Amend the bill, as and if amended, by adding appropriately numbered new SECTIONS to read:
/ SECTION __. Section 40-57-310 of the 1976 Code, as last amended by Act 170 of 2016, is further amended to read:
"Section 40-57-310. To be eligible for licensure as a real estate broker, broker-in-charge, or salesperson, an applicant must:
(1) attain the age of twenty-one if applying for a license as a broker or broker-in-charge;
(2) attain the age of eighteen if applying for a license as a salesperson;
(3) provide a physical address at which the licensee can be contacted in the course of an investigation. A licensee shall maintain on file with the commission his current contact information for his residential address, mailing address, email address, and telephone number. Failure to update this contact information within thirty days after a change may result in an administrative suspension of the property manager, salesperson, broker, or broker-in-charge pursuant to Section 40-57-710;
(4) graduate from high school or hold a certificate of equivalency recognized by the State Department of Education;
(5) submit proof of completion of education to the commission and, if applicable, experience requirements as specified in this chapter;
(6) submit to criminal background check as provided in Section 40-57-115 for initial application; and
(7) pass the applicable examination.; and
(8) report any outstanding unpaid civil judgments to demonstrate financial responsibility satisfactory to the commission. If notified of concerns regarding financial responsibility, the applicant may be required to appear to the commission for consideration of approval for licensure."
SECTION __. Section 40-57-340(A) of the 1976 Code is amended by adding an appropriately numbered new subsection to read:
"(4) A broker, broker-in-charge, or salesperson shall report any outstanding unpaid civil judgments to demonstrate financial responsibility satisfactory to the commission. A licensee who fails to demonstrate satisfactory financial responsibility may be subject to disciplinary action."
SECTION __. Section 40-57-510(A) of the 1976 Code is amended to read:
"(A) To be eligible for licensure as a property manager or property manager-in-charge, an applicant must:
(1) attain the age of twenty-one if applying for a property manager-in-charge;
(2) attain the age of eighteen if applying for a license as a property manager;
(3) provide a physical address at which the licensee can be contacted in the course of an investigation. A licensee shall maintain on file with the commission his current contact information for his residential address, mailing address, email address, and telephone number. Failure to update this contact information within thirty days after a change may result in an administrative suspension of the property manager, salesperson, broker, or broker-in-charge pursuant to Section 40-57-710;
(4) graduate from high school or hold a certificate of equivalency that is recognized by the South Carolina Department of Education;
(5) submit proof of completion of education to the commission and, if applicable, experience requirements as specified in this chapter;
(6) submit to criminal background check as provided in Section 40-57-115 for initial application; and
(7) pass the applicable examination.; and
(8) report any outstanding unpaid civil judgments to demonstrate financial responsibility satisfactory to the commission. If notified of concerns regarding financial responsibility, the applicant may be required to appear to the commission for consideration of approval for licensure."
SECTION __. Article 5, Chapter 57, Title 40 of the 1976 Code is amended by adding:
"Section 40-57-540. As a condition of active license renewal, a property manager or property manager-in-charge shall report any outstanding unpaid civil judgments to demonstrate financial responsibility satisfactory to the commission. A licensee who fails to demonstrate satisfactory financial responsibility may be subject to disciplinary action."
SECTION __. Section 40-57-710(A) of the 1976 Code is amended by adding an appropriately numbered new item to read:
"( ) fails to demonstrate financial responsibility in accordance with Section 40-57-310(8), Section 40-57-340(A)(4), Section 40-57-510(A)(8), or Section 40-57-540." /
Renumber sections to conform.
Amend title to conform.