Montana License Law
A Montana licensee who receives a complaint that they violated the Code of Ethics should understand that the Code of Ethics is enforced by:
AThe Montana Board of Realty Regulation (MBORR)
BThe National Association of Realtors (NAR) through local board ethics committees, separate from state license law enforcement✓ Correct
CThe Montana Supreme Court
DThe federal Department of Housing and Urban Development
Explanation
The NAR Code of Ethics is a professional standard enforced by local Realtor associations through their ethics processes. It is separate from Montana license law, which is enforced by the MBORR.
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Key Terms to Know
Transfer Tax
A tax imposed by state or local governments when real property ownership is transferred, typically based on the sale price.
VarianceOfficial permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.
Fair Housing ActFederal law prohibiting discrimination in the sale, rental, or financing of housing based on race, color, national origin, religion, sex, disability, and familial status.
State-Specific Concepts
License Law
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