Bill No.:         SF0080                                               Drafter: LGC

LSO No.:       14LSO-0303                                     Effective Date: Immediate

Enrolled Act No.:    SEA0056

Chapter No.:                        CH0118

Prime Sponsor:       Senator Anderson, J.L. (SD28)

Catch Title:              Real estate licensure-revisions.

Subject:                     Real estate licenses.

Summary/Major Elements:

· Under current law, a real estate company may designate a licensee for in house real estate transactions if the salesman is under the direct supervision of a responsible broker and the responsible broker is not a party to the transaction or a transaction manager.

· This bill amends the requirement to require that the designated licensee must be:

· A salesman under the direct supervision of the responsible broker and the broker is not a party to the transaction; or

· A salesman who is under the direct supervision of a transaction manager.