist orders to any person or business entity that is in violation of any provision of the Oklahoma Real Estate License Code or administrative rule; and19. To contract with debt collection attorneys or debt collection entities to recover unpaid administrative fines.Okla. Stat. tit. 59, § 858-208
Amended by Laws 2024, c. 159,s. 3, eff. 11/1/2024.Added by Laws 1974, HB 1565, c. 121, § 208, emerg. eff. 7/1/1974; Amended by Laws 1980, SB 370, c. 165, § 1, eff. 10/1/1980; Amended by Laws 1984, HB 1701, c. 74, § 1, eff. 11/1/1984; Amended by Laws 1989, HB 1580, c. 235, § 2, emerg. eff. 5/12/1989; Amended by Laws 1990, SB 781, c. 264, § 126, emerg. eff. 7/1/1990; Amended by Laws 1991, HB 1433, c. 43, § 3, emerg. eff. 7/1/1993; Amended by Laws 1993, HB 1287, c. 54, § 1, eff. 9/1/1993; Amended by Laws 1994, SB 742, c. 149, § 2, emerg. eff. 7/1/1995; Amended by Laws 1996, SB 786, c. 159, § 1, eff. 11/1/1996; Amended by Laws 2001 , HB 1134, c. 235, §2, emerg. eff. 8/1/2001; Amended by Laws 2005 , HB 1608, c. 85, §1, eff. 11/1/2005; Amended by Laws 2007 , SB 1006, c. 42, §2, eff. 1/1/2008; Amended by Laws 2008 , HB 2564, c. 274, §1, eff. 11/1/2008.This section is set out more than once due to postponed, multiple, or conflicting amendments.