Synopsis As Introduced Amends the Real Estate License Act of 2000. Requires a sponsoring broker that maintains more than one office within the State to notify the Department of Financial and Professional Regulation on forms prescribed by the Department (rather than apply for a branch office license) for each office other than the sponsoring broker's principal place of business. Requires the brokerage license (rather than the branch office license) to be displayed conspicuously in each branch office. Removes a reference to "education provider branches". Effective January 1, 2019.
Replaces everything after the enacting clause. Amends the Auction License Act, the Home Inspector License Act, and the Real Estate Appraiser Licensing Act of 2002. Provides that the Department of Financial and Professional Regulation shall establish a continuing education completion deadline for renewal applicants and require proof of completion of continuing education requirements before the renewal of the license as required by rule. Amends the Real Estate License Act of 2000. Makes changes to the definitions of "blind advertisement", "broker", and "person". Requires every partner of a partnership, limited liability partner of a limited liability partnership, and every member or manager in the limited liability company that actively participates in the real estate activities to hold a license as a managing broker or broker to be granted a license or engage in the business. Provides that all nonparticipating owners or officers of a corporation, partners of a partnership, limited liability partners of a limited liability partnership, or members or managers of a limited liability company shall submit affidavits of nonparticipation as required by the Department. Provides that no person shall be granted a license if any participating owner, officer, director, partner, limited liability partner, member, or manager has been denied a real estate licensed by the Department in the previous 5 years or is otherwise currently barred from real estate practice because of a suspension or revocation. Removes language concerning the brokerage business where a leasing agent controls specified shares of stock or ownership. Further amends the Real Estate Appraiser Licensing Act of 2002. In the disciplinary provisions, removes the language providing that the Secretary of Financial and Professional Regulation shall take specified actions if he or she disagrees with the recommendations of the Real Estate Appraisal Administration and Disciplinary Board. Effective January 1, 2019.