2017 -- H 5532

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LC001317

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2017

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A N   A C T

RELATING TO BUSINESSES AND PROFESSIONS - REAL ESTATE BROKERS AND

SALESPERSONS

     

     Introduced By: Representative Michael Morin

     Date Introduced: February 16, 2017

     Referred To: House Corporations

     (by request)

It is enacted by the General Assembly as follows:

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     SECTION 1. Section 5-20.5-4 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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     5-20.5-4. Examination of applicants -- Examination fee -- Licensing without

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examination.

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     (a) The director shall require any applicant for a real estate broker's or salesperson's

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license to submit to and pass a written examination to show the applicant's knowledge of the state

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statutes and the rules and regulations relating to real property, deeds, mortgages, leases, contracts,

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and agency. An applicant shall not be required to take the uniform portion of the Rhode Island

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real estate licensing examination if the applicant provides sufficient evidence that the applicant

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possesses an existing valid real estate license from a state that has similar statutes or regulations

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in effect which provide for reciprocal waiver of the uniform portion of the real estate licensing

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examination for persons holding an existing valid Rhode Island real estate broker's or

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salesperson's license. An applicant for a real estate broker's or salesperson's license, prior to the

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taking of the examination, must pay an examination fee, the cost of which is limited to the charge

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as designated by the appropriate testing service's contract with the department of business

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regulation.

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     (b) An applicant for a real estate salesperson's license must submit satisfactory evidence

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of completion of a minimum of forty-five (45) classroom hours in a real estate course given by a

 

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school as defined in § 5-20.5-19. The applicant for a broker's license must also submit

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satisfactory proof that he or she; (i) has Has been engaged full time as a real estate salesperson for

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at least two (2) years immediately prior to the date of application, except that the period is waived

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if the applicant has received a baccalaureate degree with a major in real estate, from an accredited

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college or university; or and (ii) has Has successfully completed at least ninety (90) hours of

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approved classroom study in a school as defined in § 5-20.5-19, or equivalent in a

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correspondence course offered by an extension department of an accredited college or university.

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The director, in his or her sole discretion, may require any additional evidence or proof, as to the

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honesty, trustworthiness, integrity, good reputation, and competency of any applicant.

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     (c) Any successful applicant who fails to remit the original license fee as provided in § 5-

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20.5-11 within one year of the date of that examination may be required by the director to re-

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submit to and pass a written examination as provided in subsection (a) of this section.

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     (d) When an attorney-at-law licensed by the supreme court of the state desires to have a

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real estate broker's license or a real estate salesperson's license, the attorney, by application, and

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upon payment of the applicable fee as provided in § 5-20.5-11, shall be granted a license without

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examination.

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     (e) A certificate of licensure shall be issued by the real estate division of the department

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of business regulation within thirty (30) days after it is requested at a cost of not more than

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twenty-five dollars ($25.00) for each certificate issued.

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     SECTION 2. This act shall take effect on September 1, 2017.

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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 remove the exception to qualification for a broker's license previously

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granted those with a baccalaureate in real estate.

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     This act would take effect on September 1, 2017.

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LC001317

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