E Recodifying and modifying certain real estate brokers and + salespersons provisions ARTICLE 1 � CHANGES IN REAL ESTATE LAWProhibiting table funding; expanding mortgage originator contract +requirements to disclosure of cancellation rights and procedures; requiring +control of trust accounts by unaffiliated accountants, attorneys or bank +officers or employees; subjecting lenders causing unreasonable delay in +processing mortgage loan applications to a penalty equal to the amount of +borrower out of pocket damages; clarifying certain property seller disclosure +requirements; modifying a certain provision prohibiting waiver of the rescission +period relating to purchaser right to cancel; providing for declaratory +cancellation of purchase agreements ARTICLE 2 � RECODIFICATIONRecodifying certain provisions regulating real estate licensees; +clarifying the definition of real estate broker and defining certain additional +terms; clarifying a certain exemption from the prohibition on commission +splitting and rebates; eliminating the requirement for real estate brokers to +disclose agency relationships to sellers and prohibiting the guaranteeing of future +profits and the discouragement of prospective parties from seeking attorney +services; prohibiting certain fraudulent, deceptive and dishonest practices; +regulating the payment of compensation to licensees; expanding or modifying +certain disclosure requirements; modifying certain licensing provisions; +specifying conditions for issuance of additional brokers licenses; requiring +applicants for a real estate salespersons license to submit to the commissioner +of commerce a copy of the course completion certificate; specifying a +time limit to apply for a brokers license after successful completion of the +examination, exception; authorizing the commissioner to require further +information for licensing purposes; authorizing and providing for automatic transfer +of salespersons licenses under certain conditions, providing for +effectiveness, authorizing certain electronic communications; requiring licensees to+ notify the commissioner of civil judgments, disciplinary actions and +criminal offenses; authorizing and providing for commissioner issuance of +temporary brokers permits under certain conditions and for licensee or +applicant withdrawal of licenses or applications; providing for the computation+ of time or duration for performance of certain activities; prohibiting the +acceptance of cash in payment for services; requiring and providing for refund +of fee overpayments; authorizing the commissioner to waive the real estate +licensing experience requirement for the brokers examination and to revoke or +suspend licenses for failure to file timely renewal applications; exempting +certain previously licensed salespersons from certain instruction and license cancellation requirements; eliminating the authority of the +commissioner to approve certain courses of study; requiring notice to the +commissioner of changes in licensing information and return to the commissioner of +licenses cancelled for failure to complete postlicensing education +requirements within a certain number of days; specifying the required score for a passing +grade on examinations; modifying certain continuing education and trust +account requirements; regulating guaranteed sale programs; authorizing +commissioner license revocation or application denial by order under certain +conditions; regulating loan brokers, specifying certain recordkeeping and +disclosure requirements; regulating negotiations; requiring rental services to +obtain a real estate brokers license before engaging in business and +regulating the disclosure of rental unit information; specifying certain standards +of conduct for real estate offices, authorizing license denial, suspension or +revocation or licensee censure for failure to comply; requiring brokers to +annually inform the commissioner of compliance with certain requirements relating to +unclaimed property; specifying certain renumbering and cross reference change instructions to the revisor of statutes; repealing certain rules +regulating loan brokers (mk, ja)