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H04762020 Regular SessionSigned into law

Amends existing law to clarify provisions regarding the availability of real estate brokers and to remove provisions regarding broker and branch manager absences.

REAL ESTATE BROKERS -- Amends existing law to clarify provisions regarding the availability of real estate brokers and to remove provisions regarding broker and branch manager absences.

REAL ESTATE BROKERS

STATEMENT OF PURPOSE

The purpose of this proposed legislation is to eliminate a section of the code which requires a broker's physical presence in the office at certain intervals. Brokers are required to properly supervise their sales associates, regardless of their location. Technology advances have made it possible for brokers to supervise contracts electronically, the physical presence requirement created unnecessary restrictions for the business models of some brokerage companies. In order to protect the consumer in a real estate transaction, language was added to clarify the broker's responsibility to be reasonably available to answer questions and complaints

HOW THEY VOTED

house Chamber· Feb 21, 2020

House Third Reading

✓ Passed
68 Yea
0 Nay
2 absentPassed by 97.14 votes

ABSENT / NOT VOTING (2)

LATEST ACTION

Reported Signed by Governor on March 11, 2020 Session Law Chapter 106 Effective: 07/01/2020

BILL INFO

Session
2020
Chamber
house
Status date
Mar 12, 2020

DOCUMENTS

LINKS

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