2013 -- S 0384

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LC01720

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STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2013

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A N A C T

RELATING TO BUSINESSES AND PROFESSIONS - REAL ESTATE BROKERS AND

SALESPERSONS

     Introduced By: Senator Dawson T. Hodgson

     Date Introduced: February 26, 2013

     Referred To: Senate Corporations

It is enacted by the General Assembly as follows:

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     SECTION 1. Section 5-20.5-6 of the General Laws in Chapter 5-20.5 entitled "Real

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Estate Brokers and Salespersons" is hereby amended to read as follows:

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     5-20.5-6. Duration of licenses -- Rules and regulations -- Suspension or revocation of

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licenses. -- (a) If the director is satisfied that the applicant is competent and trustworthy and is

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reasonably familiar with the statutes and law relating to real estate, he or she shall issue to the

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applicant a license to act as a real estate broker or a real estate salesperson. The director shall

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promulgate rules and regulations mandating the term of license for each category of license

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issued pursuant to this chapter. No license shall remain in force for a period in excess of three (3)

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years. Any fee for the initial issuance of a license or for renewal of a license issued pursuant to

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this chapter is determined by multiplying the current annual fee by the term of years of the license

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or renewal. The fee for the total number of years of the initial license or of the renewal shall be

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paid in full prior to the issuance of the respective license. The license shall be renewed upon

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payment of the renewal fee, and proof of completion of any continuing education requirements as

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set forth in the rules and regulations issued by the department of business regulation. Any license

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issued or renewed may be suspended or revoked by the director, for cause, prior to the expiration

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date. The director shall issue reasonable rules and regulations with the consent of the majority of

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the Rhode Island real estate commission governing the conduct of licensed real estate brokers and

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salespersons, these rules and regulations shall be designed to implement the laws and policies of

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this state and to protect the interests of the public.

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      (b) Any rules or regulations promulgated with regard to the requirement of continuing

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education for the renewal of any real estate broker's and/or salesperson's license whose

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application for an initial broker's and/or salesperson's license is approved within one hundred

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eighty (180) days of the expiration date of his or her initial license is not subject to the continuing

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education requirement at the time of his or her first renewal. Attorneys holding real estate licenses

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pursuant to section 5-20.5-4 shall be automatically credited ten (10) hours towards the continuing

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education credit as long as they remain in good standing with the mandatory continuing legal

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education commission. The director, after a due and proper hearing, may suspend, revoke, or

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refuse to renew any license upon proof that it was obtained by fraud or misrepresentation or that

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the holder of the license has been guilty of fraud or misrepresentation or criminal acts in the

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performance of his or her functions, or upon proof that the holder of the license has violated this

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statute or any rule or regulation issued pursuant to this statute.

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      (c) The director shall, for licenses issued or renewed after July 1, 2004, require proof of,

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reasonable familiarity with and knowledge of duties and responsibilities established by the Lead

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Poisoning Prevention Act, chapter 24.6 of title 23 of the general laws, and the Lead Hazard

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Mitigation Act, chapter 128.1 of title 42 of the general laws. Notwithstanding the provisions of

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subsection (b) above, the requirements of this subsection shall apply to first renewals when

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licenses were initially issued before July 1, 2004. This subsection shall be put into force and

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effect by the director in the manner set forth in chapter 128.1 of title 42 and with the advice of the

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Rhode Island Real Estate Commission.

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     SECTION 2. This act shall take effect upon passage.

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LC01720

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EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

A N A C T

RELATING TO BUSINESSES AND PROFESSIONS - REAL ESTATE BROKERS AND

SALESPERSONS

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     This act would automatically credit attorneys holding real estate licenses with ten (10)

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hours towards continuing education credit.

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     This act would take effect upon passage.

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LC01720

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