How much are licensees required to pay to the education, research, and recovery fund at each license renewal?

A licensee in Minnesota is required to pay $20 to the education, research, and recovery fund at each license renewal. This fund is crucial because it supports various educational initiatives, research activities, and provides recovery assistance to consumers who may have incurred losses due to the actions of a real estate licensee. The amount is set by regulatory standards to ensure that there are adequate resources for these purposes, and it reflects the ongoing commitment to maintaining high standards within the real estate profession. Understanding this obligation helps licensees comply with regulatory requirements and contributes to the overall integrity of the real estate industry in Minnesota.