24.210.803    PROPERTY MANAGEMENT DEFINITIONS

The terms used in this chapter shall have their common meaning as used in the property management industry and, unless the content otherwise requires, the following meanings shall also apply:

(1) "Salaried employee" as used in Title 37, chapter 51, part 6, MCA, means an individual employed by an owner to manage the property of that owner. This term does not include an unlicensed real estate or property management secretary or the holder of a similar position employed to manage many owners' property for a single broker or property manager.

(2) "Board" means the Board of Realty Regulation provided in 2-15-1757, MCA.

 

History: 37-1-131, 37-51-203, MCA; IMP, 37-51-102, 37-51-602, MCA; NEW, 1993 MAR p. 1909, Eff. 8/13/93; AMD, 1999 MAR p. 405, Eff. 3/12/99; TRANS, from Commerce, 2005 MAR p. 2455; AMD, 2012 MAR p. 1776, Eff. 9/7/12.