Real estate licenses; required to obtain a business entity license. (HB862)

Introduced By

Del. Chris Peace (R-Mechanicsville) with support from co-patron Del. Paul Krizek (D-Alexandria)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Professions and occupations; real estate licenses; real estate teams. Requires real estate teams as defined in the bill to obtain a business entity salesperson's license from the Real Estate Board (the Board). The bill requires a principal broker to obtain a branch office license from the Board for each place of business maintained by such principal broker within the Commonwealth. The bill also expands the responsibilities of supervising brokers as defined in the bill and requires that as a condition of the renewal of a branch office license, the supervising broker shall provide to the Board the name and license number of each real estate licensee affiliated with the branch office at the time of the renewal. The bill has a delayed effective date of January 1, 2019. This bill is identical to SB 758. Amends § 54.1-2100, § 54.1-2101, § 54.1-2106.1, § 54.1-2110.1, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/09/2018Committee
01/09/2018Prefiled and ordered printed; offered 01/10/18 18104635D
01/09/2018Referred to Committee on General Laws
01/19/2018Assigned GL sub: Subcommittee #2
01/29/2018Impact statement from DPB (HB862)
02/01/2018Subcommittee recommends reporting with substitute (6-Y 0-N)
02/06/2018Reported from General Laws with substitute (22-Y 0-N) (see vote tally)
02/06/2018Committee substitute printed 18106546D-H1
02/08/2018Impact statement from DPB (HB862H1)
02/08/2018Read first time
02/09/2018Read second time
02/09/2018Committee substitute agreed to 18106546D-H1
02/09/2018Engrossed by House - committee substitute HB862H1
02/12/2018Read third time and passed House BLOCK VOTE (100-Y 0-N)
02/12/2018VOTE: BLOCK VOTE PASSAGE (100-Y 0-N) (see vote tally)
02/13/2018Constitutional reading dispensed
02/13/2018Referred to Committee on General Laws and Technology
02/19/2018Reported from General Laws and Technology (13-Y 0-N) (see vote tally)
02/21/2018Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/22/2018Read third time
02/22/2018Passed Senate (40-Y 0-N) (see vote tally)
02/26/2018Enrolled
02/26/2018Bill text as passed House and Senate (HB862ER)
02/26/2018Impact statement from DPB (HB862ER)
02/26/2018Signed by Speaker
02/28/2018Signed by President
03/02/2018Enrolled Bill communicated to Governor on March 2, 2018
03/02/2018G Governor's Action Deadline Midnight, March 9, 2018
03/09/2018G Approved by Governor-Chapter 223 (effective 1/1/19)
03/09/2018G Acts of Assembly Chapter text (CHAP0223)