South Carolina General Assembly
113th Session, 1999-2000

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Bill 3415

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COMMITTEE REPORT

March 11, 1999

H. 3415

Introduced by Reps. Bailey, Walker and Sandifer

S. Printed 3/11/99--S.

Read the first time February 11, 1999.

THE COMMITTEE ON

LABOR, COMMERCE AND INDUSTRY

To whom was referred a Bill (H. 3415), to amend Section 40-57-100, as amended, Code of Laws of South Carolina, 1976, relating to real estate brokers, etc., respectfully

REPORT:

That they have duly and carefully considered the same, and recommend that the same do pass:

J. VERNE SMITH, for Committee.

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.

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 sixty 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 fifty hours, sixty ninety 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. This act takes effect upon approval by the Governor.

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