N.Y. Real Property Law § 442-k: Powers and duties of the state real estate board

§ 442-k. Powers and duties of the state real estate board. 1. The

state real estate board shall have the power to promulgate rules or

regulations affecting brokers and sales persons in order to administer

and effectuate the purposes of this article, except that matters

pertaining to commingling money of a principal, rendering accounts for a

client, managing property for a client, broker's purchase of property

listed with him or her, inducing breach of contract of sale or lease,

and records of transactions to be maintained are reserved for the

exclusive regulatory authority of the secretary of state. The secretary

of state, and not the state real estate board, shall promulgate rules

and regulations to administer or implement the provisions of sections

four hundred forty-one and four hundred forty-two-h of this article. In

addition, the secretary of state shall have exclusive regulatory

authority to promulgate rules regarding the duties and responsibilities

of real estate brokers and salespersons with regard to the handling of

clients' funds.

2. Authority to examine applicants. The board is empowered to

prescribe the content for the courses of study for the examination and

education of persons licensed under this article. The board shall advise

the secretary of state on policies governing the administration of the

examinations.

3. Approval of schools. The board shall establish the rules and

regulations governing the approval by the secretary of state of schools

to offer or conduct courses required either for licensure under this

article or for the satisfaction of the continuing education requirements

contained in paragraph (a) of subdivision three of section four hundred

forty-one of this article.

4. Study of laws and regulations. The board shall study the operation

of laws and regulations with respect to the rights, responsibilities and

liabilities of real estate licensees arising out of the transfer of

interests in real property and shall make recommendation on pending or

proposed legislation affecting the same, with the exception of

legislation affecting section four hundred forty-two-h of this article.

5. Enforcement programs and activities. The board shall advise and

assist the secretary of state in carrying out the provisions and

purposes of this article and make recommendations concerning the

programs and activities of the department in connection with the

enforcement of this article.

6. Administration and enforcement. The department of state shall have

the power and its duty shall be to administer and enforce the laws and

regulations of the state relating to those activities involving real

estate for which licensing is required under this article and to

instruct and require its agents to bring prosecutions for unauthorized

and unlawful practice.

7. Reports to legislative committees. The board shall submit annually

a report to the judiciary committee of the state assembly and the

judiciary committee of the state senate, containing a description of the

types of complaints received, status of cases, and the length of time

from the initial complaint to any final disposition.