§ 12-10-206 — Real estate commission - created - compensation - immunity

(1)
There is created a commission of five members, appointed by the governor, which
shall administer parts 2 and 5 of this article 10. This commission is known as the
real estate commission. The commission is a type 1 entity, as defined in section 24-1-105, and consists of three real estate brokers who have had not less than five
years' experience in the real estate business in Colorado, one of whom has
substantial experience in property management, and two representatives of the
public at large. Members of the commission serve three-year terms. Upon the
death, resignation, removal, or otherwise of any member of the commission, the
governor shall appoint a member to fill out the unexpired term. The governor may
remove any member for misconduct, neglect of duty, or incompetence.

(2) Each member of the commission shall receive the same compensation
and reimbursement of expenses as those provided for members of boards and
commissions in the division of professions and occupations pursuant to section 12-20-103 (6). Payment for all such per diem compensation and expenses shall be
made out of annual appropriations from the division of real estate cash fund
provided for in section 12-10-215.

(3) Members of the commission, consultants, expert witnesses, and
complainants shall be immune from suit in any civil action based upon any
disciplinary proceedings or other official acts they performed in good faith.

(4) No real estate broker's license shall be denied, suspended, or revoked
except as determined by a majority vote of the members of the commission.

Legislative History

Source: L. 2019: Entire title R&RE with relocations, (HB 19-1172), ch. 136, p. 623, � 1, effective October 1. L. 2022: (1) amended, (SB 22-162), ch. 469, p. 3391, � 109, effective August 10.