The terms used in this chapter shall have their common meaning as used in the property management industry and, unless the content otherwise requires, the following meanings shall also apply:

(1) "Salaried employee" means an individual employed by an owner to manage the property of that owner. This term does not include an unlicensed real estate or property management secretary or the holder of a similar position employed to manage many owners' property for a single broker or property manager. Property manager is one who is engaged in property management as defined in 37-51-602 , MCA.

(2) "Board" means the Board of Realty Regulation provided in 2-15-1867 , MCA.