AZ LAW BOOK

9. If the owner is a corporation or limited liability company, a copy of: a. A corporate or company resolution or operating agreement naming the officer, member, or manager authorized to execute the Certificate of Approval form; b. A current Certificate of Good Standing from the Arizona Corporation Commission; c. The latest annual report on file with the Arizona Corporation Commission; d. The Articles of Incorporation or Organization, as amended. 10. The location of school registration and licensing certification records. B. Certificate of Course Approval. Any school offering a course of study for original or renewal licensure of a real estate applicant shall apply for and possess a Certificate of Course Approval for each course offered by the school. The school's authorized representative shall submit the following information: 1. The school name, address, telephone number, and fax number, if any; 2. The authorized representative's name, title, and signature; 3. The title of the course; 4. A detailed outline of course material content that clearly lists the subject matter to be covered; 5. The date, time, and location of the anticipated presentation, if known; 6. The number of credit hours requested. The time allocated by a school for examination shall not be included in calculating credit hours if the examination is used for overall evaluation. 7. The category of approval requested; 8. A definition of segments if the course is to be offered in part and in its entirety; 9. If video or audio tapes will be used as instructional aids, the percentage of the class they will comprise; 10. The name of every instructor who will teach the course; and 11. The date of the application. C. Instructor approval. Any person wishing to teach an approved real estate course shall apply for an instructors approval, and shall have at least one of the following in the proposed subject area: 1. A bachelor's or master's degree in an area traditionally associated with real estate, such as business, law, economics, marketing, and finance; 2. An award of a generally-recognized professional real estate designation, such as Certified Commercial Investment Member, Graduate Realtor Institute, Certified Residential Specialist, Independent Fee Appraiser, or Member of the Appraisal Institute, and two years of postsecondary education from an accredited institution; 3. Experience in real estate, and a bachelor's degree in education with a valid certificate issued within 15 years of the date of application for instructor approval; 4. A real estate salesperson's or broker's license, and is an employee or former employee of a regulatory agency; 5. A Distinguished Real Estate Instructor designation, with credentials in the specific subject; 6. At least three years real estate or specific subject experience; or 7. Other education or experience determined by the Commissioner to qualify the applicant as an instructor. D. The school shall maintain a record for five years of each student attending the school. The record shall include: 4. The course number, category, and credit hours awarded; 5. The final grade or score in each prelicensure course; and 6. The original signature roster for each course or course segment taught. E. The prospective student shall sign an agreement or application to enroll, presented to the student by the school representative, that includes the following, in bold type and capital letters: 1. The course or course segment title within a curriculum, 2. The total credit hours applicable for licensure or renewal, 3. The cost of each course, 4. A statement of the refund policy, and 5. A statement of any job placement service. F. The Department does not consider lists of employers given to graduates to be a placement service. The school may advertise job placement services only if: 1. The name of each student; 2. The dates of attendance; 3. The title of each course taken;

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Law Book Revised 11.02.2017