Electronic disclosure of all Affiliated Business Arrangements required by Colorado Division of Real Estate

In an email issued today, the Colorado Division of Real Estate announced that the required disclosure of all Affiliated Business Arrangements may now be made electronically.  The disclosure is required by state law, and Rules E-22 and E-46 were changed this past year to implement the changes. Users will need to create an online account and then are required to disclose any ABA when any of the following occurs;

1. A licensee enters into an affiliated business arrangement
2. Any time a licensee changes affiliated business arrangements
3. A licensee applies for a license
4. A licensee changes status from inactive to active
5. Any time a licensee transfers from one brokerage firm to another

In addition, Employing Brokers are required to make disclosure annually.  It may be important to note that a separate form is required for each ABA. The online ABA disclosure replaces the previous paper disclosures discussed in an earlier Newslog post. You may register or log in to the new ABA disclosure page online at the Division web site or by clicking here.