10.1 State, Federal, & Regulatory Agencies

The basis for ethical conduct and practice in the real estate industry often has its roots in laws passed at the federal and state levels or rules created by regulatory agencies based on legislation. The Code of Ethics and the state laws governing the practice of real estate may often overlap. Most conduct that is prohibited by law is also unethical. Most conduct that is not prohibited by law is probably ethical. However, there may be some "gray area" in which conduct may not be explicitly prohibited by law, but may still be considered unethical. The Company is regulated by state, federal and self-governing regulatory agencies. Company policy is to cooperate and adhere to the rules, laws, and regulations of these agencies.