Real Estate Board; death or disability of a real estate broker. (SB510)

Introduced By

Sen. David Suetterlein (R-Salem)

Progress

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

Description

Department of Professional and Occupational Regulation; Real Estate Board; death or disability of a real estate broker. Requires a licensed real estate broker who is engaged in a sole proprietorship or is the only licensed broker in a business entity to designate, at the time of his application for broker licensure and at the time of his application for renewal of his license, another licensed broker to carry on the business for 180 days for the sole purpose of concluding the business of such designating broker in the event of the designating broker's death or disability. The bill also clarifies that in the event that the original designated licensed broker is unable or unwilling to perform the act of concluding a deceased or disabled broker's business, the Real Estate Board shall grant approval to conclude the affairs of the business to one of a list of individuals. Under current law, the Board must grant such approval to such individuals in a specific order of priority. Finally, the bill provides that in the event that no listed individual is available or suitable to conclude the business affairs of the deceased or disabled broker, the Board is required to appoint any other licensed broker, with such broker's written consent, within 30 days of receiving written notification of a broker's death or disability, to carry on the business of the deceased or disabled broker for the sole purpose of concluding the business within 180 days. The bill requires the Department of Professional and Occupational Regulation to amend the real estate broker license renewal application form to require applicants for real estate broker license renewal to state that there has been no change to the designated licensed broker. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/12/2022Prefiled and ordered printed; offered 01/12/22 22101836D
01/12/2022Referred to Committee on General Laws and Technology
01/19/2022Impact statement from DPB (SB510)
01/26/2022Senate committee, floor amendments and substitutes offered
01/26/2022Reported from General Laws and Technology with substitute (15-Y 0-N) (see vote tally)
01/26/2022Committee substitute printed 22104968D-S1
01/28/2022Constitutional reading dispensed (39-Y 0-N) (see vote tally)
01/31/2022Read second time
01/31/2022Reading of substitute waived
01/31/2022Committee substitute agreed to 22104968D-S1
01/31/2022Engrossed by Senate - committee substitute SB510S1
01/31/2022Impact statement from DPB (SB510S1)
02/01/2022Read third time and passed Senate (39-Y 0-N) (see vote tally)
02/01/2022Reconsideration of passage agreed to by Senate (40-Y 0-N) (see vote tally)
02/01/2022Passed Senate (40-Y 0-N) (see vote tally)
02/22/2022Placed on Calendar
02/22/2022Read first time
02/22/2022Referred to Committee on General Laws
02/23/2022Assigned GL sub: Subcommittee #1
02/24/2022Subcommittee recommends reporting (8-Y 0-N)
03/01/2022Reported from General Laws (22-Y 0-N) (see vote tally)
03/03/2022Read second time
03/04/2022Passed House BLOCK VOTE (99-Y 0-N)
03/04/2022VOTE: Block Vote Passage (99-Y 0-N) (see vote tally)
03/09/2022Enrolled
03/09/2022Bill text as passed Senate and House (SB510ER)
03/09/2022Signed by Speaker
03/10/2022Signed by President
03/15/2022Impact statement from DPB (SB510ER)
03/22/2022Enrolled Bill Communicated to Governor on March 22, 2022
03/22/2022G Governor's Action Deadline 11:59 p.m., April 11, 2022
04/11/2022Governor's recommendation received by Senate
04/27/2022Senate concurred in Governor's recommendation (40-Y 0-N) (see vote tally)
04/27/2022House concurred in Governor's recommendation BLOCK VOTE (100-Y 0-N)
04/27/2022VOTE: Adoption (100-Y 0-N) (see vote tally)
04/27/2022G Governor's recommendation adopted
04/27/2022Reenrolled
04/27/2022Reenrolled bill text (SB510ER2)
04/27/2022Signed by President as reenrolled
04/27/2022Signed by Speaker as reenrolled
04/27/2022Enacted, Chapter 725 (effective 1/1/23)
04/27/2022G Acts of Assembly Chapter text (CHAP0725)

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