Current Status Bill Number:1061 Type of Legislation:General Bill GB Introducing Body:Senate Introduced Date:19980224 Primary Sponsor:Giese All Sponsors:Giese Drafted Document Number:bbm\9681jm.98 Residing Body:Senate Current Committee:Labor, Commerce and Industry Committee 12 SLCI Subject:Real estate brokers, salesmen; license, continuing education requirements for property managers, agents
Body Date Action Description Com Leg Involved
______ ________ _______________________________________ _______ ____________
Senate 19980224 Introduced, read first time, 12 SLCI
referred to Committee
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TO AMEND SECTION 40-57-130, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO CONDITIONS FOR LICENSE RENEWAL AND CONTINUING EDUCATION FOR REAL ESTATE BROKERS AND SALESMEN, SO AS TO APPLY CERTAIN PROVISIONS OF THE SECTION TO REAL ESTATE PROPERTY MANAGERS, SPECIFY THE CONTENT OF CONTINUING EDUCATION FOR PROPERTY MANAGERS, AND EXEMPT CERTAIN PROPERTY MANAGERS FROM THE PROVISIONS OF THIS SECTION.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 40-57-130 of the 1976 Code, as amended by Act 24 of 1997, is further amended to read:
"Section 40-57-130. (A) As a condition of active license renewal, a broker, or salesman, or property manager shall provide proof of satisfactory completion biennially of eight hours of continuing education in courses approved by the department and taught by instructors approved by the department. The eight hours for brokers and salesmen shall include a minimum of two hours of instruction in current federal and state law affecting brokers and salesmen. The eight hours for property managers shall include a minimum of two hours of instruction on changes in federal and state law affecting property managers, and the remaining hours shall include property management-related courses as approved by the department.
(B) The following are exempt from the biennial continuing education required by subsection (A):
(1) a broker or salesman who successfully completes a post-licensing course is exempt for the period during which the course was taken;
(2) a broker or salesman while on inactive status; however, the eight-hour requirement must be completed and proof submitted with an application to return to active status;
(3) instructors of approved courses if they request in writing continuing education credit for time spent teaching or developing approved continuing education courses;
(4) a nonresident broker or salesman who has successfully satisfied the continuing education requirements of the jurisdiction of residence;
(5) a broker or salesman upon reaching the age of sixty-five years with a minimum of twenty-five years of licensure;.
(6) a property manager who manages fewer than one hundred units of property.
(C) Brokers, or salesmen, or property managers taking more than the required number of hours during a two-year period may not carry forward any excess hours to another renewal period.
(D) A broker, or salesman, or property manager who fails to complete the continuing education requirements required by this section by the date of license renewal may renew by submitting applicable fees but must immediately be placed on inactive status and may not engage in the practice of real estate, or property management as may be the case, while on inactive status. The license may be reactivated upon proof of completion of required continuing education and payment of applicable fees."
SECTION 2. This act takes effect January 1, 1999.