South Carolina General Assembly
116th Session, 2005-2006

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Bill 3478

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Indicates New Matter

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Indicates Matter Stricken

Indicates New Matter

AMENDED

May 25, 2006

H. 3478

Introduced by Rep. Huggins

S. Printed 5/25/06--S.

Read the first time April 13, 2005.

            

A BILL

TO AMEND SECTION 40-57-145, AS AMENDED, 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 WHEN SUCH PAYMENTS ARE AUTHORIZED.

Amend Title To Conform

Be it enacted by the General Assembly of the State of South Carolina:

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.

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