2012 Indiana Code
TITLE 25. PROFESSIONS AND OCCUPATIONS
ARTICLE 34.1. REAL ESTATE BROKERS AND SALESPERSONS
CHAPTER 1. DEFINITIONS AND GENERAL PROVISIONS

IC 25-34.1
ARTICLE 34.1. REAL ESTATE BROKERS AND SALESPERSONS

IC 25-34.1-1
Chapter 1. Definitions and General Provisions

IC 25-34.1-1-1 Version a
Short title
Note: This version of section effective until 7-1-2014. See also following version of this section, effective 7-1-2014.
Sec. 1. This article shall be known as the "Real Estate Broker and Salesperson Licensing Act."
As added by Acts 1979, P.L.248, SEC.1.

IC 25-34.1-1-1 Version b
Short title
Note: This version of section effective 7-1-2014. See also preceding version of this section, effective until 7-1-2014.
Sec. 1. This article shall be known as the "Real Estate Broker Licensing Act."
As added by Acts 1979, P.L.248, SEC.1. Amended by P.L.127-2012, SEC.6.

IC 25-34.1-1-2 Version a
Definitions
Note: This version of section effective until 7-1-2014. See also following version of this section, effective 7-1-2014.
Sec. 2. As used in this article:
(1) "Person" means an individual, a partnership, a corporation, or a limited liability company.
(2) "Commission" means the Indiana real estate commission.
(3) "Real estate" means any right, title, or interest in real property.
(4) "Broker" means a person who, for consideration, sells, buys, trades, exchanges, options, leases, rents, manages, lists, or appraises real estate or negotiates or offers to perform any of those acts.
(5) "Salesperson" means an individual, other than a broker, who, for consideration and in association with and under the auspices of a broker, sells, buys, trades, exchanges, options, leases, rents, manages, or lists real estate or negotiates or offers to perform any of those acts.
(6) "Broker-salesperson" means an individual broker who is acting in association with and under the auspices of another broker.
(7) "Principal broker" means a broker who is not acting as a broker-salesperson.
(8) "License" means a broker or salesperson license issued

under this article and which is not expired, suspended, or revoked.
(9) "Licensee" means a person who holds a license issued under this article. The term does not include a person who holds a real estate appraiser license or certificate issued under the real estate appraiser licensure and certification program established under IC 25-34.1-3-8.
(10) "Course approval" means approval of a broker or salesperson course granted under this article which is not expired, suspended, or revoked.
(11) "Licensing agency" means the Indiana professional licensing agency established by IC 25-1-5-3.
(12) "Board" refers to the real estate appraiser licensure and certification board established under IC 25-34.1-8-1.
(13) "Commercial real estate" means a parcel of real estate other than real estate containing one (1) to four (4) residential units. This term does not include single family residential units such as:
(A) condominiums;
(B) townhouses;
(C) manufactured homes; or
(D) homes in a subdivision;
when sold, leased, or otherwise conveyed on a unit-by-unit basis, even if those units are part of a larger building or parcel of real estate containing more than four (4) residential units.
(14) "Out-of-state commercial broker" includes a person, a partnership, an association, a limited liability company, a limited liability partnership, or a corporation that is licensed to do business as a broker in a jurisdiction other than Indiana.
(15) "Out-of-state commercial salesperson" includes a person affiliated with an out-of-state commercial broker who is not licensed as a salesperson under this article.
As added by Acts 1979, P.L.248, SEC.1. Amended by Acts 1982, P.L.113, SEC.79; P.L.132-1984, SEC.42; P.L.186-1990, SEC.11; P.L.183-1991, SEC.5; P.L.128-1994, SEC.1; P.L.64-2004, SEC.16; P.L.2-2005, SEC.71; P.L.1-2006, SEC.479.

IC 25-34.1-1-2 Version b
Definitions
Note: This version of section effective 7-1-2014. See also preceding version of this section, effective until 7-1-2014.
Sec. 2. As used in this article:
(1) "Person" means an individual, a partnership, a corporation, or a limited liability company.
(2) "Commission" means the Indiana real estate commission.
(3) "Real estate" means any right, title, or interest in real property.
(4) "Broker" means a person who:
(A) for consideration, sells, buys, trades, exchanges, options, leases, rents, manages, lists, or appraises real estate or

negotiates or offers to perform any of those acts; and
(B) is acting in association with and under the auspices of a managing broker.
(5) "License" means a broker license issued under this article and which is not expired, suspended, or revoked.
(6) "Licensee" means a person who holds a license issued under this article. The term does not include a person who holds a real estate appraiser license or certificate issued under the real estate appraiser licensure and certification program established under IC 25-34.1-3-8.
(7) "Course approval" means approval of a broker course granted under this article which is not expired, suspended, or revoked.
(8) "Licensing agency" means the Indiana professional licensing agency established by IC 25-1-5-3.
(9) "Board" refers to the real estate appraiser licensure and certification board established under IC 25-34.1-8-1.
(10) "Commercial real estate" means a parcel of real estate other than real estate containing one (1) to four (4) residential units. This term does not include single family residential units such as:
(A) condominiums;
(B) townhouses;
(C) manufactured homes; or
(D) homes in a subdivision;
when sold, leased, or otherwise conveyed on a unit-by-unit basis, even if those units are part of a larger building or parcel of real estate containing more than four (4) residential units.
(11) "Out-of-state commercial broker" includes a person, a partnership, an association, a limited liability company, a limited liability partnership, or a corporation that is licensed to do business as a broker in a jurisdiction other than Indiana.
(12) "Out-of-state commercial salesperson" includes a person affiliated with an out-of-state commercial broker who is not licensed as a broker under this article.
(13) "Managing broker" refers to a broker whom the commission holds responsible for the actions of licensees who are affiliated with the managing broker.
As added by Acts 1979, P.L.248, SEC.1. Amended by Acts 1982, P.L.113, SEC.79; P.L.132-1984, SEC.42; P.L.186-1990, SEC.11; P.L.183-1991, SEC.5; P.L.128-1994, SEC.1; P.L.64-2004, SEC.16; P.L.2-2005, SEC.71; P.L.1-2006, SEC.479; P.L.127-2012, SEC.7.

IC 25-34.1-1-3
Nonconflicting rules to remain in effect
Sec. 3. All rules adopted under the former IC 25-34 and in effect on December 31, 1979, which are not in conflict with this article shall remain in effect under IC 25-34.1 until they are amended or repealed.
As added by Acts 1979, P.L.248, SEC.1. Amended by P.L.3-1990,

SEC.91.

IC 25-34.1-1-4
Term of license

Effective 7-1-2014.

Sec. 4. Beginning July 1, 2014, licenses issued under this article are for a term of three (3) years.
As added by P.L.127-2012, SEC.8.