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My company actually does this. We have currently built up a $50 Million+ portfolio helping investors from all over the world buy rental property that we then manage for them. From that experience I can tell you that yes absolutely. This is an act that requires a Real Estate License in all 50 States.We are based in Ohio & the Law describes Brokerage activity as follows. All other states are pretty similar.LAW Writer® Ohio Laws and RulesSearch ORC:Ohio Administrative Code Home HelpRoute:Ohio Revised Code» Title [47] XLVII OCCUPATIONS - PROFESSIONSChapter 4735: REAL ESTATE BROKERS4735.01 Real estate broker definitions.As used in this chapter:(A) "Real estate broker" includes any person, partnership, association, limited liability company, limited liability partnership, or corporation, foreign or domestic, who for another, whether pursuant to a power of attorney or otherwise, and who for a fee, commission, or other valuable consideration, or with the intention, or in the expectation, or upon the promise of receiving or collecting a fee, commission, or other valuable consideration does any of the following:(1) Sells, exchanges, purchases, rents, or leases, or negotiates the sale, exchange, purchase, rental, or leasing of any real estate;(2) Offers, attempts, or agrees to negotiate the sale, exchange, purchase, rental, or leasing of any real estate;(3) Lists, or offers, attempts, or agrees to list, or auctions, or offers, attempts, or agrees to auction, any real estate;(4) Buys or offers to buy, sells or offers to sell, or otherwise deals in options on real estate;(5) Operates, manages, or rents, or offers or attempts to operate, manage, or rent, other than as custodian, caretaker, or janitor, any building or portions of buildings to the public as tenants;(6) Advertises or holds self out as engaged in the business of selling, exchanging, purchasing, renting, or leasing real estate;(7) Directs or assists in the procuring of prospects or the negotiation of any transaction, other than mortgage financing, which does or is calculated to result in the sale, exchange, leasing, or renting of any real estate;(8) Is engaged in the business of charging an advance fee or contracting for collection of a fee in connection with any contract whereby the broker undertakes primarily to promote the sale, exchange, purchase, rental, or leasing of real estate through its listing in a publication issued primarily for such purpose, or for referral of information concerning such real estate to brokers, or both, except that this division does not apply to a publisher of listings or compilations of sales of real estate by their owners;(9) Collects rental information for purposes of referring prospective tenants to rental units or locations of such units and charges the prospective tenants a fee.(B) "Real estate" includes leaseholds as well as any and every interest or estate in land situated in this state, whether corporeal or incorporeal, whether freehold or nonfreehold, and the improvements on the land, but does not include cemetery interment rights.(C) "Real estate salesperson" means any person associated with a licensed real estate broker to do or to deal in any acts or transactions set out or comprehended by the definition of a real estate broker, for compensation or otherwise.(D) "Institution of higher education" includes all of the following:(1) A state institution of higher education, as defined in section 3345.011 of the Revised Code;(2) A nonprofit institution issued a certificate of authorization under Chapter 1713. of the Revised Code ;(3) A private institution exempt from regulation under Chapter 3332. of the Revised Code, as prescribed in section 3333.046 of the Revised Code.(4) An institution with a certificate of registration from the state board of career colleges and schools under Chapter 3332. of the Revised Code that is approved to offer degree programs in accordance with section 3332.05 of the Revised Code.(E) "Foreign real estate" means real estate not situated in this state and any interest in real estate not situated in this state.(F) "Foreign real estate dealer" includes any person, partnership, association, limited liability company, limited liability partnership, or corporation, foreign or domestic, who for another, whether pursuant to a power of attorney or otherwise, and who for a fee, commission, or other valuable consideration, or with the intention, or in the expectation, or upon the promise of receiving or collecting a fee, commission, or other valuable consideration, does or deals in any act or transaction specified or comprehended in division (A) of this section with respect to foreign real estate.(G) "Foreign real estate salesperson" means any person associated with a licensed foreign real estate dealer to do or deal in any act or transaction specified or comprehended in division (A) of this section with respect to foreign real estate, for compensation or otherwise.(H) Any person, partnership, association, limited liability company, limited liability partnership, or corporation, who, for another, in consideration of compensation, by fee, commission, salary, or otherwise, or with the intention, in the expectation, or upon the promise of receiving or collecting a fee, does, or offers, attempts, or agrees to engage in, any single act or transaction contained in the definition of a real estate broker, whether an act is an incidental part of a transaction, or the entire transaction, shall be constituted a real estate broker or real estate salesperson under this chapter.(I)(1) The terms "real estate broker," "real estate salesperson," "foreign real estate dealer," and "foreign real estate salesperson" do not include a person, partnership, association, limited liability company, limited liability partnership, or corporation, or the regular employees thereof, who perform any of the acts or transactions specified or comprehended in division (A) of this section, whether or not for, or with the intention, in expectation, or upon the promise of receiving or collecting a fee, commission, or other valuable consideration:(a) With reference to real estate situated in this state owned by such person, partnership, association, limited liability company, limited liability partnership, or corporation, or acquired on its own account in the regular course of, or as an incident to the management of the property and the investment in it;(b) As receiver or trustee in bankruptcy, as guardian, executor, administrator, trustee, assignee, commissioner, or any person doing the things mentioned in this section, under authority or appointment of, or incident to a proceeding in, any court, or as a bona fide public officer, or as executor, trustee, or other bona fide fiduciary under any trust agreement, deed of trust, will, or other instrument that has been executed in good faith creating a like bona fide fiduciary obligation;(c) As a public officer while performing the officer's official duties;(d) As an attorney at law in the performance of the attorney's duties;(e) As a person who engages in the brokering of the sale of business assets, not including the sale, lease, exchange, or assignment of any interest in real estate;(f) As a person who engages in the sale of manufactured homes as defined in division (C)(4) of section 3781.06 of the Revised Code, or of mobile homes as defined in division (O) of section 4501.01 of the Revised Code, provided the sale does not include the negotiation, sale, lease, exchange, or assignment of any interest in real estate;(g) As a person who engages in the sale of commercial real estate pursuant to the requirements of section 4735.022 of the Revised Code.(2) A person, partnership, association, limited liability company, limited liability partnership, or corporation exempt under division (I)(1)(a) of this section shall be limited by the legal interest in the real estate held by that person or entity to performing any of the acts or transactions specified in or comprehended by division (A) of this section.(J) "Disabled licensee" means a person licensed pursuant to this chapter who is under a severe disability which is of such a nature as to prevent the person from being able to attend any instruction lasting at least three hours in duration.(K) "Division of real estate" may be used interchangeably with, and for all purposes has the same meaning as, "division of real estate and professional licensing.(L) "Superintendent" or "superintendent of real estate" means the superintendent of the division of real estate and professional licensing of this state. Whenever the division or superintendent of real estate is referred to or designated in any statute, rule, contract, or other document, the reference or designation shall be deemed to refer to the division or superintendent of real estate and professional licensing, as the case may be.(M) "Inactive license" means the license status in which a salesperson's license is in the possession of the division, renewed as required under this chapter or rules adopted under this chapter, and not associated with a real estate broker.(N) "Broker's license on deposit" means the license status in which a broker's license is in the possession of the division of real estate and professional licensing and renewed as required under this chapter or rules adopted under this chapter.(O) "Suspended license" means the license status that prohibits a licensee from providing services that require a license under this chapter for a specified interval of time.(P) "Reactivate" means the process prescribed by the superintendent of real estate and professional licensing to remove a license from an inactive, suspended, or broker's license on deposit status to allow a licensee to provide services that require a license under this chapter.(Q) "Revoked" means the license status in which the license is void and not eligible for reactivation.(R) "Commercial real estate" means any parcel of real estate in this state other than real estate containing one to four residential units. "Commercial real estate" does not include single-family residential units such as condominiums, townhouses, manufactured homes, or homes in a subdivision when sold, leased, or otherwise conveyed on a unit-by-unit basis, even when those units are a part of a larger building or parcel of real estate containing more than four residential units.(S) "Out-of-state commercial broker" includes any person, partnership, association, limited liability company, limited liability partnership, or corporation that is licensed to do business as a real estate broker in a jurisdiction other than Ohio.(T) "Out-of-state commercial salesperson" includes any person affiliated with an out-of-state commercial broker who is not licensed as a real estate salesperson in Ohio.(U) "Exclusive right to sell or lease listing agreement" means an agency agreement between a seller and broker that meets the requirements of section 4735.55 of the Revised Code and does both of the following:(1) Grants the broker the exclusive right to represent the seller in the sale or lease of the seller's property;(2) Provides the broker will be compensated if the broker, the seller, or any other person or entity produces a purchaser or tenant in accordance with the terms specified in the listing agreement or if the property is sold or leased during the term of the listing agreement to anyone other than to specifically exempted persons or entities.(V) "Exclusive agency agreement" means an agency agreement between a seller and broker that meets the requirements of section4735.55 of the Revised Code and does both of the following:(1) Grants the broker the exclusive right to represent the seller in the sale or lease of the seller's property;(2) Provides the broker will be compensated if the broker or any other person or entity produces a purchaser or tenant in accordance with the terms specified in the listing agreement or if the property is sold or leased during the term of the listing agreement, unless the property is sold or leased solely through the efforts of the seller or to the specifically exempted persons or entities.(W) "Exclusive purchaser agency agreement" means an agency agreement between a purchaser and broker that meets the requirements of section 4735.55 of the Revised Code and does both of the following:(1) Grants the broker the exclusive right to represent the purchaser in the purchase or lease of property;(2) Provides the broker will be compensated in accordance with the terms specified in the exclusive agency agreement or if a property is purchased or leased by the purchaser during the term of the agency agreement unless the property is specifically exempted in the agency agreement.The agreement may authorize the broker to receive compensation from the seller or the seller's agent and may provide that the purchaser is not obligated to compensate the broker if the property is purchased or leased solely through the efforts of the purchaser.(X) "Seller" means a party in a real estate transaction who is the potential transferor of property. "Seller" includes an owner of property who is seeking to sell the property and a landlord who is seeking to rent or lease property to another person.(Y) "Resigned" means the license status in which a license has been voluntarily and permanently surrendered to or is otherwise in the possession of the division of real estate and professional licensing, may not be renewed or reactivated in accordance with the requirements specified in this chapter or the rules adopted pursuant to it, and is not associated with a real estate broker.(Z) "Bona fide" means made in good faith or without purpose of circumventing license law.(AA) "Associate broker" means an individual licensed as a real estate broker under this chapter who does not function as the principal broker or a management level licensee.(BB) "Brokerage" means a corporation, partnership, limited partnership, association, limited liability company, limited liability partnership, or sole proprietorship, foreign or domestic,that has been issued a broker's license. "Brokerage" includes the affiliated licensees who have been assigned management duties that include supervision of licensees whose duties may conflict with those of other affiliated licensees.(CC) "Credit-eligible course" means a credit or noncredit-bearing course that is both of the following:(1) The course is offered by an institution of higher education.(2) The course is eligible for academic credit that may be applied toward the requirements for a degree at the institution of higher education.(DD) "Distance education" means courses required by divisions (B)(6) and (G) of section 4735.07, divisions (F)(6) and (J) of section4735.09, and division (A) of section 4735.141 of the Revised Code in which instruction is accomplished through use of interactive, electronic media and where the teacher and student are separated by distance or time, or both.(EE) "Licensee" means any individual licensed as a real estate broker or salesperson by the Ohio real estate commission pursuant to this chapter.(FF) "Management level licensee" means a licensee who is employed by or affiliated with a real estate broker and who has supervisory responsibility over other licensees employed by or affiliated with that real estate broker.(GG) "Principal broker" means an individual licensed as a real estate broker under this chapter who oversees and directs the operations of the brokerage.Cite as R.C. § 4735.01Amended by 131st General Assembly File No. TBD, HB 532, §1, eff. 4/6/2017.Amended by 129th General AssemblyFile No.127, HB 487, §101.01, eff. 9/9/2012.Amended by 129th General AssemblyFile No.28, HB 153, §101.01, eff. 9/29/2011.Effective Date: 04-05-2002; 10-12-2006; 2008 HB562 09-22-2008 .4735.02 Requirement of license.(A) Except as provided in section 4735.022 of the Revised Code, no person, partnership, association, limited liability company, limited liability partnership, or corporation shall act as a real estate broker or real estate salesperson, or advertise or assume to act as such, without first being licensed as provided in this chapter. No person, partnership, association, limited liability company, limited liability partnership, or corporation shall provide services that require a license under this chapter if the licensee's license is inactive, suspended, resigned, or a broker's license on deposit, or if the license has been revoked. Nothing contained in this chapter shall be construed as authorizing a real estate broker or salesperson to perform any service constituting the practice of law.(B) No partnership, association, limited liability company, limited liability partnership, or corporation holding a real estate license shall employ as an officer, director, manager, or principal employee any person previously holding a license as a real estate broker, real estate salesperson, foreign real estate dealer, or foreign real estate salesperson, whose license has been placed in inactive or resigned status, or is suspended, or revoked and who has not thereafter reactivated the license or received a new license.Cite as R.C. § 4735.02Amended by 129th General AssemblyFile No.127, HB 487, §101.01, eff. 9/9/2012.Amended by 129th General AssemblyFile No.28, HB 153, §101.01, eff. 9/29/2011.Effective Date: 04-05-2002; 2008 HB562 09-22-20084735.021 Contracts - fees.(A) Every licensee who is engaged in the business of referring prospective tenants to possible rental units or locations and who charges the prospective tenants a fee shall enter into a written contract with any prospective tenant and shall give him a copy of the contract. The licensee shall disclose in the contract the manner in which the listings of units have been obtained. All contracts entered into pursuant to this section shall stipulate that any fee charged in excess of ten dollars shall be repaid or refunded to the prospective tenant, upon demand, but no sooner than thirty days after the contract has been entered into and no later than sixty days after the contract has been entered into, if he does not obtain a rental conforming to his specifications through the listing furnished by the licensee. If the information concerning rentals furnished by the licensee is not current or accurate, the full fee shall be repaid or refunded to the prospective tenant upon demand.(B) No licensee shall refer a prospective tenant to any property without the consent of the owner or to any nonexistent address.Effective Date: 04-08-1977 .4735.022 Nonresident commercial brokers and salespersons.(A) An out-of-state commercial broker, for a fee, commission, or other valuable consideration, or in the expectation, or upon the promise of receiving or collecting a fee, commission, or other valuable consideration, may perform those acts that require a license under this chapter, with respect to commercial real estate, provided that the out-of-state commercial broker does all of the following:(1) Works in cooperation with an Ohio real estate broker who holds a valid, active license issued under this chapter;(2) Enters into a written agreement with the Ohio broker described in division (A)(1) of this section that includes the terms of cooperation and compensation and a statement that the out-of-state commercial broker and its agents will agree to adhere to the laws of Ohio;(3) Furnishes the Ohio broker described in division (A)(1) of this section with a copy of the out-of-state commercial broker's current certificate of good standing from any jurisdiction where the out-of-state commercial broker maintains an active real estate license;(4) Files an irrevocable written consent with the Ohio broker described in division (A)(1) of this section that legal actions arising out of the conduct of the out-of-state commercial broker or its agents may be commenced against the out-of-state commercial broker in the court of proper jurisdiction of any county in Ohio where the cause of action arises or where the plaintiff resides;(5) Includes the name of the Ohio broker described in division (A)(1) of this section on all advertising in accordance with section4735.16 of the Revised Code;(6) Deposits all escrow funds, security deposits, and other money received by either the out-of-state commercial broker or Ohio broker described in division (A)(1) of this section in trust or special accounts maintained by the Ohio broker;(7) Deposits all documentation required by this section and records and documents related to the transaction with the Ohio broker described in division (A)(1) of this section. The Ohio broker described in division (A)(1) of this section shall retain the documentation that is provided by the out-of-state commercial broker as required under division (A)(7) of this section, and the records and documents related to a transaction, for a period of three years after the date the documentation is provided, or the transaction occurred, as appropriate.(B) An out-of-state commercial salesperson may perform those acts that require a real estate salesperson license under this chapter with respect to commercial real estate, provided that the out-of-state commercial salesperson meets all of the following requirements:(1) Is licensed with and works under the direct supervision of the out-of-state commercial broker;(2) The out-of-state commercial broker with whom the salesperson is associated meets all of the requirements of division (A) of this section;(3) Provides the Ohio broker who is working in cooperation with the out-of-state broker with whom the salesperson is associated, with a copy of the commercial salesperson's current certificate of good standing from the jurisdiction where the out-of-state commercial salesperson maintains an active real estate license in connection with the out-of-state commercial broker;(4) Collects money, including commissions, deposits, payments, rentals, or otherwise, only in the name of and with the consent of the out-of-state commercial broker under whom the out-of-state commercial salesperson is licensed.(C) By filing a consent-to-jurisdiction document as described under division (A)(4) of this section, the person giving the consent makes and constitutes the secretary of state as an agent for service of process in this state including service of summonses and subpoenas. Service of process upon any person may be initiated by leaving with the secretary of state or an assistant secretary of state four copies of the process, an affidavit stating the address of the person given on the consent-to-jurisdiction document, and a fee of five dollars. Upon receipt of the process, affidavit, and fee, the secretary of state immediately shall give notice of the process to the person, at the address given in the affidavit and forward to that address by certified mail, return receipt requested, a copy of the process. Service is considered to be complete upon the mailing of the notice and copy of process in accordance with this division.(D) A person, partnership, association, limited liability company, limited liability partnership, or corporation licensed in a jurisdiction where there is no legal distinction between a real estate broker license and a real estate salesperson license must meet the requirements of division (A) of this section before engaging in any activity described in this section that requires a real estate broker license in this state.Cite as R.C. § 4735.022Effective Date: 04-05-2002 .4735.03 Ohio real estate commission - powers and duties.There is hereby created the Ohio real estate commission, consisting of five members who shall be appointed by the governor, with the advice and consent of the senate. Four members shall have been engaged in the real estate business as licensed real estate brokers in the state for a period of ten years immediately preceding the appointment. One member shall represent the public. Terms of office shall be for five years, commencing on the first day of July and ending on the thirtieth day of June. Each member shall hold office from the date of appointment until the end of the term for which appointed. No more than three members shall be members of any one political party and no member of the commission concurrently may be a member of the commission and the real estate appraiser board created pursuant to section 4763.02 of the Revised Code. Each member, before entering upon the duties of office, shall subscribe to and file with the secretary of state the constitutional oath of office. All vacancies which occur shall be filled in the manner prescribed for the regular appointments to the commission. Any member appointed to fill a vacancy occurring prior to the expiration of the term for which the member's predecessor was appointed shall hold office for the remainder of such term. Any member shall continue in office subsequent to the expiration date of the member's term until the member's successor takes office, or until a period of sixty days has elapsed, whichever occurs first. No member shall hold office for more than two consecutive full terms. Annually, upon the qualification of the member appointed in such year, the commission shall organize by selecting from its members a president and vice-president, and shall do all things necessary and proper to carry out and enforce this chapter. A majority of the members of the commission shall constitute a quorum, but a lesser number may adjourn from time to time. Each member of the commission shall receive an amount fixed pursuant to section 124.14 of the Revised Code for each day employed in the discharge of official duties, and the member's actual and necessary expenses incurred in the discharge of those duties.The commission or the superintendent of real estate may investigate complaints concerning the violation of section 4735.02 or4735.25 of the Revised Code and may subpoena witnesses in connection with such investigations as provided in section 4735.04 of the Revised Code. The commission or the superintendent may make application to the appropriate court for an order enjoining the violation of section 4735.02 or 4735.25 of the Revised Code, and upon a showing by the commission or the superintendent that any person, firm, partnership, association, limited liability company, limited liability partnership, or corporation has violated or is about to violate section 4735.02 or 4735.25 of the Revised Code, an injunction, restraining order, or such other order as may be appropriate shall be granted by such court.The commission shall:(A) Adopt canons of ethics for the real estate industry;(B) Upon appeal by any party affected, or may upon its own motion, review any order or application determination of the superintendent, and may reverse, vacate, or modify any order of the superintendent;(C) Administer the real estate education and research fund and hear appeals from orders of the superintendent regarding claims against that fund or against the real estate recovery fund;(D) Direct the superintendent on the content, scheduling, instruction, and offerings of real estate courses for salesperson and broker educational requirements;(E) Disseminate to licensees and the public, information relative to commission activities and decisions;(F) Notify licensees of changes in state and federal civil rights laws pertaining to discrimination in the purchase or sale of real estate and relevant case law, and inform licensees that they are subject to disciplinary action if they do not comply with the changes;(G) Publish and furnish to public libraries and to brokers booklets on housing and remedies available to dissatisfied clients under this chapter and Chapter 4112. of the Revised Code;(H) Provide training to commission members and employees of the division of real estate and professional licensing on issues relative to the real estate industry, which may include but not be limited to investigative techniques, real estate law, and real estate practices and procedures.Cite as R.C. § 4735.03Amended by 129th General AssemblyFile No.28, HB 153, §101.01, eff. 9/29/2011.Effective Date: 09-22-2000; 11-05-20044735.04 Subpoena power.The Ohio real estate commission or the superintendent of real estate may compel, by order or subpoena, the attendance of witnesses to testify in relation to any matter over which the commission or superintendent has jurisdiction and which is the subject of inquiry and investigation by the commission or superintendent, and require the production of any book, paper, or document pertaining to such matter. For such purpose, the commission or superintendent shall have the same power as judges of county courts to administer oaths, compel the attendance of witnesses, and punish them for refusal to testify. Service of the subpoena may be made by sheriffs or constables, or by certified mail, return receipt requested, and the subpoena shall be deemed served on the date delivery is made or the date the person refused to accept delivery. Witnesses shall receive, after their appearance before the commission or superintendent, the fees and mileage provided for under section 119.094 of the Revised Code. If two or more witnesses travel together in the same vehicle, the mileage fee shall be paid to only one of those witnesses, but the witnesses may agree to divide the fee among themselves in any manner. In addition to the powers granted to the commission and superintendent under this section, in case any person fails to file any statement or report, obey any subpoena, give testimony, answer questions, or produce any books, records, or papers as required by the commission or superintendent under this chapter, the court of common pleas of any county in the state, upon application made to it by the commission or superintendent setting forth such failure, may make an order awarding process of subpoena or subpoena duces tecum for the person to appear and testify before the commission or superintendent, and may order any person to give testimony and answer questions, and to produce books, records, or papers, as required by the commission or superintendent. Upon the filing of such order in the office of the clerk of the court of common pleas, the clerk, under the seal of the court, shall issue process of subpoena for the person to appear before the commission or superintendent at a time and place named in the subpoena, and each day thereafter until the examination of such person is completed. The subpoena may contain a direction that the witness bring with the witness to the examination any books, records, or papers mentioned in the subpoena. The clerk shall also issue, under the seal of the court, such other orders, in reference to the examination, appearance, and production of books, records, or papers, as the court directs. If any person so summoned by subpoena fails to obey the subpoena, to give testimony, to answer questions as required, or to obey an order of the court, the court, on motion supported by proof, may order an attachment for contempt to be issued against the person charged with disobedience of any order or injunction issued by the court under this chapter. If the person is brought before the court by virtue of the attachment, and if upon a hearing the disobedience appears, the court may order the offender to be committed and kept in close custody.Cite as R.C. § 4735.04Effective Date: 09-11-1985; 11-05-2004; 2008 HB525 07-01-2009 .4735.05 Organization of commission - confidentiality.(A) The Ohio real estate commission is a part of the department of commerce for administrative purposes. The director of commerce is ex officio the executive officer of the commission, or the director may designate any employee of the department as superintendent of real estate and professional licensing to act as executive officer of the commission.The commission and the real estate appraiser board created pursuant to section 4763.02 of the Revised Code shall each submit to the director a list of three persons whom the commission and the board consider qualified to be superintendent within sixty days after the office of superintendent becomes vacant. The director shall appoint a superintendent from the lists submitted by the commission and the board, and the superintendent shall serve at the pleasure of the director.(B) The superintendent, except as otherwise provided, shall do all of the following in regard to this chapter:(1) Administer this chapter;(2) Issue all orders necessary to implement this chapter;(3) Investigate complaints concerning the violation of this chapter or the conduct of any licensee;(4) Establish and maintain an investigation and audit section to investigate complaints and conduct inspections, audits, and other inquiries as in the judgment of the superintendent are appropriate to enforce this chapter. The investigators or auditors have the right to review and audit the business records of licensees and continuing education course providers during normal business hours.(5) Appoint a hearing examiner for any proceeding involving disciplinary action under section 3123.47, 4735.052, or 4735.18 of the Revised Code;(6) Administer the real estate recovery fund.(C) The superintendent may do all of the following:(1) In connection with investigations and audits under division (B) of this section, subpoena witnesses as provided in section 4735.04of the Revised Code;(2) Apply to the appropriate court to enjoin any violation of this chapter. Upon a showing by the superintendent that any person has violated or is about to violate any provision of this chapter, the court shall grant an injunction, restraining order, or other appropriate order.(3) Upon the death of a licensed broker or the revocation or suspension of the broker's license, if there is no other licensed broker within the business entity of the broker, appoint upon application by any interested party, or, in the case of a deceased broker, subject to the approval by the appropriate probate court, recommend the appointment of, an ancillary trustee who is qualified as determined by the superintendent to conclude the business transactions of the deceased, revoked, or suspended broker;(4) In conjunction with the enforcement of this chapter, when the superintendent of real estate has reasonable cause to believe that an applicant or licensee has committed a criminal offense, the superintendent of real estate may request the superintendent of the bureau of criminal identification and investigation to conduct a criminal records check of the applicant or licensee. The superintendent of the bureau of criminal identification and investigation shall obtain information from the federal bureau of investigation as part of the criminal records check of the applicant or licensee. The superintendent of real estate may assess the applicant or licensee a fee equal to the fee assessed for the criminal records check.(5) In conjunction with the enforcement of this chapter, issue advisory letters in lieu of initiating disciplinary action under section4735.051 or 4735.052 of the Revised Code or issuing a citation under section 4735.16 or 4735.181 of the Revised Code.(D) All information that is obtained by investigators and auditors performing investigations or conducting inspections, audits, and other inquiries pursuant to division (B)(4) of this section, from licensees, complainants, or other persons, and all reports, documents, and other work products that arise from that information and that are prepared by the investigators, auditors, or other personnel of the department, shall be held in confidence by the superintendent, the investigators and auditors, and other personnel of the department. Notwithstanding division (D) of section 2317.023 of the Revised Code, all information obtained by investigators or auditors from an informal mediation meeting held pursuant to section 4735.051 of the Revised Code, including but not limited to the agreement to mediate and the accommodation agreement, shall be held in confidence by the superintendent, investigators, auditors, and other personnel of the department.(E) This section does not prevent the division of real estate and professional licensing from releasing information relating to licensees to the superintendent of financial institutions for purposes relating to the administration of sections 1322.01 to 1322.12 of the Revised Code, to the superintendent of insurance for purposes relating to the administration of Chapter 3953. of the Revised Code, to the attorney general, or to local law enforcement agencies and local prosecutors. Information released by the division pursuant to this section remains confidential.Cite as R.C. § 4735.05Amended by 129th General AssemblyFile No.28, HB 153, §101.01, eff. 9/29/2011.Effective Date: 03-22-2001; 11-05-2004; 01-01-20074735.051 Investigating complaints.(A) Within five business days after a person files a signed written complaint against a licensed real estate broker or licensed real estate salesperson with the division of real estate, the superintendent of real estate shall acknowledge receipt of the complaint and send a notice to the licensee describing the acts complained of. The acknowledgment to the complainant and the notice to the licensee shall state that an informal mediation meeting will be held with the complainant, the licensee, and an investigator from the investigation and audit section of the division if the complainant and licensee both file a request for such a meeting within ten business days thereafter on a form provided by the superintendent.(B) If the complainant and licensee both file with the division requests for an informal mediation meeting, the superintendent shall notify the complainant and licensee of the date of the meeting, which shall be within twenty business days thereafter, except that any party may request an extension of up to fifteen business days for good cause shown. If the complainant and licensee reach an accommodation at an informal mediation meeting, the investigator shall so report to the superintendent, the complainant, and licensee and the complaint file shall be closed.(C) If the complainant and licensee fail to agree to an informal mediation meeting or fail to reach an accommodation the superintendent shall, within five business days of such determination, so notify the complainant and licensee and shall investigate the conduct of the licensee against whom the complaint is filed.(D) Within sixty business days after receipt of the complaint, or, if an informal meeting is held, within sixty days of such meeting, the investigator shall file a written report of the results of the investigator's investigation with the superintendent. Within fourteen business days thereafter, the superintendent shall review the report and determine whether there exists reasonable and substantial evidence of a violation of section 4735.18 of the Revised Code by the licensee. If the superintendent finds such evidence exists, within seven business days of the determination, the superintendent shall notify the complainant and licensee of the date of a hearing to be held by a hearing examiner pursuant to Chapter 119. of the Revised Code within fifteen days but not prior to seven days thereafter, except that either the superintendent or the licensee may request an extension of up to thirty business days for good cause shown. If the superintendent finds that such evidence does not exist, within five business days thereafter, the superintendent shall so notify the complainant and licensee of the superintendent's determination and the basis for the determination. Within fifteen business days after the superintendent notifies the complainant and licensee that such evidence does not exist, the complainant may file with the division a request that the commissioners review the determination. If the complainant files such request, the commissioners shall review the determination at the next regularly scheduled meeting held at least fifteen business days after the request is filed. The commission shall hear the testimony of either the complainant or the licensee at the meeting upon the request of the complainant or licensee. If the commissioners affirm the determination of the superintendent, the superintendent shall so notify the complainant and the licensee within five business days thereafter. If the commissioners reverse the determination of the superintendent, a hearing shall be held and the complainant and licensee notified as provided in this division. After the date of a hearing to be held by a hearing examiner has been scheduled pursuant to division (D) of this section, but before the issuance of the report of findings of fact and conclusions of law pursuant to division (E) of this section, the superintendent upon receipt of additional evidence, may withdraw the notice of hearing. Withdrawal by the superintendent does not constitute evidence that the original notice of hearing was not substantially justified. Upon withdrawal of the notice of hearing, the superintendent shall notify the complainant and licensee of the superintendent's determination and basis for the determination. Within fifteen business days after the superintendent notifies the complainant and licensee, the complainant may file with the superintendent a request that the Ohio real estate commission review the determination. The commission shall review the request as provided in division (D) of this section.(E) Within twenty-five business days after the conclusion of formal hearings, the hearing examiner shall file a report of findings of fact and conclusions of law with the superintendent, the commission, and the complainant and licensee.(F) The commissioners shall review the hearing examiner's report at the next regularly scheduled commission meeting held at least fifteen business days after receipt of the hearing examiner's report. The commission shall hear the testimony of the complainant or the licensee upon request. If the complainant is the Ohio civil rights commission, the complaint shall be reviewed by the commissioners directly upon request.(G) The commission shall decide whether to impose disciplinary sanctions upon a licensee for a violation of section 4735.18 of the Revised Code. The commission shall decide within sixty days of the filing of the hearing examiner's report or within sixty days of the filing of an Ohio civil rights commission complaint. The commission shall maintain a transcript of the proceedings and issue a written opinion to the complainant and licensee, citing its findings and grounds for any action taken. The commission shall notify the complainant and any other person who may have suffered financial loss because of the licensee's violations, that the complainant or other person may sue for recovery under section 4735.12 of the Revised Code.(H) An investigation under this section is subject to section 4735.32 of the Revised Code.(I) The commission may impose the following sanctions upon a licensee for a violation of section 4735.18 of the Revised Code:(1) Revoke a license issued under Chapter 4735. of the Revised Code;(2) Suspend a license for a term set by the commission;(3) Impose a fine, not exceeding two thousand five hundred dollars per violation;(4) Issue a public reprimand;(5) Require the completion of additional continuing education course work. Any continuing education course work imposed pursuant to this section shall not count toward the continuing education requirements set forth in section 4735.14 of the Revised Code. All fines imposed pursuant to division (I)(3) of this section shall be credited to the real estate recovery fund, which is created in the state treasury under section 4735.12 of the Revised Code.(J) All notices, written reports, and determinations issued pursuant to this section shall be mailed via certified mail, return receipt requested. If the certified notice is returned because of failure of delivery, or was refused or unclaimed, the notice, written reports, or determinations are deemed served if the superintendent sends the notice, written report, or determination via regular mail and obtains a certificate of mailing of the notice, written reports, or determination.Cite as R.C. § 4735.051Effective Date: 09-22-2000; 11-05-2004 .4735.052 Civil penalty.(A) Upon receipt of a written complaint or upon the superintendent's own motion, the superintendent may investigate any person that has allegedly violated section 4735.02 or 4735.25 of the Revised Code, except that the superintendent shall not initiate an investigation, pursuant to this section, of any person who held a suspended or inactive license under this chapter on the date of the alleged violation.(B) If, after investigation, the superintendent determines there exists reasonable evidence of a violation of section 4735.02 or4735.25 of the Revised Code, within fourteen business days after that determination, the superintendent shall send the party who is the subject of the investigation, a written notice, by regular mail, that includes all of the following information:(1) A description of the activity in which the party allegedly is engaging or has engaged that is a violation of section 4735.02 or4735.25 of the Revised Code;(2) The applicable law allegedly violated;(3) A statement informing the party that a hearing concerning the alleged violation will be held, upon the party's request, before a hearing examiner pursuant to Chapter 119. of the Revised Code.(C)(1) If a hearing is requested, the hearing examiner shall hear the testimony of all parties present at the hearing and consider any written testimony submitted pursuant to this section, and determine if there has been a violation of section 4735.02 or 4735.25 of the Revised Code.(2) After the conclusion of formal hearings, the hearing examiner shall file a report of findings of fact and conclusions of law with the superintendent, the commission, the complainant, and the parties. Within twenty days of receipt of such copy of the written report of findings of fact and conclusions of law, the parties and the division may file with the commission written objections to the report, which shall be considered by the commission before approving, modifying, or disapproving the report.(3) The commission shall review the hearing examiner's report at the next regularly scheduled commission meeting held at least twenty business days after receipt of the hearing examiner's report. The commission shall hear the testimony of the complainant or the parties upon request.(4) The commission shall decide whether to impose disciplinary sanctions upon a party for a violation of section 4735.02 of the Revised Code. If the commission finds that a violation has occurred, the commission may assess a civil penalty, in an amount it determines, not to exceed one thousand dollars per violation. Each day a violation occurs or continues is a separate violation. The commission shall determine the terms of payment. The commission shall maintain a record of the proceedings of the hearing and issue a written opinion to all parties, citing its findings and grounds for any action taken.(D) Civil penalties collected under this section shall be deposited in the real estate operating fund, which is created in the state treasury under section 4735.211 of the Revised Code.(E) If a party fails to pay a civil penalty assessed pursuant to this section within the time prescribed by the commission, the superintendent shall forward to the attorney general the name of the party and the amount of the civil penalty, for the purpose of collecting that civil penalty. In addition to the civil penalty assessed pursuant to this section, the party also shall pay any fee assessed by the attorney general for collection of the civil penalty.(F) The superintendent may reserve the right to bring a civil action against a party that fails to pay a civil penalty for breach of contract in a court of competent jurisdiction.Cite as R.C. § 4735.052Amended by 129th General AssemblyFile No.127, HB 487, §101.01, eff. 9/9/2012.Amended by 129th General AssemblyFile No.28, HB 153, §101.01, eff. 9/29/2011.Effective Date: 04-05-2002 .4735.06 Broker's license application.(A) Application for a license as a real estate broker shall be made to the superintendent of real estate on forms furnished by the superintendent and filed with the superintendent and shall be signed by the applicant or its members or officers. Each application shall state the name of the person applying and the location of the place of business for which the license is desired, and give such other information as the superintendent requires in the form of application prescribed by the superintendent.(B)(1) If the applicant is a partnership, limited liability company, limited liability partnership, or association, the names of all the members also shall be stated, and, if the applicant is a corporation, the names of its president and of each of its officers also shall be stated.The superintendent has the right to reject the application of any partnership, association, limited liability company, limited liability partnership, or corporation if the name proposed to be used by such partnership, association, limited liability company, limited liability partnership, or corporation is likely to mislead the public or if the name is not such as to distinguish it from the name of any existing partnership, association, limited liability company, limited liability partnership, or corporation licensed under this chapter, unless there is filed with the application the written consent of such existing partnership, association, limited liability company, limited liability partnership, or corporation, executed by a duly authorized representative of it, permitting the use of the name of such existing partnership, association, limited liability company, limited liability partnership, or corporation.(2) The superintendent shall approve the use of a trade name by a brokerage, if the name meets both of the following criteria:(a) The proposed name is not the same as or is clearly distinguishable from a name registered with the division of real estate and professional licensing by another existing brokerage. If the superintendent determines that the proposed name is not clearly distinguishable from any other existing brokerage, the superintendent may approve the use of the trade name if there is filed with the superintendent the written consent of the existing brokerage with the same or similar name.(b) The name is not misleading or likely to mislead the public.(3) The superintendent may approve the use of more than one trade name for a brokerage.(4) When a brokerage has received the approval of the superintendent to conduct business under one or more trade names, those trade names shall be the only identifying names used by the brokerage in all advertising.(C) A fee of one hundred dollars shall accompany the application for a real estate broker's license. The initial licensing period commences at the time the license is issued and ends on the applicant's first birthday thereafter. However, if the applicant was an inactive or active salesperson immediately preceding application for a broker's license, then the initial licensing period shall commence at the time the broker's license is issued and ends on the date the licensee's continuing education is due as set when the applicant was a salesperson. The application fee shall be nonrefundable. A fee of one hundred dollars shall be charged by the superintendent for each successive application made by an applicant. In the case of issuance of a three-year license, upon passing the examination, or upon waiver of the examination requirement, if the superintendent determines it is necessary, the applicant shall submit an additional fee determined by the superintendent based upon the number of years remaining in a real estate salesperson's licensing period.(D) One dollar of each application fee for a real estate broker's license shall be credited to the real estate education and research fund, which is hereby created in the state treasury. The Ohio real estate commission may use the fund in discharging the duties prescribed in divisions (E), (F), (G), and (H) of section 4735.03 of the Revised Code and shall use it in the advancement of education and research in real estate at any institution of higher education in the state, or in contracting with any such institution or a trade organization for a particular research or educational project in the field of real estate, or in advancing loans, not exceeding two thousand dollars, to applicants for salesperson licenses, to defray the costs of satisfying the educational requirements of division (F) of section 4735.09 of the Revised Code. Such loans shall be made according to rules established by the commission under the procedures of Chapter 119. of the Revised Code, and they shall be repaid to the fund within three years of the time they are made. No more than twenty-five thousand dollars shall be lent from the fund in any one fiscal year.The governor may appoint a representative from the executive branch to be a member ex officio of the commission for the purpose of advising on research requests or educational projects. The commission shall report to the general assembly on the third Tuesday after the third Monday in January of each year setting forth the total amount contained in the fund and the amount of each research grant that it has authorized and the amount of each research grant requested. A copy of all research reports shall be submitted to the state library of Ohio and the library of the legislative service commission.(E) If the superintendent, with the consent of the commission, enters into an agreement with a national testing service to administer the real estate broker's examination, pursuant to division (A) of section 4735.07 of the Revised Code, the superintendent may require an applicant to pay the testing service's examination fee directly to the testing service. If the superintendent requires the payment of the examination fee directly to the testing service, each applicant shall submit to the superintendent a processing fee in an amount determined by the Ohio real estate commission pursuant to division (A)(2) of section 4735.10 of the Revised Code.Cite as R.C. § 4735.06Amended by 131st General Assembly File No. TBD, HB 532, §1, eff. 4/6/2017.Amended by 131st General Assembly File No. TBD, HB 64, §101.01, eff. 9/29/2015.Amended by 129th General AssemblyFile No.28, HB 153, §101.01, eff. 9/29/2011.Amended by 128th General AssemblyFile No.9, HB 1, §101.01, eff. 10/16/2009.Effective Date: 04-05-2002; 11-05-20044735.07 Broker's examination - license qualifications.(A) The superintendent of real estate, with the consent of the Ohio real estate commission, may enter into agreements with recognized national testing services to administer the real estate broker's examination under the superintendent's supervision and control, consistent with the requirements of this chapter as to the contents of such examination.(B) No applicant for a real estate broker's license shall take the broker's examination who has not established to the satisfaction of the superintendent that the applicant:(1) Is honest, truthful, and of good reputation;(2)(a) Has not been convicted of a felony or crime of moral turpitude, or if the applicant has been so convicted, the superintendent has disregarded the conviction because the applicant has proven to the superintendent, by a preponderance of the evidence, that the applicant's activities and employment record since the conviction show that the applicant is honest, truthful, and of good reputation, and there is no basis in fact for believing that the applicant again will violate the laws involved;(b) Has not been finally adjudged by a court to have violated any municipal, state, or federal civil rights laws relevant to the protection of purchasers or sellers of real estate or, if the applicant has been so adjudged, at least two years have passed since the court decision and the superintendent has disregarded the adjudication because the applicant has proven, by a preponderance of the evidence, that the applicant's activities and employment record since the adjudication show that the applicant is honest, truthful, and of good reputation, and there is no basis in fact for believing that the applicant will again violate the laws involved.(3) Has not, during any period in which the applicant was licensed under this chapter, violated any provision of, or any rule adopted pursuant to, this chapter, or, if the applicant has violated any such provision or rule, has established to the satisfaction of the superintendent that the applicant will not again violate such provision or rule;(4) Is at least eighteen years of age;(5) Has been a licensed real estate broker or salesperson for at least two years; during at least two of the five years preceding the person's application, has worked as a licensed real estate broker or salesperson for an average of at least thirty hours per week; and has completed one of the following:(a) At least twenty real estate transactions, in which property was sold for another by the applicant while acting in the capacity of a real estate broker or salesperson;(b) Such equivalent experience as is defined by rules adopted by the commission.(6)(a) If licensed as a real estate salesperson prior to August 1, 2001, successfully has completed at an institution of higher education all of the following credit-eligible courses by either classroom instruction or distance education:(i) Thirty hours of instruction in real estate practice;(ii) Thirty hours of instruction that includes the subjects of Ohio real estate law, municipal, state, and federal civil rights law, new case law on housing discrimination, desegregation issues, and methods of eliminating the effects of prior discrimination. If feasible, the instruction in Ohio real estate law shall be taught by a member of the faculty of an accredited law school. If feasible, the instruction in municipal, state, and federal civil rights law, new case law on housing discrimination, desegregation issues, and methods of eliminating the effects of prior discrimination shall be taught by a staff member of the Ohio civil rights commission who is knowledgeable with respect to those subjects. The requirements of this division do not apply to an applicant who is admitted to practice before the supreme court.(iii) Thirty hours of instruction in real estate appraisal;(iv) Thirty hours of instruction in real estate finance;(v) Three quarter hours, or its equivalent in semester hours, in financial management;(vi) Three quarter hours, or its equivalent in semester hours, in human resource or personnel management;(vii) Three quarter hours, or its equivalent in semester hours, in applied business economics;(viii) Three quarter hours, or its equivalent in semester hours, in business law.(b) If licensed as a real estate salesperson on or after August 1, 2001, successfully has completed at an institution of higher education all of the following credit-eligible courses by either classroom instruction or distance education:(i) Forty hours of instruction in real estate practice;(ii) Forty hours of instruction that includes the subjects of Ohio real estate law, municipal, state, and federal civil rights law, new case law on housing discrimination, desegregation issues, and methods of eliminating the effects of prior discrimination. If feasible, the instruction in Ohio real estate law shall be taught by a member of the faculty of an accredited law school. If feasible, the instruction in municipal, state, and federal civil rights law, new case law on housing discrimination, desegregation issues, and methods of eliminating the effects of prior discrimination shall be taught by a staff member of the Ohio civil rights commission who is knowledgeable with respect to those subjects. The requirements of this division do not apply to an applicant who is admitted to practice before the supreme court.(iii) Twenty hours of instruction in real estate appraisal;(iv) Twenty hours of instruction in real estate finance;(v) The training in the amount of hours specified under divisions (B)(6)(a)(v), (vi), (vii), and (viii) of this section.(c) Division (B)(6)(a) or (b) of this section does not apply to any applicant who holds a valid real estate salesperson's license issued prior to January 2, 1972. Divisions (B)(6)(a)(v), (vi), (vii), and (viii) or division (B)(6)(b)(v) of this section do not apply to any applicant who holds a valid real estate salesperson's license issued prior to January 3, 1984.(d) Divisions (B)(6)(a)(iii) and (B)(6)(b)(iii) of this section do not apply to any new applicant who holds a valid Ohio real estate appraiser license or certificate issued prior to the date of application for a real estate broker's license.(e) Successful completion of the instruction required by division (B)(6)(a) or (b) of this section shall be determined by the law in effect on the date the instruction was completed.(7) If licensed as a real estate salesperson on or after January 3, 1984, satisfactorily has completed a minimum of two years of post-secondary education, or its equivalent in semester or quarter hours, at an institution of higher education, and has fulfilled the requirements of division (B) (6)(a) or (b) of this section. The requirements of division (B)(6)(a) or (b) of this section may be included in the two years of post-secondary education, or its equivalent in semester or quarter hours, that is required by this division. The post-secondary education requirement may be satisfied by completing the credit-eligible courses using either classroom instruction or distance education. Successful completion of any course required by this section shall be determined by the law in effect on the date the course was completed.(C) Each applicant for a broker's license shall be examined in the principles of real estate practice, Ohio real estate law, and financing and appraisal, and as to the duties of real estate brokers and real estate salespersons, the applicant's knowledge of real estate transactions and instruments relating to them, and the canons of business ethics pertaining to them. The commission from time to time shall promulgate such canons and cause them to be published in printed form.(D) Examinations shall be administered with reasonable accommodations in accordance with the requirements of the "Americans with Disabilities Act of 1990," 104 Stat. 327, 42 U.S.C. 12101. The contents of an examination shall be consistent with the requirements of division (B)(6) of this section and with the other specific requirements of this section. An applicant who has completed the requirements of division (B)(6) of this section at the time of application shall be examined no later than twelve months after the applicant is notified of admission to the examination.(E) The superintendent may waive one or more of the requirements of this section in the case of an application from a nonresident real estate broker pursuant to a reciprocity agreement with the licensing authority of the state from which the nonresident applicant holds a valid real estate broker license.(F) There shall be no limit placed on the number of times an applicant may retake the examination.(G)(1) Not earlier than the date of issue of a real estate broker's license to a licensee, but not later than twelve months after the date of issue of a real estate broker's license to a licensee, the licensee shall submit proof satisfactory to the superintendent, on forms made available by the superintendent, of the completion of ten hours of instruction that shall be completed in schools, seminars, and educational institutions that are approved by the commission. Approval of the curriculum and providers shall be granted according to rules adopted pursuant to section 4735.10 of the Revised Code and may be taken through classroom instruction or distance education.If the required proof of completion is not submitted to the superintendent within twelve months of the date a license is issued under this section, the license of the real estate broker is suspended automatically without the taking of any action by the superintendent. The broker's license shall not be reactivated by the superintendent until it is established, to the satisfaction of the superintendent, that the requirements of this division have been met and that the licensee is in compliance with this chapter. A licensee's license is revoked automatically without the taking of any action by the superintendent if the licensee fails to submit proof of completion of the education requirements specified under division (G)(1) of this section within twelve months of the date the license is suspended.(2) If the license of a real estate broker is suspended pursuant to division (G)(1) of this section, the license of a real estate salesperson associated with that broker correspondingly is suspended pursuant to division (H) of section 4735.20 of the Revised Code. However, the suspended license of the associated real estate salesperson shall be reactivated and no fee shall be charged or collected for that reactivation if all of the following occur:(a) That broker subsequently submits satisfactory proof to the superintendent that the broker has complied with the requirements of division (G)(1) of this section and requests that the broker's license as a real estate broker be reactivated;(b) The superintendent then reactivates the broker's license as a real estate broker;(c) The associated real estate salesperson intends to continue to be associated with that broker and otherwise is in compliance with this chapter.Cite as R.C. § 4735.07Amended by 131st General Assembly File No. TBD, HB 532, §1, eff. 4/6/2017.Amended by 130th General Assembly File No. 25, HB 59, §101.01, eff. 9/29/2013.Amended by 129th General AssemblyFile No.28, HB 153, §101.01, eff. 9/29/2011.Effective Date: 04-05-2002 .4735.08 Conditions for issuing license.The superintendent of real estate shall issue a real estate broker's license when the superintendent is satisfied that:(A) An applicant who is not a partnership, association, limited liability company, limited liability partnership, or corporation satisfies one of the following:(1) Has received a passing score on each portion of the real estate broker's examination as determined by rule by the real estate commission;(2) Is qualified to be licensed without examination as a nonresident real estate broker, under division (E) of section 4735.07 of the Revised Code.(B) All the members or officers who are authorized to perform the functions of a real estate broker as the agents of an applicant that is a partnership, association, limited liability company, limited liability partnership, or corporation, are licensed themselves as real estate brokers under this chapter.Cite as R.C. § 4735.08Effective Date: 09-22-2000 .4735.081 Designation of principal broker.(A) Each brokerage shall designate at least one affiliated broker to act as the principal broker of the brokerage. Any affiliated broker not so designated shall be an associate broker or management level licensee for that brokerage.(B) A brokerage shall report any change in designation as a principal broker to the superintendent not later than fifteen days after the change occurs.(C) Every principal broker of a brokerage shall do all of the following:(1) Oversee and direct the operations of the brokerage;(2) Comply with the office requirements set forth in division (A) of section 4735.13 and division (A) of section 4735.16 of the Revised Code;(3) Display, as required by division (D) of section 4735.16 of the Revised Code and division rules, the fair housing statement in the brokerage offices and on the pamphlets required by that section and section 4735.03 of the Revised Code and the rules adopted by the Ohio real estate commission;(4) Renew the licenses of the brokerage and any branch offices as required by section 4735.14 of the Revised Code and pay the fee required under division (B)(2) of section 4735.15 of the Revised Code and commission rules;(5) Maintain the licenses of the brokerage and affiliated salespersons and brokers as required by section 4735.13 of the Revised Code;(6) Return the license of terminated salespersons and brokers as required by division (B) of section 4735.13 of the Revised Code;(7) Comply with the trust or special bank account requirements set forth in divisions (A)(26) and (27) of section 4735.18 and section4735.24 of the Revised Code and commission rules;(8) Maintain complete and accurate trust account records and transaction records as required by division (A)(24) of section 4735.18of the Revised Code and commission rules;(9) Develop and maintain a written company policy on agency relationships as required by section 4735.54 of the Revised Code and rules adopted by the superintendent of real estate and professional licensing;(10) Develop a written brokerage policy on agency required by section 4735.56 of the Revised Code;(11) Pay affiliate licensees as required by division (A) (31) of section 4735.18 of the Revised Code;(12) Establish practices and procedures to assure that only affiliated licensees perform and are compensated for performing the licensed activity as required by division (A)(34) of sections 4735.18 and 4735.20 of the Revised Code;(13) Establish practices and procedures to assure compliance with the advertising requirements set forth in section 4735.16 of the Revised Code and commission rules;(14) Generally oversee the licensed activity of affiliated licensees and to assure that affiliated licensees are providing real estate services within their area of competency or are working with another affiliated licensee who possesses such a competency.(D) The principal broker or brokers of a brokerage may assign to a management level licensee any of the duties described in division (C) of this section or in commission rules.(E) The superintendent may permit a broker to be licensed with and act as the principal broker for more than one brokerage.(F) Nothing in this section shall be considered prima facie evidence of whether an affiliated licensee is an independent contractor or an employee of the brokerage.Cite as R.C. § 4735.081Added by 131st General Assembly File No. TBD, HB 532, §1, eff. 4/6/2017.4735.09 Salesperson's application - license qualifications.(A) Application for a license as a real estate salesperson shall be made to the superintendent of real estate on forms furnished by the superintendent and signed by the applicant. The application shall be in the form prescribed by the superintendent and shall contain such information as is required by this chapter and the rules of the Ohio real estate commission. The application shall be accompanied by the recommendation of the real estate broker with whom the applicant is associated or with whom the applicant intends to be associated, certifying that the applicant is honest, truthful, and of good reputation, has not been convicted of a felony or a crime involving moral turpitude, and has not been finally adjudged by a court to have violated any municipal, state, or federal civil rights laws relevant to the protection of purchasers or sellers of real estate, which conviction or adjudication the applicant has not disclosed to the superintendent, and recommending that the applicant be admitted to the real estate salesperson examination.(B) A fee of sixty dollars shall accompany the application, which fee includes the fee for the initial year of the licensing period, if a license is issued. The initial year of the licensing period commences at the time the license is issued and ends on the applicant's first birthday thereafter. The application fee shall be nonrefundable. A fee of sixty dollars shall be charged by the superintendent for each successive application made by the applicant. One dollar of each application fee shall be credited to the real estate education and research fund.(C) There shall be no limit placed on the number of times an applicant may retake the examination.(D) The superintendent, with the consent of the commission, may enter into an agreement with a recognized national testing service to administer the real estate salesperson's examination under the superintendent's supervision and control, consistent with the requirements of this chapter as to the contents of the examination.If the superintendent, with the consent of the commission, enters into an agreement with a national testing service to administer the real estate salesperson's examination, the superintendent may require an applicant to pay the testing service's examination fee directly to the testing service. If the superintendent requires the payment of the examination fee directly to the testing service, each applicant shall submit to the superintendent a processing fee in an amount determined by the Ohio real estate commission pursuant to division (A)(1) of section 4735.10 of the Revised Code.(E) The superintendent shall issue a real estate salesperson's license when satisfied that the applicant has received a passing score on each portion of the salesperson's examination as determined by rule by the real estate commission, except that the superintendent may waive one or more of the requirements of this section in the case of an applicant who is a licensed real estate salesperson in another state pursuant to a reciprocity agreement with the licensing authority of the state from which the applicant holds a valid real estate salesperson's license.(F) No applicant for a salesperson's license shall take the salesperson's examination who has not established to the satisfaction of the superintendent that the applicant:(1) Is honest, truthful, and of good reputation;(2)(a) Has not been convicted of a felony or crime of moral turpitude or, if the applicant has been so convicted, the superintendent has disregarded the conviction because the applicant has proven to the superintendent, by a preponderance of the evidence, that the applicant's activities and employment record since the conviction show that the applicant is honest, truthful, and of good reputation, and there is no basis in fact for believing that the applicant again will violate the laws involved;(b) Has not been finally adjudged by a court to have violated any municipal, state, or federal civil rights laws relevant to the protection of purchasers or sellers of real estate or, if the applicant has been so adjudged, at least two years have passed since the court decision and the superintendent has disregarded the adjudication because the applicant has proven, by a preponderance of the evidence, that the applicant is honest, truthful, and of good reputation, and there is no basis in fact for believing that the applicant again will violate the laws involved.(3) Has not, during any period in which the applicant was licensed under this chapter, violated any provision of, or any rule adopted pursuant to this chapter, or, if the applicant has violated such provision or rule, has established to the satisfaction of the superintendent that the applicant will not again violate such provision or rule;(4) Is at least eighteen years of age;(5) If born after the year 1950, has a high school diploma or its equivalent as recognized by the state department of education;(6) Has successfully completed at an institution of higher education all of the following credit-eligible courses by either classroom instruction or distance education :(a) Forty hours of instruction in real estate practice;(b) Forty hours of instruction that includes the subjects of Ohio real estate law, municipal, state, and federal civil rights law, new case law on housing discrimination, desegregation issues, and methods of eliminating the effects of prior discrimination. If feasible, the instruction in Ohio real estate law shall be taught by a member of the faculty of an accredited law school. If feasible, the instruction in municipal, state, and federal civil rights law, new case law on housing discrimination, desegregation issues, and methods of eliminating the effects of prior discrimination shall be taught by a staff member of the Ohio civil rights commission who is knowledgeable with respect to those subjects. The requirements of this division do not apply to an applicant who is admitted to practice before the supreme court.(c) Twenty hours of instruction in real estate appraisal;(d) Twenty hours of instruction in real estate finance.(G)(1) Successful completion of the instruction required by division (F)(6) of this section shall be determined by the law in effect on the date the instruction was completed.(2) Division (F)(6)(c) of this section does not apply to any new applicant who holds a valid Ohio real estate appraiser license or certificate issued prior to the date of application for a real estate salesperson's license.(H) Only for noncredit course offerings, an institution of higher education shall obtain approval from the appropriate state authorizing entity prior to offering a real estate course that is designed and marketed as satisfying the salesperson license education requirements of division (F)(6) of this section. The state authorizing entity may consult with the superintendent in reviewing the course for compliance with this section.(I) Any person who has not been licensed as a real estate salesperson or broker within a four-year period immediately preceding the person's current application for the salesperson's examination shall have successfully completed the prelicensure instruction required by division (F)(6) of this section within a ten-year period immediately preceding the person's current application for the salesperson's examination.(J) Not earlier than the date of issue of a real estate salesperson's license to a licensee, but not later than twelve months after the date of issue of a real estate salesperson license to a licensee, the licensee shall submit proof satisfactory to the superintendent, on forms made available by the superintendent, of the completion of twenty hours of instruction that shall be completed in schools, seminars, and educational institutions approved by the commission. The instruction shall include, but is not limited to, current practices relating to commercial real estate, property management, short sales, and land contracts; contract law; federal and state programs; economic conditions; and fiduciary responsibility. Approval of the curriculum and providers shall be granted according to rules adopted pursuant to section 4735.10 of the Revised Code and may be taken through classroom instruction or distance education.If proof of completion of the required instruction is not submitted within twelve months of the date a license is issued under this section, the licensee's license is suspended automatically without the taking of any action by the superintendent. The superintendent immediately shall notify the broker with whom such salesperson is associated of the suspension of the salesperson's license. A salesperson whose license has been suspended under this division shall have twelve months after the date of the suspension of the salesperson's license to submit proof of successful completion of the instruction required under this division. No such license shall be reactivated by the superintendent until it is established, to the satisfaction of the superintendent, that the requirements of this division have been met and that the licensee is in compliance with this chapter. A licensee's license is revoked automatically without the taking of any action by the superintendent when the licensee fails to submit the required proof of completion of the education requirements under division (I) of this section within twelve months of the date the license is suspended.(K) Examinations shall be administered with reasonable accommodations in accordance with the requirements of the "Americans with Disabilities Act of 1990," 104 Stat. 327, 42 U.S.C. 12189. The contents of an examination shall be consistent with the classroom instructional requirements of division (F)(6) of this section. An applicant who has completed the classroom instructional requirements of division (F)(6) of this section at the time of application shall be examined no later than twelve months after the applicant is notified of the applicant's admission to the examination.Cite as R.C. § 4735.09Amended by 131st General Assembly File No. TBD, HB 532, §1, eff. 4/6/2017.Amended by 131st General Assembly File No. TBD, HB 113, §1, eff. 9/14/2016.Amended by 130th General Assembly File No. 25, HB 59, §101.01, eff. 9/29/2013.Amended by 129th General AssemblyFile No.28, HB 153, §101.01, eff. 9/29/2011.Amended by 128th General AssemblyFile No.9, HB 1, §101.01, eff. 10/16/2009.Effective Date: 04-05-2002; 11-05-20044735.091 Relationship with brokerage.A real estate broker, real estate salesperson, foreign real estate dealer, and foreign real estate salesperson may be associated with a brokerage as either an employee or an independent contractor.Added by 131st General Assembly File No. TBD, HB 532, §1, eff. 4/6/2017.4735.10 Administrative rules.(A)(1) The Ohio real estate commission may adopt reasonable rules in accordance with Chapter 119. of the Revised Code, necessary for implementing the provisions of this chapter relating, but not limited to, the following:(a) The form and manner of filing applications for licensure;(b) Times and form of examination for license;(c) Placing an existing broker's license on deposit or a salesperson's license on an inactive status for an indefinite period;(d) Specifying the process by which a licensee may resign the licensee's license;(e) Defining any additional license status that the commission determines is necessary and that is not otherwise defined in this chapter and establishing the process by which a licensee places the licensee's license in a status defined by the commission in the rules the commission adopts;(f) Clarification of the activities that require a license under this chapter;(g) Permitting a broker to act as principal broker for more than one brokerage.(2) The commission shall adopt reasonable rules in accordance with Chapter 119. of the Revised Code, for implementing the provisions of this chapter relating to the following:(a) The issuance, renewal, suspension, and revocation of licenses, other sanctions that may be imposed for violations of this chapter, the conduct of hearings related to these actions, and the process of reactivating a license;(b) A three-year license and a three-year license renewal system;(c) Standards for the approval of the postlicensure courses as required by division (G) of section 4735.07 and division (J) of section4735.09 of the Revised Code, courses of study required for licenses, courses offered in preparation for license examinations, or courses required as continuing education for licenses.(d) Guidelines to ensure that continuing education classes are open to all persons licensed under this chapter. The rules shall specify that an organization that sponsors a continuing education class may offer its members a reasonable reduction in the fees charged for the class.(e) Requirements for trust accounts and property management accounts. The rules shall specify that:(i) Brokerages engaged in the management of property for another may, pursuant to a written contract with the property owner, exercise signatory authority for withdrawals from property management accounts maintained in the name of the property owner. The exercise of authority for withdrawals does not constitute a violation of any provision of division (A) of section 4735.18 of the Revised Code.(ii) The interest earned on property management trust accounts maintained in the name of the property owner or the broker shall be payable to the property owner unless otherwise specified in a written contract.(f) Notice of renewal forms and filing deadlines;(g) Special assessments under division (A) of section 4735.12 of the Revised Code.(B) The commission may adopt rules in accordance with Chapter 119. of the Revised Code establishing standards and guidelines with which the superintendent of real estate shall comply in the exercise of the following powers:(1) Appointment and recommendation of ancillary trustees under section 4735.05 of the Revised Code;(2) Rejection of names proposed to be used by partnerships, associations, limited liability companies, limited liability partnerships, and corporations, under division (B) of section 4735.06 of the Revised Code, including procedures for the application and approval of more than one trade name for a brokerage ;(3) Acceptance and rejection of applications to take the broker and salesperson examinations and licensure, with appropriate waivers pursuant to division (E) of section 4735.07 and section 4735.09 of the Revised Code;(4) Approval of applications of brokers to place their licenses in an inactive status and to become salespersons under section 4735.13of the Revised Code;(5) Appointment of hearing examiners under section 119.09 of the Revised Code;(6) Acceptance and rejection of applications to take the foreign real estate dealer and salesperson examinations and licensure, with waiver of examination, under sections 4735.27 and 4735.28 of the Revised Code;(7) Qualification of foreign real estate under section 4735.25 of the Revised Code.If at any time there is no rule in effect establishing a guideline or standard required by this division, the superintendent may adopt a rule in accordance with Chapter 119. of the Revised Code for such purpose.(C) The commission or superintendent may hear testimony in matters relating to the duties imposed upon them, and the president of the commission and superintendent may administer oaths. The commission or superintendent may require other proof of the honesty, truthfulness, and good reputation of any person named in an application for a real estate broker's or real estate salesperson's license before admitting the applicant to the examination or issuing a license.Cite as R.C. § 4735.10Amended by 131st General Assembly File No. TBD, HB 532, §1, eff. 4/6/2017.Amended by 130th General Assembly File No. 25, HB 59, §101.01, eff. 9/29/2013.Amended by 129th General AssemblyFile No.127, HB 487, §101.01, eff. 9/9/2012.Amended by 129th General AssemblyFile No.28, HB 153, §101.01, eff. 9/29/2011.Effective Date: 04-05-2002; 2007 HB119 09-29-2007; 2008 HB562 09-22-2008 .4735.11 License form and size.The form and size of licenses issued under this chapter shall be prescribed by the Ohio real estate commission. Each broker's or foreign real estate dealer's license shall show the name and address of the licensee, and in the case of partnership, association, limited liability company, limited liability partnership, and corporation licenses, the name and address of each of the members or officers of the partnership, association, limited liability company, limited liability partnership, or corporation. A real estate salesperson's license or a foreign real estate salesperson's license shall show the name of the real estate broker or foreign real estate dealer with whom the salesperson is or is to be associated. Each license shall be issued under the seal prescribed in section 121.20 of the Revised Code and be signed by the president of the commission.Cite as R.C. § 4735.11Effective Date: 09-22-2000 .4735.12 Real estate recovery fund.(A) The real estate recovery fund is hereby created in the state treasury, to be administered by the superintendent of real estate. Amounts collected by the superintendent as prescribed in this section and interest earned on the assets of the fund shall be credited by the treasurer of state to the fund. The amount of money in the fund shall be ascertained by the superintendent as of the first day of July of each year.The commission, in accordance with rules adopted under division (A)(2)(g) of section 4735.10 of the Revised Code, shall impose a special assessment not to exceed ten dollars per year for each year of a licensing period on each licensee filing a notice of renewal under section 4735.14 of the Revised Code if the amount available in the fund is less than five hundred thousand dollars on the first day of July preceding that filing. The commission may impose a special assessment not to exceed five dollars per year for each year of a licensing period if the amount available in the fund is greater than one million dollars, but less than two million dollars on the first day of July preceding that filing. The commission shall not impose a special assessment if the amount available in the fund exceeds two million dollars on the first day of July preceding that filing.(B)(1) Any person who obtains a final judgment in any court of competent jurisdiction against any broker or salesperson licensed under this chapter, on the grounds of conduct that is in violation of this chapter or the rules adopted under it, and that is associated with an act or transaction that only a licensed real estate broker or licensed real estate salesperson is authorized to perform as specified in division (A) or (C) of section 4735.01 of the Revised Code, may file a verified application, as described in division (B)(3) of this section, in the court of common pleas of Franklin county for an order directing payment out of the real estate recovery fund of the portion of the judgment that remains unpaid and that represents the actual and direct loss sustained by the applicant.(2) Punitive damages, attorney's fees, and interest on a judgment are not recoverable from the fund. In the discretion of the superintendent of real estate, court costs may be recovered from the fund, and, if the superintendent authorizes the recovery of court costs, the order of the court of common pleas then may direct their payment from the fund.(3) The application shall specify the nature of the act or transaction upon which the underlying judgment was based, the activities of the applicant in pursuit of remedies available under law for the collection of judgments, and the actual and direct losses, attorney's fees, and the court costs sustained or incurred by the applicant. The applicant shall attach to the application a copy of each pleading and order in the underlying court action.(4) The court shall order the superintendent to make such payments out of the fund when the person seeking the order has shown all of the following:(a) The person has obtained a judgment, as provided in this division;(b) All appeals from the judgment have been exhausted and the person has given notice to the superintendent, as required by division (C) of this section;(c) The person is not a spouse of the judgment debtor, or the personal representative of such spouse;(d) The person has diligently pursued the person's remedies against all the judgment debtors and all other persons liable to the person in the transaction for which the person seeks recovery from the fund;(e) The person is making the person's application not more than one year after termination of all proceedings, including appeals, in connection with the judgment.(5) Divisions (B)(1) to (4) of this section do not apply to any of the following:(a) Actions arising from property management accounts maintained in the name of the property owner;(b) A bonding company when it is not a principal in a real estate transaction;(c) A person in an action for the payment of a commission or fee for the performance of an act or transaction specified or comprehended in division (A) or (C) of section 4735.01 of the Revised Code;(d) Losses incurred by investors in real estate if the applicant and the licensee are principals in the investment.(C) A person who applies to a court of common pleas for an order directing payment out of the fund shall file notice of the application with the superintendent. The superintendent may defend any such action on behalf of the fund and shall have recourse to all appropriate means of defense and review, including examination of witnesses, verification of actual and direct losses, and challenges to the underlying judgment required in division (B)(4)(a) of this section to determine whether the underlying judgment is based on activity only a licensed broker or licensed salesperson is permitted to perform. The superintendent may move the court at any time to dismiss the application when it appears there are no triable issues and the application is without merit. The motion may be supported by affidavit of any person having knowledge of the facts and may be made on the basis that the application, including the judgment referred to in it, does not form the basis for a meritorious recovery claim; provided, that the superintendent shall give written notice to the applicant at least ten days before such motion. The superintendent may, subject to court approval, compromise a claim based upon the application of an aggrieved party. The superintendent shall not be bound by any prior compromise or stipulation of the judgment debtor.(D) Notwithstanding any other provision of this section, the liability of the fund shall not exceed forty thousand dollars for any one licensee. If a licensee's license is reactivated as provided in division (E) of this section, the liability of the fund for the licensee under this section shall again be forty thousand dollars, but only for transactions that occur subsequent to the time of reactivation.If the forty-thousand-dollar liability of the fund is insufficient to pay in full the valid claims of all aggrieved persons by whom claims have been filed against any one licensee, the forty thousand dollars shall be distributed among them in the ratio that their respective claims bear to the aggregate of valid claims or in such other manner as the court finds equitable. Distribution of moneys shall be among the persons entitled to share in it, without regard to the order of priority in which their respective judgments may have been obtained or their claims have been filed. Upon petition of the superintendent, the court may require all claimants and prospective claimants against one licensee to be joined in one action, to the end that the respective rights of all such claimants to the fund may be equitably adjudicated and settled.(E) If the superintendent pays from the fund any amount in settlement of a claim or toward satisfaction of a judgment against a licensed broker or salesperson, the license of the broker or salesperson shall be automatically suspended upon the date of payment from the fund. The superintendent shall not reactivate the suspended license of that broker or salesperson until the broker or salesperson has repaid in full, plus interest per annum at the rate specified in division (A) of section 1343.03 of the Revised Code, the amount paid from the fund on the broker's or salesperson's account. A discharge in bankruptcy does not relieve a person from the suspension and requirements for reactivation provided in this section unless the underlying judgment has been included in the discharge and has not been reaffirmed by the debtor.(F) If, at any time, the money deposited in the fund is insufficient to satisfy any duly authorized claim or portion of a claim, the superintendent shall, when sufficient money has been deposited in the fund, satisfy such unpaid claims or portions, in the order that such claims or portions were originally filed, plus accumulated interest per annum at the rate specified in division (A) of section1343.03 of the Revised Code.(G) When, upon the order of the court, the superintendent has paid from the fund any sum to the judgment creditor, the superintendent shall be subrogated to all of the rights of the judgment creditor to the extent of the amount so paid, and the judgment creditor shall assign all the judgment creditor's right, title, and interest in the judgment to the superintendent to the extent of the amount so paid. Any amount and interest so recovered by the superintendent on the judgment shall be deposited in the fund.(H) Nothing contained in this section shall limit the authority of the superintendent to take disciplinary action against any licensee under other provisions of this chapter; nor shall the repayment in full of all obligations to the fund by any licensee nullify or modify the effect of any other disciplinary proceeding brought pursuant to this chapter.(I) The superintendent shall collect from the fund a service fee in an amount equivalent to the interest rate specified in division (A) of section 1343.03 of the Revised Code multiplied by the annual interest earned on the assets of the fund, to defray the expenses incurred in the administration of the fund.Cite as R.C. § 4735.12Amended by 128th General AssemblyFile No.9, HB 1, §101.01, eff. 10/16/2009.Effective Date: 04-05-2002 .4735.13 Definite place of business required; display and care of licenses.(A) Every real estate broker licensed under this chapter shall have and maintain a definite place of business in this state. A post office box address is not a definite place of business for purposes of this section. The license of a real estate broker shall be prominently displayed in the office or place of business of the broker, and no license shall authorize the licensee to do business except from the location specified in it. If the broker maintains more than one place of business within the state, the broker shall apply for and procure a duplicate license for each branch office maintained by the broker. Each branch office shall be in the charge of a licensed broker or salesperson. The branch office license shall be prominently displayed at the branch office location.(B) The license of each real estate salesperson shall be mailed to and remain in the possession of the licensed broker with whom the salesperson is or is to be associated until the licensee places the license on inactive or resigned status or until the salesperson leaves the brokerage or is terminated. The broker shall keep each salesperson's license in a way that it can, and shall on request, be made immediately available for public inspection at the office or place of business of the broker. Except as provided in divisions (G) and (H) of this section, immediately upon the salesperson's leaving the association or termination of the association of a real estate salesperson with the broker, the broker shall return the salesperson's license to the superintendent of real estate.The failure of a broker to return the license of a real estate salesperson or broker who leaves or who is terminated, via certified mail return receipt requested, within three business days of the receipt of a written request from the superintendent for the return of the license, is prima-facie evidence of misconduct under division (A)(6) of section 4735.18 of the Revised Code.(C) A licensee shall notify the superintendent in writing within fifteen days of any of the following occurrences:(1) The licensee is convicted of a felony.(2) The licensee is convicted of a crime involving moral turpitude.(3) The licensee is found to have violated any federal, state, or municipal civil rights law pertaining to discrimination in housing.(4) The licensee is found to have engaged in a discriminatory practice pertaining to housing accommodations described in division (H) of section 4112.02 of the Revised Code.(5) The licensee is the subject of an order by the department of commerce, the department of insurance, or the department of agriculture revoking or permanently surrendering any professional license, certificate, or registration.(6) The licensee is the subject of an order by any government agency concerning real estate, financial matters, or the performance of fiduciary duties with respect to any license, certificate, or registration.If a licensee fails to notify the superintendent within the required time, the superintendent immediately may suspend the license of the licensee.Any court that convicts a licensee of a violation of any municipal civil rights law pertaining to housing discrimination also shall notify the Ohio civil rights commission within fifteen days of the conviction.(D) In case of any change of business location, a broker shall give notice to the superintendent, on a form prescribed by the superintendent, within thirty days after the change of location, whereupon the superintendent shall issue new licenses for the unexpired period without charge. If a broker changes a business location without giving the required notice and without receiving new licenses that action is prima-facie evidence of misconduct under division (A)(6) of section 4735.18 of the Revised Code.(E) If a real estate broker desires to associate with another real estate broker in the capacity of a real estate salesperson, the broker shall apply to the superintendent to deposit the broker's real estate broker's license with the superintendent and for the issuance of a real estate salesperson's license. The application shall be made on a form prescribed by the superintendent and shall be accompanied by the recommendation of the real estate broker with whom the applicant intends to become associated and a fee of twenty-five dollars for the real estate salesperson's license. One dollar of the fee shall be credited to the real estate education and research fund. If the superintendent is satisfied that the applicant is honest, truthful, and of good reputation, has not been convicted of a felony or a crime involving moral turpitude, and has not been finally adjudged by a court to have violated any municipal, state, or federal civil rights laws relevant to the protection of purchasers or sellers of real estate, and that the association of the real estate broker and the applicant will be in the public interest, the superintendent shall grant the application and issue a real estate salesperson's license to the applicant. Any license so deposited with the superintendent shall be subject to this chapter. A broker who intends to deposit the broker's license with the superintendent, as provided in this section, shall give written notice of this fact in a format prescribed by the superintendent to all salespersons associated with the broker when applying to place the broker's license on deposit.(F) If a real estate broker desires to become a member or officer of a partnership, association, limited liability company, limited liability partnership, or corporation that is or intends to become a licensed real estate broker, the broker shall notify the superintendent of the broker's intentions. The notice of intention shall be on a form prescribed by the superintendent and shall be accompanied by a fee of twenty-five dollars. One dollar of the fee shall be credited to the real estate education and research fund.A licensed real estate broker who is a member or officer of a partnership, association, limited liability company, limited liability partnership, or corporation shall only act as a real estate broker for such partnership, association, limited liability company, limited liability partnership, or corporation.(G)(1) If a real estate broker or salesperson enters the armed forces, the broker or salesperson may place the broker's or salesperson's license on deposit with the Ohio real estate commission. The licensee shall not be required to renew the license until the renewal date that follows the date of discharge from the armed forces. Any license deposited with the commission shall be subject to this chapter.Any licensee whose license is on deposit under this division and who fails to meet the continuing education requirements of section4735.141 of the Revised Code because the licensee is in the armed forces shall satisfy the commission that the licensee has complied with the continuing education requirements within twelve months of the licensee's first birthday after discharge or within the amount of time equal to the total number of months the licensee spent on active duty, whichever is greater. The licensee shall submit proper documentation of active duty service and the length of that active duty service to the superintendent. The extension shall not exceed the total number of months that the licensee served in active duty. The superintendent shall notify the licensee of the licensee's obligations under section 4735.141 of the Revised Code at the time the licensee applies for reactivation of the licensee's license.(2) If a licensee is a spouse of a member of the armed forces and the spouse's service resulted in the licensee's absence from this state, both of the following apply:(a) The licensee shall not be required to renew the license until the renewal date that follows the date of the spouse's discharge from the armed forces.(b) If the licensee fails to meet the continuing education requirements of section 4735.141 of the Revised Code, the licensee shall satisfy the commission that the licensee has complied with the continuing education requirements within twelve months after the licensee's first birthday after the spouse's discharge or within the amount of time equal to the total number of months the licensee's spouse spent on active duty, whichever is greater. The licensee shall submit proper documentation of the spouse's active duty service and the length of that active duty service. This extension shall not exceed the total number of months that the licensee's spouse served in active duty.(3) In the case of a licensee as described in division (G)(2) of this section, who holds the license through a reciprocity agreement with another state, the spouse's service shall have resulted in the licensee's absence from the licensee's state of residence for the provisions of that division to apply.(4) As used in this division, "armed forces" means the armed forces of the United States or reserve component of the armed forces of the United States including the Ohio national guard or the national guard of any other state.(H) If a licensed real estate salesperson submits an application to the superintendent to leave the association of one broker to associate with a different broker, the broker possessing the licensee's license need not return the salesperson's license to the superintendent. The superintendent may process the application regardless of whether the licensee's license is returned to the superintendent.Cite as R.C. § 4735.13Amended by 131st General Assembly File No. TBD, HB 64, §101.01, eff. 9/29/2015.Amended by 129th General AssemblyFile No.127, HB 487, §101.01, eff. 9/9/2012.Amended by 129th General AssemblyFile No.28, HB 153, §101.01, eff. 9/29/2011.Amended by 128th General AssemblyFile No.9, HB 1, §101.01, eff. 10/16/2009.Effective Date: 04-05-2002; 11-05-2004; 2008 HB562 09-22-2008 .4735.14 License term; notice of change of address; notice of renewal.(A) Each license issued under this chapter, shall be valid without further recommendation or examination until it is placed in an inactive or resigned status, is revoked or suspended, or such license expires by operation of law.(B) Except for a licensee who has placed the licensee's license in resigned status pursuant to section 4735.142 of the Revised Code, each licensed broker, brokerage, or salesperson shall file, on or before the date the Ohio real estate commission has adopted by rule for that licensee in accordance with division (A)(2)(f) of section 4735.10 of the Revised Code, a notice of renewal on a form prescribed by the superintendent of real estate. The notice of renewal shall be mailed by the superintendent two months prior to the filing deadline to the personal residence address of each broker or salesperson that is on file with the division. If the licensee is a partnership, association, limited liability company, limited liability partnership, or corporation, the notice of renewal shall be mailed by the superintendent two months prior to the filing deadline to the brokerage's business address on file with the division. A licensee shall not renew the licensee's license any earlier than two months prior to the filing deadline.(C) Except as otherwise provided in division (B) of this section, the license of any real estate broker, brokerage, or salesperson that fails to file a notice of renewal on or before the filing deadline of each ensuing year shall be suspended automatically without the taking of any action by the superintendent. A suspended license may be reactivated within twelve months of the date of suspension, provided that the renewal fee plus a penalty fee of fifty per cent of the renewal fee is paid to the superintendent. Failure to reactivate the license as provided in this division shall result in automatic revocation of the license without the taking of any action by the superintendent. No person, partnership, association, corporation, limited liability company, or limited partnership shall engage in any act or acts for which a real estate license is required while that entity's license is placed in an inactive or resigned status, or is suspended, or revoked. The commission shall adopt rules in accordance with Chapter 119. of the Revised Code to provide to licensees notice of suspension or revocation or both.(D) Each licensee shall notify the superintendent of a change in personal residence address. A licensee's failure to notify the superintendent of a change in personal residence address does not negate the requirement to file the license renewal by the required deadline established by the commission by rule under division (A)(2)(f) of section 4735.10 of the Revised Code.(E) The superintendent shall not renew a license if the licensee fails to comply with section 4735.141 of the Revised Code or is otherwise not in compliance with this chapter.(F) The superintendent shall make notice of successful renewal available electronically to licensees as soon as practicable, but not later than thirty days after receipt by the division of a complete application and renewal fee. This notice shall serve as a notice of renewal for purposes of section 4745.02 of the Revised Code.Cite as R.C. § 4735.14Amended by 129th General AssemblyFile No.127, HB 487, §101.01, eff. 9/9/2012.Amended by 129th General AssemblyFile No.28, HB 153, §101.01, eff. 9/29/2011.Effective Date: 04-05-2002; 11-05-2004; 2008 HB562 09-22-2008 .4735.141 Continuing education.(A) Except as otherwise provided in this division and in section 4735.13 of the Revised Code and except for a licensee who has placed the licensee's license in resigned status pursuant to section 4735.142 of the Revised Code, each person licensed under section4735.07 or 4735.09 of the Revised Code shall submit proof satisfactory to the superintendent of real estate that the licensee has satisfactorily completed thirty hours of continuing education, as prescribed by the Ohio real estate commission pursuant to section4735.10 of the Revised Code, on or before the licensee's birthday occurring three years after the licensee's date of initial licensure, and on or before the licensee's birthday every three years thereafter. If the person is licensed as a broker or broker on deposit, or acts as a management level licensee, the continuing education shall include a three-hour course on the duties of a principal broker and other issues involved in operating a real estate brokerage. The continuing education may be completed by either classroom instruction or distance education.Persons licensed as real estate salespersons who subsequently become licensed real estate brokers shall continue to submit proof of continuing education in accordance with the time period established in this section.The requirements of this section shall not apply to any disabled licensee as provided in division (E) of this section.Each licensee who is seventy years of age or older, within a continuing education reporting period, shall submit proof satisfactory to the superintendent of real estate that the licensee has satisfactorily completed both of the following:(1) A total of nine hours of continuing education, including instruction in Ohio real estate law; recently enacted state and federal laws affecting the real estate industry; municipal, state, and federal civil rights law; and canons of ethics for the real estate industry as adopted by the commission;(2) If licensed as a broker, broker on deposit, or acting as a management level licensee, a three-hour continuing education course on the duties of a principal broker and other issues involved in operating a real estate brokerage.The continuing education may be completed by either classroom instruction or distance education. The required proof of completion shall be submitted on or before the licensee's birthday that falls in the third year of that continuing education reporting period. A licensee who is seventy years of age or older whose license is in an inactive status is exempt from the continuing education requirements specified in this section. The commission shall adopt reasonable rules in accordance with Chapter 119. of the Revised Code to carry out the purposes of this paragraph.(B) The continuing education requirements of this section shall be completed in schools, seminars, and educational institutions approved by the commission. Such approval shall be given according to rules established by the commission under the procedures of Chapter 119. of the Revised Code, and shall not be limited to institutions providing two-year or four-year degrees. Each school, seminar, or educational institution approved under this division shall be open to all licensees on an equal basis.(C) If the requirements of this section are not met by a licensee within the period specified, the licensee's license shall be suspended automatically without the taking of any action by the superintendent. The superintendent shall notify the licensee of the license suspension, and such notification shall be sent by regular mail to the personal residence address of the licensee that is on file with the division. Any license so suspended shall remain suspended until it is reactivated by the superintendent. No such license shall be reactivated until it is established, to the satisfaction of the superintendent, that the requirements of this section have been met. If the requirements of this section are not met within twelve months from the date the license was suspended, the license shall be revoked automatically without the taking of any action by the superintendent.(D) If the license of a real estate broker is suspended pursuant to division (C) of this section, the license of a real estate salesperson associated with that broker correspondingly is suspended pursuant to division (H) of section 4735.20 of the Revised Code. A sole broker shall notify affiliated salespersons of the suspension in writing within three days of receiving the notice required by division (C) of this section.(1) The suspended license of the associated real estate salesperson shall be reactivated and no fee shall be charged or collected for that reactivation if that broker subsequently submits proof to the superintendent that the broker has complied with the requirements of this section and requests that the broker's license as a real estate broker be reactivated, and the superintendent then reactivates the broker's license as a real estate broker.(2) If the real estate salesperson submits an application to leave the association of the suspended broker in order to associate with a different broker, the suspended license of the associated real estate salesperson shall be reactivated and no fee shall be charged or collected for that reactivation. The superintendent may process the application regardless of whether the licensee's license is returned to the superintendent.Any person whose license is reactivated pursuant to this division shall comply with the requirements of this section and otherwise be in compliance with this chapter.(E) Any licensee who is a disabled licensee at any time during the last three months of the third year of the licensee's continuing education reporting period may receive an extension of time as deemed appropriate by the superintendent to submit proof to the superintendent that the licensee has satisfactorily completed the required thirty hours of continuing education. To receive an extension of time, the licensee shall submit a request to the division of real estate for the extension and proof satisfactory to the commission that the licensee was a disabled licensee at some time during the last three months of the three-year reporting period. The proof shall include, but is not limited to, a signed statement by the licensee's attending physician describing the disability, certifying that the licensee's disability is of such a nature as to prevent the licensee from attending any instruction lasting at least three hours in duration, and stating the expected duration of the disability. The licensee shall request the extension and provide the physician's statement to the division no later than one month prior to the end of the licensee's three-year continuing education reporting period, unless the disability did not arise until the last month of the three-year reporting period, in which event the licensee shall request the extension and provide the physician's statement as soon as practical after the occurrence of the disability. A licensee granted an extension pursuant to this division who is no longer a disabled licensee and who submits proof of completion of the continuing education during the extension period, shall submit, for future continuing education reporting periods, proof of completion of the continuing education requirements according to the schedule established in division (A) of this section.(F) The superintendent shall not renew a license if the licensee fails to comply with this section, and the licensee shall be required to pay the penalty fee provided in section 4735.14 of the Revised Code.(G) A licensee shall submit proof of completion of the required continuing education with the licensee's notice of renewal. The proof shall be submitted in the manner provided by the superintendent.Cite as R.C. § 4735.141Amended by 131st General Assembly File No. TBD, HB 532, §1, eff. 4/6/2017.Amended by 131st General Assembly File No. TBD, HB 64, §101.01, eff. 9/29/2015.Amended by 129th General AssemblyFile No.127, HB 487, §101.01, eff. 9/9/2012.Amended by 129th General AssemblyFile No.28, HB 153, §101.01, eff. 9/29/2011.Effective Date: 04-05-2002; 11-05-2004; 2007 HB119 09-29-2007; 2008 HB562 09-22-2008 .4735.142 License on permanently resigned status.(A) Any person licensed under section 4735.07 or 4735.09 of the Revised Code, at any time prior to the date the licensee is required to file a notice of renewal pursuant to division (B) of section 4735.14 of the Revised Code may apply to the superintendent of real estate and professional licensing to place the licensee's license in a permanently resigned status.(B) A licensee, at any time during which a license has been suspended pursuant to division (G) of section 4735.07, division (J) of section 4735.09, division (E) of section 4735.12, division (C) of section 4735.14, division (C) of section 4735.141, or section4735.182 of the Revised Code, may apply to the superintendent on a form prescribed by the superintendent to permanently resign the licensee's license voluntarily. The resignation of a license is considered to be final without the taking of any action by the superintendent.(C) If a person whose license is in a permanently resigned status pursuant to a request made under this section wishes to obtain an active or inactive license, the person shall apply for such a license in accordance with the requirements specified in section 4735.07 or4735.09 of the Revised Code, as applicable, or in the rules adopted by the commission pursuant to division (A) of section 4735.10 of the Revised Code.(D) If placing a broker's license in a permanently resigned status will result in the closure of the broker's brokerage, the broker, within three days after applying to the superintendent to place the license in a permanently resigned status, shall provide to each salesperson associated with that broker a written notice stating that fact.(E) This section does not apply to any licensee whose license has been suspended pursuant to division (F) of section 4735.181 of the Revised Code or due to disciplinary action ordered by the commission pursuant to section 4735.051 of the Revised Code.Cite as R.C. § 4735.142Amended by 131st General Assembly File No. TBD, HB 532, §1, eff. 4/6/2017.Amended by 130th General Assembly File No. 25, HB 59, §101.01, eff. 9/29/2013.Amended by 129th General AssemblyFile No.127, HB 487, §101.01, eff. 9/9/2012.Amended by 129th General AssemblyFile No.28, HB 153, §101.01, eff. 9/29/2011.Effective Date: 2008 HB562 09-22-20084735.15 Fees.(A) The nonrefundable fees for reactivation or transfer of a license shall be as follows:(1) Reactivation or transfer of a broker's license into or out of a partnership, association, limited liability company, limited liability partnership, or corporation or from one partnership, association, limited liability company, limited liability partnership, or corporation to another partnership, association, limited liability company, limited liability partnership, or corporation, twenty-five dollars. An application for such transfer shall be made to the superintendent of real estate on forms provided by the superintendent.(2) Reactivation or transfer of a license by a real estate salesperson, twenty-five dollars.(B) Except as may otherwise be specified pursuant to division (F) of this section, the nonrefundable fees for a branch office license, license renewal, late filing, and foreign real estate dealer and salesperson license are as follows per year for each year of a licensing period:(1) Branch office license, fifteen dollars;(2) Renewal of a real estate broker's license, sixty dollars. If the licensee is a partnership, association, limited liability company, limited liability partnership, or corporation, the full broker's renewal fee shall be required for each member of such partnership, association, limited liability company, limited liability partnership, or corporation that is a real estate broker. If the real estate broker has not less than eleven nor more than twenty real estate salespersons associated with the broker, an additional fee of sixty-four dollars shall be assessed to the brokerage. For every additional ten real estate salespersons or fraction of that number, the brokerage assessment fee shall be increased in the amount of thirty-seven dollars.(3) Renewal of a real estate salesperson's license, forty-five dollars;(4) Renewal of a real estate broker's or salesperson's license filed within twelve months after the licensee's renewal date, an additional late filing penalty of fifty per cent of the required fee;(5) Foreign real estate dealer's license and each renewal of the license, thirty dollars per salesperson employed by the dealer, but not less than one hundred fifty dollars;(6) Foreign real estate salesperson's license and each renewal of the license, fifty dollars.(C) All fees collected under this section shall be paid to the treasurer of state. One dollar of each such fee shall be credited to the real estate education and research fund, except that for fees that are assessed only once every three years, three dollars of each triennial fee shall be credited to the real estate education and research fund.(D) In all cases, the fee and any penalty shall accompany the application for the license, license transfer, or license reactivation or shall accompany the filing of the renewal.(E) The commission may establish by rule reasonable fees for services not otherwise established by this chapter.(F) The commission may adopt rules that provide for a reduction in the fees established in divisions (B)(2) and (3) of this section.Amended by 129th General AssemblyFile No.28, HB 153, §101.01, eff. 9/29/2011.Amended by 128th General AssemblyFile No.9, HB 1, §101.01, eff. 10/16/2009.Effective Date: 04-05-2002 .4735.16 Sign on business premises; advertising.(A) Every real estate broker licensed under this chapter shall erect or maintain a sign on the business premises plainly stating that the licensee is a real estate broker. If the real estate broker maintains one or more branch offices, the real estate broker shall erect or maintain a sign at each branch office plainly stating that the licensee is a real estate broker.(B)(1) Any licensed real estate broker or salesperson who advertises to buy, sell, exchange, or lease real estate, or to engage in any act regulated by this chapter, with respect to property the licensee does not own, shall be identified in the advertisement by name and indicate the name of the brokerage with which the licensee is affiliated.(2) Any licensed real estate broker or sales person who advertises to sell, exchange, or lease real estate, or to engage in any act regulated by this chapter, with respect to property that the licensee owns, shall be identified in the advertisement by name and indicate that the property is agent owned, and if the property is listed with a real estate brokerage, the advertisement shall also indicate the name of the brokerage with which the property is listed.(3) The name of the brokerage shall be displayed in equal prominence with the name of the salesperson in the advertisement. For purposes of this section, "brokerage" means the name the real estate company or sole broker is doing business as, or if the real estate company or sole broker does not use such a name, the name of the real estate company or sole broker as licensed.(4) A real estate broker who is representing a seller under an exclusive right to sell or lease listing agreement shall not advertise such property to the public as "for sale by owner" or otherwise mislead the public to believe that the seller is not represented by a real estate broker.(5) If any real estate broker or real estate salesperson advertises in a manner other than as provided in this section or the rules adopted under this section, that advertisement is prima-facie evidence of a violation under division (A)(21) of section 4735.18 of the Revised Code.When the superintendent determines that prima-facie evidence of a violation of division (A)(21) of section 4735.18 of the Revised Code or any of the rules adopted thereunder exists, the superintendent may do either of the following:(a) Initiate disciplinary action under section 4735.051 of the Revised Code for a violation of division (A)(21) of section 4735.18 of the Revised Code, in accordance with Chapter 119. of the Revised Code;(b) Personally, or by certified mail, serve a citation upon the licensee.(C)(1) Every citation served under this section shall give notice to the licensee of the alleged violation or violations charged and inform the licensee of the opportunity to request a hearing in accordance with Chapter 119. of the Revised Code. The citation also shall contain a statement of a fine of two hundred dollars per violation, not to exceed two thousand five hundred dollars per citation. All fines collected pursuant to this section shall be credited to the real estate recovery fund, created in the state treasury under section4735.12 of the Revised Code.(2) If any licensee is cited three times within twelve consecutive months, the superintendent shall initiate disciplinary action pursuant to section 4735.051 of the Revised Code for any subsequent violation that occurs within the same twelve-month period.(3) If a licensee fails to request a hearing within thirty days of the date of service of the citation, or the licensee and the superintendent fail to reach an alternative agreement, the citation shall become final.(4) Unless otherwise indicated, the licensee named in a final citation must meet all requirements contained in the final citation within thirty days of the effective date of that citation.(5) The superintendent shall suspend automatically a licensee's license if the licensee fails to comply with division (C)(4) of this section.(D) A real estate broker or salesperson obtaining the signature of a party to a listing or other agreement involved in a real estate transaction shall furnish a copy of the listing or other agreement to the party immediately after obtaining the party's signature. Every broker's office shall prominently display in the same immediate area as licenses are displayed a statement that it is illegal to discriminate against any person because of race, color, religion, sex, familial status as defined in section 4112.01 of the Revised Code, national origin, military status as defined in that section, disability as defined in that section, or ancestry in the sale or rental of housing or residential lots, in advertising the sale or rental of housing, in the financing of housing, or in the provision of real estate brokerage services and that blockbusting also is illegal. The statement shall bear the United States department of housing and urban development equal housing logo, shall contain the information that the broker and the broker's salespersons are licensed by the division of real estate and professional licensing and that the division can assist with any consumer complaints or inquiries, and shall explain the provisions of section 4735.12 of the Revised Code. The statement shall provide the division's address and telephone number. The Ohio real estate commission shall provide by rule for the wording and size of the statement. The pamphlet required under section 4735.03 of the Revised Code shall contain the same statement that is required on the statement displayed as provided in this section and shall be made available by real estate brokers and salespersons to their clients. The commission shall provide the wording and size of the pamphlet.Cite as R.C. § 4735.16Amended by 129th General AssemblyFile No.28, HB 153, §101.01, eff. 9/29/2011.Effective Date: 09-22-2000; 10-12-2006; 2007 HB372 03-24-2008 .4735.17 License for nonresidents.Licenses may be issued under sections 4735.01 to 4735.23 of the Revised Code, to nonresidents of this state and to foreign corporations, subject to the following additional requirements:(A) The licensee, if a broker, shall maintain an active place of business in this state. A post office box is not an active place of business for purposes of this section.(B) Every nonresident applicant shall file an irrevocable consent that suits and actions may be commenced against such applicant in the proper court of any county of this state in which a cause of action may arise or in which the plaintiff may reside by the service of any process or pleading authorized by the laws of this state on the superintendent of real estate. The consent shall stipulate that such service shall be taken and held in all courts as valid and binding as if proper service had been made upon the applicant in this state. The instrument containing such consent shall be authenticated by signature or by corporate seal. All applications of firms or corporations shall be accompanied by a certified copy of the resolution of the proper officers or managing board authorizing the proper officer to execute them. A duplicate copy of any process or pleading served on the superintendent shall be immediately forwarded by certified mail to the main office of the licensee against which that process or pleading is directed.Cite as R.C. § 4735.17Amended by 129th General AssemblyFile No.28, HB 153, §101.01, eff. 9/29/2011.Effective Date: 09-11-1985 .4735.18 Disciplinary actions.(A) Subject to section 4735.32 of the Revised Code, the superintendent of real estate, upon the superintendent's own motion, may investigate the conduct of any licensee. Subject to section 4735.32 of the Revised Code, the Ohio real estate commission shall impose disciplinary sanctions upon any licensee who, whether or not acting in the licensee's capacity as a real estate broker or salesperson, or in handling the licensee's own property, is found to have been convicted of a felony or a crime of moral turpitude, and may impose disciplinary sanctions upon any licensee who, in the licensee's capacity as a real estate broker or salesperson, or in handling the licensee's own property, is found guilty of:(1) Knowingly making any misrepresentation;(2) Making any false promises with intent to influence, persuade, or induce;(3) A continued course of misrepresentation or the making of false promises through agents, salespersons, advertising, or otherwise;(4) Acting for more than one party in a transaction except as permitted by and in compliance with section 4735.71 of the Revised Code;(5) Failure within a reasonable time to account for or to remit any money coming into the licensee's possession which belongs to others;(6) Dishonest or illegal dealing, gross negligence, incompetency, or misconduct;(7)(a) By final adjudication by a court, a violation of any municipal or federal civil rights law relevant to the protection of purchasers or sellers of real estate or, by final adjudication by a court, any unlawful discriminatory practice pertaining to the purchase or sale of real estate prohibited by Chapter 4112. of the Revised Code, provided that such violation arose out of a situation wherein parties were engaged in bona fide efforts to purchase, sell, or lease real estate, in the licensee's practice as a licensed real estate broker or salesperson;(b) A second or subsequent violation of any unlawful discriminatory practice pertaining to the purchase or sale of real estate prohibited by Chapter 4112. of the Revised Code or any second or subsequent violation of municipal or federal civil rights laws relevant to purchasing or selling real estate whether or not there has been a final adjudication by a court, provided that such violation arose out of a situation wherein parties were engaged in bona fide efforts to purchase, sell, or lease real estate. For any second offense under this division, the commission shall suspend for a minimum of two months or revoke the license of the broker or salesperson. For any subsequent offense, the commission shall revoke the license of the broker or salesperson.(8) Procuring a license under this chapter, for the licensee or any salesperson by fraud, misrepresentation, or deceit;(9) Having violated or failed to comply with any provision of sections 4735.51 to 4735.74 of the Revised Code or having willfully disregarded or violated any other provisions of this chapter;(10) As a real estate broker, having demanded, without reasonable cause, other than from a broker licensed under this chapter, a commission to which the licensee is not entitled, or, as a real estate salesperson, having demanded, without reasonable cause, a commission to which the licensee is not entitled;(11) Except as permitted under section 4735.20 of the Revised Code, having paid commissions or fees to, or divided commissions or fees with, anyone not licensed as a real estate broker or salesperson under this chapter or anyone not operating as an out-of-state commercial real estate broker or salesperson under section 4735.022 of the Revised Code;(12) Having falsely represented membership in any real estate professional association of which the licensee is not a member;(13) Having accepted, given, or charged any undisclosed commission, rebate, or direct profit on expenditures made for a principal;(14) Having offered anything of value other than the consideration recited in the sales contract as an inducement to a person to enter into a contract for the purchase or sale of real estate or having offered real estate or the improvements on real estate as a prize in a lottery or scheme of chance;(15) Having acted in the dual capacity of real estate broker and undisclosed principal, or real estate salesperson and undisclosed principal, in any transaction;(16) Having guaranteed, authorized, or permitted any person to guarantee future profits which may result from the resale of real property;(17) Having advertised or placed a sign on any property offering it for sale or for rent without the consent of the owner or the owner's authorized agent;(18) Having induced any party to a contract of sale or lease to break such contract for the purpose of substituting in lieu of it a new contract with another principal;(19) Having negotiated the sale, exchange, or lease of any real property directly with a seller, purchaser, lessor, or tenant knowing that such seller, purchaser, lessor, or tenant is represented by another broker under a written exclusive agency agreement, exclusive right to sell or lease listing agreement, or exclusive purchaser agency agreement with respect to such property except as provided for in section 4735.75 of the Revised Code;(20) Having offered real property for sale or for lease without the knowledge and consent of the owner or the owner's authorized agent, or on any terms other than those authorized by the owner or the owner's authorized agent;(21) Having published advertising, whether printed, radio, display, or of any other nature, which was misleading or inaccurate in any material particular, or in any way having misrepresented any properties, terms, values, policies, or services of the business conducted;(22) Having knowingly withheld from or inserted in any statement of account or invoice any statement that made it inaccurate in any material particular;(23) Having published or circulated unjustified or unwarranted threats of legal proceedings which tended to or had the effect of harassing competitors or intimidating their customers;(24) Having failed to keep complete and accurate records of all transactions for a period of three years from the date of the transaction, such records to include copies of listing forms, earnest money receipts, offers to purchase and acceptances of them, records of receipts and disbursements of all funds received by the licensee as broker and incident to the licensee's transactions as such, and records required pursuant to divisions (C)(4) and (5) of section 4735.20 of the Revised Code, and any other instruments or papers related to the performance of any of the acts set forth in the definition of a real estate broker;(25) Failure of a real estate broker or salesperson to furnish all parties involved in a real estate transaction true copies of all listings and other agreements to which they are a party, at the time each party signs them;(26) Failure to maintain at all times a special or trust bank account in a depository located in this state. The account shall be noninterest-bearing, separate and distinct from any personal or other account of the broker, and, except as provided in division (A)(27) of this section, shall be used for the deposit and maintenance of all escrow funds, security deposits, and other moneys received by the broker in a fiduciary capacity. The name, account number, if any, and location of the depository wherein such special or trust account is maintained shall be submitted in writing to the superintendent. Checks drawn on such special or trust bank accounts are deemed to meet the conditions imposed by section 1349.21 of the Revised Code. Funds deposited in the trust or special account in connection with a purchase agreement shall be maintained in accordance with section 4735.24 of the Revised Code.(27) Failure to maintain at all times a special or trust bank account in a depository in this state, to be used exclusively for the deposit and maintenance of all rents, security deposits, escrow funds, and other moneys received by the broker in a fiduciary capacity in the course of managing real property. This account shall be separate and distinct from any other account maintained by the broker. The name, account number, and location of the depository shall be submitted in writing to the superintendent. This account may earn interest, which shall be paid to the property owners on a pro rata basis.Division (A)(27) of this section does not apply to brokers who are not engaged in the management of real property on behalf of real property owners.(28) Having failed to put definite expiration dates in all written agency agreements to which the broker is a party;(29) Having an unsatisfied final judgment or lien in any court of record against the licensee arising out of the licensee's conduct as a licensed broker or salesperson;(30) Failing to render promptly upon demand a full and complete statement of the expenditures by the broker or salesperson of funds advanced by or on behalf of a party to a real estate transaction to the broker or salesperson for the purpose of performing duties as a licensee under this chapter in conjunction with the real estate transaction;(31) Failure within a reasonable time, after the receipt of the commission by the broker, to render an accounting to and pay a real estate salesperson the salesperson's earned share of it;(32) Performing any service for another constituting the practice of law, as determined by any court of law;(33) Having been adjudicated incompetent for the purpose of holding the license by a court, as provided in section 5122.301 of the Revised Code. A license revoked or suspended under this division shall be reactivated upon proof to the commission of the removal of the disability.(34) Having authorized or permitted a person to act as an agent in the capacity of a real estate broker, or a real estate salesperson, who was not then licensed as a real estate broker or real estate salesperson under this chapter or who was not then operating as an out-of-state commercial real estate broker or salesperson under section 4735.022 of the Revised Code;(35) Having knowingly inserted or participated in inserting any materially inaccurate term in a document, including naming a false consideration;(36) Having failed to inform the licensee's client of the existence of an offer or counteroffer or having failed to present an offer or counteroffer in a timely manner, unless otherwise instructed by the client, provided the instruction of the client does not conflict with any state or federal law;(37) Having failed to comply with section 4735.24 of the Revised Code;(38) Having acted as a broker without authority, impeded the ability of a principal broker to perform any of the duties described in section 4735.081 of the Revised Code, or impeded the ability a management level licensee to perform the licensee's duties.(B) Whenever the commission, pursuant to section 4735.051 of the Revised Code, imposes disciplinary sanctions for any violation of this section, the commission also may impose such sanctions upon the broker with whom the salesperson is affiliated if the commission finds that the broker had knowledge of the salesperson's actions that violated this section.(C) The commission shall, pursuant to section 4735.051 of the Revised Code, impose disciplinary sanctions upon any foreign real estate dealer or salesperson who, in that capacity or in handling the dealer's or salesperson's own property, is found guilty of any of the acts or omissions specified or comprehended in division (A) of this section insofar as the acts or omissions pertain to foreign real estate. If the commission imposes such sanctions upon a foreign real estate salesperson for a violation of this section, the commission also may suspend or revoke the license of the foreign real estate dealer with whom the salesperson is affiliated if the commission finds that the dealer had knowledge of the salesperson's actions that violated this section.(D) The commission may suspend, in whole or in part, the imposition of the penalty of suspension of a license under this section.Cite as R.C. § 4735.18Amended by 131st General Assembly File No. TBD, HB 532, §1, eff. 4/6/2017.Amended by 129th General AssemblyFile No.28, HB 153, §101.01, eff. 9/29/2011.Effective Date: 04-05-2002; 10-12-2006; 2008 HB130 04-07-2009 .4735.181 Sanctions for noncompliance with statutory requirements - disposition of fines.(A) No real estate broker or salesperson licensed pursuant to this chapter shall fail to comply with divisions (B) or (D) of section4735.13, division (D) of section 4735.14, or sections 4735.55, 4735.56, and 4735.58 of the Revised Code or any rules adopted under those divisions or sections.(B) When the superintendent determines that a licensee has violated division (A) of this section, the superintendent may do either of the following:(1) Initiate disciplinary action under section 4735.051 of the Revised Code, in accordance with Chapter 119. of the Revised Code;(2) Personally, or by certified mail, serve a citation and impose sanctions in accordance with this section upon the licensee.(C) Every citation served under this section shall give notice to the licensee of the alleged violation or violations charged and inform the licensee of the opportunity to request a hearing in accordance with Chapter 119. of the Revised Code. The citation also shall contain a statement of a fine of up to two hundred dollars per violation. All fines collected pursuant to this section shall be credited to the real estate recovery fund, created in the state treasury under section 4735.12 of the Revised Code.(D) If any licensee is cited three times under this section within twelve consecutive months, the superintendent shall initiate disciplinary action pursuant to section 4735.051 of the Revised Code for any subsequent violation that occurs within the same twelve-month period.If a licensee fails to request a hearing within thirty days after the date of service of the citation, or the licensee and the superintendent fail to reach an alternative agreement, the citation shall become final.(E) Unless otherwise indicated, the licensee named in a final citation under this section must meet all requirements contained in the final citation within thirty days after the effective date of that citation.(F) The superintendent shall suspend automatically a licensee's license if the licensee fails to comply with division (E) of this section.Cite as R.C. § 4735.181Amended by 129th General AssemblyFile No.28, HB 153, §101.01, eff. 9/29/2011.Effective Date: 01-01-2005 .4735.182 Fee instrument returned unpaid - additional fee - sanctions.If a check or other draft instrument used to pay any fee required under this chapter is returned to the superintendent unpaid by the financial institution upon which it is drawn for any reason, the superintendent shall notify the entity or person that the check or other draft instrument was returned for insufficient funds .(A) If the check or draft instrument was submitted by a licensee, the superintendent shall also notify the licensee that the licensee's license will be suspended unless the licensee, within fifteen days after the mailing of the notice, submits the fee and a one-hundred-dollar fee to the superintendent. If the licensee does not submit both fees within that time period, or if any check or other draft instrument used to pay either of those fees is returned to the superintendent unpaid by the financial institution upon which it is drawn for any reason, the license shall be suspended immediately without a hearing and the licensee shall cease activity as a licensee under this chapter.(B) If the check or draft instrument was remitted by a person or entity applying to qualify foreign real estate or renew a property registration, the superintendent shall also notify the applicant that registration will be suspended, unless the applicant, within fifteen days after the mailing of the notice, submits the fee and a one-hundred-dollar fee to the superintendent. If the applicant does not submit both fees within that time period, or if any check or other draft instrument used to pay either of the fees is returned to the superintendent unpaid by the financial institution upon which it is drawn for any reason, the property registration shall be suspended immediately without a hearing and the applicant shall cease activity.(C) If the check or draft instrument was remitted by an applicant for licensure, that application shall automatically be rejected or approval withdrawn, unless the applicant, within fifteen days after the mailing of the notice, submits the fee and a one-hundred-dollar fee to the superintendent. If the applicant does not submit both fees within that time period, or if any check or other draft instrument used to pay either of those fees is returned to the superintendent unpaid by the financial institution upon which it is drawn for any reason, the application shall be denied or approval withdrawn.(D) If the check or draft instrument was remitted by an education course provider or course provider applicant, that application shall automatically be rejected or approval withdrawn, unless applicant, within fifteen days after the mailing of the notice, submits the fee and a one-hundred-dollar fee to the superintendent. If the applicant does not submit both fees within that time period, or if any check or other draft instrument used to pay either of those fees is returned to the superintendent unpaid by the financial institution upon which it is drawn for any reason, the application shall be denied or approval withdrawn.Amended by 129th General AssemblyFile No.28, HB 153, §101.01, eff. 9/29/2011.Effective Date: 11-05-2004 .4735.19 Records of commission.The Ohio real estate commission shall keep a record of its proceedings and, upon application of an interested party, or upon its own motion and notice to the interested parties, may hold a hearing to consider reversing, vacating, or modifying its own orders. An application shall be filed with the division within fifteen days after the mailing of the notice of the order of the commission to the interested parties . The commission may adopt rules in accordance with Chapter 119. of the Revised Code establishing the circumstances in which an interested party may request reconsideration.Any applicant or respondent dissatisfied with an order of the commission may appeal in accordance with Chapter 119. of the Revised Code.Amended by 129th General AssemblyFile No.28, HB 153, §101.01, eff. 9/29/2011.Effective Date: 01-04-1988 .4735.20 Commissions, fees, or other compensation.(A) Except as provided in divisions (B), (C), and (G) of this section, no licensed real estate broker or licensed foreign real estate dealer shall pay a commission, fee, or other compensation for performing any of the acts specified in section 4735.01 of the Revised Code to any person who is not a licensed real estate broker or a licensed real estate salesperson or to any person who is not a licensed foreign real estate dealer or a licensed foreign real estate salesperson.(B) A licensed real estate broker or licensed foreign real estate dealer may pay a commission to a licensed real estate broker or licensed foreign real estate dealer of another state or country and may receive a commission from a licensed real estate broker or licensed foreign real estate dealer of another state or country, but only when done in accordance with rules adopted by the Ohio real estate commission pursuant to section 4735.10 of the Revised Code.(C) A licensed real estate broker may pay all or part of a fee, commission, or other compensation earned by an affiliated licensee to a partnership, association, limited liability company, limited liability partnership, or corporation that is not licensed as a real estate broker on the condition that all of the following conditions are satisfied:(1) At least one of the partners, members, officers, or shareholders of the unlicensed partnership, association, limited liability company, limited liability partnership, or corporation holds a valid and active license issued under this chapter.(2) At least one of the partners, members, officers, or shareholders of the unlicensed partnership, association, limited liability company, limited liability partnership, or corporation is the affiliated licensee who earned the fee, commission, or other compensation.(3) The unlicensed partnership, association, limited liability company, limited liability partnership, or corporation does not engage in any of the acts specified in division (A) of section 4735.01 of the Revised Code.(4) The broker verifies that the affiliated licensee complies with divisions (C)(1) and (2) of this section and keeps a record of this verification for a period of three years after the date of verification.(5) The broker keeps a record of all of the following information for each transaction, for a period of three years after the date of the transaction:(a) The name of the affiliated licensee who earned the fee, commission, or other compensation;(b) The amount of the fee, commission, or other compensation that was earned;(c) The name of the unlicensed partnership, association, limited liability company, limited liability partnership, or corporation to which the broker paid the affiliated licensee's fee, commission, or other compensation.(D) Compliance with division (C) of this section does not relieve a broker described in that division of any obligations to supervise an affiliated licensee, or of any other requirements of this chapter or rules adopted pursuant to this chapter.(E) Compliance with division (C) of this section does not render a broker described in that division or an affiliated licensee exempt from sections 4735.051, 4735.18, and 4735.32 of the Revised Code, or immune from personal liability in a civil action against the broker or affiliated licensee for a violation of this chapter.(F) No broker shall pay a fee, commission, or other compensation that is due to an affiliated licensee to a third-party creditor of the affiliated licensee.(G) Any owner of any interest in foreign real estate may refer a prospective buyer to the person who sold the owner that foreign real estate with the expectation of receiving valuable consideration, if all of the following conditions are satisfied:(1) The person who sold the owner that foreign real estate is selling qualified foreign real estate pursuant to section 4735.25 of the Revised Code.(2) Any fee, commission, or other valuable consideration promised or collected during any period consisting of twelve consecutive months does not exceed one thousand dollars.(3) The owner does not engage in referring prospective buyers of foreign real estate pursuant to this section in the ordinary course of business or as a regular business practice.(4) The owner does not show the foreign real estate, discuss terms or conditions of purchasing the foreign real estate, or otherwise participate in negotiations with regard to the offering or sale of the foreign real estate.(5) If a foreign real estate transaction is consummated with a buyer who was referred by the owner to the person who sold the owner that foreign real estate, the occurrence of the referral shall be disclosed by the person who sold the owner that foreign real estate.(H) The suspension or revocation of a real estate broker's or foreign real estate dealer's license automatically shall suspend every real estate salesperson's or foreign real estate salesperson's license granted to any person by virtue of association with the broker or dealer whose license has been suspended or revoked, pending a change of broker or dealer and the issuance of a new license. Such new license shall be issued without charges, if granted during the same year in which the original license was granted.(I) A violation of this section is cause for imposing disciplinary sanctions in accordance with the proceedings specified in sections4735.051, 4735.18, and 4735.32 of the Revised Code.(J) For purposes of this section, "affiliated licensee" means a person who holds a valid and active license issued under this chapter and who is associated with the broker that is paying a fee, commission, or other compensation at the time that that fee, commission, or other compensation is earned.Cite as R.C. § 4735.20Amended by 129th General AssemblyFile No.28, HB 153, §101.01, eff. 9/29/2011.Effective Date: 04-05-2002 .4735.21 Right of action - limits on salespersons.No right of action shall accrue to any person, partnership, association, or corporation for the collection of compensation for the performance of the acts mentioned in section 4735.01 of the Revised Code, without alleging and proving that such person, partnership, association, or corporation was licensed as a real estate broker or foreign real estate dealer. Nothing contained in this section shall prevent a right of action from accruing after the expiration of a real estate or foreign real estate license if the act giving rise to the cause of action was performed by a licensee prior to such expiration.No real estate salesperson or foreign real estate salesperson shall collect any money in connection with any real estate or foreign real estate brokerage transaction, whether as a commission, deposit, payment, rental, or otherwise, except in the name of and with the consent of the licensed real estate broker or licensed foreign real estate dealer under whom the salesperson is licensed at the time the sales person earned the commission. Nor shall any real estate salesperson or foreign real estate salesperson commence or maintain any action for a commission or other compensation in connection with a real estate or foreign real estate brokerage transaction, against any person except a person licensed as a real estate broker or foreign real estate dealer under whom the salesperson is licensed as a salesperson at the time the cause of action arose.A salesperson licensed under this chapter shall not sell, assign, or otherwise transfer the salesperson's interest in a commission or any portion thereof to an unlicensed person or entity. If a salesperson makes such assignment or transfer, the broker shall not pay the transferee or assignee any portion of the commission. No cause of action shall arise on behalf of any person against a broker for not paying an assignee or transferee any portion of such an assignment or transfer.Cite as R.C. § 4735.21Amended by 129th General AssemblyFile No.28, HB 153, §101.01, eff. 9/29/2011.Effective Date: 09-11-1985 .4735.211 Division of real estate operating fund.All fines imposed under section 4735.051 of the Revised Code, and all fees and charges collected under sections 4735.06, 4735.09,4735.13, 4735.15, 4735.25, 4735.27, 4735.28, and 4735.29 of the Revised Code, except such fees as are paid to the real estate education and research fund and real estate recovery fund as provided in this chapter, shall be paid into the state treasury to the credit of the division of real estate operating fund, which is hereby created. All operating expenses of the division of real estate shall be paid from the division of real estate operating fund.The division of real estate operating fund shall be assessed a proportionate share of the administrative costs of the department of commerce in accordance with procedures prescribed by the director of commerce and approved by the director of budget and management. Such assessments shall be paid from the division of real estate operating fund to the division of administration fund.If funds in the division of real estate operating fund are determined by the director of commerce to be in excess of those necessary to fund all the expenses of the division in any biennium, the director may pay the excess funds to the real estate education and research fund.Cite as R.C. § 4735.211Amended by 129th General AssemblyFile No.28, HB 153, §101.01, eff. 9/29/2011.Effective Date: 06-13-1996 .4735.22 [Repealed].Repealed by 128th General AssemblyFile No.9, HB 1, §105.01, eff. 10/16/2009. .4735.23 Review of programs.At the request of the superintendent of real estate, the department of higher education may, in consultation with the division of real estate, perform a review of programs offered by an institution of higher education pursuant to division (B)(6)(a) or (b) of section4735.07 and division (F)(6) of section 4735.09 of the Revised Code. The superintendent or the chancellor of higher education may request from the institution any information the superintendent or chancellor considers necessary to perform this review.Cite as R.C. § 4735.23Added by 131st General Assembly File No. TBD, HB 532, §1, eff. 4/6/2017.4735.24 Earnest money to be maintained in special account.(A) Except as otherwise provided in this section, when earnest money connected to a real estate purchase agreement is deposited in a real estate broker's trust or special account, the broker shall maintain that money in the account in accordance with the terms of the purchase agreement until one of the following occurs:(1) The transaction closes and the broker disburses the earnest money to the closing or escrow agent or otherwise disburses the money pursuant to the terms of the purchase agreement.(2) The parties provide the broker with separate written instructions that both parties have signed that specify how the broker is to disburse the earnest money and the broker acts pursuant to those instructions.(3) The broker receives a copy of a final court order that specifies to whom the earnest money is to be awarded and the broker acts pursuant to the court order.(4) The earnest money becomes unclaimed funds as defined in division (M)(2) of section 169.02 of the Revised Code and, after providing the notice that division (D) of section 169.03 of the Revised Code requires, the broker has reported the unclaimed funds to the director of commerce pursuant to section 169.03 of the Revised Code and has remitted all of the earnest money to the director.(B) A purchase agreement may provide that in the event of a dispute regarding the disbursement of the earnest money, the broker will return the money to the purchaser without notice to the parties unless, within two years from the date the earnest money was deposited in the broker's trust or special account, the broker has received one of the following:(1) Written instructions signed by both parties specifying how the money is to be disbursed;(2) Written notice that a court action to resolve the dispute has been filed.(C)(1) If the parties dispute the disbursement of the earnest money and the purchase agreement contains the provision described in division (B) of this section, not later than the first day of September following the two year anniversary date of the deposit of the earnest money in the broker's account, the broker shall return the earnest money to the purchaser unless the parties provided the broker with written instructions or a notice of a court action as described in division (B) of this section.(2) If the broker cannot locate the purchaser at the time the disbursement is due, after providing the notice that division (D) of section 169.03 of the Revised Code requires, the broker shall report the earnest money as unclaimed funds to the director of commerce pursuant to section 169.03 of the Revised Code and remit all of the earnest money to the director.Cite as R.C. § 4735.24Amended by 131st General Assembly File No. TBD, HB 532, §1, eff. 4/6/2017.Effective Date: 2008 HB130 04-07-2009 .4735.25 Dealing in foreign real estate.(A)(1) No person, other than an actual bona fide owner selling for the owner's own account in a single transaction and not by way of repeated or successive transactions, or a person excepted from obtaining a license under section 4735.01 of the Revised Code, shall sell, lease, or otherwise deal in this state in any foreign real estate unless the person has qualified the foreign real estate pursuant to this section and unless one of the following applies:(a) The person was licensed under section 1707.15 or 1707.16 prior to October 14, 1969;(b) The person was licensed as a foreign real estate dealer or salesperson under former section 1707.331 of the Revised Code prior to the effective date of this section, but only until the expiration date of the license;(c) The person is licensed under section 4735.27 or 4735.28 of the Revised Code.(2) A licensed foreign real estate dealer or licensed foreign real estate salesperson who is acting in a fiduciary capacity for a bona fide owner of foreign real estate in the sale or lease of that real estate, or who is otherwise dealing in foreign real estate in a fiduciary capacity for its bona fide owner, in a single transaction and not by way of repeated or successive transactions for that owner, need not qualify such real estate under this section.(B) Any person, other than one of the excepted persons under division (A) of this section, desiring to sell, lease, or otherwise deal in any foreign real estate shall file an application with the superintendent of real estate in the form the superintendent prescribes, which application shall set forth the following:(1) An exact description of the foreign real estate sought to be sold, leased, or dealt in;(2) A map or plat prepared by a competent surveyor showing the boundaries and dimensions of the foreign real estate and all lots or subdivisions of it;(3) The names of the owners of the foreign real estate, with a detailed statement showing the financial responsibility of each owner, together with the post office address of each, including street numbers or another pertinent description; and if any such owner is a corporation or association, a copy of its articles or certificate of incorporation or of the agreement by which it was created, unless a copy is already on file in the office of the secretary of state, together with proof that it is qualified to do business in this state, if it is a foreign corporation;(4) A list and description of all liens and encumbrances on the foreign real estate;(5) A full description of all improvements or developments of every nature to be made or promised to be made on the foreign real estate, the cost of the improvements or developments, and the security, if any, for their completion;(6) A copy of any building restrictions or other restrictions upon the use of the foreign real estate;(7) A copy, description, or plan showing the form of contract, method, and terms of sale, lease, or other dealing to be used in connection with the foreign real estate;(8) A list or schedule of all sales prices of the foreign real estate;(9) A list or schedule of all commissions, allowances, or compensations in any form that have been arranged or agreed to be paid to the applicant, and to any dealers or salespersons, by the owner or by any person interested in the foreign real estate;(10) Other information that the superintendent requires.(C) All the statements, exhibits, and documents required by the superintendent under this section, except properly certified public documents, shall be verified by the oath of the applicant or of any person having knowledge of the facts, and in such manner and form as required by the superintendent. Failure to comply with the requests of the superintendent in this regard shall be a sufficient reason for a refusal by the superintendent to qualify the foreign real estate.(D) Upon filing the application, the applicant shall pay to the superintendent a filing fee of five hundred dollars plus an additional one dollar for each lot, unit, parcel, or interest included in the offering, with the aggregate fee not to exceed two thousand five hundred dollars, and shall deposit with the superintendent a sum the superintendent may require for the purpose of defraying the cost of verifying the statements of the applicant, or for the purpose of determining that the provisions of this chapter have been and will be complied with and that the foreign real estate will not be sold, leased, or dealt in within this state on grossly unfair terms, or in a method or on terms that might defraud or deceive purchasers in this state.(E) The superintendent or the superintendent's designee employed by the department of commerce, may inspect and examine the foreign real estate or investigate the applicant or the persons interested in, dealing in, or selling, the foreign real estate. The actual cost of the inspection or examination, including the proper proportion of the salaries of employees of the division of real estate who conduct it, shall be paid by the applicant and may be retained by the superintendent out of any deposit. An itemized statement of such cost shall be furnished to the applicant.(F) In order either to prevent fraud in the sale of foreign real estate or to provide security for the performance of agreements to make improvements on it, the superintendent may require all payments for the foreign real estate to be made to a bank in this state, and to be impounded in that bank and held in escrow upon the terms the superintendent reasonably requires.(G) If the superintendent is of the opinion that the proposed sale, lease, or disposal is not on grossly unfair terms, that the provisions of this chapter have been complied with, and that the foreign real estate will not be sold, leased, or dealt in, in a method or on terms that might defraud or deceive persons in this state, the superintendent shall allow the qualification of the foreign real estate for sale, lease, or other disposition on the terms stated in the application or on other terms, calculated to prevent fraud or deception, the superintendent approves.Cite as R.C. § 4735.25Effective Date: 09-22-2000 .4735.26 Refusing to qualify foreign real estate.(A) If the superintendent of real estate has refused to qualify any foreign real estate under section 4735.25 of the Revised Code, or has suspended or revoked the qualification of any foreign real estate, the aggrieved party may appeal in accordance with Chapter 119. of the Revised Code.(B) An order sustaining the refusal of the superintendent to qualify any foreign real estate, or sustaining the superintendent in suspending or revoking the qualification of any foreign real estate shall not bar, after ten days from the order, a new application by the plaintiff for qualification or for a withdrawal of the revocation or suspension. An order in favor of the plaintiff shall not prevent the superintendent, after proper notice and hearing, from subsequently revoking or suspending the qualification for any proper cause which may accrue or be discovered after the order.Cite as R.C. § 4735.26Effective Date: 09-11-1985 .4735.27 Foreign real estate dealer's license.(A) An application to act as a foreign real estate dealer shall be in writing and filed with the superintendent of real estate. It shall be in the form the superintendent prescribes and shall contain the following information:(1) The name and address of the applicant;(2) A description of the applicant, including, if the applicant is a partnership, unincorporated association, or any similar form of business organization, the names and the residence and business addresses of all partners, officers, directors, trustees, or managers of the organization, and the limitation of the liability of any partner or member; and if the applicant is a corporation, a list of its officers and directors, and the residence and business addresses of each, and, if it is a foreign corporation, a copy of its articles of incorporation in addition;(3) The location and addresses of the principal office and all other offices of the applicant;(4) A general description of the business of the applicant prior to the application, including a list of states in which the applicant is a licensed foreign real estate dealer;(5) The names and addresses of all salesmen of the applicant at the date of the application;(6) The nature of the business of the applicant, and its places of business, for the ten-year period preceding the date of application.(B) Every nonresident applicant shall name a person within this state upon whom process against the applicant may be served and shall give the complete residence and business address of the person designated. Every applicant shall file an irrevocable written consent, executed and acknowledged by an individual duly authorized to give such consent, that actions growing out of a fraud committed by the applicant in connection with the sale in this state of foreign real estate may be commenced against it, in the proper court of any county in this state in which a cause of action for such fraud may arise or in which the plaintiff in such action may reside, by serving on the secretary of state any proper process or pleading authorized by the laws of this state, in the event that the applicant if a resident of this state, or the person designated by the nonresident applicant, cannot be found at the address given. The consent shall stipulate that the service of process on the secretary of state shall be taken in all courts to be as valid and binding as if service had been made upon the foreign real estate dealer. If the applicant is a corporation or an unincorporated association, the consent shall be accompanied by a certified copy of the resolution of the board of directors, trustees, or managers of the corporation or association, authorizing such individual to execute the consent.(C) The superintendent may investigate any applicant for a dealer's license, and may require any additional information he considers necessary to determine the business repute and qualifications of the applicant to act as a foreign real estate dealer. If the application for a dealer's license involves investigation outside this state, the superintendent may require the applicant to advance sufficient funds to pay any of the actual expenses of the investigation, and an itemized statement of such expense shall be furnished to the applicant.(D) Every applicant shall take a written examination, prescribed and conducted by the superintendent, which covers his knowledge of the principles of real estate practice, real estate law, financing and appraisal, real estate transactions and instruments relating to them, canons of business ethics relating to real estate transactions, and the duties of foreign real estate dealers and salesmen. The fee for the examination, when administered by the superintendent, is seventy-five dollars. If the applicant does not appear for the examination, the fee shall be forfeited and a new application and fee shall be filed, unless good cause for the failure to appear is shown to the superintendent. The requirement of an examination may be waived in whole or in part by the superintendent if an applicant is licensed as a real estate broker by any state. Any applicant who fails the examination twice shall wait six months before applying to retake the examination.(E) No person shall take the foreign real estate dealer's examination who has not established to the satisfaction of the superintendent that he:(1) Has not been convicted of a felony or a crime of moral turpitude or, if he has been so convicted, the superintendent has disregarded the conviction because the applicant has proven to the superintendent, by a preponderance of the evidence, that his activities and employment record since the conviction show that he is honest, truthful, and of good reputation, and there is no basis in fact for believing that he again will violate the laws involved;(2) Has not been finally adjudged by a court to have violated any municipal, state, or federal civil rights laws relevant to the protection of purchasers or sellers of real estate or, if he has been so adjudged, at least two years have passed since the court decision and the superintendent has disregarded the adjudication because the applicant has proven, by a preponderance of the evidence, that his activities and employment record since the adjudication show that he is honest, truthful, and of good reputation, and there is no basis in fact for believing that he again will violate the laws involved;(3) Has not, during any period for which he was licensed under this chapter or any former section of the Revised Code applicable to licensed foreign real estate dealers or salesmen, violated any provision of, or any rule adopted pursuant to, this chapter or that section, or, if he has violated any such provision or rule, has established to the satisfaction of the superintendent that he will not again violate the provision or rule.(F) If the superintendent finds that an applicant for a license as a foreign real estate dealer, or each named member, manager, or officer of a partnership, association, or corporate applicant is at least eighteen years of age, is of good business repute, has passed the examination required under this section or has had the requirement of an examination waived, and appears otherwise qualified, the superintendent shall issue a license to the applicant to engage in business in this state as a foreign real estate dealer. Dealers licensed pursuant to this section shall employ as salesmen of foreign real estate only persons licensed pursuant to section 4735.28 of the Revised Code. If at any time such salesmen resign or are discharged or new salesmen are added, the dealer forthwith shall notify the superintendent and shall file with the division of real estate the names and addresses of new salesmen.(G) If the applicant merely is renewing his license for the previous year, the application need contain only the information required by divisions (A)(2), (3), and (6) of this section.Cite as R.C. § 4735.27Effective Date: 01-04-1988 .4735.28 Foreign real estate salesman's license.(A) An application to act as a foreign real estate salesman shall be in writing and filed with the superintendent of real estate. It shall be in the form the superintendent prescribes and shall contain the following information:(1) The name and complete residence and business addresses of the applicant;(2) The name of the foreign real estate dealer who is employing the applicant or who intends to employ him;(3) The age and education of the applicant, and his experience in the sale of foreign real estate; whether he has ever been licensed by the superintendent, and if so, when; whether he has ever been refused a license by the superintendent; and whether he has ever been licensed or refused a license or any similar permit by any division or superintendent of real estate, by whatsoever name known or designated, anywhere;(4) The nature of the employment, and the names and addresses of the employers, of the applicant for the period of ten years immediately preceding the date of the application.(B) Every applicant shall take a written examination, prescribed and conducted by the superintendent, which covers his knowledge of the principles of real estate practice, real estate law, financing and appraisal, real estate transactions and instruments relating to them, canons of business ethics relating to real estate transactions, and the duties of foreign real estate salesmen. The fee for the examination, when administered by the superintendent, is fifty dollars. If the applicant does not appear for the examination, the fee shall be forfeited and a new application and fee shall be filed, unless good cause for the failure to appear is shown to the superintendent. The requirement of an examination may be waived in whole or in part by the superintendent if an applicant is licensed as a real estate broker or salesman by any state. Any applicant who fails the examination twice shall wait six months before applying to retake the examination.(C) No person shall take the foreign real estate salesman's examination who has not established to the satisfaction of the superintendent that he:(1) Has not been convicted of a felony or a crime of moral turpitude or, if he has been so convicted, the superintendent has disregarded the conviction because the applicant has proven to the superintendent, by a preponderance of the evidence, that his activities and employment record since the conviction show that he is honest, truthful, and of good reputation, and there is no basis in fact for believing that he again will violate the laws involved;(2) Has not been finally adjudged by a court to have violated any municipal, state, or federal civil rights laws relevant to the protection of purchasers or sellers of real estate or, if he has been so adjudged, at least two years have passed since the court decision and the superintendent has disregarded the adjudication because the applicant has proven, by a preponderance of the evidence, that his activities and employment record since the adjudication show that he is honest, truthful, and of good reputation, and there is no basis in fact for believing that he will again violate the laws;(3) Has not, during any period for which he was licensed under this chapter or any former section of the Revised Code applicable to licensed foreign real estate dealers or salesmen, violated any provision of, or any rule adopted pursuant to, this chapter or that section, or, if he has violated any such provision or rule, has established to the satisfaction of the superintendent that he will not again violate the provision or rule.(D) Every salesman of foreign real estate shall be licensed by the superintendent of real estate and shall be employed only by the licensed foreign real estate dealer specified on his license.(E) If the superintendent finds that the applicant is of good business repute, appears to be qualified to act as a foreign real estate salesman, and has fully complied with the provisions of this chapter, and that the dealer in the application is a licensed foreign real estate dealer, the superintendent, upon payment of the fees prescribed by section 4735.15 of the Revised Code, shall issue a license to the applicant authorizing him to act as salesman for the dealer named in the application.Cite as R.C. § 4735.28Effective Date: 01-04-1988 .4735.29 Renewals.The license of every foreign real estate dealer and salesman shall expire on the thirty-first day of December of each year, and may be renewed upon the filing with the superintendent of real estate of an application for renewal, and the payment of the fee prescribed in section 4735.15 of the Revised Code, not less than fifteen or more than sixty days before the expiration of the old license. The superintendent may accept an application for renewal less than fifteen days before the expiration of any calendar year. He shall give notice, without unreasonable delay, of his action on any application for renewal of a foreign real estate dealer's or salesman's license. A foreign real estate dealer's license may be issued at any time for the remainder of the calendar year. In such event, the annual fee prescribed in section 4735.15 of the Revised Code shall not be reduced.Cite as R.C. § 4735.29Effective Date: 09-11-1985 .4735.30 False representations of material or relevant facts.No person shall knowingly make or cause to be made any false representation concerning a material and relevant fact, in any oral statement or in any description, application, or written statement, for the purpose of securing the qualification of any foreign real estate under section 4735.25 of the Revised Code.Cite as R.C. § 4735.30Effective Date: 09-11-1985 .4735.32 Investigations.(A)(1) The Ohio real estate commission or the superintendent of real estate may commence, at any time within three years from the date on which an alleged violation of a provision of this or another chapter of the Revised Code occurred, any investigation that relates to the conduct of a licensed real estate broker, real estate salesperson, foreign real estate dealer, or foreign real estate salesperson, that is authorized pursuant to section 1349.11, 4735.051, 4735.052, or 4735.18, or any other section of the Revised Code, and that is for purposes of determining whether a licensee, unlicensed person, or unlicensed entity has violated a provision of this or another chapter of the Revised Code and whether, as a consequence, a licensee's license should be suspended or revoked, or other disciplinary action taken, as provided in this or another chapter of the Revised Code. If such an investigation is not commenced within the three-year period, it shall be barred, and neither the commission nor the superintendent shall suspend or revoke the license of any licensee, or take other disciplinary action against any licensee, unlicensed person, or unlicensed entity because of the alleged violation of a provision of this or another chapter of the Revised Code that could have been the subject of the barred investigation.(2) For purposes of division (A)(1) of this section, if an investigation that is authorized by section 4735.051 of the Revised Code is involved, it shall be considered to be commenced as of the date on which a person files the complaint with the division of real estate .(B) This section does not affect any criminal or civil liability that a licensed real estate broker, real estate salesperson, foreign real estate dealer, or foreign real estate salesperson, or any unlicensed person, may have under this or another chapter of the Revised Code or under the common law of this state.Cite as R.C. § 4735.32Amended by 129th General AssemblyFile No.28, HB 153, §101.01, eff. 9/29/2011.Effective Date: 10-20-1999 .4735.33 Effect of child support default on license.On receipt of a notice pursuant to section 3123.43 of the Revised Code, the superintendent of real estate shall comply with sections3123.41 to 3123.50 of the Revised Code and any applicable rules adopted under section 3123.63 of the Revised Code with respect to a license issued pursuant to this chapter.Cite as R.C. § 4735.33Effective Date: 03-22-2001 .4735.51 Agency relationship - disclosure definitions.As used in sections 4735.51 to 4735.74 of the Revised Code:(A) "Agency" and " agency relationship" mean a relationship in which a licensee represents another person in a real estate transaction.(B) "Agency agreement" means a contract between a licensee and a client in which the client promises to pay the broker a valuable consideration, or agrees that the licensee may receive a valuable consideration from another, for performing an act that requires a real estate license under this chapter.(C) "Agent" and "real estate agent" mean a person licensed by this chapter to represent another in a real estate transaction.(D) "Affiliated licensee" means a real estate broker or a real estate salesperson licensed by this chapter who is affiliated with a brokerage.(E)"Client" means a person who has entered into an agency relationship with a licensee.(F) "Confidential information" means all information that a client directs to be kept confidential or that if disclosed would have an adverse effect on the client's position in the real estate transaction, except to the extent the agent is required by law to disclose such information, and all information that is required by law to be kept confidential.(G) "Contemporaneous offers" means offers to purchase or lease on behalf of two or more clients represented by the same licensee for the same property that the licensee knows, has known, or has reason to know will be taken under consideration by the owner or owner's authorized representative during the same period of time.(H) "Dual agency relationship" means any of the dual agency relationships set forth in section 4735.70 of the Revised Code.(I) "In-company transaction" means a real estate transaction in which the purchaser and seller are both represented by the same brokerage.(J)"Purchaser" means a party in a real estate transaction who is the potential transferee of property. "Purchaser" includes a person seeking to buy property and a person seeking to rent property as a tenant or lessee.(K) "Real estate transaction" means any act that is described in division (A) of section 4735.01 of the Revised Code or that is related to the execution of an act described in that section.(L) "Subagency" and "subagency relationship" mean an agency relationship in which a licensee acts for another licensee in performing duties for the client of that licensee.(M) "Timely" means as soon as possible under the particular circumstances.Cite as R.C. § 4735.51Amended by 131st General Assembly File No. TBD, HB 532, §1, eff. 4/6/2017.Effective Date: 12-13-1996; 10-12-2006 .4735.52 Scope of chapter.The types of agency relationships permitted in a real estate transaction are determined by the provisions of this chapter. Except to the extent the duties of a real estate agent are specifically set forth in this chapter, or are otherwise modified by agreement, the duties of a real estate agent are determined by the common law.Effective Date: 12-13-1996 .4735.53 Agency relationships permitted.(A) The types of agency relationships a licensee may establish in a real estate transaction are limited to the following:(1) An agency relationship between the licensee and the seller;(2) An agency relationship between the licensee and the purchaser;(3) A dual agency relationship between the licensee and both the seller and the purchaser;(4) A subagency relationship between the licensee and the client of another licensee.(B) When an agency relationship is formed between a licensee and a client, all of the following also are considered the agent of that client:(1) The brokerage with whom the licensee is affiliated and, except as provided in division (C) of section 4735.70 of the Revised Code, the management level licensees in that brokerage who have direct supervisory duties over licensees ;(2) Any licensee employed by, or affiliated with, the brokerage who receives confidential information from the agent of the client ;(3) Any other licensee in the brokerage who assisted in establishing the agency relationship;(4) Any licensee in the brokerage who specifically is appointed with the client's consent to represent that client.(C) Except as otherwise provided in divisions (B)(1) to (4) of this section, another licensee who is affiliated with the same brokerage as the licensee is not an agent of that client .(D) A payment or the promise of a payment to a licensee does not determine whether an agency relationship has been created between a licensee and a client or between other licensees in the brokerage with which the licensee is affiliated and that client.Cite as R.C. § 4735.53Effective Date: 12-13-1996; 01-01-2005 .4735.54 Written company policy for types of agency relationships for brokerage.Each brokerage shall develop and maintain a written company policy that sets forth the types of agency relationships that members of that brokerage may establish. The policy shall include provisions on whether any dual agency relationships set forth in section4735.70 of the Revised Code are permitted. The policy shall also set forth procedures to ensure the protection of confidential information, and to ensure that the confidentiality provision extends to affiliated licensees of the brokerage. The policy developed and maintained under this section shall comply with the minimum standards established by rule by the superintendent of real estate with the approval of the Ohio real estate commission. The development and maintenance of a policy under this section shall not relieve a brokerage from liability for the failure of the brokerage, any licensee of the brokerage, or any employee of the brokerage, to maintain the confidentiality of confidential information of a client. The brokerage shall provide a copy of its policy developed and maintained under this section to each client or prospective client upon request.Cite as R.C. § 4735.54Effective Date: 12-13-1996 .4735.55 Written agency agreements.(A) Each written agency agreement shall contain all of the following:(1) An expiration date;(2) A statement that it is illegal, pursuant to the Ohio fair housing law, division (H) of section 4112.02 of the Revised Code, and the federal fair housing law, 42 U.S.C.A. 3601, as amended, to refuse to sell, transfer, assign, rent, lease, sublease, or finance housing accommodations, refuse to negotiate for the sale or rental of housing accommodations, or otherwise deny or make unavailable housing accommodations because of race, color, religion, sex, familial status as defined in section 4112.01 of the Revised Code, ancestry, military status as defined in that section, disability as defined in that section, or national origin or to so discriminate in advertising the sale or rental of housing, in the financing of housing, or in the provision of real estate brokerage services;(3) A statement defining the practice known as "blockbusting" and stating that it is illegal;(4) A copy of the United States department of housing and urban development equal housing opportunity logotype, as set forth in 24 C.F.R. 109.30, as amended.(B) Each written agency agreement shall contain a place for the licensee and the client to sign and date the agreement.(C) A licensee shall furnish a copy of any written agency agreement to a client in a timely manner after the licensee and the client have signed and dated it.Cite as R.C. § 4735.55Amended by 129th General AssemblyFile No.28, HB 153, §101.01, eff. 9/29/2011.Effective Date: 03-17-2000; 2007 HB372 03-24-20084735.56 Written brokerage policy on agency required - disclosure to client.(A) Each brokerage shall develop a written brokerage policy on agency to be given to prospective sellers and purchasers in accordance with divisions (C) and (D) of this section.(B) The brokerage policy on agency described in division (A) of this section shall include all of the following information:(1) An explanation of the permissible agency relationships available under section 4735.53 of the Revised Code and the duties that the agent owes the agent's client;(2) The brokerage's policy on representation of purchasers or sellers;(3) Whether at some time during the agency relationship the brokerage and its licensee may act as a dual agent, and the options and consequences for the client if a dual agency situation arises including the right of the client to terminate the agency relationship and seek representation from another source;(4) Whether at some time during the agency relationship, another licensee affiliated with the same brokerage as the licensee may become the exclusive agent for the other party in the transaction and whether each licensee will represent only the interests of that licensee's client;(5) The brokerage's policy on cooperation with other brokerages, including whether the brokerage offers compensation to other brokerages or will seek compensation from other brokerages;(6) That a brokerage that has a purchaser as a client represents the purchaser's interests even though the seller's agent or the seller may compensate that purchaser's brokerage;(7) That the signature of the purchaser or the seller indicates acknowledgement of receipt of the brokerage policy on agency.(C) A licensee acting as a seller's agent shall provide the seller with the brokerage policy on agency described in this section prior to marketing or showing the seller's real estate and shall obtain a signature from the seller acknowledging receipt unless the seller refuses to provide a signature. If the seller refuses to provide a signature, the licensee shall note this on the policy.(D) A licensee working directly with a purchaser in a real estate transaction, whether as the purchaser's agent, the seller's agent, or the seller's subagent, shall provide the purchaser with the brokerage policy on agency described in this section and obtain a signature from the purchaser acknowledging receipt of the policy unless the purchaser refuses to provide a signature. If the purchaser refuses to provide a signature, the licensee shall note this on the policy. Except as provided in division (E) of this section, the licensee shall provide the brokerage policy on agency to a purchaser prior to the earliest of the following actions of the licensee:(1) Initiating a prequalification evaluation to determine whether the purchaser has the financial ability to purchase or lease a particular real estate property;(2) Requesting specific financial information from the purchaser to determine the purchaser's ability to purchase or finance real estate in a particular price range;(3) Showing the real estate to the purchaser other than at an open house;(4) Discussing, with the purchaser, the making of an offer to purchase or lease real estate;(5) Submitting an offer to purchase or lease real estate on behalf of the purchaser.(E) If the earliest event described in division (D) of this section is by telephone or electronic mail, the licensee shall disclose by that same medium the nature of the agency relationship that the licensee has with both the seller and the purchaser. The licensee shall provide the purchaser with the brokerage policy on agency described in this section at the first meeting with the purchaser following this disclosure of the agency relationship.(F) A licensee acting as a seller's agent is not required to provide a purchaser with the brokerage policy on agency described in this section except in the case of an event described in division (D) of this section.(G) The requirements of this section regarding provision of a brokerage policy on agency apply only in the following situations:(1) The sale or lease of vacant land;(2) The sale of a parcel of real estate containing one to four residential units;(3) The leasing of residential premises as defined in section 5321.01 of the Revised Code, if the rental or lease agreement is for a term of more than eighteen months.Amended by 130th General Assembly File No. 25, HB 59, §101.01, eff. 9/29/2013.Effective Date: 01-01-2005 .4735.57 Agency disclosure statement - dual agency disclosure.(A) The superintendent of real estate, with the approval of the Ohio real estate commission, shall establish by rule an agency disclosure statement. The agency disclosure statement shall contain a place for the licensee and the parties to the transaction to sign and date the statement and shall contain sections for the disclosure or explanation of all of the following:(1) Unless confidential, the names of all the parties in the transaction;(2) The address of the real estate being sold or leased;(3) The name of the licensee or licensees and the brokerage with which each licensee is affiliated;(4) The party that each licensee in the named brokerage represents in the transaction;(5) If a licensee representing a purchaser of real estate and a licensee representing the seller of that real estate are affiliated with the same brokerage, whether the two licensees are acting as dual agents or are individually representing the purchaser and seller separately;(6) If only one licensee is involved in the transaction, whether that licensee is a dual agent or represents only one party to the transaction;(7) If both the purchaser and the seller are represented by licensees affiliated with the same brokerage, that the brokerage is a dual agent;(8) That the signature of the client indicates the client's informed consent to the agency relationship and that if the client does not understand the agency disclosure statement, the client should consult an attorney.(B) The agency disclosure statement shall specify the duties of a licensee acting as a dual agent and shall contain sections disclosing all of the following:(1) An explanation of the nature of a dual agency relationship, including a statement that in serving as a dual agent, licensees in the brokerage represent two clients whose interests are, or at times could be, different or adverse;(2) That as a result of the dual agency relationship, the dual agent may not be able to advocate on behalf of the client to the same extent the agent may have if the agent represented only one client;(3) A description of the duties the brokerage and its affiliated licensees and employees owe to each client, including the duty of confidentiality;(4) That neither the brokerage nor its affiliated licensees have any material relationship with either client other than incidental to the transaction, or if the brokerage or its affiliated licensees have a material relationship, a disclosure of the nature of the relationship. For purposes of this division, "material relationship" means any actually known personal, familial, or business relationship between the brokerage or an affiliated licensee and a client that could impair the ability of the brokerage or affiliated licensee to exercise lawful and independent judgment relative to another client.(5) That as a dual agent, the brokerage cannot engage in conduct that is contrary to the interests or instructions of one party or act in a biased manner on behalf of one party;(6) A section specifying the source of compensation to the real estate broker;(7) That the client does not have to consent to the dual agency relationship, and the options available to the client for representation in the transaction if the client does not consent, including the right of the client to terminate the agency relationship and seek representation from another source;(8) That the consent to the dual agency relationship by the client has been given voluntarily, that the signature indicates informed consent, and that the duties of a licensee acting as a dual agent disclosed to the client pursuant to division (B) of this section have been read and understood.Effective Date: 01-01-2005 .4735.58 When disclosure statements to be provided.(A)(1) A licensee who is a purchaser's agent or a seller's subagent working with a purchaser shall present the agency disclosure statement described in section 4735.57 of the Revised Code to the purchaser and request the purchaser to sign and date the statement no later than the preparation of an offer to purchase or lease, or a written request for a proposal to lease. The licensee shall deliver the statement signed by the purchaser to the seller's agent, or to the seller if the seller is not represented by an agent. Prior to presenting the seller with either a written offer to purchase or lease, or a written request for a proposal to lease, the seller's agent, or the purchaser's agent if the seller is not represented by an agent, shall present the agency disclosure statement to the seller and request the seller to sign and date the statement.(2) A licensee shall indicate the accurate agency relationship on the agency disclosure statement.(B) A licensee selling property at auction shall, prior to the auction, verbally disclose to the audience that the licensee represents the seller in the real estate transaction. The licensee shall provide the agency disclosure statement described in section 4735.57 of the Revised Code to the successful bidder prior to the bidder's signing a purchase contract.(C) Evidence that a licensee has failed to comply with this section constitutes prima-facie evidence of misconduct in violation of division (A)(6) of section 4735.18 of the Revised Code.(D) The disclosure requirements of this section do not apply in any of the following situations:(1) The rental or leasing of residential premises as defined in section 5321.01 of the Revised Code, if the rental or lease agreement can be performed in eighteen months or less;(2) The referral of a prospective purchaser or seller to another licensee;(3) Transactions involving the sale, lease, or exchange of foreign real estate as defined in division (E) of section 4735.01 of the Revised Code;(4) Transactions involving the sale of a cemetery lot or a cemetery interment right.(E) The licensee is obligated to perform all duties imposed on a real estate agent at common law except to the extent the duties are inconsistent with the duties prescribed in this chapter or are otherwise modified by agreement.Cite as R.C. § 4735.58Amended by 129th General AssemblyFile No.28, HB 153, §101.01, eff. 9/29/2011.Effective Date: 12-13-1996 .4735.59 Changing the party a licensee represents.To change the party a licensee represents in a real estate transaction after an agency disclosure statement has been signed and dated or following verbal disclosure of the agency relationship, the licensee shall obtain written consent from the party originally represented to represent another party in the transaction. The licensee shall promptly notify all persons who had been notified of the original relationship.The Ohio real estate commission may adopt rules in accordance with Chapter 119. of the Revised Code to provide for required disclosures when a licensee terminates an agency relationship and becomes a principal in the transaction.Amended by 129th General AssemblyFile No.28, HB 153, §101.01, eff. 9/29/2011.Effective Date: 12-13-1996 .4735.60 Licensee representing purchaser disclosures.A licensee representing a purchaser shall do the following:(A) Disclose to the licensee representing the seller, or if the seller is not represented, disclose to the seller, that the licensee represents the purchaser in the transaction. This disclosure shall take place during the first contact the licensee has with any employee or licensee of the brokerage with which the seller's agent is affiliated, or if the seller is not represented by a licensee, during the first contact with the seller.(B) If the seller is not represented by a licensee, verbally disclose during the first contact with the seller, any intention of seeking compensation from the seller.Effective Date: 12-13-1996 .4735.61 Prohibiting false information.No licensee shall knowingly give false information to any party in a real estate transaction.Effective Date: 12-13-1996 .4735.62 Fiduciary duties generally.In representing any client in an agency or subagency relationship, the licensee shall be a fiduciary of the client and shall use the licensee's best efforts to further the interest of the client including, but not limited to, doing all of the following:(A) Exercising reasonable skill and care in representing the client and carrying out the responsibilities of the agency relationship;(B) Performing the terms of any written agency agreement;(C) Following any lawful instructions of the client;(D) Performing all duties specified in this chapter in a manner that is loyal to the interest of the client;(E) Complying with all requirements of this chapter and other applicable statutes, rules, and regulations, including the Ohio fair housing law, division (H) of section 4112.02 of the Revised Code, and the federal fair housing law, 42 U.S.C.A. 3601, as amended;(F) Disclosing to the client any material facts of the transaction of which the licensee is aware or should be aware in the exercise of reasonable skill and care and that are not confidential information pursuant to a current or prior agency or dual agency relationship;(G) Advising the client to obtain expert advice related to material matters when necessary or appropriate;(H) Accounting in a timely manner for all moneys and property received in which the client has or may have an interest;(I) Keeping confidential all confidential information, unless the licensee is permitted to disclose the information pursuant to division (B) of section 4735.74 of the Revised Code. This requirement includes not disclosing confidential information to any licensee who is not an agent of the client.Cite as R.C. § 4735.62Amended by 129th General AssemblyFile No.28, HB 153, §101.01, eff. 9/29/2011.Effective Date: 12-13-1996 .4735.621 Waiver of fiduciary duties.(A) The duties required of a licensee under section 4735.62 of the Revised Code may not be waived by a client.(B) A licensee shall perform the duties required under section 4735.63 or 4735.65 of the Revised Code unless the client agrees to waive these duties, and signs a waiver of duties statement pursuant to division (C) of this section.(C) The superintendent of real estate, with the approval of the Ohio real estate commission, shall establish by rule a waiver of duties statement that shall contain the following:(1) The fiduciary duties required of all licensees under section 4735.62 of the Revised Code;(2) A list of those duties contained in section 4735.63 or 4735.65 of the Revised Code, which shall be set forth in a manner that allows for the parties to indicate which of those duties are being waived;(3) A statement that no other licensee is required to perform the waived duty on behalf of the client;(4) A statement that legal counsel or other professionals may be hired by the client;(5) A place for the client and licensee to sign and date the statement.Cite as R.C. § 4735.621Effective Date: 10-12-2006 .4735.63 Representing seller in agency relationship - duty to promote interests of client.(A) In representing a seller in an agency relationship, a licensee shall :(1) Seek a purchase offer at a price and with terms acceptable to the seller. Unless the seller so directs, the licensee is not obligated to seek additional offers if the property is subject to a contract of sale, lease, or letter of intent to lease;(2) Accept delivery of and present any purchase offer to the seller in a timely manner, even if the property is subject to a contract of sale, lease, or letter of intent to lease;(3) Within the scope of knowledge required for licensure, answer the seller's questions and provide information to the seller regarding any offers or counteroffers;(4) Assist the seller in developing, communicating, and presenting offers or counteroffers;(5) Within the scope of knowledge required for licensure, answer the seller's questions regarding the steps the seller must take to fulfill the terms of any contract.(B) A licensee does not breach any duty or obligation to a seller with whom the licensee has an agency relationship by showing alternative properties to a prospective purchaser or by acting as an agent or subagent for other sellers.(C) Nothing in this section shall be construed as permitting a licensee to perform any act or service that constitutes the practice of law.Effective Date: 12-13-1996; 10-12-2006 .4735.64 Representing seller in agency relationship - prohibited acts.In representing a seller in an agency relationship, no licensee shall do either of the following without the knowledge and consent of the seller:(A) Extend an offer of subagency to other licensees;(B) Offer compensation to a broker who represents a purchaser.Effective Date: 12-13-1996 .4735.65 Representing buyer in agency relationship - duty to promote interests of client.(A) In representing a purchaser in an agency relationship, a licensee shall:(1) Seek a property at a price and with purchase or lease terms acceptable to the purchaser. Unless the client so directs, the licensee is not obligated to seek additional purchase or lease possibilities if the purchaser is a party to a contract to purchase property, or has entered into a lease or has extended a letter of intent to lease.(2) Within the scope of knowledge required for licensure, answer the purchaser's questions and provide information to the purchaser regarding any offers or counteroffers;(3) Assist the purchaser in developing, communicating, and presenting offers or counteroffers;(4) Present any offer to purchase or lease to the seller or the seller's agent in a timely manner, even if the property is subject to a contract of sale, lease, or letter of intent to lease, and accept delivery of and present any counteroffers to the purchaser in a timely manner;(5) Within the scope of knowledge required for licensure, answer the purchaser's questions regarding the steps the purchaser must take to fulfill the terms of any contract.(B) A licensee does not breach any duty or obligation to the purchaser by showing the same properties to other purchasers or by preparing or presenting contemporaneous offers to purchase or lease the same property. Prior to preparing a contemporaneous offer, a licensee shall disclose that fact to all clients for whom the licensee is preparing, presenting, or has prepared or presented contemporaneous offers to purchase or lease the same property and shall refer to another licensee any client that requests such referral.(1) The disclosure required by this section shall be provided in writing unless written disclosure cannot be delivered in a timely manner, in which case the licensee shall provide the disclosure verbally.(2) A licensee does not breach a duty of confidentiality to any client by disclosing the fact of contemporaneous offers, but shall maintain as confidential between the purchasers the identity of the purchasers and the terms of the offers.(C) A licensee does not breach any duty or obligation to the purchaser by acting as an agent or subagent for other purchasers, or as an agent or subagent for sellers, except that any dual agency relationship must be disclosed to a client pursuant to section 4735.71 of the Revised Code.(D) Nothing in this section shall be construed as permitting a licensee to perform any act or service that constitutes the practice of law.Cite as R.C. § 4735.65Amended by 131st General Assembly File No. TBD, HB 532, §1, eff. 4/6/2017.Effective Date: 12-13-1996; 10-12-2006 .4735.66 Representing buyer in agency relationship - prohibited acts.In representing a purchaser in an agency relationship, no licensee shall do either of the following without the knowledge and consent of the purchaser:(A) Extend an offer of subagency to other licensees;(B) Accept compensation from a broker who represents a seller.Effective Date: 12-13-1996 .4735.67 Disclosures to purchaser.(A) A licensee shall disclose to any purchaser all material facts of which the licensee has actual knowledge pertaining to the physical condition of the property that the purchaser would not discover by a reasonably diligent inspection, including material defects in the property, environmental contamination, and information that any statute or rule requires be disclosed. For purposes of this division, actual knowledge of such material facts shall be inferred to the licensee if the licensee acts with reckless disregard for the truth.(B) A licensee is not required to discover latent defects in the property or to advise on matters outside of the scope of the knowledge required for real estate licensure, or to verify the accuracy or completeness of statements made by the seller, unless the licensee is aware of information that should reasonably cause the licensee to question the accuracy or completeness of such statements.(C) Nothing in this section limits any obligation of a seller to disclose to a purchaser all material facts known by the seller pertaining to the physical condition of the property, nor does it limit the obligation of the prospective purchaser to inspect the physical condition of the property.(D) Nothing in this section limits any obligation of a purchaser to disclose to a seller all material adverse facts known by the purchaser pertaining to the purchaser's financial ability to perform the terms of the transaction.(E) No cause of action shall arise on behalf of any person against a licensee for disclosing information in compliance with this section, unless the information is materially inaccurate and the disclosure by the licensee was made in bad faith or was made with reckless disregard for the truth.Effective Date: 12-13-1996 .4735.68 Liability for false information.(A) A licensee is not liable to any party for false information that the licensee's client provided to the licensee and that the licensee in turn provided to another party in the real estate transaction, unless the licensee had actual knowledge that the information was false or acted with reckless disregard for the truth.(B) No cause of action shall arise on behalf of any person against a client for any misrepresentation a licensee made while representing that client unless the client had actual knowledge of the licensee's misrepresentation.(C) Knowledge of or information contained in a brokerage or an affiliated or past licensee's transaction records of any current or previous defect, adverse condition, or repair in real property shall not be imputed to that broker or to other licensees affiliated with that broker. No cause of action based on imputed knowledge shall accrue on behalf of any person against a broker or affiliated licensee for failure to disclose such defects, adverse condition, or repair.Amended by 129th General AssemblyFile No.28, HB 153, §101.01, eff. 9/29/2011.Effective Date: 12-13-1996 .4735.69 Assisting party who is not a client.(A) A licensee may assist a party who is not the licensee's client in a real estate transaction by doing any of the following:(1) Providing information regarding lenders, inspectors, attorneys, insurance agents, surveyors, draftspersons, architects, schools, shopping facilities, places of worship, and other similar information;(2) Providing market information or other information obtained from a property listing service or public records.(B) A licensee who assists a party who is not the licensee's client as permitted in division (A) of this section does not violate the agency relationship with the client, and provision of the services for that party neither forms nor implies any agency relationship with that party.Effective Date: 12-13-1996 .4735.70 Dual agency definitions.The following are dual agents under this chapter:(A) A licensee who represents both the purchaser and the seller as clients in the same real estate transaction;(B) A brokerage that represents both the purchaser and the seller as clients in the same real estate transaction;(C) A management level licensee who represents a client in an in-company transaction. If there is more than one management level licensee affiliated with the brokerage and either of the following applies, the management level licensee is not a dual agent:(1) The management level licensee personally represents either the seller or the purchaser in a transaction, in which case the management level licensee will represent only the interests of that licensee's client.(2) The management level licensee is the purchaser or seller in a transaction and will represent only that licensee's interest.Effective Date: 12-13-1996; 01-01-2005 .4735.71 Dual agency - disclosure statement.(A) No licensee or brokerage shall participate in a dual agency relationship described in section 4735.70 of the Revised Code unless both the seller and the purchaser in the transaction have full knowledge of the dual representation and consent in writing to the dual representation on the agency disclosure statement described in section 4735.57 of the Revised Code. Before a licensee obtains the consent of any party to a dual agency relationship, the licensee shall disclose to both the purchaser and the seller all relevant information necessary to enable each party to make an informed decision as to whether to consent to the dual agency relationship. If, after consent is obtained, there is a material change in the information disclosed to the purchaser and the seller, the licensee shall disclose the change of information to the purchaser and the seller and give them an opportunity to revoke their consent.(B) No brokerage shall participate in a dual agency relationship described in division (C) of section 4735.70 of the Revised Code, unless each of the following conditions is met:(1) The brokerage has established a procedure under section 4735.54 of the Revised Code under which licensees, including management level licensees, who represent one client will not have access to and will not obtain confidential information concerning another client of the brokerage involved in the dual agency transaction.(2) Each licensee fulfills the licensee's duties exclusively to the licensee's client.(C) No salesperson or broker licensed under this chapter shall participate in a dual agency relationship in which the licensee is a party to the transaction, either personally or as an officer or member of a partnership, association, limited liability company, limited liability partnership, or corporation that has an interest in the real property that is the subject of the transaction or an entity that has an intention of purchasing, leasing, or exchanging the real property.Cite as R.C. § 4735.71Amended by 129th General AssemblyFile No.28, HB 153, §101.01, eff. 9/29/2011.Effective Date: 12-13-1996; 01-01-20054735.72 Dual agency - brokerage and management level licensees.(A) The brokerage and management level licensees in a brokerage in which there is a dual agency relationship described in section4735.70 of the Revised Code shall do each of the following:(1) Objectively supervise the affiliated licensees in the fulfillment of their duties and obligations to their respective clients;(2) Refrain from advocating or negotiating on behalf of either the seller or the purchaser;(3) Refrain from disclosing to any other employee of the brokerage or any party or client, any confidential information of a client of which the brokerage or management level licensee becomes aware and from utilizing or allowing to be utilized for the benefit of another client, any confidential information obtained from a client.(B) When two licensees affiliated with the same brokerage represent separate clients in the same transaction, each affiliated licensee shall do both of the following:(1) Serve as the agent of only the party in the transaction the licensee agreed to represent;(2) Fulfill the duties owed to the respective client as set forth in this chapter and as agreed in the agency agreement.(C)(1) In all cases, a management level licensee shall keep information of the client or brokerage confidential.(2) Nothing in this section prohibits the brokerage or management level licensees in the brokerage from providing factual, nonconfidential information that presents or suggests objective options or solutions, or assisting the parties in an unbiased manner to negotiate or fulfill the terms of the purchase contract or lease, provided that confidential information of a client is not utilized in any manner in formulating such suggestions or providing this assistance.(D) No cause of action shall arise on behalf of any person against a licensee in a dual agency relationship for making disclosures to the parties that are permitted or required by this chapter or that have been made on the agency disclosure statement. Making permitted disclosures does not terminate any agency relationship between a licensee and a client.(E)(1) If a brokerage determines that confidential information of one client in a dual agency relationship has become known to any licensee employed by or affiliated with the brokerage who is representing the other client in the dual agency relationship, as a result of the failure of the brokerage, its licensees, or its employees to maintain such confidentiality, the brokerage shall do both of the following:(a) Notify both clients of the fact immediately in writing;(b) Offer to resign representation of both clients.(2) If either client elects to accept the resignation, the brokerage shall not be entitled to any compensation from that client. If either client does not accept the resignation, the brokerage may continue to represent that client.(3) A licensee who obtains confidential information concerning another client of the brokerage in a dual agency relationship shall not, under any circumstances, disclose that information to or use that information for the benefit of the licensee's client.(F) A client of a brokerage who is involved in a dual agency relationship may bring an individual action against a brokerage and any licensee who has failed to comply with the procedure described in division (B)(1) of section 4735.71 of the Revised Code to recover actual damages and to rescind an agency agreement with the brokerage.Cite as R.C. § 4735.72Effective Date: 12-13-1996; 01-01-2005 .4735.73 [Repealed].Effective Date: 01-01-2005 .4735.74 Duties following closing of transaction.Unless otherwise agreed in writing, a licensee owes no further duty to a client after performance of all duties or after any contract has terminated or expired, except for both of the following:(A) Providing the client with an accounting of all moneys and property relating to the transaction;(B) Keeping confidential all information received during the course of the transaction unless:(1) The client permits disclosure;(2) Disclosure is required by law or by court order;(3) The information becomes public from a source other than the licensee;(4) The information is necessary to prevent a crime the client intends to commit;(5) Disclosure is necessary to defend the brokerage or its licensees against an accusation of wrongful conduct or to establish or defend a claim that a commission is owed on a transaction;(6) Disclosure is regarding sales information requested by a real estate appraiser assistant registered under Chapter 4763. of the Revised Code or a real estate appraiser licensed or certified under Chapter 4763. of the Revised Code for the purposes of performing an appraisal. No cause of action shall arise on behalf of any person against a licensee for releasing information pursuant to this division.Amended by 129th General AssemblyFile No.127, HB 487, §101.01, eff. 9/10/2012.Amended by 129th General AssemblyFile No.28, HB 153, §101.01, eff. 9/29/2011.Effective Date: 12-13-1996 .4735.75 Authorization of other brokers by exclusive agent.(A) A broker who has the exclusive authority to represent a client under a written exclusive agency agreement, exclusive right to sell agreement, or exclusive purchaser agency agreement may authorize other licensees to negotiate directly with that client. The authorization shall be in writing and the broker shall comply with the requirements of section 4735.621 of the Revised Code.(B) A licensee who negotiates directly with a seller, purchaser, lessor, or tenant pursuant to a written authorization as described in division (A) of this section does not violate division (A)(19) of section 4735.18 of the Revised Code and negotiations conducted by a licensee pursuant to the authorization shall not create or imply an agency relationship between that licensee and the client of that exclusive broker.(C) As used in this section and division (A)(19) of section 4735.18 of the Revised Code, "negotiate" means any the following:(1) Delivering or communicating an offer, counteroffer, or proposal;(2) Discussing or reviewing the terms of any offer, counteroffer, or proposal;(3) Facilitating communication regarding an offer, counteroffer, or proposal and preparing any response as directed.Cite as R.C. § 4735.75Want to learn more about Real Estate?Follow me on Instagram.Subscribe to the Holton-Wise YouTube Channel.

Antonia is Sonia’s real name in her birth certificate. Sonia is the name given to her subsequently by her father, Stefano Maino [now deceased] following his return from Russia where he had been a prisoner of war. Stefano had joined the Nazi army as a volunteer. Sonia is a Russian not Italian name. While spending two years in a Russian jail, Sonia’s father had become quite pro-Soviet; especially after the liberating US army in Italy had confiscated all fascists’ properties including his.Second, she was not born in Orbassano as she claims in her bio data submitted to Parliament on becoming MP, but in Luciana as stated in her birth certificate. She perhaps would like to hide the place of her birth because of her father’s connection with the Nazis and Mussolini’s Fascists, and her family’s continuing connections with the Nazi-Fascists underground that is still surviving since 1945 in Italy. Luciana is where Nazi-Fascist network is headquartered, and is on the Italian-Swiss border. There can be no other explanation for this otherwise meaningless lie.Third, Sonia Gandhi has not studied beyond Primary School. She has falsely claimed in her affidavit filed as a contesting candidate before the Rae Bareli Returning Officer in the 2004 Lok Sabha elections that she is qualified and got a diploma in English from the prestigious University of Cambridge, UK.The truth is that Ms. Gandhi has never studied in any college anywhere. She did go to a Catholic run seminary-school called Maria Ausiliatrice in Giaveno [15 kms from adopted home town of Orbassabo]. Poverty those days forced young Italian girls to go to such missionaries and then in their teens go to UK to get jobs as cleaning maids, waitresses and au pair. The Mainos were poor those days. Her father was a mason and mother a share cropper..Paola Maino Antonia Sonia Gandhi MotherSonia thus went to the town of Cambridge and first learnt some English in a teaching shop called Lennox School [which has since 1970 been wound up]. That is all her “education” which is enough English language to get domestic help jobs. But in Indian society education is highly valued. Thus, to fool the Indian public, Sonia Gandhi willfully fibbed about her qualifications in Parliamentary records [which is a Breach of Ethics Rules] and in a sworn affidavit [which is criminal offence under IPC, severe enough to disqualify her from being MP].This is just a beginning. As this booklet unfolds Sonia’s story, it reveals shocking details on the corruption and fraud, disrespect for Indian laws, alarming threat to democracy of India, religious intolerance towards Hinduism, pro-terrorist policies, dividing country to perpetuate dynasty rule.Sonia lied from President of India to a common man. She lied to the President about the number of MPs supporting her and to a common man on a trivial issue such as her educational qualification. She says that she is outside Government but controls every move Government makes and there is no record of her ever admitting or apologizing for any lies and mistakes.Non- Violence.Sonia is violent and her violence spans Political, Spiritual and Physical spheres. The way she installed herself to become congress president, the way she treats congressmen and opponents speaks volumes in Political Sphere. Her crusade against Hinduism such as Rama Sethu (historic bridge built by Lord Ram, as per Hindu Holy Book, “Ramayana”) speaks of spiritual violence. In the Physical sphere, Sonia was sympathetic in Congress party and in Government to the killers of 3000 Sikhs, where innocent Sikhs on streets of New Delhi were lynched to death. Jagdish Tytler who was one of the instigators of the lynching was rewarded with a Government ministry. Central Government provided a weak defense in courts and no congressmen was ever punished for the anti-Sikh pogrom. Rajiv Gandhi whose wife is Sonia even justified the killings by saying “When a big tree falls, the earth is bound to shake”. She is pursuing pro-terrorist policies for vote banks that resulted in number of killings in last three years she was in power just next to Iraq.Opinion on Hinduism and Ram SetuSonia, in her opinion and according to the affidavit submitted in Supreme Court, Ram is a fictional character and Ramayana never happened. Under her rule ‘Rama Sethu’ is being blown up just like Taliban blew up Buddha Statues. Her protégé Andhra Pradesh Chief Minister have attempted to take over 5 out of 7 Tirumala Hills for building Churches and Tourism. This is akin to non-Christians taking over Vatican for building their worship places. Her reasons for not taking firm action against terrorism are two fold. One is the sense that investigation would hurt vote bank and another is that the overwhelming number of those who were killed in the terrorism are Hindus who are not from the vote bank. As recently as few weeks she visited Andhra Pradesh that witnessed the brutal terrorist attack that killed more than 50 people and she did not go visit the city where attack occurred (Hyderabad) because those affected are not her vote banks.Truth Alone Triumphs (Satyameva Jayathe)Sonia, under her rule ‘Satyameva jayathe’ has been replaced by a Christian cross used by Louis the Pious (778-840) on currency coins. indian two rupees coin,compare it with french coinchristian cross on coins of french denier_louis_le_pieuxForeign Missionaries & conversionMahatma Gandhi: Gandhi, had a clear foresight about missionaries. On numerous occasions he condemned missionary activity. He said “If I had the power and could legislate, I should certainly stop all proselytizing.” He further said “The effect of Christianity upon India in general…has been disastrous.” Regarding conversion Gandhi said “The idea of conversion, I assure you is the deadliest poison that ever sapped the fountain of truth.” He also said “Conversion is like a drop of poison which fouls the whole food” and that “poverty does not justify conversion”.Sonia is known for her sympathy and support to deceitful proselytization. Her party granted the high-security Air Force field to Benny Hinn to hold his healing charade that even Christian Trinity Foundation declared as a fraud. A leader of seventh day Adventist church, Ron Watts was ordered deportation by courts for his illegal activities. He seems to have been blessed by Sonia and continues to live in India. The state Governors she appointed have been consistently rejecting State laws to enact anti-conversion laws to prevent conversion of poor people by allurement.HYPOCRISY OF MOTHER & SONSONIA is a staunch roman catholic and she is be fooling the HINDU masses by putting tilak on forehead and by performing pooja in HINDU temples and bowing the head before pujari etc.She pretend to be Hindu,which she is not.We are quoting a report published on 24th march 2011,which is self explanatory.Indian envoy refers to Sonia as ‘Christian,’ reference is deletedFor the Congress, the subject of Sonia Gandhi’s religion is a touchy one and generally off-limits when it comes to official communications.Just how sensitive an issue it is was revealed last month when the official representative of the UPA Government in Washington, Ambassador Meera Shankar, delivered a speech at a US university referring to Sonia Gandhi being a Christian as a testament to India’s pluralism and diversity. However, that reference was later quickly deleted.In her keynote speech on the subject “Why India Matters” at Emory University on February 24, Shankar said: “India is a land of incredible diversity. Like the United States it celebrates pluralism. It not only tolerates diversity but has embraced it and has allowed people from all walks of life to flourish and realize their full potential. This is a tradition that is rooted in our civilization. Throughout our history peoples from other parts of the world have come to India and made it a home, resulting in a multi-cultural and multi-religious society, one where individual faith and belief is not only respected but adds to the overall sense of nationhood. Today the fact that we have a woman Head of State, a Sikh Head of Government and a Muslim Vice President and a Christian as the leader of the largest national political party is perhaps the best statement of the multi-ethnic and multi-religious nature of our state.”Sonia,according to the respected Swiss magazine (published in 1991), Schweitzer Illustrate, Rajiv Gandhi, her late husband had secret Swiss accounts worth $ 2 billion. Sonia is known for her close association with Italian fugitive Quattrocchi. Sonia and her family are believed to have looted country wealth worth billions of dollars.Secret unaccounted wealth in Swiss accountsSwiss magazine Schweizer Illustrierte published an explosive story in its issue dated Nov. 11, 1991 which disclosed that fourteen rules or ex-rulers of the third world countries have a deposit of foreign currencies equivalent to Rs. 5 lakh 50 thousand crores in Swiss banks. The magazine printed the names, photographs and the amount deposited by each of them. They included Idi Amin of Uganda, Anastasio Somoza of Nicaragua, Jean Claude Duvalier of Haiti, Manuel Noriega of Panama, Seke Moboto of Zaire, Nicolai Chausescue of Rumania, Haile Selassie of Thiopia, Abu Nida of Palestine, Jaafar Numeiri of Sudan, Suharto of Indonesia, Saddam Hussain of Iraq, Jaa B. Bokassa of Zontralafrika, Rajiv Gandhi of India and Reza Pahlevi of Iran, in that order. The amount said to be deposited by Rajiv Gandhi in various Swiss Banks was 2 billion US dollars. Most of them, who figure in the list, are infamous for being corrupt, nationally and internationally. The magazine which published this story is supposed to be a very serious publicationCPI(M) MP Amal dutta raised the matter in parliament, and he did mention the name of Rajiv Gandhi and the amount, but nothing could go on record for there was pandemonium from treasury benches which happened to be occupied by the Congress at that time. There upon, Sunday Mail carried this story and reproduced the photographs and money mentioned under their names which in turn was published in the Hindi daily Amar Ujala, too. The point to note was that Congress Government neither confirmed the story nor denied it. No defamation suit was filed by any of the fourteen leaders or by their relatives. This speaks volume about the Rajiv-Sonia couple. India can get her money back, according to the Swiss laws, if prosecution proceedings are finally launched against the heirs of Rajiv GandhiTHE ROYAL SON IN LAW ROBERT VADRA DUKE OF MORADABAD IS EXEMPTED FROM PRE-EMBARKATION SECURITY CHECKS.THE ROYAL FAMILY OF ITALIAN QUEEN VICTORIAFeelings towards enemies/detractorsSonia is known for her vindictive nature. She is known not to spare even her party men and routinely humiliates them. She even humiliated the dead body by denying a respectful funeral, of former Prime Minister PV Narasimha Rao who did not encourage Sonia’s political growth.Nationalism and confidence in IndiaSonia abandoned India during 1971 war and in 1977 when Indira Gandhi lost elections she hid herself in Italian embassy. She did not even apply for Indian citizenship for 16 years though living in Prime Minister’s house.Moral principles vs. political GainsSonia,in 1997, Sonia pulled down United Front Government at centre because a political party DMK, a constituent of United Front Government was found to be close to her husband’s killers i.e., LTTE. Every election costs Indian tax payer billions of rupees. But in 2004, she joined hands with same DMK to gain power.Scams & Scandals.Sonia was almost and always in news due to some scandal or scam. Maruti Scam, Foreign Exchange Regulations Act, Indian Artifacts smuggling, Bofors kickbacks, Indira/Rajiv Trusts and Indira Arts Center usurpation, political manipulations are some of the widely published notorious scandals she was involved in.Contribution towards IndiaSonia: Except for scandals, scams and intolerance primarily towards Hindu institutions, she has no positive contribution to lay claim to.QUEEN WITH KING,PRINCESS AND CROWN PRINCESonia –Rajiv’s relationship(Dr. Subramaniam Swamy)Ms. Sonia Gandhi upon learning enough English became a waitress in Varsity Restaurant in Cambridge town. She first met Rajiv when he came to the restaurant in 1965. Rajiv was a student in the University, but could not cope with the academic rigor for long. So he had to depart in 1966 for London where he was briefly in Imperial College of Engineering as a student. Sonia too moved to London, and according my information, got a job with an outfit run by Salman Thassir, a debonair Pakistani based in Lahore, and who has an export-import company headquartered in Dubai but who spends most of his time in London. This fits the profile of an ISI functionary.Obviously, Sonia made enough money in this job to loan Rajiv funds in London, who was obviously living beyond his allowances [Indira herself expressed anguish to me on this score in late 1965 when she invited me to a private tea at the Guest House in Brandeis University]. Rajiv’s letters to Sanjay, who was also in London then, clearly indicate that he was in financial debt to Sonia because he requested Sanjay who obviously had more access to money, to pay off the debt.However, Rajiv was not the only friend Sonia was seeing those days. Madhavrao Scindia and a German by name Stiegler are worth mentioning as other good friends of Sonia. Madhavrao’s friendship continued even after Sonia’s marriage to Rajiv. Scindia in 1982 was involved in a traffic accident near IIT, Delhi main gate while driving a car at 2 AM. Sonia was the only other passenger. Both were badly injured. A student of IIT who was burning midnight oil was out for a cup of coffee. He picked them up from the car, hailed an auto rickshaw and sent an injured Sonia to Mrs. Indira Gandhi’s house since she insisted in not going to a hospital. Madhavrao had broken a leg and in too much pain to make any demand. He was taken to hospital by the Delhi Police who had arrived a little after Sonia had left the scene. In later years, Madhavrao had become privately critical of Sonia, and told some close friends about his apprehensions about Sonia. It is a pity that he died in mysterious circumstances in an air crash.Sonia’s India connectionSonia’s connection with India is always found with all wrong reasons. A rational analysis of what India gained vs. what India lost reveals a shocking picture.Foreign Agency initiated marriage to RajivThe circumstance under which Rajiv hastily married Sonia in a Church in Orbassano is controversial but that was his personal matter that has no public significance. But what is of public significance is that Indira Gandhi who was initially dead set against the marriage for reasons known to her, relented to hold a registry marriage with Hindu ceremonial trappings in New Delhi only after the pro-Soviet T.N. Kaul prevailed upon her to accept the marriage in “the larger interest of cementing Indo-Soviet Friendship”. Kaul would not have intervened unless the Soviet Union had asked him to.Such has been the extensive patronage from the beginning extended to Sonia Gandhi from the Soviets. When a Prime Minister of India’s son dates a girl in London, the KGB which valued Indo-Soviet relations, obviously would investigate her and find out that she was the daughter of Stefano, their old reliable Italian contact. Thus, Sonia with Rajiv meant deeper access to the household of the Indian Prime Minister. Hence cementing the Rajiv-Sonia relations was in the Soviet national interest and they went to work on it. And they did through their then existing moles in the Indira Gandhi camp.After her marriage to Rajiv, the Soviet connection with the Mainos was fortified and nurtured by generous financial help through commissions and kickbacks on every Indo, Soviet trade deal and defense purchases. According to the respected Swiss magazine, Schweitzer Illustrate [November 1991 issue], Rajiv Gandhi had about $ 2 billion in numbered Swiss bank accounts, which Sonia inherited upon his assassination. Dr. Yevgenia Albats, PhD [Harvard], is a noted Russian scholar and journalist, and was a member of the KGB Commission set up by President Yeltsin in August 1991. She was privy to the Soviet intelligence files that documented these deals and KGB facilitation of the same. In her book, The State within a State, The KGB in Soviet Union, she even gives the file numbers of such intelligence files, which can now be accessed by any Indian government through a formal request to the Kremlin.The Russian Government in 1992 was confronted by the Albats’ disclosure; they confirmed it through their official spokesperson to the press [which was published in Hindu in 1992], defending such financial payments as necessary in “Soviet ideological interest”.When the Soviet Union disintegrated in 1991, things changed for Ms. Sonia Gandhi. Her patrons evaporated. The rump that became Russia was in a financial mess and disorder. So Ms. Sonia Gandhi became a supporter of another communist country to the annoyance of the Russians.The national security ramification of this ‘annoyance’ is now significant: The President of Russia today is Putin, a former dyed-in-the-wool KGB officer. Upon Dr. Manmohan Singh’s government taking office, Russia called back it’s career diplomat Ambassador in New Delhi and immediately posted as the new Ambassador a person who was the KGB station chief in New Delhi during the 1970s. In view of Dr. Albats confirmed revelation, it stands to reason that the new Ambassador would have known first hand about Sonia’s connections with the KGB. He may have in fact been her “controller”. The new Indian government which is defacto Sonia’s, cannot afford to annoy him or even disregard Russian demands coming from him? They will obviously placate him so as not to risk exposure. Is this not a major national security risk and a delicate matter for the nation?Of course, all Indians would like good normal and healthy relations with Russia. Who can forget their assistance to us in times of need? Today’s Russia is the residual legatee of that Soviet Union which helped India. But just because of that, should we tolerate those in our government set up having clandestine links with a foreign spy agency? In the United States, the government did not tolerate an American spying for Israel even though the two countries are as close as any two countries can be. National security and friendship are as different as chalk and cheese.Illegal registration as a voterIn January 1980, Indira Gandhi returned as Prime Minister. The first thing Sonia did was to enroll herself as a voter. This was a gross violation of the law, enough to cause cancellation of her visa [since she was admittedly an Italian citizen then]. There was some hullabaloo in the press about it, so the Delhi Chief Electoral Officer got her name deleted in 1982. But in January 1983, she again enrolled herself as a voter! Such is her revealed disdain for Indian laws and that is her mindset even today.How and when she became an Indian citizenShe did not apply for Indian citizenship in 1968 when she married Rajiv and came to India, which is what good Indian wives would have done. She filled in an application in 1968 for permission to stay as a foreigner in India for five years. She said I am married, I am married into the family of the Indian Prime Minister but I would still like to remain a foreigner. So she was given a certificate in 1968 to reside in India as a foreigner for five years. Okay, this may have been due to some adjustment problems.In 1973, after the first five year period expired, she again applied for the permit to stay on India for another five years as a foreigner and this is the person who is going to live and die for us. I will now come to what Cho, my friend told me, never believe what she says. There is not only complete divorce between what she says and what she does there is also a clue that she will do precisely the opposite of what she says. I will come to it later, there are instances and instances. So, she again applied for a foreigner’s permit. You know why? Between 1968 and 1973, the indications were all there of the imminent war with Pakistan over East Pakistan. And sure enough, there was the Bangladesh war. During the Bangladesh war, when all commercial pilots were asked to forego their leave and come into service, she asked Rajeev to go on a long leave and he was given special permission and they left India. And throughout the period of the war, they were in Rome. Why, because the American seventh fleet was moving towards India and Sonia Gandhi probably had serious doubts about India’s survival! So she ran away from the country with her husband; to that extent faithful. And she returned only after peace was restored, after India had won the war, when because of Indira Gandhi, that family acquired stature and became invincible.So, we have to read between the lines, you have to look at the persons behind the skin. So, in 1973, she again applied for a permit to remain a foreigner in India. Now let us come to the period between 1973 and 1978. In the year 1977 when Mrs. Gandhi was defeated after she lifted the Emergency and called for elections, Sonia Gandhi learnt the mood of the nation and she went into the Italian embassy and refused to come out of it. She said she was going back to Italy. Sanjay Gandhi had to go and plead with her to return. This is the person who is going to live and die for India, please http://understand.To live in India is very different from living for India. And to live in India in such glory, with such protection, with such resources, is very different from dying for India. No one will die for something which one does not own up to. Owning up to India is different from thinking you own India.Abandoning India at the time of crisisThe bottom line observed in Sonia’s mindset is that she can always run back to Italy if she becomes vulnerable at anytime. In Peru, President Fujimori who all along claimed to be “born Peruvian”, faced with a corruption charge fled to Japan with his loot and reclaimed his Japanese citizenship.In 1977, when the Janata Party defeated the Congress at the polls, and formed the government, Sonia with her two children, abandoned Indira Gandhi and ran to the Italian Embassy in New Delhi and hid there. Rajiv Gandhi was a government servant then [as an Indian Airlines pilot], but he too tagged along and hid in that foreign embassy! Such was her baneful influence on him. Rajiv did snap out Sonia’s influence after 1989, but alas he was assassinated before he could rectify it. Those close to Rajiv knew that he was planning set things right about Sonia after the 1991 elections. She did too know of it because he had told her. Ever wonder why Sonia’s closest advisers are those whom Rajiv literally hated? Ambika Soni is one such name. Ever wonder why she asked the President of India to set aside, on a mercy petition, the Supreme Court judgment directing that Rajiv Gandhi’s LTTE killers be hanged to death, when she was not similarly moved for Satwant Singh who killed Indira Gandhi or recently for Dhanajoy Chattopadhyaya? The explanation for this special consideration for the LTTE lies in what Rajiv had told her in 1990.Sonia’s greed for power: How did she become party presidentSonia said that she was not interested in politics, she would not enter politics. She said she would not become a Congress member. She will only help the party as a person belonging to the Congress family. She said I am just a four penny member; I will not occupy any position.And then she goes and physically throws out poor Sitaram Kesari (then president of Congress party) from the office. Physically, poor fellow. He has gone to the toilet. His chair was empty, and you know what happened? These congress goons, they went and locked up the toilet and made Sonia occupy that place. And the elderly man cried. This is how she became the Congress President. In the same way as the western armies in the past, would invade other civilizations. Seize power, she seized power in a ‘coup d’toilet’.This is how every word that she has spoken so far had nothing to do with what she did. Her conduct was the very reverse of her professions.First confrontation with Indian law(Dr. Subramaniam Swamy)After Sonia married Rajiv, she went about minting money with scant regard for Indian laws and treasures. Within a few years the Mainos went from utter poverty to billionaires. There was no area that was left out for the rip-off. On November 19, 1974, as fresh entrant to Parliament, I asked the then Prime Minister Ms. Indira Gandhi on the floor of the House if her daughter-in-law, Sonia Gandhi was acting as an insurance agent of a public sector insurance company [Oriental Fire & Insurance], giving the Prime Minister’s official residence as her business address, and using undue influence to insure all the officers of the PMO while remaining an Italian citizen [thus violating FERA]? There was uproar in Parliament, but Mrs. Indira Gandhi had no alternative but to cut her losses. She made a rare admission that it was so, and that it was by mistake, but that Sonia had resigned from her insurance agent status [after my question]. But Sonia was incorrigible. Her contempt for Indian law continued to manifest.The truth about Quottrochi(By Arun Shourie)Responding to a question regarding her family friend Ottavio Quattrocchi, at her singular press conference Mrs. Sonia Gandhi said, ”The CBI has said he is a suspect. But we have never seen the papers naming him in the deal. They should show the papers establishing that he is guilty.”The fact that he received money from Bofors, as well as particulars of his accounts into which the money was paid, transferred and re-transferred are available in the public domain, in judgments which the Courts have already delivered on appeals by her family friend..The relevant judgments are as follows:1. Judgment of the Chamber of Accusation, Switzerland, dated 6 September, 1996, in regard to Colbar Investments Ltd, Inc, and Ottavio Quattrocchi v. The decision taken by the Examining Magistrate on 12 July, 1995. THIS JUDGMENT WAS FURNISHED TO THE DELHI HIGH COURT INADVERTANTLY, PERHAPS! BY THE COUNSEL OF OTTAVIO QUATTROCCHI HIMSELF.2. Judgment of the Division Bench of the Delhi High Court dated 5 August, 1998, in Ottavio Quattrocchi v. Central Bureau of Investigation.3. Judgment of the Division Bench of the Supreme Court of India dated 23, February, 1999, in Ottavio Quattrocchi v. CBI.4. Judgment of the Division Bench of the Supreme Court of India dated 26, March, 1999, in Ottavio Quattrocchi v. CBI.These judgments together establish the following facts about the money received by Ottavio Quattrocchi from Bofors.In his sworn affidavit, Myles Tweedale Stott revealed that he was contacted by Ottavio Quattrocchi. In accordance with their discussions, M/s AB Bofors entered into an agreement with AE Services on 15 November, 1985, and agreed to pay the latter THREE PER CENT OF THE TOTAL AMOUNT OF THE CONTRACT if the contract was awarded to Bofors on or before 31 March, 1986.2. From 7 June, 1984 to early February, 1986, the Negotiating Committee met seventeen times. The Army consistently ranked the SOFMA gun as its number one preference. On 17 February, 1986, it switched its preference to Bofors. After a note from a Joint Secretary, mini signatures of ELEVEN OFFICERS AND MINISTERS headed by those of Rajiv Gandhi, the then Defense Minister and Prime Minister-were obtained IN LESS THAN 48 HOURS.3. Rajiv Gandhi visited Sweden on 14/15 March, 1986, and told the Swedish Prime Minister that the contract would indeed be given to Bofors. The deadline agreed to by Quattrocchi was thus met.4. On 2 May, 1986, the Government of India released 20 per cent of the contract money-that is, SEK 1,682,132,196.80- as the first advance payment to Bofors.5. On 20 August, 1986, Myles Tweedale Stott opened an account in the name of AE Services c/o Mayo Associates SA, Geneva. The account was NUMBER 18051-53 in the NORDFINANZ BANK, ZURICH.6. On 3 September, 1986, Bofors remitted SEK 50,463,966 into this account- then US $ equivalent being $ SEVEN MILLION THREE HUNDRED FORTY THREE THOUSAND NINE HUNDRED AND FORTY ONE, AND 98 CENTS- $ 7,343, 941.98. This amount was credited into the account on 5 September, 1986.7. THIS AMOUNT PAID BY BOFORS- SEK 50,463,966- WAS EXACTLY THREE PER CENT OF THE ADVANCE PAID BY THE INDIAN GOVERNMENT AS HAD BEEN STIPULATED IN THE AGREEMENT OF 15 NOVEMBER, 1985 BETWEEN BOFORS AND AE SERVICES.8. On 16 September, 1986- that is, within 11 days of the money being received into the account which had just been opened by AE Services- it was transferred to ACCOUNT NUMBER 254.561.60 W held by COLBAR INVESTMENTS Ltd in the Union Bank of Switzerland, Geneva. The amount was transferred in two installments. $ SEVEN MILLION WERE PUT INTO THIS ACCOUNT ON 16 SEPTEMBER, 1986, AND ANOTHER $ 123,900 WAS PUT INTO IT ON 29 SEPTEMBER, 1986.9. IN ITS RULING, AT PAGE 6, THE SWISS COURT SPECIFICALLY STATES THAT OTTAVIO QUATTROCCHI IS THE OWNER OF THE COMPANY. COLBAR INVESTMENTS. DOCUMENTS REVEAL THAT ONLY TWO PERSONS COULD OPERATE THE ACCOUNT OF THIS COMPANY OTTAVIO QUATTROCCHI AND HIS WIFE, MARIA. TO CONCEAL MATTERS, QUATTROCCHI GAVE A NON-EXISTENT ADDRESS IN DELHI FOR THIS ACCOUNT.10. On 6 August, 1987 a new company was floated in Panama, M/s WETELSEN OVERSEAS SA IN ITS RULING, AT PAGE 6, THE SWISS COURT SPECIFICALLY STATES THAT OTTAVIO QUATTROCCHI IS THE OWNER OF THIS COMPANY.11. An account-NUMBER 488.320.60 X- was opened within the same bank, the Union Bank of Switzerland, Geneva, on the name of M/s WETELSEN OVERSEAS SA, THE NEW COMPANY QUATTROCCHI HAD OPENED. THIS ACCOUNT ALSO COULD BE OPERATED ONLY BY OTTAVIO QUATTROCCHI OR HIS WIFE, MARIA.12. On 25 July, 1988, ON THE INSTRUCTION OF OTTAVIO QUATTROCCHI $ SEVEN MILLION NINE HUNDRED AND FORTHY THREE THOUSAND [that is, the amount received plus the interest which had accumulated] WAS TRANSFERRED FROM THE ACCOUNT OF HIS COMPANY, COLBAR INVESTMENTS TO THAT OF HIS OTHER COMPANY WETELSEN OVERSEAS SA.13. IN ITS RULING, AT PAGE 6, THE SWISS COURT STATES SPECIFICALLY THAT, LIKE COLBAR INVESTMENTS, WETELSEN OVERSEAS WAS OWNED BY OTTAVIO QUATTROCCHI.14. In yet another round of laundering, on 21 May, 1990, another $200,000 were transferred from the account of M/s Wetelsen Overseas SA in the Union Bank of Switzerland into the account of INTER INVESTMENT DEVELOPMENT CORPORATION with ANNSBACHER Ltd, St PETER PORT, GUERNSEY.15. The Swiss Court noted that Quattrocchi had denied receiving any commission directly or indirectly from Bofors. It noted on the other hand (a) the statement of Myles T Stott that the amount Bofors had paid AE Services was related to the agreement of sale of guns to India; (b) and the trail of subsequent transfers of the money to companies owned by Quattrocchi-from AE Services to Colbar Investments to Wetelsen Overseas. At page 7 of its judgment, the Swiss Court then noted,”This decision [ of the Examining Magistrate] was in particular imparted to Ottavio Quattrocchi, economical owner of Colbar Investments Ltd and Wetelsen Overseas SA, who in view of the documents transferred appeared to have received commissions through the channel of these companies, who had given no explanations and who had not obeyed the judge’s injunction of June 20th, 1994”.16. After setting out further facts, after rejecting roundly the assertions of Quattrocchi that he would not get justice in India and therefore the bank documents should not be allowed to be transferred at page 14 of its judgment, the Swiss Court pronounced,”The Requesting Authority can therefore neglect no track and insofar as the appellants seem to have been used as transfer channels for commissions paid out by Bofors, it is of the first importance that it have at its disposal elements as complete as possible enabling it to reconstruct the network susceptible of having been used and ending, in this case, at a firm in Guernsey..”Rejecting the contentions of Quattrocchi decisively, at page 15 of its judgment, the Swiss Court further concluded,”Now, Colbar Investments Ltd Inc and Ottavio Quattrocchi seem to have received an amount issuing from commissions paid by Bofors and one cannot therefore say that their appearance in the case, was the proceed of pure chance, especially that on the own confession of the appellants it appears that Ottavio Quattrocchi had relationships in India at the highest level and that he had very close relationships with this country.””In conclusion”, the Swiss Court said after rejecting further contentions, ”the recourse [in our terms, the appeal of Quattrocchi against the decision of the lower court that the relevant bank documents be transferred to India] IS ABSOLUTELY UNFOUNDED.”17. On 3 July, 1993, Interpol, Switzerland, informed India that appeals filed by Quattrocchi and others had been dismissed by the Swiss Supreme Court.18. For the next week, though he was in India, no action was taken to restrain Quattrocchi. On the contrary, as had happened in the case of Win Chaddha, Quattrocchi was allowed to escape from India on 29 July, 1993.19. The investigating agency raided the house and offices of Ottavio Quattrocchi. Diaries, family photographs, telephone records nailed his extreme proximity and of his wife to Rajiv and Sonia Gandhi.20. The Special Judge examining the case concluded that there was prima facie evidence to the effect that Ottavio Quattrocchi had received SEVEN MILLION ONE HUNDRED AND TWENTY THREE THOUSAND DOLLARS in the Bofors deal. Accordingly, he issued a non-bailable warrant for his arrest.21. Interpol issued a Red Corner Alert for his arrest on 17 February, 1997.22. Quattrocchi appealed against this Red Corner Alert on 7 April, 1997.23. The Interpol Supervisory Board rejected his appeal on 20 September, 1997.24. Quattrocchi then filed an appeal against the Special Judge’s order in the Delhi High Court. A Division Bench of the High Court roundly rejected the appeal. It held that it found no merit in the appeal. It held that the non-bailable warrant for his arrest was fully justified. The Court said,”We have in extensor quoted the averments which the respondent [the CBI] made in the application seeking the issuance of the warrants. The same on the face of it do constitute making of sufficient allegation pointing out that the evidence so far collected prima facie reveals that the petitioner was recipient of fraud committed in the Bofors gun deal, which he received for himself and on behalf of certain public servants and, therefore, he was required to be arrested and interrogated for expeditions investigation of the case and to reveal the truth.”25. Quattrocchi then filed an appeal in the Supreme Court. On his behalf his counsel told that Supreme Court that Quattrocchi would indeed appear before the Special Court, that he would cooperate with the investigating authorities who want to interrogate him, and that for this purpose the would remain in India for two weeks. The Supreme Court recorded these assurances in its order on 22 February, 1999, and directed him to appear before the Special Judge on 15 March, 1999, and remain present in India for two weeks thereafter so as to enable the investigating authorities to interrogate him. The date came and went, Quattrocchi did not appear.26. The matter was taken again to the Supreme Court. It recorded, ‘we strongly disapprove the manner in which the petitioner [Quattrocchi] has conducted himself in the proceedings before this Court”. That was on 26 March, 1999.Each of these facts is a matter of public record. Each is available in judgments of the highest courts of India and Switzerland.And yet Mrs. Sonia Gandhi says,”We have never seen the papers naming him in the deal. They should show the papers establishing that he is guilty”!There is a second striking feature. A comparison of dates will show that with each failure of Quattrocchi’s efforts to escape the law, Mrs. Sonia Gandhi’s efforts to bring down governments in India accelerated.Who is Quottrochi?(Dina Nath Mishra)Five years ago, India was at the crossroads. An ordinary, Italy-born woman had all but grabbed the prime ministerial chair, claiming the support of the majority of Lok Sabha members. The 120-year-old Congress willingly surrendered to the Italian bahu (daughter-in-law) of the dynasty. The oldest party in the country could not find a single individual other than her to lead it and the nation of over a billion people.On her part, the widow of former Prime Minister Rajiv Gandhi made bold to strangle inner-party democracy. Five years ago, the nation was saved by the bell. For, finally, the nationalist in Mulayam Singh Yadav surfaced, and he quietly put paid to Sonia’s dreams. There may be a whole lot of reasons why she should not be the Prime Minister of India. But just one is enough: She is not of Indian origin.Today, when the nation is once again witnessing the battle of the ballot, every nationalist of every party should ponder whom is he voting? He may be voting for the CPI (M), which ultimately translates into support for Sonia Gandhi, whether directly or indirectly. They may be voting for Laloo Prasad Yadav’s party, which would ultimately strengthen the hands of Sonia Gandhi. They may be voting for the DMK-Ied front whose prime ministerial candidate is Sonia and Sonia alone. They may be electing PDF candidates in J&K but with the same result. The duty of all true nationalists then is to ensure that power does not slip into the hands of someone of foreign origin.The ramifications of her entry into Prime Minister’s Office are numerous. One of them is the Quattrocchi angle. Ottavio Quattrocchi, the representative of the powerful Milan-based Italian company Snamprogetti, originally came to India as a chartered accountant based in a Chennai- based Italian MNC. Gradually, he made his way into the corridors of power especially after Rajiv Gandhi burst on the political scene in the wake of Sanjay Gandhi’s death in a mysterious air crash. It is essential to understand the Quattrocchi phenomenon, particularly in relation to Sonia Gandhi.He worked for a firm which provided services like designing, engineering, management of construction and training of personnel in the sectors such as oil refineries, gas processing, petrochemicals, fertilizers and pipelines. He had no experience of any guns, gun-systems or related equipment. However, he was a close friend of Rajiv Gandhi’s family.Investigation has shown that the families of Rajiv Gandhi and Ottavio Quattrocchi were on very intimate terms and they used to meet frequently. Quattrocchi and his family had free access to the Prime Minister’s house. As a result, Quattrocchi was able to project himself as a person of great influence.Even during the 1980s, when Indira Gandhi was Prime Minister, Quattrocchi had direct frisk-free entry to Prime Minister’s residence, courtesy the Italian ‘bahu’ of Indira Gandhi. Senior journalist Mahendra Ved had this to say in The Times of India (Delhi Edition; February 3, 1998): “Throughout the 1980s, Ottavio Quattrocchi, the affable Italian, was the man about town who moved in high circles and wielded influence in the corridors of power. His word, spoken in smooth Italian-accented English, was the law.“Ministers would rise in their chairs whenever he would walk in unscheduled and see him off, apparently due to his proximity to the then ruling Gandhi family. One minister, Ramachandra Rath, who did not oblige, was dropped in the next round of cabinet reshuffle, recalls a former Member of Parliament. Rath was at the moment talking to veteran Gandhian, BN Pande, and took exception to Quattrocchi simply walking in.“This was also the era of ‘four powerful women’ in New Delhi. They held kitty parties and went on picnics, recalls a Delhi socialite. They were Sonia Gandhi, Maria Quattrocchi, Nina Singh, wife of Arun Singh and Sterre, the Dutch wife of Satish Sharma.“If Rath paid a ‘price’, so did two Fertilizer secretaries, senior enough to become Cabinet Secretaries. Mr. KV Ramanathan had sought a ‘correct’ approach in the awarding of the Thal- Vaishet fertilizer project to Messrs Kellogg and CF Braun. Snam Progetti, the Italian public sector multinational that Quattrocchi represented in India, did not have the appropriate technology.”The decision by the late HN Bahuguna was reversed by Indira Gandhi in 1980. Snam was conversant only with the technology for urea-based fertilizer, while Thal-Vaishet was to run on ammonia. Snam hired the technology from a Dane, Haldor Topsoe, who was essentially an individual consultant. That matter came up in Parliament in a big way.Even while releasing the 1999 election manifesto of the Congress, Sonia Gandhi dodged the question of Quattrochi connections. But her connection with ‘Q’ is too well known to be forgotten. Here I reproduce the news story written by AB Mahapatra in Free Press Journal dated February 20, 1998.“Ottavio Quattrocchi, whose extradition is demanded by many political parties in connection with the Bofors case, had access to sensitive files in the Prime Minister’s Office when Rajiv Gandhi was Prime Minister and he was able to appoint ministers and top bureaucrats. Authentic sources told the Free Press Journal that he used to get information about cabinet meetings and its agenda much in advance. When he was visiting offices, ministers and bureaucrats used to get up from the chair to receive him. He was a frequent visitor to the official residence of India’s so-called royal family without security check, a privilege very few enjoyed.”Though officially Quattrocchi was the representative of the powerful Milan-based Italian company Snamprogetti, he worked as a conduit for some in receiving kickbacks and transferring them to safe havens in many deals for over a decade. “In every deal there was a cut. At least there, he was loyal to the royal family,” remarked a retired bureaucrat.He used to appoint ministers, bureaucrats, PSU executives and finalized deals which came his way, even if those were beyond his areas of expertise. The word ‘no’ perhaps did not figure in his dictionary. Soft-spoken Quattrocchi, also worked as an extra-constitutional power centre since 1980s.He got ministers and bureaucrats sacked and snubbed the most influential people of his time who challenged his authority. For Quattrocchi, it was a meteoric rise and an ignominious fall as well, as he has been disowned by the Italian company, Snamprogetti, which he represented in India and elsewhere for more than 16 years. He was known to almost all the top ranking people who mattered and his proximity to Gandhi family was the talk of the town.While the AB Bofors executive, Martin Ardbo, who negotiated the Rs 1,700 crore Bofors gun deal, mentioned him in his diary as the mysterious ‘Q’, his victims in India call him as a ‘pushing man’.He was a good PR man for Snam which won as many as 60 projects worth Rs 30,000 crore in its favor during his tenure. Today, there is nobody to save ‘Q’ in Milan, the headquarters of Snam’s holding company, “ENI.Moreover, ENI’s chief executive committed suicide in 1993 and many of its senior officers are facing police cases on charges of corruption. Snam” ‘a state-owned company of Italy, is not involved in the Bofors deal as such. But Quattrocchi’s activities as a middleman in international deals has raised many an eyebrow as far as the company’s credibility is concerned.While it is widely believed that Quattrocchi is at present a consultant to Snam in Kuala Lumpur, the company has diplomatically denied it. However, it was believed that he was operating from Snam’s India regional office when the Bofors deal was finalized in 1986.The company has clarified that it was not aware of Quattrocchi’s other alleged activities in India and maintained that he was a full time representative of the company. Even the company has said that it has no idea of Quattrocchi being wanted by the CBI which has already sought his extradition from Kuala Lumpur to prosecute him in the Bofors case.This was first noticed in 1980 when Indira Gandhi returned to power. The government had decided to award the contract for ammonia technology for RCF’s Thal plant to CFBraun of the US. But he wanted the World Bank-aided project to be awarded to Haldor Topsoe of Denmark, a sister concern of Snam. Quattrocchi played a crucial role in the appointment of PC Sethi as Petroleum Minister and tilted the deal in favor of Holder Topsoe -against the World Bank’s decision. Later, the World Bank withdrew from the project.That was his first showdown where he proved he could get what he wanted. That virtually gave a clear message to policy-makers and bureaucrats to follow Q’s line of action.He also had an encounter with Vasant Sathe, then Fertilizer Minister, over a project in Guna which till the last moment was very much in favour of Kellogg. But ‘Q’ got the decision reversed in favour of Snam. Those who toed his line were rewarded; those who did not were punished. Ti1l 1985, ‘Q’ used to resort to pressure tactic to get his work done but the real showdown took place when Snam did not get the 1,700 km long HBJ pipeline contract which went to Spie Capag of France. That perhaps was his first defeat; He wanted to punish those who stood in his way.The first to go was former Petroleum Secretary AS Gill who was very much in favor of piecemeal tenders instead of turnkey contracts to make the country self-reliant in terms of technology. That did suit ‘Q’ because India’s self-reliance in this field was bound to harm his interests.There was a standing order for implementation of Snam technology in every petroleum and fertilizer project which had been issued by the Rajiv Gandhi Government. But Gill had contested that order by showing another official order issued by Indira Gandhi where she reportedly said that there should be technology transfer in case of any foreign participation. But that did not happen in practice.Interestingly, ‘Q’ used to clarify his position a day after Gill had written to Prime Minister Rajiv Gandhi on the official file regarding technical difficulty of a particular project for clearance. “That means files were going to him accordingly:’ said a former official.Gill, who had a bright career and was all set to become the next Cabinet Secretary on the basis of seniority, told the FPJ that “there is nothing left for comment after 14 years of my retirement.”Naval Kishore Sharma, Minister of State for Petroleum, was shunted out to the All India Congress Committee as general secretary. VP Singh, who did not change evaluation norms in favor of Snam, and Arun Nehru who allegedly backed the French consortium to win a contract from Snam, had to leave both the government and the party.HS Cheema, former chairman of Gas Authority of India Limited, was removed in similar fashion. It was Quattrocchi who played a major role in removing him as chairman. “Yes, my career was a bright one all along but there was some unseen hand behind all this,” Cheema said in a telephonic interview from Solan, Himachal Pradesh to the newspaper.Former Indian Oil Corporation Chairman Venkatsubramanian, who refused to call Quattrocchi for talks, had to go even though the government was at a loss to explain the specific reason for his removal. A senior official whom Quattrocchi once offered money indirectly to get a project done, recalled, “He (‘Q’) said he can arrange Rs. two crore for the one who you like the most.” But the official got angry and asked Quattrocchi to get out of his room and never try to contact again. “That was the last time I met him. I have not received any new year greeting since then,” according to the senior official.I shall now list out all the major projects backed by Quattrocchi’s company, thanks to his proximity to Sonia and Rajiv Gandhi.Projects won by Snam/TopseProjects Location Client YearTwo Ammonia Plants ThaI Vaishet RCF 1981Three Urea Plants ThaI Vaishet RCF 1981Four Urea Plants Hazira Kribhco 1981One Gas Pipeline Hazira ONGC 1981One Ammonia Plant Una NFL 1983Two Urea Plants Guna NFL 1983One Ammonia Plant Aonla IFFCO 1984Two Urea Plants Aonla IFFCO 1984One Ammonia’plant Jagdishpur Indo Gulf 1985Two Urea Plants Jagdishpur Indo Gulf 1985One Offshore Complex ONGC 1986One Ammonia Plant Kakinada NFCL 1987One Urea Plant Kakinada NFCL 1987One Ammonia Plant Gadepan Chambal Fer 1988Two Urea Plants Gadepan Chambal Fer 1988One Ammonia Plant Babrala Tata Chem. 1988Two Urea Plants Babrala Tata Chem 1988One Gas Pipeline Network ONGC 1988One Ammonia Plant Shahjahanpur Bindl Agro 1988Two Urea Plants Shahjahanpur Bindl Agro 1988One TPA MTBE Plant Mahul BPCL 1990H-P Isobutene Plant Taloja Lubrizol 1991One Ammonia Plant Guna NFL 1994Two Urea Plants Guna NFL 1994One Ammonia Plant Aonla IFFCO 1994Two Urea Plants Aonla IFFCO 1994One Ammonia Plant Kakinada NFCL 1994Two Urea Plants Kakinada NFCL 1994One Ammonia Plant Phulpur IFFCO 1994Two Urea Plants Phulpur IFFCO 1994Let us now move from fertilizers and chemicals to armaments that became the new grazing ground for Ottavio Quattrocchi,A First Information Report was registered by Central Bureau of Investigation on January 22, 1990, under various sections of the Indian Penal Code and the Prevention of Corruption Act against Martin Ardbo, President of AB Bofors of Sweden, WN Chadha and GP Hinduja of London and others including beneficiaries of M/s AB Services Ltd of UK, alleging that they had entered into a criminal conspiracy during 1982-87 and in pursuance thereof committed offences of cheating, forgery, bribery, etc., to the extent of Swedish Kroners 319.40 million (approximately Rs 64 crore) in the matter of contract regarding supply of 410 FH- 77 guns, etc., at a total cost of SEK 8410.66 million (approximately Rs 1437.72 crore).Investigation of the case included several countries including Switzerland. During Narasimha Rao’s prime ministership, these investigations were placed on the bargaining counter. Rao bought peace with Sonia to continue in power. In an atmosphere of lull, one of the chief offenders slipped to Malaysia and has not returned till date.The governments of HD Deve Gowda and IK Gujral used the same Bofors case for counter-bargaining. First, Deve Gowda was ousted from power by the then president of the Congress, the late Sitaram Kesri to install IK Gujral as Prime Minister.But CBI investigators moved fast and secured some important documents from the Swiss Government. For a decade the most important missing link has been Ottavio Quattrotchi. Ottavio Quattrocchi remained in India from February 28, 1964, to July 29, 1993, except for a brief interval between March 4, 1966, and June 12, 1968. Ottavio Quattrocchi, thereafter suddenly left India on July 29/30, 1993, in order to escape the process of law and has not returned to India since then.Ottavio Quattrocchi was the beneficiary of the amount of commission for himself or others received by M/s AB Services from M/s AB Bofors, as practically the entire amount, i.e. PS$ 7,123,900 (approximately 97 per cent of the total) was transferred from the account of M/s AB Services to the account of M/s Colbar Investment Limited Inc. Further, he has been transferring the funds received from M/s AB Bofors frequently from one account to another and from one jurisdiction to another to avoid detection and evade the due process of law.During the proceedings before the Chamber D: Acquisition, Geneva in relation to the appeal filed by him against the execution of Letters Rogatory issued by the Court of Special Judge, Delhi (India), at the request of Central Bureau of Investigation, Ottavio Quattrocchi reportedly had even admitted to his relationship at the highest level in India.This is to be seen in the light of the fact that Bofors had paid SEK 50,463,966.00 in the name of commission to M/s AE Services on September 3, 1986, and virtually all this amount was transferred by AE Services to Quattrocchi’s Colbar Investment Ltd; Inc. in Union Bank of Switzerland, Geneva on September 16 and 29, 1986.The proximity of Ottavio Quattrocchi with the then Prime Minister of India, the contractual promise of AE Services to M/s AB Bofors to swing the deal) in their favour in a short span of time, the transfer of virtually all the commission amount (received by AE Services) to Quattrocchi’s Colbar Investments Ltd.Soon after the receipt, further transfer of funds from one account to another and from one jurisdiction to another soon after the disclosure of offences, his giving a non-existing address in the relevant bank, his contesting the execution of Letters Rogatory in Switzerland, his sudden disappearance from India after disclosure of his name by an appellant, all are the factors which prima facie show the involvement of Quattrocchi in the offence of criminal conspiracy for cheating and criminal misconduct by public servants.On receipt of crucial documents from Switzerland in January 1997, a charge sheet was filed in the Court of Special Judge, Delhi on October 22, 1999, against SK Bhatnagar, WN Chadha, Ottavio Quattrocchi, Martin Ardbo and M/s AB Bofors for trial for offences, under sections 120-H Indian Penal Code r/w section 420 Indian Penal Code and section 5(2) read with 5(1) (d) of the Prevention of Corruption Act, 1947 and substantive offences thereof.Further investigation under Section 173 (8) Criminal Procedure Code, 1973 continued. At the time of filing of charge sheet, accused Ottavi of Quattrocchi was based in Malaysia and as such, proceedings for his extradition were initiated there. After the lower court did not accede to the request of his extradition on certain preliminary technical grounds, the matter was taken up in higher courts and at present, it is pending before the Court of Appeals in Kuala Lumpur.CBI is in touch with the authorities in Italy and efforts for ascertaining the present whereabouts of Quattrocchi through Interpol and diplomatic channels are continuing.The CBI was informed by Interpol, London, on June 25, 2003, that Quattrocchi, against whom charge sheet was also filed along with others in CBI case No RC 1(A)/90- ACU-IV/SIG (Bofors case) has an amount of three million pounds (approximately ) in a UK bank account and the same was likely to be moved out very shortly. The CBI requested IP, London, to freeze the said account pending a formal Letters Rogatory. A Letters Rogatory dated July 21, 2003, was issued by the Court of Special Judge, New Delhi. The Letters Rogatory was further supplemented on certain points on July 24, 2003, by the Court.An amount of US$ 1 million and Euro 3 million held in two bank accounts i.e. Account No. 5A51516L & 5A51516M of accused Ottavio Quattrocchi held with BSI AG, 39 King Street, London EC2V 8QD were frozen by the authorities in the UK on the strength of a restraint order issued by the London High Court, Queen’s Bench Division on July 25, 2003 pursuant to Letters Rogatory issued by the Court of the Special Judge, New Delhi.The aforesaid restraint order was challenged by Ottavio Quattrocchi and the London High Court has dismissed his application for discharge of restraint order with cost of UK £ 30,000.00 vide its judgment delivered on November 24, 2003.Subsequently, an appeal was filed by Ottavio Quattrocchi in the Supreme Court of Judicature, London, against the judgment of London High Court. The Supreme Court of Judicature, London, has dismissed the said application on January 20, 2004, again with cost of UK £ 38,000.00.The authorities in the United Kingdom have also been requested by the CBI to conduct investigation into the source of aforesaid restrained funds. While the funds held in the aforesaid accounts have been restrained, the request for execution of Letters Rogatory is still pending.A request had been conveyed to the concerned authorities in UK through Interpol Division of CBI on Decmber 3, 2003, and reminder dated January 30, 2004, for execution of the aforesaid Letters Rogatory on priority and intimating the present status in the matter. But so far, no response has been received from the UK authorities in the above matter.Where did all this money come from? Why did Bofors pay such huge sums to Quattrocchi when India purchased field guns for its army? Since Sonia Gandhi has been the dearest friend of the Quattrocchi’s for over three decades and since she provided them unprecedented access to the prime minister’s office and residence for long years, she owes the country an explanation.Maruti Scandal and FERA violationsThe second and equally disturbing event is the impunity with which Sonia Gandhi violated the Foreign Exchange Regulation Act 30 years ago. This happened with the launch of a company called Maruti Technical Services Private Limited (MS’FPL) on November 16, 1970. This company was set up by her along with her brother-in-law Sanjay Gandhi to provide technical know-how for the design, manufacture and assembly of a ‘wholly indigenous motor car’.It is in the context of this company, of which she was half-owner and managing director while being an Italian national that the question of FERA violation arises.The company’s story provides valuable insights into the mind of Sonia Gandhi, who is often credited with much innocence and gullibility by those around her. The birth of MTSPL, preceded that of another company, Maruti Limited, which was to avail of the former’s ‘know-how’ to produce the cars.The Articles of Association of MTSPL named Sanjay and Sonia Gandhi as the first and permanent directors of the company, who between them held 20 shares of Rs 10 each. In other words, its paid-up capital was Rs 200 at the time of its launch. On November 21, 1970, just days after its incorporation, MTSPL entered into an agreement with Sanjay Gandhi, who owned 50 per cent of it.Under this agreement, Sanjay agreed to render ‘technical know-how’ to the company for a consideration of Rs 3 lakh. In June 1971, Maruti Limited was incorporated under the Companies Act and Sanjay Gandhi became its Managing Director. On December 15, 1971, MTSPL allotted 1500 equity shares of Rs 10 each to Sanjay Gandhi. On June 2, 1972, MTSPL entered into an agreement with Maruti Ltd, according to which MTSPL was to be paid Rs 5 Lakh in lump sum by the latter for providing the technical know-how.This document describes MTSPL, of which Sanjay and Sonia Gandhi were the only directors, as a technical company ‘which has the capability of imparting technical know-how for the design, manufacture and assembly in India of a wholly indigenous motor car’. It was also entitled to an annual technical fee of two per cent of the net sales of motor cars.Six weeks after this agreement, Maruti Ltd paid the promised Rs 5 lakh to MTSPL. Later, MTSPL kept its word and paid Sanjay Gandhi, its half owner, Rs 3 lakh in order to purchase ‘technical know-how’ from him!The next move came about a year later. MTSPL appointed the owner of its other half, Sonia Gandhi as its managing director. This happened at an ‘extraordinary general meeting of share holders’ held on January 25, 1973.Suffice it to say that Sanjay and Sonia Gandhi, the two directors, were also the only share-holders of the company at that time. Soon thereafter, MTSPL signed an agreement with Sonia Gandhi as per which she was to remain the managing director of the company for five years. She was to get a salary of Rs 2000 per month and one per cent commission on the net profits of the company, subject to a limit of 50 per cent of her annual salary plus perquisites.Sometime later, the company allotted 2000 shares to Sonia Gandhi. For some reason, this was later sub-divided into two share certificates of 1900 and 1000 shares respectively and 1900 shares were allotted to her on February 4, 1974. On the same day, 4000 shares each were allotted to Priyanka and Rahul, the two minor children of Sonia and Rajiv Gandhi.Even more fascinating was the decision of the Nehru-Gandhi family to launch yet another company, to make among other things, road rollers, and to appoint Sonia Gandhi as managing director of this firm as well. This company, called Maruti Heavy Vehicles Private Limited, had 13 shareholders but the Nehru-Gandhis had the controlling shares.This was incorporated on February 22, 1974, and Sonia Gandhi acquired 5000 shares in it. She entered into an agreement with this company on September 28, 1974, in regard to her appointment as its MD. But this agreement was not implemented and she did not draw any salary.In 1975, this road roller company too sought out Maruti Technical Services Company, in search of know-how to make road rollers. An agreement was signed on April 1, 1975, between the two companies, according to which the road roller company was to pay the know-how company two per cent of net sales of road rollers and spare parts.Did Sonia Gandhi, who was then a citizen of Italy, violate any Indian laws by becoming the managing director of an Indian company and by acquiring shares in Indian companies?Was MTSPL, which was floated by Sanjay and Sonia, competent to provide technical know-how to make ‘a wholly indigenous motor car’ and road rollers? Was Sonia Gandhi technically qualified and competent to be the managing director of such companies?A Commission of Inquiry headed by Justice AC Gupta, which probed the Maruti Scandal and submitted its report in 1978, provides the answers to all these questions. The commission’s report said SM Rege, who was Secretary of Maruti Ltd, told the commission it was known to all concerned that Sonia Gandhi was a foreign national and not a citizen of India.S Kumar, Registrar of Companies, Delhi and Haryana, said the allotment of shares of MTSPL and MHVPL to Sonia Gandhi in 1974 was in contravention of the Foreign Exchange Regulation Act, 1973 and therefore `ab initio void’. After listening to the testimony of several such witnesses, the commission concluded:“It was a fact known to all concerned that Ms Sonia Gandhi was a foreign national. In view of the provisions of the Foreign Exchange Regulation Act, 1973, which came into force on January 1, 1974, she could neither hold shares of any Indian company nor hold any office of profit in such company from the date the Act came into force without the prior approval of the Reserve Bank of India,”The commission further noted, “She tendered her resignation on January 21, 1975. It is surprising that Ms Sonia Gandhi who did not have any technical qualification should be appointed managing director of a technical company. Quite a large sum of money was paid to her on account of her salary and perquisites during the period she remained the managing director of the company.”The Gupta Commission also recorded the fact that A Banerjee, Income- Tax Officer, disallowed part of the remuneration to Sonia Gandhi as excessive “because she had no qualifications to be able to render any technical service to the company”.Among other issues, the commission went into the question of the competence of MTSPL to provide know-how to make cars and road rollers. WHF Muller, a German technician on the staff of MTSPL, told the commission that all that Maruti Ltd produced were 10 to 12 prototypes which were ‘hand-made’ and ‘fabricated/purchased in parts’ and not of the same design. They were different from one another.Yet another witness said MTSPL had no qualified graduate engineer for design on its rolls. There was no fixed and finalized design for the vehicles and no research and development facility. Yet, dealers were recruited and asked to set up show rooms “to create an impression that the appearance of the Maruti car in the market was imminent”.Two such dealers, who were given cars to exhibit in their show rooms, narrated their experience to the commission. “One had to push the car to his show room, and the other who returned the car to the Maruti garage for repairs following a brake failure while he was driving, did not get back either the car or the money (Rs 22,000 // $1 = Rs.40) he had paid for it.”The commission also spoke about the rough and ready methods used by Maruti Ltd against the dealers who wanted to back out. “One of the dealers, Mr. SC Agarwal, who terminated his agency was threatened by Sanjay Gandhi that he would be sent to jail. Mr. Agarwal had to apologize by touching Sanjay’s feet. Mr. Om Prakash Gupta of Hapur who had asked for payment of interest due to him on his security deposit was arrested under the Maintenance of Internal Security Act.”Witnesses also told the commission that MTSPL did not have any technically qualified person or specialist on road rollers. The commission, therefore, concluded: “Maruti Technical Services was not competent to render technical know-how in respect of Maruti cars. There is no evidence that it had the know-how in respect of road rollers.”The Maruti cars that are now on Indian roads came to be produced after the Central Government took over the company and brought genuine “know-how” from Japan and dispensed’ with the bogus “Italian” know-how that the company was saddled with in its formative years.In any case, the bottom line is that the contents of the Gupta Commission Report and the Voters’ List Episode provide sufficient evidence of Sonia Gandhi’s disdain for Indian laws. Regrettably, it would appear the Nehru-Gandhi family was party to these fraudulent declarations.Although an Italian citizen, she was appointed Managing Director of Maruti Technical Services Private Limited on January 25, 1973. The Foreign Exchange Regulation Act (FERA), which was debated and passed by Parliament that year, came into force on January 1, 1974.Among other things, it prohibited foreigners from owning shares or accepting appointment in Indian companies without the permission of the Reserve Bank of India. Yet, Sonia continued as Managing Director and resigned only on January 21, 1975. She had thus violated FERA for over a year. Section 56 of the Act, which listed the punishment for contravention of FERA, says that violations of this nature can attract imprisonment for periods ranging from six months to seven years.Smuggling of Indian artifacts(Dr. Subramaniam Swamy)Those who have no love for India will not hesitate to plunder her treasures. Mohammed Ghori, Nadir Shah, and the British scum in the East India Company made no secret of it. But Sonia Gandhi has been more discreet, but as greedy, in her looting of Indian treasures. When Indira Gandhi and Rajiv Gandhi were Prime Ministers, not a day passed when the PM’s security did not go to the New Delhi, or Chennai international airport to send crates and crates unchecked by customs to Rome. Air India and Alitalia were the carriers. Mr. Arjun Singh first as CM, later as Union Minister in charge of Culture was her hatchet man. Indian temple sculpture of gods and goddesses, antiques, pichwai paintings, shatoosh shawls, coins, and you name it, were transported to Italy to be first displayed in two shops owned by her sister [i.e., Anuskha alias Alessandra]. These shops located in blue-collar areas of Rivolta [shop name: Etnica] and Orbassano [shop name: Ganpati] did little business because which blue collar Italian wants Indian antiques? The shops were to make false bills, and thereafter these treasures were taken to London for auction by Sotheby’s and Christies. Some of this ill-gotten money from auction went into Rahul Gandhi’s National way into the Gandhi family account in the Bank of America in Cayman Islands.Rahul’s expenses and tuition fees for the one-year he was at Harvard, was paid from the Cayman Island account. What kind of people are these Gandhi-Mainos that bite the very hand of Bharat Mata that fed them and gave them a good life? How can the nation trust such greedy thieves?Terrorist connections(By Dr. Subramaniam Swamy)Sonia has had long connection with the Habash group of Palestinian, and has funded Palestinian families that lost their kith and kin in a suicide bombing or hijacking episode. This, Rajiv Gandhi himself told me and was confirmed to me [the funding] by Yassir Arafat when I met him in Tunis on October 17, 1990 at the request of Rajiv Gandhi. Rajiv Gandhi and I were good friends from 1978, but became very close buddies after V.P. Singh had betrayed him in 1987. We met practically every day, mostly in the early hours from 1AM to 4AM. It was at my suggestion that he made Chandrashekhar the PM. And contrary to public impression, he was not mainly responsible for the fall of Chandrashekar government in which I was a Minister.Besides the Palestinian extremists, the Maino family have had extensive business dealings with Saddam Hussein, and surprisingly with the LTTE [”the Tamil Tigers”] since 1984. Sonia’s mother Paola Predebon Maino, and businessman Ottavio Quattrocchi were the main contacts with the Tigers. The mother used the LTTE for money laundering and Quattrocchi for selling weapons to earn commissions.Sonia’s conduit to the LTTE has been and is through Arjun Singh who uses Bangalore as the nodal point for contact. There is a string of circumstantial evidence pointing to the prima facie possibility that the Maino family may have contracted the LTTE to kill Rajiv Gandhi. The family may have assured the LTTE that nothing would happen to them because they would ensure it is blamed on the Sikhs or the evidence so much fudged that no court would convict them. But D.R. Karthikeyan of the CBI who led the SIT investigation got the support of Narasimha Rao and cracked the case, and got the LTTE convicted in the trial court, and which conviction was upheld in the Supreme Court.Although on the involvement of Congress Party in the assassination, DRK soft peddled on a number of leads perhaps because he did not want political controversy to put roadblocks on his investigation as a whole. The Justice J. S. Verma Commission, which was set up as the last official act of the Chandrashekhar government before demitting office on June 21, 1991, did find that the Congress leaders had disrupted the security arrangements for the Sriperumbudur meeting. The Commission wanted further probe into it but the Rao government rejected that demand. In the meantime under Sonia’s pressure, the Jain Commission was set up by the Rao government, which tried to muddy the waters and thus exonerate the LTTE. But the trial court judgment convicting the LTTE came earlier, and that sinister effort too failed.The Maruti scam (by Arun Shourie)Maruti was one of the most odious scandals connected with Mrs Indira Gandhi and her family. The Commission of Inquiry headed by Justice A C Gupta recorded that, though she was at the time a foreigner, Sonia Gandhi secured shares in two of their family concerns: Maruti Technical Services Pvt. Ltd. (in 1970 and again in 1974), and Maruti Heavy Vehicles (in 1974). The acquisition of these shares was in contravention of the very Act that Mrs Gandhi used to such diabolic effect in persecuting her political opponents, the Foreign Exchange Regulation Act, 1973. Just another technicality!But the Mother of Technicalities, so to say, is to be found in the way Sonia Gandhi, without having any known sources of income, has become the controller of one of the largest empires of property and patronage in Delhi. The Jawaharlal Nehru Memorial Library and Museum is one of the principal institutions for research on contemporary Indian history. It is situated in and controls real estate which, because of its historical importance, cannot even be valued. The institution runs entirely on grants from the Government of India. Sonia Gandhi has absolutely no qualification that could by any stretch of imagination entitle her to head the institution: has she secured even an elementary university degree, to say nothing of having done anything that would even suggest some specialization in subjects which the institution has been set up to study. But by mysterious technicalities she is today the head of this institution. So much so that she even decides which scholar may have access to papers — even official papers — of Pandit Nehru and others of that family, including, if I may stretch the term, Lady Mountbatten.Donation of public money to Sonia controlled foundations to promote her interestsReal estate, only slightly less valuable, has been acquired on Raisina Road. The land was meant to house offices of the Congress. A large, ultra-modern building was built — the finance being provided by another bunch of technical devices which remain a mystery. The building had but to get completed, and Sonia appropriated it for the other Foundation she completely controls — the Rajiv Gandhi Foundation. The Congress(I) did not just oblige by keeping silent about the takeover of its building, in the very first budget its Government presented upon returning to power, it provided Rs 100 crores to this Foundation. The furore that give-away caused was so great that the largesse had to be canceled. No problem. Business house after business house, even public sector enterprises incurring huge losses, coughed up crores. The Foundation has performed two principal functions. The projection of Sonia Gandhi and enticing an array of leaders, intellectuals, journalists etc. into nets of patronage and pelf.But the audacity with which the land and building were usurped and funds raised for this Foundation falls into the second order of smalls when they are set alongside what has been done in regard to the Indira Gandhi National Centre for Arts.This Centre was set up as a trust in 1987 by a resolution of the Cabinet. The Government of India gave Rs. 50 crores out of the Consolidated Fund of India as a corpus fund to this Centre. It transferred 23 acres of land along what is surely one of the costliest sites in the world — Central Vista, the stretch that runs between Rashtrapati Bhavan and India Gate — to this Trust. Furthermore, it granted another Rs. 84 crores for the Trust to construct its building.The land was government land. The funds were government funds. Accordingly, care was taken to ensure that the Trust would remain under the overall control of the Government of India. Therefore, the Deed of the Trust provided, inter alia, every ten years two-thirds of the trustees would retire. One half of the vacancies caused would be filled by the Government. One half would be filled by nominations made by the retiring trustees.The Member Secretary of the Trust would be nominated by the Government on such terms and conditions as the Government may decide. The President of India would appoint a committee from time to time to review the working of the Trust, and the recommendations of the committee would be binding on the Trust.No changes would be made in the deed of the Trust except by prior written sanction of the Government, and even then the changes may be adopted only by three-quarters of the Trustees agreeing to them at a meeting specially convened for the purpose. Now, just see what technical wonders were performed one fine afternoon.A meeting like any other meeting of the trustees was convened on18 May, 1995. The minutes of this meeting which I have before me list all the subjects which were discussed — the minutes were circulated officially by Dr Kapila Vatsyayan in her capacity as the Director of the Centre with the observation, “The Minutes of this meeting have been approved by Smt Sonia Gandhi, President of the IGNCA Trust.”What did the assembled personages discuss and approve? Even if the topics seem mundane, do read them carefully — for they contain a vital clue, the Sherlock Holmes clue so to say, about what did not happen.The minutes report that the following subjects were discussed:1: Indira Gandhi Memorial Fellowship Scheme and the Research Grant Scheme.2: Commemoration volume in the memory of Stella Kramrisch.3: Sale of publications of the IGNCA.4: Manuscripts on music and dance belonging to the former ruling house of Raigarh in M P5: Report on the 10th and 11th meetings of the Executive Committee.6: Approval and adoption of the Annual Report and Annual Accounts, 1993-94.7: Bilateral and multilateral programs of IGNCA, and aid from U N agencies, Ford Foundation, Japan Foundation, etc.8: Brief report on implementation of programs from April 1994 to March 1995.9: Brief of initiatives taken by IGNCA to strengthen dialogue between Indian and Vietnam, Thailand, Indonesia, China.10: Documentation of cultural heritage of Indo-Christian, Indo-Islamic and Indo-Zoroastrian communities.11: Gita Govinda project.12: IGNCA newsletter.13: Annual Action Plan, 1995-96.14: Calendar of events. 15: Publications of IGNCA.15: Matters relating to building project.16: Allocations/release of funds for the IGNCA building project.There is not one word in the minutes that the deed of the Trust was even mentioned.This meeting took place on 18 May, 1995. On 30 May, 1995 Sonia Gandhi performed one of technical miracles. She wrote a letter to the Minister of Human Resources informing him of what she said were alterations in the Trust Deed which the trustees had unanimously approved. Pronto, the Minister wrote back, on 2 June, 1995: “I have great pleasure in communicating to you the Government of India’s approval to the alterations.”The Minister? The ever-helpful, Madhav Rao Scindia. And wonder of wonders, in his other capacity he had attended the meeting on 18 May as a trustee of the IGNCA, the meeting which had not, according to the minutes approved by Sonia Gandhi, even discussed, far less “unanimously approved” changes in the Trust Deed. And what were the changes that Sonia Gandhi managed to get through by this collusive exchange of two letters?She became President for life. The other trustees — two-thirds of whom were to retire every ten years — became trustees for life. The power of the Government to fill half the vacancies was snuffed out. The power of the Government to appoint the Member Secretary of the Trust was snuffed out; henceforth the Trust would appoint its own Member Secretary.The power of the President of India to appoint a committee to periodically review the functioning of the Trust was snuffed out; neither he nor Government would have any power to inquire into the working of the Trust.A Government Trust, a Trust which had received over Rs. 134 crores of the tax-payers’ money, a Trust which had received twenty three acres of invaluable land was, by a simple collusive exchange of a letter each between Sonia Gandhi and one of her gilded attendants became property within her total control.The usurpation was an absolute fraud. The Trust Deed itself provided that no amendment to it could come into force — on any reasonable reading could not even be initiated and adopted — without prior written permission of the Government. Far from any permission being taken, even information to the effect that changes were being contemplated was not sent to Government. An ex post “approval” was obtained from an obliging trustee. That “approval” was in itself wholly without warrant. Such sanctions are governed by Rule 4 of the Government of India (Transaction of Business) Rules, 1961. This Rule prescribes that when a subject concerns more than one department, “no order be issued until all such departments have concurred, or failing such concurrence, a decision thereon has been taken by or under the authority of the Cabinet.” Other departments were manifestly concerned; concurrence from them was not even sought. The Cabinet was never apprised.The rule proceeds to provide, “Unless the case is fully covered by powers to sanction expenditure or to appropriate or re-appropriate funds, conferred by any general or special orders made by the Ministry of Finance, no department shall, without the previous concurrence of the Ministry of Finance, issue any orders which may… (b) Involve any grant of land or assignment of revenue or concession, grant… (d) Otherwise have a financial bearing whether involving expenditure or not…”And yet, just as concurrence of other departments had been dispensed with, no approval was taken from the Finance Ministry.The Indian Express and other papers published details about the fraud by which what was a Government Trust had been converted into a private fief. Two members of Parliament — Justice Ghuman Mal Lodha and Mr. E. Balanandan — began seeking details, and raising objections.For a full two and a half years, governments — of the Congress (I), and the two that were kept alive by the Congress (I), those of Mr. Deve Gowda and of Mr. I. K. Gujral — made sure that full facts would not be disclosed to the MPs, and that the concerned file would keep shuttling between the Ministry of Human Resource Development and the Ministry of Law.As a result, Sonia Gandhi continues to have complete control over Governmental assets of incalculable value — through technicalities collusively arranged.Here is an overview of Sonia’s EmpireName of the trust Year founded Budget Function1 Rajiv Gandhi Trust 1991 Rs. 24 Crore The Trust Helps the women and the children. Also active in the field of literacy, health, aviation and science.2 Rajiv Gandhi Institute of Contemporary Studies 1992 Rs. 3 crore Study of the public policy from Rajiv Gandhi’s viewpoint3 Jawahar Bhawan Trust 1989 Unknown Registered for maintaining Jawahar Bhawan4 Indira Gandhi Memorial Trust 1985 Rs. 3 crore Organizes lecture on the occasion of the distribution of Indira Gandhi Peace Prize given once in every two years5 Jawaharlal Nehru Memorial Museum and Library 1985 Unknown This a Government committee which besides maintaining Nehru memorials organizes seminars and exhibitions6 Jawaharlal Nehru Memorial Fund 1965 Rs. 7 crore It maintains Anand Bhawan and Swaraj Bhavan in additions to providing Nehru fellowship7 Veer Bhoomi and Sriperumbdur Memorial committee 1991 by the Ministry of the Rural Development This committee which is solely handled by Sonia, manages the two memorial places associated with Rajiv GandhiRGF list of donorsOne another dimension of Sonia Gandhi’s greed for real estate and money [power has been amply exhibited in the way she acquired six trusts bearing the name of Jawahar Lal Nehru, Indira Gandhi and Rajiv Gandhi. It is a well-known fact that Jawahar Bhawan was built to house the Congress party headquarters, but the building worth hundred crores was manipulated to be the property of Rajiv Gandhi Trust of which she is a chairperson trustee for the life. It may be recalled that scores of public and private sector, undertakings were advised to pay handsome donations to RG foundation. The sample of the donors’ list along with the money is given below: (As per the list of donors published in daily Jansatta on December 14, 1992)Name AmountJ.N.M fund 1,00000.00Hindustan Times Ltd. 20,00000.00Satlaj Cotton Mills Ltd. 6,00000.00M/s J&K Industries Ltd 5,00000.00M/s Straw Products Ltd. 5,00000.00Smt. Sonia Gandhi 1,00000.00Shri G D Parthasarathi 5,00000.00Shri Bharat H. Barai 1,00000.00Dunlop India 20,00000.00Mathair & Plant India Ltd. 5,00000.00Orissa Cement Ltd. 2,00000.00Hindustan Door Oliver Ltd. 5,00000.00Shri M. R. Chabariya Charity Trust 1,00000.00ITC Ltd. 50,00000.00ANZ Grindlays Bank 6,00000.00M/s Indian Petro Chemicals Cor. Ltd. 5,00000.00Ravi’s Sant Pvt. Ltd. 1,51,000.00Click Nicson Ltd. 7,50000.00Niryat Pvt. Ltd. 10,00000.00Tamil Nadu Congress Committee (I) 2,00000.00Snow Chem India Ltd. 7,50000.00Bajaj Auto Ltd. 25,00000.00M. N. Dastoor & Company 5,00000.00M/s JCT Ltd. 12,50000.00M/S Fera Alloys Corpo Ltd 2,50000.00M/S APJ Ltd 2,50000.00M/s Simplo (E) Tea Company Ltd 2,50000.00M/s Surendra Overseas Ltd. 2,50000.00M/s Assam Frontier Tea Ltd. 2,50000.00M/s Empire Plantation (E) Ltd. 2,50000.00M/s Usha Rectifire Corp (E) Ltd. 10,00000.00M/s Prajakta Finance and Trading Pvt. Ltd. 7,50000.00M/s Kausar Engineers Pvt. Ltd. 7,50000.00M/s S G Chemical and Dyes Trading Ltd 10,00000.00Mahalakshmi Charitable Society 12,50000.00M/s Godfray Philips (E) Ltd 12,50000.00Shri SS Surjewala 1,11000.00M/s Batliboi & Company Ltd. 1,00000.00M/s Carner Sone Brands Ltd. 1,50000.00Shri Natthu Bhai Patel 1,00000.00M/s Associated Beverage & Distilleries 1,00000.00U N Mehta Charitable Trust 1,50000.00All India Congress Committee 50,00000.00M/s Indian Polaseze Comp Ltd. 5,00000.00M/s Deepak Fertilizers and Petro 3,00000.00M/s Indian Acritize Ltd. 1,00000.00Central Bank of India 2,00000.00M M Joshi Trust 5,00000.00C D Vajpayee Trust 5,00000.00K N Singh Trust 5,00000.00R Gupta Trust 5,00000.00Shri B. N. srivastava 5,00000.00Treasurer, AICC 50,00000.00Sethi Trust 15,00000.00Indo-soviet Pharmacy 1,00000.00M/s Jury Agro Chemicals Ltd. 25,00000.00M/s Vinayaka Enterprises 2,000000.00M/s Vinayaka Enterprises (Rawgandha Mint) 1,00000.00M/s Adarsh Enterprises 2,00000.00M/s Mejestic Acriviter 2,00000.00Ravi Kumar Traders 2,00000.00Shri Ram Krishna Lodge 2,00000.00Rangnath Enterprises 2,00000.00M/s Shri Ram liquor 2,00000.00Mahamahim Srhi Li pand 5,15771.00Mahanager Telephone Nigam Ltd. 10,00000.00Treasurer, AICC(I) 50,00000.00M/s Premium Exports Ltd. 2,50000.00Responsible Builders Pvt. Ltd. 10,00000.00Jyotsna Holding Pvt. Ltd., 15,00000.00Warden Armenion Church 10,00000.00Rohan Motors Pvt. Ltd., 7,50000.00Meravnazi Security 1,00000.00ONGC 1,00000.00UniPatch Ruber Ltd., 1,00000.00Shri Harshad S Mehta – Ascro Khata 6,25000.00Promor Race Asset Manage Ltd- Ascro Khata 6,25000.00Shri J H Mehta – Ascro Khata 6,25000.00Shri Ashwin Mehta – Ascro Khata 6,25000.00RPG enterprises (According to 4,18900.00(According to RGF foundation 1,83100.00M/s Borosil Glass Works Ltd 1,00000.00M/s M P Dist Ltd. 1,00000.00M/s Asian Capital Consolidated Fund 1,00000.00Shri P V Huglar 5,16000.00Shri Sitaram Kesri 25,00000.00Shri Sitaram Kesri 25,00000.00Shri Lalit Suri 50,00000.00M/s Wahwan Automotive Centre 1,23396.59Peerless General Finance & Investment 50,00000.00Setia Trust 5,00000.00Shri Sitaram Kesri 25,00000.00Shri Ravi Chawla 1,11000.00Smt Meena Ravi Chawla 1,11000.00Shri Vishal Ravi Chawla 1,11000.00Bindal Agro Chemical Ltd., 25,00000.00Fund Raising sub committee for RGF 12,33370.00All India Congress Committee (I) 25,00000.00M/s Oswal Agro Mills Ltd., 25,00000.00M/s Bindal Agro Chemical Ltd. 25,00000.00M/s Mysore Cements Ltd., 20,00000.00M/s Simco Ltd., 5,00000.00M/s coloride Ind Ltd., 15,00000.00M/s VXL Indian Ltd., 10,00000.00CESC Ltd., 37,50000.00Miscellaneous 1,15000.00Soka Glai International 5,74268.00Firozeshah Godrej Foundation 4,00000.00Treasurer, AICC (I) 25,00000.00Larsen and Toubro Ltd., 10,00000.00Dena Bank 1,00000.00Finish Development Agency (Phinida) 3,44827.59Vijayshri Liquor Company Pvt. Ltd., 5,00000.00H. Themmegowda 7,50000.00J P Narayan Swamy 5,00000.00Ravi Kumar Traders 7,50000.00The Peerless General Finance & Investment Company 25,00000.00Nobody pays any money for nothing. Most of the money has been paid by repeated reminders (read coercion)IGNCAIndia Today published a report about Indira Gandhi National Centre for Arts in its issue dated July 5, 1999. The write up exposed her manipulation, some portions are given below.“… with Congress having ruled the country the longest, it is not surprising that its president Sonia Gandhi has not only gained her family’s political inheritance but also control over its vast assets in the form of public trusts, institutions and funds. The IGNCA was set up in 1987 with a corpus fund of Rs. 50 crore, a grant of Rs. 100 crore for its grandiose yet-to-come-up edifice, 21 acres of prime land in Delhi (worth of Rs. 5,000 crore), a battery of Government officers on deputation and 15 duplex flats in the capitals Asian Games complex (worth over Rs. 1 crore each).The IGNCA’s original trust deed provided for the trustees to hold office for a period of 10 years, the Member-Secretary to be appointed by the Government and for the President of India in his capacity as the visitor to periodically review the functioning of the IGNCA. However, in May 1995 the trustees without seeking the permission of the Government made crucial changes to the trust deed. According to a document circulated by the IGNCA Workers Union, “During 1994-95, when the Congress party was facing an uncertain elections, Vatsyayan, the then Member-Secretary, got certain major changes carried out in the basic structure of the IGNCA so as to remove the role of the Government of India in the affairs of the IGNCA altogether”.The new trust deed made Sonia life president of the IGNCA and bestowed life membership on R. Venkataraman, P.V.Narasimha Rao, Pupul Jayakar, H.Y.Sharada Prasad and Vatsyayan. When Jayakar declined to accept life membership saying “Indira would be shuddering in her grave if she knew what was happening in her name”. Mahmohan Singh was drawn into the charmed coterie in her place. More significantly, the role of the President of India as visitor was done away with as was the power of the Government to appoint the member-Secretary. Kapila Vatsayayan, who till then held the post with the rank of a Secretary n the Union Government and had reached the age of superannuation, was given the rank equivalent to that of a Minister of State and re-designated Academic Director. Madhavrao Scindia, then HRD Minister, gave post facto approval to the changes without consulting either his department or others like finance, urban affairs of parliamentary affairs.Nor was the matter ever discussed by the Cabinet, then. With the IGNCA clearly violating its own original constitution, the Attorney-General believes that the so-called life president and all the life trustees were not legally exercising their authority over the institution. Moreover, despite receiving huge amounts of public money, the IGNCA does not submit itself to scrutiny of the CAG and instead has hired private Chartered Accountants to do the job. The Government insists that the IGNCA open its book for the CAG and is all set to see this matter to its logical conclusion. “We may even take over its assets if they don’t restore the original trust deed”, says a high official in the DoC. Meanwhile, notices are being issued to the IGNCA officials to vacate the Asiad Village flats where they have been overstaying without even paying the nominal Rs. 685 monthly rent. However, in a country where occupation is two-thirds of the title and political exigencies more powerful than the niceties of law, Joshi’s audacious bid to restore status quo ante in the IGNCA may prove to be difficult, if not more, than throwing out the Pakistani intruders in Kargil”.BoforsFinally the mega corruption issue – the Bofors investigation – which Sonia Gandhi never allowed to be completed. During the Narasimha Rao years, he bought peace with Sonia Gandhi on the bargaining counter in Bofors inquiry itself. The tenure of V P Singh was too short, and Chandra Shepherd was not too enthusiastic, for the probe to be completed. When Deve Gowda pushed the inquiry and then CBI chief Joginder singh was about to start the proceedings further, Sonia Gandhi saw to it that Gowda was toppled. It was again for the furtherance of the proceedings by Prime Minister I K Gujral, that the government led by him was toppled. When Vajpayee gave clearance and the papers went to the President, within a fortnight his Government was too voted out on the specific instructions of Sonia Gandhi.The CBI has enough documents to prove close linkage of ‘Q’ with Sonia and her family. The joint photographs showing Sonia Gandhi, Rajiv’s family members, and ‘Q, several travel documents which prove beyond doubt that Mr. Q’ and Sonia’s family were more closer than knowledgeable people can think of. Quattrocchi’s name is there in kick-back accounts; the remaining last leg of the inquiry is bound to catch Mr. ‘Q’ red-handed, which would in turn show the real greedy Sonia.Sonia vs. Gandhi: The controversy, the Full Page Ad in New York Times in Oct 2007 that triggered multi million dollar lawsuits against activists in US.US activists requested Sonia proxy in US, INOC (India National Overseas Congress) that Sonia is not the right person to represent Gandhi’s principles at UN on Oct 2, 2007 and not to use his name for political purposes. They requested to bring in a freedom fighter from Congress party itself. But INOC started calling activists fundamentalists and other names. About 500 NRIs gathered in front of UN when Sonia spoke on Oct 2nd, 2007 and they took out a full page Ad in New York Times Ad. In Apr 2008, INOC sued with multi 100 million dollar lawsuits which were challenged in US courts and defeated. READ THE WHOLE STORY AT Gandhi Heritage -It is an accepted fact that almost every Indian politician is corrupt if measured against Gandhian principles every Indian politician will fail on some points or other but Sonia would fail on every point. Sonia is a symbol of what Gandhi advocated against. She is trying to wear Gandhi’s cloak to cash on Gandhi’s fame and gain legitimacy. Gandhi stood for:I. Sat — which implies openness, honesty, and fairness: TruthSonia repeatedly proved her untruthfulness and dishonesty. Even in a trivial issue such as her educational qualifications she lied. Furthermore there is no public record of her ever apologizing for her mistakes.II. “Ahimsa” — refusal to inflict injury on others.Sonia is known for vengeance actions. She is known for intolerance towards party members who rejoined her party.III. “Tapasya” — willingness for self-sacrifice.There is no incidence of Sonia’s sacrifice. She sacrificed India, congress party and national icons such as Gandhi to promote herself and her children.Anybody who respects Gandhi will be against misusing his name and fame. This protest is an attempt to save Gandhi’s name and legacy from misuse..

There may not be much questions on the subject especially on mathematics, chemistry or physics.There may be questions on the following subjects:CommerceEconomicsHistoryComputer scienceIt has to be noted that the interview is conducted by only retired bank executives and the following will be their main focus when it comes to questions:BankingEconomicsCapital marketCurrent affairsRecent budgetPersonalities who are in the news recentlyRecent happenings in the field of banking, politics and money mattersPlease read the following for better guidance:Tips for Interview for recruitment as Probationary Officers in banksInstructions to candidatesThe purpose of the interview:The purpose of any interview is to select one suitable individual for the concerned post. The person to be interviewed may be having higher qualifications; however, he may not be having the requisite potentials or caliber in handling the job offered namely; better communication ability, leadership quality, emotional strength and efficient interpersonal relationship. Banking demands people who are willing to work hard by mingling with customers freely and friendly apart from maintaining a cordial; social and friendly relationship with the colleagues and superiors.Phases of the interview:The interview is conducted in four phases namely;·the first phase during the course of which questions are asked about the individual and his specialization in any area;·the second phase wherein questions are asked about the bank for which the interview is conducted;·the third phase wherein questions are asked about general banking, economy, finance and latest developments and·the fourth phase is the final round for the interview.The interview committee:The interview committee consists of three to five imminent personalities who are well versed in banking matters and normally the services of executives or retired executives of various commercial banks are utilized for the purpose of conducting the interview. The following system is adopted by the committee members during the course of interview process:·While one member poses questions to the candidate, the remaining members observe the body language of the individual as to how he reacts to the questions and especially in respect of difficult questions;·They also review as to how the candidate comes forward in presenting his answers in a crisp manner thereby providing the relevant points expected by the committee members at the shortest possible time.·Basing upon the answering ability, communication ability, level of confidence, willingness to accept challenges etc., the committee members select the individuals by awarding better gradation.·When the candidate is found to be inattentive on account of low level of self confidence or some other factors, the committee members pose provoking questions so that the candidate is emotionally provoked and aroused to come forward with appropriate answers.The interview process:The interview process consists of the following stages:·Attendance marking by the candidate at the reception committee and filling up the relevant format thereby furnishing his details;·Verification of the certificates namely; qualification certificates, experience certificates, certificates relating to extracurricular activities etc., by the reception committee/team members;·Candidate waiting at the reception hall for his turn;·Once called, candidate entering into the interview room duly seeking permission of the team members;·Candidate thanking the interview members for permitting him/her inside the cabin;·Candidate sitting on the seat once offered by one/more members in the interview committee;·Candidate thanking the person who had offered the seat;·Candidate shaking his hands with the members, if offered;·Candidate eagerly awaiting for the questions from the members;·Candidate mentally preparing himself to attend the interview with full concentration maintaining regular eye contact with the committee members;·Candidate answering the questions posed by the members enthusiastically, till the entire process is treated as completed;·Candidate collecting all certificates and documents once the interview is treated as completed;·Candidate thanking the committee members and·Candidate politely raising from the chair, walking towards the entrance, opening the cabin door and gently closing the door behind him;·Candidate meeting other candidates awaiting at the reception hall cheerfully.Dress code:·Dress code is most important aspect and a person is judged by the dress he wears. Dress makes half man.·For men: Please wear a neat full length trouser and one full length shirt – preferably white or light shaded; Usage of “T” shirts greatly dampens the image of the candidate and the purpose of using any ‘T” shirt is to have better comfort during the course of walking, relaxing, jogging, running, partying and relaxing. As such “T” shirts are not considered to be a fit wear during professional meetings including interviews. Do not wear highly dark colored and checked dresses. The candidate has to wear a good quality shoes neatly polished. If possible he can wear a “tie” and this is purely optional and certain organizations pay more attention to the personality of an individual which gets improved by way of better dressing.·For girls: Under any circumstances girls should not wear provoking dresses namely; “T” shirts, jeans pants, trousers, half gowns and shirts with messages and blouses with low cuts. A neat chudithar is considered to be the best option and wearing of sarees improves the image of the individual.A.Questions during the first phase:·Initially the candidates are invited to tell about their personal life and interests, their family members, their ambitions, their qualifications, their achievements in studies, sports, music and any other extracurricular activities;·The second question is about the place to which the candidate belongs. In case the candidate belongs to Chennai, he will be asked to tell about Chennai and the importance of the place. Necessarily the candidate should have a thorough knowledge about the place from which he is hailing;·The interviewers will pose “ice breaking questions” in order to shift the focus of the candidate. This is for the purpose of finding out the reaction of the candidate during such “focus change”. (Banks demand people who are able to face any challenges);·During the first two to three minutes, more than 80 percent of the questions will be on the personal details and basic information about the candidate. It has to be remembered that – “The first impression is the best impression” and accordingly the candidate has to behave politely, calmly, courageously and confidently.Sample questions during the first phase:·01. My dear friend, now tell us about yourself: The candidate has to inform in a crisp manner about himself, his family, his qualifications, achievements if any etc. Unnecessary details should be avoided altogether and the candidates at no cost should provide information to the committee members with an intention to derive sympathy from the committee members. Such an attitude will prompt the members either to reject or award poor marks.·02. I see – you are from Chennai – please tell me about Chennai: Since the candidate belongs to Chennai, he is invited to tell about Chennai and he should have pre-hand information about Chennai and should come forward to tell about important places in Chennai namely; Marina beach, High Court, Kabaleeswarar Temple, Metro train facilities, Santhome church, International airport, Asia’s biggest bus station at Koyembedu and many more.·03. I find that you had studied in Presidency college. What was the reason for your preference of this college?. How was your life in the college? The candidate has to tell about the college; the achievements of the college in academic scenario as well as in sports and in other areas;·04. I find that you had studied “EEE” - why you had chosen the course? The candidate has to tell about the purpose and the potential available for the students who had opted to pursue EEE course.·05. You are in Chennai for a long period. What is your opinion about Chennai?·06. You are having “EEE” in engineering and why you are willing to get employed in banks? (Your reply should be – In fact by working in a bank, I can develop my relationship with public in a better manner; improve my knowledge and provide better service to as many people as possible since the banks are purely service oriented organisations. I find that I can have more career prospects in future by getting employed in the banks)·07. What are your strengths and weaknesses? – Your answer should be: I am always willing to work hard under all circumstances and since I have a good communication ability, I hope that I can surely develop friendship with my colleagues, clients and others in a fast manner so that I can contribute better to the society.·08. You are a highly qualified person having one MBA degree apart from a degree in Engineering. What is the guarantee that you will be in the bank without shifting your attention to some other employment potential after some time?: Your reply should not be: On account of unemployment problem, I am joining the bank; Your reply should be – even though I have better qualifications, I wish to work in the banking industry because I can have better opportunities to serve for the welfare of the society by working in the bank than any other organisations.Responsibilities of the candidates appearing for the interview:The candidate should do a home work and he should always depend upon his positive straits namely; his strength, achievements and abilities and necessarily he should believe in himself that he can accept and do the job in a better manner and he should altogether avoid any negative reply or angry reply under any circumstances; even when provoked or tempted by the interview board members and the candidate should remain calm and wear a broad smile during the entire interview process.A smile has the power to keep the individual in better spirits at all times.The following question may provoke the candidate –·Dear friend, considering your personality, I find that you look like a film actor. How do you feel yourself ?(You had not at all expected this question and you are tempted to provide an apt reply to them: Your reply should be– In fact I am fond of wearing a neat dress and I take care of my health by doing physical exercises regularly apart from eating moderate food and getting into the bed at the appropriate time. I always believe in the following proverb – “Health is wealth”. An individual may not be in a position to discharge his duties properly without adequate health. The habit of eating quality food, regular exercise and better dressing are the factors which are responsible for my personality.B.Second phase of the interview process:During this phase, questions will be asked about the bank for which the candidate is appearing for the interview and the following are some sample questions in case the candidate is appearing for a post in Punjab National Bank:·Do you know – where is the head office of Punjab National Bank?·Who is the present chairman of the bank?·How many branches are there in Punjab National Bank as on date?·Can you tell me about the total business of the bank?·Can you tell me about some deposit schemes available in the bank?·What do you know about the logo of Punjab National Bank?·What is the punchline of Punjab National Bank?·What is the position of Punjab National Bank among the commercial banks in the country as on date?(It is the responsibility of the candidate to collect the necessary information about the bank for which he is appearing for the interview by visiting the website of the bank and referring other material sources in order to get the required information about the bank namely; the headquarters, number of branches, total business, profit position, important schemes, tie up with another banks, achievements of the bank, if any; the present position and ranking of the bank in terms of business, profitability, non performing assets, productivity of the employee etc., In case the candidate is appearing for a group of banks, he should have information in general about all the banks in the group)C.Third phase of the interview:During this phase, questions will be asked on general banking practices as mentioned below:The following are the questions regarding the banks in general:·Have you visited any bank branch? What was your experience?·What is the business of any bank?·What are the essential/primary functions of any bank?·What are the secondary functions of any bank?·Who can open a savings bank account?·What do you know by KYC guidelines?·Why banks insist customers in adhering to KYC guidelines?·What is the difference between Current deposit account and Savings deposit account?·What do you mean by CASA account?·Who normally opens a current account?·What do you know by a fixed deposit account?·Can a company open a savings account?·Can the director of a company open a savings account?·Who is the controlling authority for the banks in India?·What is a foreign bank?·What is meant by a public sector bank?·Which is the largest private sector bank in the country?·Which is the largest bank in the country?·You are working as an officer in savings department. The customer complains about the irritating behavior of the clerk who is working under your supervision. What will you do in this situation?·Your manager delegates some work and you are failing in doing the work within the allotted time and your manager is not happy with your performance. How will you convince your manager?·Today there is some news about annual credit policy. What do you know by that?·What do you know by reverse repo rate?·What is called as inflation?·What is rupee convertibility?·What do you know by gross domestic product?·What do you know by ASBA?·What do you know by Sensex?·What do you know by a convertible debenture?·What is an initial public offer?·What do you know by facebook – whether it is good or bad for any individual and what is your opinion?·What are the advantages and disadvantages of Whatsapp?·What is your opinion about currency demonetization and how far the process helps in improving the economy of the country?(The above questions are illustrative and not exhaustive and the candidate should know fairly well about many banking as well as general aspects)D.The fourth phase of the interview:Like the initial phase or first phase, this fourth phase is also important wherein tricky questions will be asked as mentioned below:·You are hailing from Coimbatore. In case you are posted to Chennai whether you will be willing to work at Chennai?. (Your answer: If I am posted at Coimbatore, I shall try my level best to bring more business to the bank since I know the place and people well and I can take care of family members who are dependent on me. Even otherwise, I shall discharge my duties to the best when I am posted at Chennai)·Suddenly on account of computer crash, you have to sit late – whether you will be willing to sit late and finish the job or leave early without informing your superiors? (Definitely I will never mind in sitting late and I shall always cooperate with my superiors in finishing the day to day functions of the branch. I am one among the team members and I have the responsibility to cooperate with other members during critical situations)·What information are you willing to tell about yourself? (If I am selected, I shall work hard and I shall discharge my duties to the entire satisfaction of my superiors. I shall always do the best from my side for the growth of my organization.)Selected Interview QuestiomsCandidate: 00101.Why you are willing to join in a bank?I am willing to join in a bank since I hope that I may be having more opportunities to serve the public. Banks have better career opportunities by means of periodical promotions to higher cadre.02.What do you mean by appraisal of gold loans?Gold loans are granted against the security of gold jewellery namely gold chains, necklaces etc., The jewellery apart from gold contains certain amount of copper and stones. Appraiser is a person well versed in the art of appraising the jewellery and on appraisal of the jewellery, he will be finding out the approximate gold content so that the bank may be able to provide loans against the gold content.03.What are the different kinds of term deposits available in a commercial bank?The different kinds of term deposits available in a commercial bank are – fixed deposit, recurring deposit and reinvestment deposit. In the case of fixed deposit, a fixed amount is accepted for a definite period and interest is paid on quarterly basis. In the case of reinvestment deposit which is similar to fixed deposit, interest is paid on maturity since interest is reinvested. In the case of recurring deposit, monthly instalments are accepted for a fixed period.04.What is the minimum period for which a fixed deposit is accepted and the maximum period for which a fixed deposit is accepted?The minimum period for which fixed deposit is accepted is seven days and the maximum period is ten years.05.Whether a fixed deposit can be accepted for a period more than ten years?In the case of deposits in the names of minors on account of settlement of claims, the deposit can be for more than ten years06.What do you mean by FERA?FERA means foreign exchange regulations act and it came into effect from the year 1973. An act to regulate certain payments dealing in foreign exchange, securities, the import & export of currency and acquisition of immovable property by foreigners. Under Section 31 (1) of the Foreign Exchange Regulation Act ( FERA) of 1973, it is mandatory for foreign corporations, which are not incorporated in India to obtain permission from the Reserve Bank Of India (RBI) to acquire, hold, transfer or dispose off in any manner (expect by way of lease for a period not exceeding five years) any immovable property in India.07.What do you mean by ECS?ECS means electronic clearing service and the customer can authorize on periodical basis to make payment of certain utility bills like electricity charges, water charges etc., by debiting his account till such time he submits a revocation letter. Similarly, he can authorize corporate to credit the dividends on shares and interest on debentures as and when due to the credit of his account with the bank.08.What is the minimum amount that can be sent through RTGS?The minimum amount that can be sent through RTGS is Rupees two lakhs and there is no maximum limit09.What is the maximum amount that can be remitted through NEFT?There is no or maximum limit for remittances sent through NEFT10.What is the maximum amount that can be sent abroad by any resident individual?Under liberalized remittance scheme, all resident individuals including minors are allowed to freely remit an amount upto US dollars 250000 (or its equivalent freely convertible foreign currency) per financial year11..What is the name of apex bank which is responsible for the development of agriculture in the country?NABARD is the apex bank which is responsible for the development of agriculture in the country.12.What are the different kinds of schemes available in our country aiming towards poverty alleviation?National old age pension scheme; Jawahar Gramin Samruddi Yojana; National Family Benefit scheme; Mahatma Gandhi National Rural Employment Guarantee Scheme; National Maternal Benefit Schemel Annapurna etc.,13.What do you mean by crossing of any cheque?Writing of two parallel transverse lines drawn on the face of the cheque on top left hand corner with or without any words between the lines is known as crossing and it is for the purpose of making payment of the cheque through an account in the name of the payee or holder.14.What are the different kinds of crossing?Two parallel transverse lines drawn on the face of the cheque on top left hand corner of the cheque with any words or without any words is known as general crossing and the the payment can be made to the account of the payee or holder with any bank. In case the name of any bank is mentioned within the two parallel lines, it is known as special crossing and in this case, the payment should be made to the account of the payee or holder with the bank mentioned in the crossing only and not to any other bank.15.What do you mean by CASA?CASA means current and savings and this is applicable to computerized branches linked under core banking solution16.Whose signature is available in Rs. 100/- currency note?The signature of RBI governor is available in Rs. 100 currency note17.What do you know by dividend?Dividend is the return available in the form of money for the investments made by the shareholders in the equity shares and preference shares of any company.18.Bank holidays are declared according to which act?Holidays for banks are declared according to Negotiable Instruments act 1881 by the respective state governments in their states. However, all Sundays, all second and fourth Saturdays have been declared as holidays apart from the holidays permitted for religious and national ceremonies.19.Banks are functioning according to which act?Commercial banks in the country are functioning according to Banking Regulation act 1949 and to some extent as per Reserve Bank of India act 193420.RBI is functioning in the country as per which act?Reserve Bank of India is functioning according to Reserve Bank of India act 1934.Candidate: 00201.What do you mean by a guarantee?Guarantee is an undertaking executed by one person called as guarantor in favour of another person called as beneficiary expressing his intention to make payment in the event of failure of the principal debtor on payment of a debt or failure to perform any contract within the stipulated time or according to the terms of the contract.02.What are the different types of guarantees?The different types of guarantees are financial guarantee, performance guarantee and deferred payment guarantee03.What do you mean by letter of credit?Letter of credit is an undertaking executed by one banker on behalf of its customer to honour bills and documents drawn by another person as per the terms and conditions as mentioned in the letter of credit04.What do you know by packing credit advance?It is the preshipment advance granted by one bank to the exporter for the purpose of procuring raw materials; payment of various duties like customs duty, excise duty; packing charges; shipment charges etc.,05.What do you mean by special crossing?In case the name of any bank is mentioned within the two parallel lines, it is known as special crossing and in this case, the payment should be made to the account of the payee or holder with the bank mentioned in the crossing only and not to any other bank.06.What do you know by IFSC code ?IFSC means Indian Financial System Code and this is one alphanumeric code consisting of eleven digits of which the four alphabetic digits represent the name of the bank mentioned in abridged form and the next zero is known as control number and the last six numeric digits represent the branch code of the bank.07.Which is called as mother of deposits?Savings deposit is known as mother of deposits. Normally the first time customers will be advised to open savings deposits with the bank branch before availing any other facility with the bank08.Who is a called as natural guardian?Bother mother and father are known as natural guardian for the purpose of opening accounts in the name of minors represented by the guardian.09.Whether grandfathers and grandmothers can be natural guardians?Grand fathers, grandmothers grand grandfathers or grand grandmothers cannot represent as natural guardians on be behalf of the minors10.Which type of credit facility is available to a farmer for raising crops?For raising crops, the farmers are provided with crop loans, Kisan Credit Cards etc.,11.What do you mean by NULM?National Urban Livelihoods Mission (NULM) was launched by the Ministry of Housing and Urban Poverty Alleviation (MHUPA), Government of India in 24th September, 2013 by replacing the existing Swarna Jayanti Shahari Rozgar Yojana (SJSRY).The NULM will focus on organizing urban poor in their strong grassroots level institutions, creating opportunities for skill development leading to market-based employment and helping them to set up self-employment venture by ensuring easy access to credit. The Mission is aimed at providing shelter equipped with essential services to the urban homeless in a phased manner. In addition, the Mission would also address livelihood concerns of the urban street vendors12.What do you mean by Gram Sadak Yojana?The Pradhan Mantri Gram Sadak Yojana called as PMGSY was launched by the Government of India for the purpose of providing connectivity to unconnected habitations as part of a poverty reduction strategy. Government of India is endeavouring to set high and uniform technical and management standards and facilitating policy development and planning at state level in order to ensure sustainable management of the rural roads network.13.What are the salient features of MGNREGA?MGNREGA is known as Mahatma Gandhi National Rural Employment Guarantee act and according to this employment is guaranteed at least one person per household in rural areas. It aims at enhancing the livelihood security of people living in rural areas by guaranteeing hundred days of wage employment during each financial year to a rural household whose adult members volunteers to undertake unskilled manual work14.Which authority is supervising the functions of insurance companies?IRDA – Insurance Regulatory and Development Authority is the authority responsible for supervising the functions of insurance companies in our country15.What is meant by IPO?IPO means initial public offer and this is the first time public offer of equity shares, preference shares or debentures to the public for subscription16.What is meant by ASBA?ASBA means applications supported by blocked amount. Nowadays investors are permitted to remit the amount through ASBA demand drafts drawn in ASBA accounts for the purpose of subscribing shares or debentures through initial public offer and further public offer. When the demand draft is issued, instead of debiting the amount in the account, the amount is blocked till such time the shares or debentures are allotted. On allotment, the entire amount is debited; in the case of partial allotment, the amount is debited equivalent to the value of allotment and in the case of non allotment, the entire amount is allowed for further use. For the intervening period, the depositor earns interest as applicable to the category of deposits.17.What is meant by Performance guarantee issued by any commercial bank?In the case of contracts in favour of governments, the contractors are in a position to provide a bank guarantee by a reputed commercial bank, thereby undertaking to guarantee the government department to compensate the loss on account of failure of performance of the contract by the contractor within the due date or failure to perform the contract as per the terms and conditions of the contract. This is known as performance guarantee.18.What do you mean by packing credit facility issued by any commercial bank?Packing guarantee is known as preshipment advance provided by the commercial bank to the exporter for the purpose of procuring raw materials, packing materials or making payment towards customers duty, excise duty, transportation charges etc.,19.What do you mean by notice money?Notice money is money borrowed for a period of two days and more and upto fourteen days in the call money market.20.Treasury bills are issued by which authority and what are the different kinds of treasury bills available in the country?Treasury bills are issued by central government and state governments for the purpose of mobilizing funds from the public and others towards meeting the cost of various projects. There are three kinds of treasury bills as at present namely – 91 days, 182 days and 364 days. 91 days treasury bills are issued each Friday and the notified amount is Rupees one hundred crores. 182 day treasury bills are issued during alternative Wednesdays which is non reporting week and the notified amount is Rupees 100 crores and 364 days treasury bills are issued on alterntive Wednesdays which is a reporting week and the notified amount is Rupees 500 crores.Candidate: 00301.What do you know by PIN number?PIN number is four digit number expressed in numerical characters. PIN number is used for the transactions done using debit cards and credit cards through automated teller machines and point of sale terminals.02.What do you know by PAN number?PAN number is known as permanent account number. This is used for the purpose of remittance of income tax with income tax department. Tax payers should get one PAN number by sending an application along with relevant documents and by payment of specified sum of money to Income tax department or their agencies. It is ten digit number consisting and alphapetical and numerical characters.03.What are the functions of DICGC?DICGC means Deposit Insurance and Credit Guarantee Corporation and this corporation provides deposit insurance upto an amount of Rupees one lakh per depositor per bank in the event of insolvency of the bank and it also provides small loans guarantee upto certain limits04.What is the role played by ECGC?ECGC provides guarantee support to the exporters of the country in the form of several export guarantees05.Mention the Regional Rural Banks which are functioning in Tamilnadu?The Regional rural banks which are functioning in Tamilnadu are Pandiyan Grama Bank and Pallavan Gramin Bank. Pandiyan Grama Bank has been sponsored by Indian Overseas Bank and pallavan Gramin Bank has been sponsored by Indian bank.06.What do you mean by Mergers and what are the different kinds of mergers?When two independent units merge together to form a single unit, it is known as merger. The mergers can be vertical merger, horizontal merger, reverse merger, consolidation, amalgamation etc.,07.What do you mean by horizontal merger and reverse merger?When the business functions of two units are identical in nature and when the merger takes place between those units, it is known as horizontal merger. New Bank of India merged with Punjab National Bank and both are banking organizations. Industrial Credit and Investment Corporation of India Limited was instrumental in establishing ICICI bank as per LPG norms and subsequently Industrial Credit and Investment Corporation Limited merged with ICICI Bank and when a parent unit gets merged with an ancillary unit, it is known as reverse merger.08.Which are the top two private sector banks in our country?The top private sector banks in our country are HDFC bank limited and ICICI bank limited09.Whether housing loan is a priority sector advance and if so, upto what amount?Housing loans granted are treated as priority sector advances subject to certain conditions. Loans to individuals up to Rupees 28 lakh in metropolitan centres (with population of ten lakh and above) and loans up to Rupees 20 lakh in other centres for purchase/construction of a dwelling unit per family, are eligible to be considered as priority sector provided the overall cost of the dwelling unit in the metropolitan centre and at other centres does not exceed Rupees 35 lakh and Rupees 25 lakh, respectively. Housing loans to banks’ own employees are not eligible for classification under priority sector.10.Whether educational loan is a priority sector advance?Loans to individuals for educational purposes including vocational courses upto Rupees 10 lakh irrespective of the sanctioned amount are eligible for classification under priority sector.11.What do you mean by micro, small and medium enterprises?The classification is based on original investment in plant and machinery: For micro enterprises, upto Rs. 25 lakhs for manufacturing units and Rupees 10 lakhs for service units; For small enterprises, for manufacturing units above Rupees 25 lakhs and upto Rs. 5 crores and for service units above Rupees 10 lakhs and upto Rupees 2 crores; For medium enterprises, for manufacturing units above Rupees 5 crores and upto 10 crores and for service units above Rupees 2 crores and upto Rupees five crores12.What do you mean by KYC and name any two important documents which are obtained as per KYC?KYC means know your customer guidelines and these guidelines were prescribed by RBI for new customers who are willing to open accounts with commercial banks and according to KYC, any new customer who is willing to open accounts with commercial banks should submit the photocopy of anyone of the following namely; driving licence, voter id card, AADHAARA card, passport as address proof and photocopy of anyone of the following namely; driving licence, voter id card, AADHAAR card, passport, pancard as identity proof. KYC is antimony laundering device.13.What is the present repo rate and reverse repo rate?The present repo rate is 6.25% and reverse repo rate is 5.75%14.In the case of MICR code, the middle three digits represent what?MICR code consists of nine numerical digits and the middle three numerical digits represent bank name15.PAN number consists of how many alpha characters?PAN number consists of ten digits. The first three alpha characters are random alphapetical characters between AAA to ZZZ; next one alpha character represents the category of the cardholder; the next one alpha character represents the first character of the name of the cardholder; the next four numerical digits are auto generated sequential numbers and the last one single alpha character is a check digit.16.What do you know by biometric automated teller machines?In the case of automated teller machines, the four digit numerical PIN number is used for performing transactions using debit card and credit card. In the case of biometric automated teller machines, instead of PIN numbers, anyone of the following body parts is used – left hand thumb impression; eye retina and voice recognition. In India, the left hand thumb impression is the accepted mode and these kinds of automated teller machines are known as green label automated teller machines.17.What is the criteria by which a bank is considered as largest bank?For the purpose of ranking, a bank is considered to be largest or smallest taking into consideration the business position of the bank; namely – the total deposits and total advances as at the end of March each year.18.What do you mean by commercial paper?Commercial papers are issued by well rated organizations for mobilizing funds from the public and other corporate. They are issued at a discount and they are freely negotiable by endorsement and delivery. The minimum maturity period is seven days and the corporate should have earned credit rating equivalent to P2 issued by CRISIL19.What do you mean by FCNR?FCNR means foreign currency non resident accounts. Non resident Indians and Persons of Indian origin are eligible to invest in this deposit. It is a term deposit accepted in the currencies – US dollar, Sterling Pound, Euro, Japanese Yen, Canadian dollar and Australian dollar. The minimum period of deposit is one year and the maximum period is five years and the deposit is held in foreign currencies and the interest earned is free from income tax.20.What do you mean by Escheat?He is a person who dies without leaving any legal heirs and in this case, his estate will revert to the state government.Candidate: 00401.What do you mean by money laundering?Using the banking channel for the purpose of bringing illegal money is known as money laundering.02.What do you mean by subprime lending?Mass lending by commercial banks to the borrowers without ascertaining the credit worthiness of the borrowers03.What is meant by LPG and who is responsible for introduction of LPG strategy in our country?LPG means liberalization, privatization and globalization and this was coined by Dr. Manmohan Singh, the then finance minister of our country. The salient highlights of the Liberalisation, Privatisation and Globalisation Policy in India are: Foreign Technology Agreements; Foreign Investment; MRTP Act, 1969 (Amended); Industrial Licensing; Deregulation Beginning of privatization; Opportunities for overseas trade; Steps to regulate inflation; Tax reforms; Abolition of License -Permit Raj04.What do you mean by PURA?PURA means providing urban amenities in rural areas. This concept was coined by Dr. A.P.J. Abdul Kalam, the then president of India.05.What do you know by current ratio?It is one equation between current assets and current liabilities. This ratio provides the liquidity position of the organization. When the ratio is more than one it is known as positive current ratio and the unit is having sufficient working capital and when it is less than one, the unit is found to have more current liabilities than current assets and the liquidity position is found to be very weak.06.What do you know about negotiable instruments act?In India, the negotiable instruments act was passed during 1881 which came into force with effect from March 01, 1882. Negotiable instruments means and include promissory note, bills of exchange and cheque payable to order or bearer. Promissory note, bill of exchange, cheque and demand draft are negotiable instruments.07.What do you know by MICR?MICR means magnetic ink character recognition. MICR code is available in MICR bank at the bottom of the cheque or demand draft. It consists of nine numerical digits of which the first three digits represent the centre/city; the middle three digits represent the bank and the last three digits represent the branch of the bank.08.When it comes to rural lending, which are all considered to be priority sector advances?When it comes to rural lending, the loans granted to the following are considered to be priority sector advances – Loans granted to all agriculture related activities; self help group; Differential rate of interest; Loans to SC/ST beneficiaries; Loans provided to doctors for setting up clinics in rural areas; Loans to dealers in fertilizers and pesticides; loans to dealers of springler irrigation and drip irrigation equipments etc.,09.Who is called as an authorized dealer?Authorised dealer is at present known as authorized person. Authorised person is an individual or organization permitted to deal in foreign exchange business in the country.10.What do you know by financial inclusion?Financial inclusion means the following: Providing formal banking services to poor people in urban and rural areas; Promoting the habit of money savings, insurance, pension-investment among poor people; Helping the people in getting loans at reasonable rates from commercial banks so that they do not become victims to local moneylenders11.What are the important initiatives taken through financial inclusion in the country?The following are the important initiatives taken through financial inclusion in our country: Lead banking scheme; No frill accounts; Basic savings bank deposit accounts; JANDHAN accounts; business correspondent and business facilitator facilities; Swabhiman campaign;12.What do you mean by MCLR?MCLR replaces the base rate system. RBI introduced the system with effect from 01.04.2016 in order to determine the base rate by commercial to improve the efficiency of monetary policy transmission. All rupee loans sanctioned and credit limits renewed with effect from 01.04.2016 to be priced with reference to MCLR and it will be an internal benchmark for the banks. It consists of marginal cost of funds, negative carry on account of CRR, operating costs and tenor premium. The marginal cost of funds consists of two components namely; marginal cost of borrowings and return on networth13.What are the major money market instruments?Certificate of deposits; Commercial paper; Inter Bank participation certificates; iner bank term money; Treasury bills; Bills rediscounting and call/notice money14.What are the differences between NEFT and RTGS?Both are two categories of online remittance facilities through CBS enabled branches of commercial banks. The minimum balance that can be sent through RTGS is Rupees two lakhs whereas in the case of NEFT, there is no such limit. The beneficiary gets his funds at real time and it means instantaneously without any loss of time. In the case of the beneficiary gets his funds in between batches15.Who is deciding the rate of interest for savings deposit accounts?Rate of interest for savings deposits is decided by respective commercial banks only and RBI has permitted full freedom in this connection.16.Who cannot open savings deposit accounts?Proprietorship concerns, partnership firms, limited liability partnership firms, private limited companies and public limited companies are not permitted to open savings accounts17.What is meant by memorandum of association?Memorandum of association is the parent document for any company whether it is a private limited company or private limited company. It contains the details of formation of the company, policies, objectives, registered office and more.18.What is known as power of attorney?Power of attorney is an authorization given by one person called as principal in favour of another person called as an agent authorizing the agent to perform certain activities on behalf of the principal and it can be specific power of attorney or particular power of attorney.19.In which currencies FCNR accounts can be opened in our country?FCNR account can be opened in the following currencies namely; US dollars, Sterling Pounds; Euro; Japanese Yen; Australian dollars and Canadian dollars.20.What are the differences between NRE and FCNR?NRE and FCNR accounts are opened by non resident Indians and Persons of Indian Origin in India. NRE accounts are to be opened in rupees whereas FCNR is opened in foreign currencies. NRE accounts can be opened in the form of savings account, current account, reinvestment deposit and fixed deposit whereas, FCNR account is permitted to be opened as fixed deposit or reinvestment deposit. NRE term deposits can be opened for a minimum period of seven days and maximum period of ten years. FCNR accounts can be opened for a minimum period of one year and maximum period of five years.Candidate: 00501.What do you mean by masala bonds?Masala bonds are the bonds issued for rupee denominated borrowings by Indian companies in overseas markets02.What do you mean by secondary market in our country?Secondary market pertains to capital market and it is also known as stock exchange or old issues market. Shares, debentures and bonds can be bought and sold from the stock exchange through registered brokers.03.What do you mean by fund based limits and non fund based limits?The loans provided to the borrowers in the form of term loans, overdrafts, cash credits and bills discounting limits are known as fund based limits since funds are released to the borrowers. Guarantees and letter of credits are non fund based limits since no funds are provided for the time being since they are contingent liabilities.04.What do you mean by off balance sheet items?Guarantees, letter of credits and bills sent for collection for which proceeds are yet to be realized are known as off balance sheet items05.What do you mean by closed ended scheme?This is one form of mutual fund scheme. Like initial public offer, the scheme is open for a certain period only and after which the public cannot invest their amount in the units under this scheme.06.What do you mean by open ended scheme?This is one mutual fund scheme and the units under scheme can be purchased and sold at any time07.What do you mean by overdraft facility granted by a bank?Overdraft is a facility granted by the banks towards meeting the working capital requirements of a borrower. This is provided by means of credit limit over and above the current account balance and the borrower has to pay the interest as and when due.08.What do you mean by collateral security?Collateral security is an additional security provided by the borrower in addition to the primary security. For example, in the case of vehicle loan, the car purchased out of loan is known as the prime security and the insurance policy obtained by the bank from the borrower for the sanction of this loan is known as collateral security.09.In regard to educating a customer, what are the different kinds of information boards displayed in a bank branch?The following boards are available in the bank branches – Working hours and business hours; Interest rates on various deposits; Interest rates for loans; Service charges; Time norms for various services; Details of schemes available in the branch10.Who is the present RBI Governor?The present governor of RBI is Shri Urjit Patel and he is functioning as the governor of RBI since 04th September, 201611.What do you mean by unclaimed deposits?The deposits which are not in operation for more than ten years are known as unclaimed deposits. For the purpose of this classification, the customer induced transactions are only taken into account.12.How many regional centres are available for RBI in the country?Reserve Bank of India has four regional centres at the following places – Chennai, Kolkatta, New Delhi and Mumbai.13.What do you mean by white label automated teller machines?The automated teller machines which are maintained and managed by non bank entities are known as white label automated teller machines. In our country TATA Indicash and Muthoot finance are having such machines installed at various centres.14.What are the advantages of CTS?CTS means cheque truncation scheme. This is used for clearing purpose. Normally commercial banks used to send the physical cheques through their15.What do you mean by certificate of deposits?Certificate of deposits are issued by scheduled commercial banks (except Regional Rural Banks) and all financial institutions within their umbrella limits. Individuals, corporate, companies, trusts, funds and associations can invest in certificate of deposits and they are issued for a minimum period of seven days and maximum period of twelve months in the case of commercial banks and in the case of financial institutions the minimum period is one year and maximum three years, Minimum amount for investment is Rupees one lakh and in multiples of Rupees one lakh.16.RBI is called by which names – mention four names?RBI is called by the following names – banker to banker; lender of the last resort; custodian of banks; banker to government;17.What do you mean by ways and means advances?Ways and means advances were introduced as per an agreement between Reserve Bank of India and Government and they are temporary overdraft facilities provided by RBI to central government and state governments and the purpose is to bridge the time interval of mismatch the government expenditure and receipts. The duration of the limit is ten days for central government and 14 days for state government departments.18.Who is banking ombudsman and by whom he is appointed?Banking Ombudsman is an arbitrary authority who resolves the complaints received from the customers of commercial banks in regard to bank related issues.19.What do you mean by EEFC account?Exchange Earner’s Foreign Currency account is an account maintained in an account maintained in foreign currency with an authorized dealer ; i/e/ a bank dealing in foreign exchange. Professionals, exporters, trainers etc., who are in receipt of foreign exchange for the services extended by them in foreign countries can invest the amount in EEFC account and the account will be in the form of current account and no interest is paid for the balance held in EEFC account.20.What do you know by NBFC?NBFC means non banking finance companies. It is a company registered under Indian Companies act 1956 and presently 2013 engaged in the business of providing loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by Government or local authority or other marketable securities of a like nature, leasing, hire purchase, insurance business, chit fund business etc.,Candidate: 00601.What do you mean by arbitrage?It is the process of purchase of one security from one market and selling the same security for earning a profit at the same time at another market.02.What do you mean by Bonus shares?It is the free allotment of shares in certain proportion to the existing shares held by the shareholders of a company and this is a means of providing reward to the investors for their contribution to the growth of the organization by capital investment03.What do you mean by Bull?It is a term given to a speculator on stock exchange who buys the securities in expectation of a rise in the prices. The market is called as bullish when there is a domination of buyers over the sellers04.What is known as dematerialization?Dematerialisation is the process by which shares in the physical form are cancelled and they are issued in electronic form. The certificates are known as demat shares. This process eliminates the time and manpower involved in transfer and registration of shares from the seller to the buyer05.What do you mean by moorat trading?It is the auspicious trading on a special day, say Diwali during some specified hours.06.What do you mean by rights issue?It is the issue of new shares to the existing shareholders in a fixed ratio to those already held at a price which is generally below the market price of the old shares.07.What do you mean by futures?It is a standard contract issued on an agreement to buy or sell an asset at a certain price at a certain time in future. It is an obligation on the buyer to purchase the underlying instrument and the seller to sell it.08.What do you mean by forward?The forward is a contract that is traded off the stock exchange and it is self regulatory and has certain flexibility unlike future which are traded at stock exchange only and it do not have flexibility of quantity and quality of commodity to be delivered and these are regulated by Securities Exchange Board of India, Reserve Bank of India or other agencies.09.What do you mean by factoring?Factoring is an arrangement in which short term domestic receivables on sale of goods or services are sold to a company called as factor and this scheme came into existence during 1991 based on the report of Kalyanasundaram Committee10.What do you mean by forfeiting?Forfaiting represents the purchase of obligations, which fall due at some future date and arise from the delivery of goods in export transactions, without recourse to the previous holder of the obligations.11.What do you mean by leasing?A lease is a contract where the owner of the assets transfers the right to another person to use the assets against the payment of fixed lease rentals. In the case of one lease contract, there are two parties namely – the lessor or the owner and the lessee or user. The lessor remains owner and the leased property remains with the possession of the lessee.12.What do you mean by debt market?It is a market wherein the debt instruments are issued to the public by any company for investment and such debt instrument bears a fixed interest rate payable half yearly on specific dates and principal amount repayable on particular date on redemption. Debentures are normally secured/charged against the asset of the company in favour of debenture holder. The following are some debt instruments – debenture; bond; zero coupon bond; convertible bond; security receipts etc.,13.What do you mean by greenshoe option?It is an option provided by Securities and Exchange Board of India to a company which is coming out with one initial public offer to the public. By this option, the company can retain certain portion of the applications received through IPO in case of oversubscription.14.What do you mean by equity market?Equity market consists of investment by the public in different kinds of shares issued by the company and by subscribing for the shares, the investors are expressing their willingness to stand as owners of the company. The equity market consists of equity shares, preference shares, rights shares, bonus shares etc.,15.What do you mean by sweat equity?Directors and employees contribute intellectual property rights to the company in the form of providing technical know-how captured by way of research or contributed by way of strategy software developed for the company or adding profit and economic value. To compensate the directors and employees, the concept of sweat equity has come into existence.16.What do you mean by participatory notes?A participatory note is a financial derivative instrument issued against an underlying security and it allows the holder, to get dividend or capital gains earned from the underlying security although some of the holders may not be eligible to trade in stock markets in India.17.What do you mean by book building?Book building is the process to assess the demand for a particular public issue of various prices, based on which the issue is priced and sold to the investors.18.What do you mean by sensex?It is a stock market index provided by Bombay Stock Exchange for the information of the investors. The positive or negative variation in the index provides an insight for investment or dis-investment to the general public and especially the investors in the stock market. It is based on the market capitalization of top thirty shares earmarked by BSE19.What do you mean by Nifty?It is a stock market index provided by National Stock Exchange for the information of the investors. The positive or negative variation in the index provides an insight for the investment or dis-investment to the general public and especially the investors who are participating in stock market trading. It is based on the market capitalization of top fifty shares earmarked by NSE20.What do you mean by swap?A swap is a contract that binds two counterparties to exchange the different streams of payments over the specified period at specified rate.