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A352, R399, H3478
Sponsors: Rep. Huggins
Document Path: l:\council\bills\nbd\11246ac05.doc
Introduced in the House on February 8, 2005
Introduced in the Senate on April 13, 2005
Last Amended on May 25, 2006
Passed by the General Assembly on May 31, 2006
Governor's Action: June 12, 2006, Signed
Summary: Grounds for denial of licensure or for disciplinary action against real estate professionals
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number ------------------------------------------------------------------------------- 2/8/2005 House Introduced and read first time HJ-3 2/8/2005 House Referred to Committee on Labor, Commerce and Industry HJ-3 4/6/2005 House Committee report: Favorable with amendment Labor, Commerce and Industry HJ-3 4/12/2005 House Amended HJ-18 4/12/2005 House Read second time HJ-18 4/13/2005 House Read third time and sent to Senate HJ-30 4/13/2005 Senate Introduced and read first time SJ-8 4/13/2005 Senate Referred to Committee on Labor, Commerce and Industry SJ-8 3/2/2006 Senate Committee report: Favorable Labor, Commerce and Industry SJ-14 3/28/2006 Senate Amended SJ-76 5/25/2006 Senate Amended SJ-147 5/25/2006 Senate Read second time SJ-147 5/26/2006 Scrivener's error corrected 5/30/2006 Senate Read third time and returned to House with amendments SJ-10 5/31/2006 House Concurred in Senate amendment and enrolled HJ-95 6/7/2006 Ratified R 399 6/12/2006 Signed By Governor 6/15/2006 Copies available 6/15/2006 Effective date 06/12/06 6/23/2006 Act No. 352
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VERSIONS OF THIS BILL
(A352, R399, H3478)
AN ACT TO AMEND SECTION 40-57-145, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO GROUNDS FOR DENIAL OF LICENSURE OR FOR DISCIPLINARY ACTION AGAINST REAL ESTATE PROFESSIONALS, INCLUDING BROKERS, AGENTS, AND PROPERTY MANAGERS, SO AS TO CLARIFY THAT PAYMENT OF A COMMISSION OR COMPENSATION TO AN UNLICENSED INDIVIDUAL IS PROHIBITED FOR CONDUCTING ACTIVITIES REQUIRING A LICENSE AND TO FURTHER PROVIDE THAT A LICENSEE MAY NOT PAY OR OFFER TO PAY A REFERRAL FEE TO AN UNLICENSED INDIVIDUAL WHO IS NOT A PARTY TO THE TRANSACTION.
Be it enacted by the General Assembly of the State of South Carolina:
Grounds of misconduct
SECTION 1. Section 40-57-145(A)(11) of the 1976 Code, as last amended by Act 218 of 2004, is further amended to read:
"(11) pays a commission or compensation to an unlicensed individual for activities requiring a license under this chapter. Notwithstanding this section, a licensee may not pay or offer to pay a referral fee or finder's fee to an unlicensed individual that is not a party in the real estate transaction;"
SECTION 2. This act takes effect upon approval by the Governor.
Ratified the 7th day of June, 2006.
Approved the 12th day of June, 2006.
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