HB 205: "An Act relating to real estate broker and real estate salesperson licensing; and providing for an effective date."
00 HOUSE BILL NO. 205 01 "An Act relating to real estate broker and real estate salesperson licensing; and 02 providing for an effective date." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 08.88.091(b) is amended to read: 05 (b) An applicant for licensure under AS 08.88.171(c) must complete 40 [20] 06 hours of education approved by the commission before the person may be licensed 07 under that subsection. 08 * Sec. 2. AS 08.88.095(a) is amended to read: 09 (a) In addition to the continuing educational requirements of AS 08.88.091(d), 10 within one year after the date that the commission issues an initial license under this 11 chapter, the licensee shall complete 30 [20] hours of education approved by the 12 commission under AS 08.88.091. 13 * Sec. 3. AS 08.88.171(c) is amended to read: 14 (c) A natural person qualifies for a real estate salesperson license if the person
01 passes the real estate salesperson examination, applies for the license within six 02 months after passing the examination, submits satisfactory proof of successful 03 completion of the education requirements of AS 08.88.091, is at least 19 years of age, 04 is not under indictment for forgery, theft, extortion, conspiracy to defraud creditors, or 05 any other felony involving moral turpitude, or, if convicted of such an offense, seven 06 years have elapsed since the person [HAS] completed the sentence imposed upon 07 conviction, and is employed by a real estate broker. Unless the salesperson fails to 08 satisfy the educational requirements of AS 08.88.095 or renew the license, or the real 09 estate salesperson's license is suspended or revoked, a real estate salesperson's license 10 continues in effect as long as the salesperson is employed as a salesperson by a 11 licensed real estate broker. If the salesperson stops being employed as a real estate 12 salesperson, the real estate salesperson's license is suspended from the time the 13 salesperson stops until the salesperson satisfies the educational requirements of 14 AS 08.88.098 and again is employed as a real estate salesperson by a licensed real 15 estate broker. 16 * Sec. 4. AS 08.88.291 is amended by adding a new subsection to read: 17 (e) Notwithstanding (a) of this section, a person registered as a real estate 18 broker under this chapter may reside out of state, if the broker 19 (1) does not employ any real estate licensees; or 20 (2) employs real estate licensees at an office in the state and all those 21 licensees are under the direct supervision of a real estate associate broker. 22 * Sec. 5. AS 08.88 is amended by adding a new section to read: 23 Sec. 08.88.305. Multiple business operations. A person licensed as a real 24 estate broker may own, operate, or be employed by multiple corporations, 25 partnerships, or other business organizations engaging in activities for which a license 26 is required under this chapter, provided that each business organization is registered 27 with the commission, and that the principal offices of all of the business organizations 28 share a single physical address. 29 * Sec. 6. AS 08.88.685(a) is amended to read: 30 (a) A broker shall adopt [A] written policies and procedures available to the 31 commission and to members of the public on request [POLICY] that
01 (1) require real estate licensees to comply with all real estate laws; 02 (2) require real estate licensees to act fairly and honestly in all 03 dealings; 04 (3) require real estate licensees to notify the broker or a broker 05 designee of any legal dispute or allegation of wrongdoing from a seller, buyer, 06 lessor, or lessee; 07 (4) require real estate licensees to maintain regular communication 08 with the broker or a broker designee; and 09 (5) identify and describe [IDENTIFIES AND DESCRIBES] the 10 relationships in which the broker and the real estate licensees who work for the broker 11 may engage with a seller, buyer, lessor, or lessee. [THE BROKER SHALL MAKE 12 THE WRITTEN POLICY AVAILABLE TO THE COMMISSION AND TO 13 MEMBERS OF THE PUBLIC ON REQUEST.] 14 * Sec. 7. This Act takes effect February 1, 2008.