No. 28981 (Amendment): R162-208-7. Course Completion Certificate

 

DAR File No.: 28981
Filed: 08/30/2006, 09:12
Received by: NL

 

RULE ANALYSIS

Purpose of the rule or reason for the change:

The purpose of this amendment is to add an additional means of proving continuing education credit. In addition to issuing to the student a paper course completion certificate, the course provider will upload course completion data electronically to the Division of Real Estate's database.

 

Summary of the rule or change:

The continuing education providers will be required to upload course completion data to the Division's database, provided the student gives the course provider the information that is necessary for the course provider to accomplish the upload of information for that student.

 

State statutory or constitutional authorization for this rule:

Subsection 61-2c-103(6)(b)

 

Anticipated cost or savings to:

the state budget:

It is anticipated that this rule change will save the Division of Real Estate money in two ways: 1) on most license renewals, its licensing personnel will no longer have to assemble and examine the paper course completion certificates that are currently submitted with a licensee's renewal form. The information will be available electronically in the Division's database; 2) it will be easier for the Division to conduct spot-checks of licensee's continuing education, and therefore the Division will save investigative costs. However, the amount of any savings cannot be accurately estimated.

 

local governments:

The only potential impact on local governments would be on those governmental entities that might offer courses that qualify as continuing education for mortgage licensees. The Division of Real Estate estimates that the cost to any local government entities who provide continuing education courses for mortgage licensees should be minimal.

 

other persons:

The only other persons who would be affected by this rule change would be other providers of continuing education and their students. The Division of Real Estate estimates that the cost of uploading course completion data should be minimal. A small savings to students is anticipated since they will save postage costs because they will no longer be required to mail course completion certificates to the Division.

 

Compliance costs for affected persons:

The only persons who would potentially incur compliance costs would be the providers of continuing education courses. However, the Division believes that the cost of uploading the course completion data will be minimal.

 

Comments by the department head on the fiscal impact the rule may have on businesses:

This rule filing changes a continuing education provider's reporting duties from paper only to add electronic filing of course completion information. Other than the cost analysis reported in the rule summary, no fiscal impact to businesses is anticipated as a result of these amendments. Francine A. Giani, Executive Director

 

The full text of this rule may be inspected, during regular business hours, at the Division of Administrative Rules, or at:

Commerce
Real Estate
HEBER M WELLS BLDG
160 E 300 S
SALT LAKE CITY UT 84111-2316

 

Direct questions regarding this rule to:

Shelley Wismer at the above address, by phone at 801-530-6761, by FAX at 801-530-6749, or by Internet E-mail at [e-mail]

 

Interested persons may present their views on this rule by submitting written comments to the address above no later than 5:00 p.m. on:

10/16/2006

 

This rule may become effective on:

10/24/2006

 

Authorized by:

Derek Miller, Director

 

 

RULE TEXT

R162. Commerce, Real Estate.

R162-208. Continuing Education.

R162-208-7. Course Completion Certificate and Continuing Education Banking.

208.7.1 The course provider shall issue a course completion certificate in the form required by the Division to all licensees who successfully complete a course in a topic that is approved for continuing education purposes. The course completion certificate shall indicate the number of credit hours successfully completed by the student and must be signed by the student and the instructor who taught the course. The course completion certificate must include the course title, date of the course, course certificate number, and course certificate expiration date.

208.7.2 For the purposes of this rule, "continuing education banking" is defined as the upload by a course provider of such information as specified by the Division to the Division's data base concerning the students who have successfully completed a continuing education course, including the name of the course, the certificate number assigned to the course by the Division, the date the course was taught, and the names and license numbers of all students who successfully completed the course.

208.7.3 In addition to complying with the requirements of Subsection 208.7.1 and except as provided in Subsection 208.7.4, all course providers shall bank continuing education for all students who successfully completed a course within ten days after the course was taught.

208.7.4 A student must provide an accurate license number and the full name the student has registered with the Division to the course provider within 7 days after course attendance.

208.7.5 If a course provider is unable to bank a student's continuing education credit because the student has failed to properly and accurately comply with the requirements of Subsection 208.7.4, the course provider shall not be disciplined by the Division for failure to bank the student's continuing education credit.

 

KEY: residential mortgage loan origination

Date of Enactment or Last Substantive Amendment: [August 3, 2005]2006

Authorizing, Implemented, or Interpreted Law: 61-2c-103(3); 61-2c-104(7)(d)(ii)