Bill No.: SF0119                  Drafter:  JDA

LSO No.:  11LSO-0496              Effective Date:  7/1/2011

Enrolled Act No.:  SEA0056

Chapter No.:       104

Prime Sponsor:     Senator Johnson

Catch Title:       Real estate brokers and salesmen revisions-2.

Subject:  Revisions to the Real Estate License Act

Summary/Major Elements:

This act:

● Makes technical and clean-up revisions throughout the Real Estate License Act.

● Provides new definitions used throughout the Act.

● Provides a definition of "real estate activity" and clarifies that no person may participate in real estate activity without being licensed under the Act.

● Clarifies the qualifications, authorized activities and duties of responsible brokers, associate brokers and salesmen and specifies the licensure requirements for each.

● Revises the process and requirements for licensure of nonresidents under the Act.

● Amends the penalties for violation of the Act.

● Repeals unnecessary provisions.