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House Bill 1339


House Bill 1339

ARCHIVE (2006)

Latest Information

 

DIGEST OF HB1339 (Updated March 2, 2006 4:58 pm - DI 84)


Real estate broker and salesperson licenses. Provides that the fee that the real estate commission is required to establish to fund the investigative fund must be at least ten dollars. (Under current law, the fee may not be more than ten dollars). Requires a licensed salesperson or real estate broker who is convicted of a crime to send a copy of the judgment of conviction to the real estate commission not more than 30 days after the date of the conviction. Provides that: (1) the real estate commission may discipline a licensed salesperson or real estate broker who is convicted of a crime that substantially relates to the practice of real estate; and (2) a certified copy of a judgment of a conviction from a court is presumptive evidence of a conviction. Provides that the amount by which the balance in the investigative fund exceeds $750,000 at the end of the state fiscal year reverts to the state general fund. (Under current law, the amount by which the balance exceeds $500,000 reverts to the state general fund.) Requires the attorney general and the professional licensing agency to enter into a memorandum of understanding to administer and enforce the law concerning the licensing of real estate brokers and salespersons, and provides for the memorandum to be reviewed annually by the real estate commission. Provides that a licensed salesperson or real estate broker who does not have an agency relationship with the individual with whom the licensee is working due to the existence of a written agreement to the contrary has certain duties. Provides that if those duties are performed by another licensed salesperson or real estate broker, the other salesperson or real estate broker does not have an agency relationship with the individual as a result of performing the duties.
Current Status:
 Law Enacted
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