§ 442-k. Powers and duties of the state real estate board. 1. The
state real estate board shall have the power to promulgate rules or
regulations affecting brokers and sales persons in order to administer
and effectuate the purposes of this article, except that matters
pertaining to commingling money of a principal, rendering accounts for a
client, managing property for a client, broker's purchase of property
listed with him or her, inducing breach of contract of sale or lease,
and records of transactions to be maintained are reserved for the
exclusive regulatory authority of the secretary of state. The secretary
of state, and not the state real estate board, shall promulgate rules
and regulations to administer or implement the provisions of sections
four hundred forty-one and four hundred forty-two-h of this article. In
addition, the secretary of state shall have exclusive regulatory
authority to promulgate rules regarding the duties and responsibilities
of real estate brokers and salespersons with regard to the handling of
clients' funds.

2. Authority to examine applicants. The board is empowered to
prescribe the content for the courses of study for the examination and
education of persons licensed under this article. The board shall advise
the secretary of state on policies governing the administration of the
examinations.

3. Approval of schools. The board shall establish the rules and
regulations governing the approval by the secretary of state of schools
to offer or conduct courses required either for licensure under this
article or for the satisfaction of the continuing education requirements
contained in paragraph (a) of subdivision three of section four hundred
forty-one of this article.

4. Study of laws and regulations. The board shall study the operation
of laws and regulations with respect to the rights, responsibilities and
liabilities of real estate licensees arising out of the transfer of
interests in real property and shall make recommendation on pending or
proposed legislation affecting the same, with the exception of
legislation affecting section four hundred forty-two-h of this article.

5. Enforcement programs and activities. The board shall advise and
assist the secretary of state in carrying out the provisions and
purposes of this article and make recommendations concerning the
programs and activities of the department in connection with the
enforcement of this article.

6. Administration and enforcement. The department of state shall have
the power and its duty shall be to administer and enforce the laws and
regulations of the state relating to those activities involving real
estate for which licensing is required under this article and to
instruct and require its agents to bring prosecutions for unauthorized
and unlawful practice.

7. Reports to legislative committees. The board shall submit annually
a report to the judiciary committee of the state assembly and the
judiciary committee of the state senate, containing a description of the
types of complaints received, status of cases, and the length of time
from the initial complaint to any final disposition.