§ 34-38-4 - Department investigation. - Rhode Island Statutes

SECTION 34-38-4

   § 34-38-4  Department investigation. –The department may, prior to issuing any license under this chapter to anyperson or broker, fully investigate all information placed before it under§ 34-38-3 and in addition it may carry out a physical examination,investigation, or inspection of any subdivision which is the subject of theapplication. In addition, the department shall secure a written appraisal ofthe value of the properties to be offered both in their existing condition andafter promised improvements, if any, from not less than one nor more than five(5) real estate appraisers who are not employees of the seller or any of itscompetitors, and who shall be selected by the department. All reasonableexpenses incurred by the department in carrying out the examination,investigation, or inspection or securing the appraisals shall be paid by theapplicant and no license shall be issued until the expenses have been fullypaid.