When both the recovery fund and education fund balance reach $50,000, what occurs?

When both the recovery fund and education fund balance reach $50,000, the proper action taken is to cease the collection of annual fees. This is based on the established regulations governing these funds. The intent behind this policy is to ensure that once the funds have reached a sufficient balance to serve their purpose—supporting education and providing recovery for aggrieved parties—there is no need to continue accumulating fees from real estate professionals. Therefore, the commission recognizes that continued fee collection is unnecessary and can place an undue financial burden on licensed individuals in the industry, so the practice of collecting these annual fees will be halted at that point.

This decision aligns with promoting a balanced and fair regulatory environment for real estate brokers and agents within Wyoming, ensuring that funds are managed responsibly while also considering the economic impacts on practitioners.