In how many days must notification to the commission be made from the date of the last party's demand?

The requirement for notifying the commission within a specific timeframe after the last party's demand is crucial for maintaining compliance with regulatory standards in real estate transactions. In this case, the correct answer is 15 days.

This timeframe is designed to ensure that all parties involved in a transaction have an opportunity to settle any disputes or fulfill any demands efficiently. The law establishes this 15-day notification window to promote accountability and transparency among agents and their clients. Meeting this deadline allows the commission to monitor and respond to issues promptly, thereby upholding the integrity of the real estate profession.

When parties fail to adhere to this timeframe, they may encounter complications or delays in resolving disputes, leading to potential legal and financial ramifications. Thus, understanding this requirement helps agents and parties involved in real estate transactions remain compliant and effective in their dealings.