H 4737 General Bill, By Bailey and Walker
 A BILL TO AMEND SECTION 40-57-100, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA,
 1976, RELATING TO REAL ESTATE BROKERS, SALESMEN, AND PROPERTY MANAGERS AND THE
 EDUCATIONAL REQUIREMENTS WHICH ARE CONDITIONAL TO AN APPLICATION FOR
 LICENSURE, SO AS TO PROVIDE THAT FOR A SALESMAN'S LICENSE THE APPLICANT FOR
 LICENSURE MUST COMPLETE SIXTY, RATHER THAN THIRTY, HOURS OF CLASSROOM
 INSTRUCTION IN FUNDAMENTALS OF REAL ESTATE PRINCIPLES AND PRACTICES ON
 EVIDENCE, AND TO PROVIDE THAT FOR A BROKER'S LICENSE, THE APPLICANT FOR
 LICENSURE MUST COMPLETE ONE HUNDRED FIFTY RATHER THAN ONE HUNDRED TWENTY,
 HOURS OF CERTAIN CLASSROOM INSTRUCTION, NINETY, RATHER THAN SIXTY, HOURS OF
 WHICH MAY BE THE HOURS REQUIRED FOR A SALESMAN'S LICENSE.

   02/26/98  House  Introduced and read first time HJ-66
   02/26/98  House  Referred to Committee on Labor, Commerce and
                     Industry HJ-66
   03/25/98  House  Committee report: Favorable Labor, Commerce and
                     Industry HJ-15
   03/31/98  House  Debate adjourned until Wednesday, April 1, 1998 HJ-13
   04/01/98  House  Read second time HJ-22
   04/02/98  House  Read third time and sent to Senate HJ-10
   04/07/98  Senate Introduced and read first time SJ-4
   04/07/98  Senate Referred to Committee on Labor, Commerce and
                     Industry SJ-4
   05/14/98  Senate Committee report: Favorable Labor, Commerce and
                     Industry SJ-18
   05/27/98  Senate Read second time SJ-109
   05/27/98  Senate Ordered to third reading with notice of
                     amendments SJ-109
   05/28/98  Senate Amended SJ-40
   05/28/98  Senate Read third time and returned to House with
                     amendments SJ-40
   06/03/98  House  Continued HJ-22

AS PASSED BY THE SENATE

May 28, 1998

H. 4737

S. Printed 5/28/98--S.

Read the first time April 7, 1998.

A BILL

TO AMEND SECTION 40-57-100, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO REAL ESTATE BROKERS, SALESMEN, AND PROPERTY MANAGERS AND THE EDUCATIONAL REQUIREMENTS WHICH ARE CONDITIONAL TO AN APPLICATION FOR LICENSURE, SO AS TO PROVIDE THAT FOR A SALESMAN'S LICENSE THE APPLICANT FOR LICENSURE MUST COMPLETE SIXTY, RATHER THAN THIRTY, HOURS OF CLASSROOM INSTRUCTION IN FUNDAMENTALS OF REAL ESTATE PRINCIPLES AND PRACTICES ON EVIDENCE, AND TO PROVIDE THAT FOR A BROKER'S LICENSE, THE APPLICANT FOR LICENSURE MUST COMPLETE ONE HUNDRED FIFTY, RATHER THAN ONE HUNDRED TWENTY, HOURS OF CERTAIN CLASSROOM INSTRUCTION, NINETY, RATHER THAN SIXTY, HOURS OF WHICH MAY BE THE HOURS REQUIRED FOR A SALESMAN'S LICENSE.

Amend Title To Conform

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

SECTION 1. Section 40-57-100(A) of the 1976 Code, as amended by Act 24 of 1997, is further amended to read:

"(A) As a condition for and before applying to take a license examination, an applicant for a salesman, broker, or property manager license shall provide proof of having met these educational requirements within the last five years:

(1) For a salesman's license, completion of thirty forty-five hours of classroom instruction in fundamentals of real estate principles and practices or evidence submitted to the department of a Juris Doctor, Bachelor of Laws degree, or a baccalaureate degree with a major in real estate from an accredited college or university. Within one year following licensure, a salesman shall provide proof of satisfactory completion of thirty hours of post-licensing instruction in advanced real estate principles and practices. Failure to complete the post-licensing education within one year will result in cancellation of the license;

(2) For a broker's license, completion of one hundred and twenty thirty-five hours, sixty seventy-five hours of which may be the hours required for a salesman's license, of classroom instruction in advanced real estate principles and practices and related topics, and three years of experience with a salesman's license or evidence submitted to the department of a Juris Doctor, Bachelor of Laws degree, or a baccalaureate degree with a major in real estate from an accredited college or university or the commission may accept proof of related education and at least five years of experience immediately preceding license application in business activities equivalent to or closely related to real estate transactions;

(3) For a property manager's license, completion of thirty hours of classroom instruction in property management principles and practices or evidence submitted to the department of a Juris Doctor, Bachelor of Laws degree, or a baccalaureate degree with a major in real estate from an accredited college or university."

SECTION 2. Chapter 57, Title 40 of the 1976 Code is amended by adding:

"Section 40-57-141. A real estate agent or agents that know or should have known of the existence of a rental contract in place on the property must disclose such information in writing to a potential purchaser on or before the origination of a sales contract. Such notice is sufficient notice to the purchaser of their obligation to honor such rental contract. Selling agent or agents who fail to timely and properly disclose such information shall be fined at least five hundred dollars, in addition to being subject to other disciplinary action as determined by the South Carolina Real Estate Commission that may include revocation of his real estate license."

SECTION 3. Section 40-57-240 is amended to read:

"Section 40-57-240. This chapter does not apply to:

(1) the sale, lease, or rental of real estate by an unlicensed owner of real estate who owns any interest in the real estate if the interest being sold, leased, or rented is identical to the owner's legal interest;

(2) an attorney at law acting within the scope of his duties involved in the legal representation of his client/owner;

(3) agencies and instrumentalities of the state or federal government and their employees acting within the scope of their official duties;

(4) foresters registered under Chapter 27, Title 48, if the sale of any land is merely incidental to the sale of timber on the land;

(5) court-appointed receivers and trustees while acting within the scope of their appointment;

(6) housing authorities, including regional housing authorities, which operate under the United States Department of Housing and Urban Development regulations, and their employees acting within the scope of their official duties."

SECTION 4. This act takes effect on January 1, 1999.