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Press Release, Real Estate Attorney

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					PRESS RELEASE
Department of Consumer Protection
165 Capitol Avenue
Hartford, CT 06106
                                                                           Edwin R. Rodriguez
Contact: Claudette Carveth                                                 Commissioner
          Director of Communications
e-mail: Claudette.carveth@po.state.ct.us
Tel: 860-713-6022 Fax: 860-713-7246
Web Site Address: www.ct.gov/dcp                                           Date: August 17, 2005



    CONNECTICUT REAL ESTATE COMMISSION OFFERS AMNESTY TO UNLICENSED
                           BROKER COMPANIES

HARTFORD, August 17 -- The Connecticut Real Estate Commission recently voted to establish a period of
amnesty for real estate business entities that are not properly licensed by the Connecticut Department of Consumer
Protection, (DCP) the agency announced today.

“Due to a popular misconception in the state’s real estate industry, many companies are merely operating pursuant
to an individual broker’s license, when in fact the law requires separate licensure of any business entity, such as
corporations, limited liability companies or partnerships,” DCP Deputy Commissioner Jerry Farrell, Jr. said. “This
is an opportunity for the industry and the regulating body to close this gap in understanding.” Farrell has been
spearheading the amnesty effort, due to his prior work as a private attorney in the field of real estate and corporate
law.

In most cases, real estate brokerage businesses have become incorporated or have filed Articles of Organization to
become a limited liability company (LLC), thereby allowing recognition of the business entity by the Office of the
Secretary of State. However, many businesses have not taken the required additional step to license their legal
entity with the Department of Consumer Protection’s Real Estate Commission, pursuant to C.G.S. Sec. 20-312 (b).

By failing to take that next step, those companies are engaging in the business of real estate as an unlicensed legal
entity, and they and their broker-owners are subject to enforcement action by the Real Estate Commission.

The amnesty period for unlicensed legal entities to become licensed runs until the end of 2005. During this period,
no fines or penalties will be assessed against legal entities that come forward to become properly licensed. To
qualify, a completed license application for a legal entity, along with all other documents and fees required must be
received no later than December 31, 2005 at the Department of Consumer Protection, Real Estate Licensing Unit,
165 Capitol Avenue, Hartford, Connecticut 06106.

The application for a legal entity license is available on the Department of Consumer Protection’s website:
www.ct.gov/dcp. Follow links to Real Estate Licensing. The necessary form is entitled, “Application for a Legal
Entity to Become a Broker or Reinstate.”

Please note: the amnesty program does not apply to businesses that were properly licensed at one time, but have
since failed to renew or reinstate their entity license.

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