Section 876IAC7-2-11. School directors

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(a) Each sponsor, upon application for sponsor approval, shall designate one (1) individual as its school director.

(b) A sponsor is prohibited from hiring or retaining in its employ, a school director who:

(1) has had real estate license revoked or suspended by any jurisdiction;

(2) has been convicted of a crime that has a direct bearing on the individual's ability to competently be a school director, including, but not necessarily limited to, violations of real estate laws and abuse of fiduciary responsibilities; or

(3) unless authorized by law, refused to appear or testify under oath at any hearing held by the commission.

(Indiana Real Estate Commission; 876 IAC 7-2-11; filed May 22, 2014, 11:50 a.m.: 20140618-IR-876140061FRA, eff Jul 1, 2014)

                    
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