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SB 158: "An Act relating to real estate broker licensure; relating to the real estate commission; and providing for an effective date."

00                             SENATE BILL NO. 158                                                                         
01 "An Act relating to real estate broker licensure; relating to the real estate commission;                               
02 and providing for an effective date."                                                                                   
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1. AS 08.88.091(c) is amended to read:                                                                   
05            (c)  An applicant for licensure under AS 08.88.171(a) or (b) shall [MUST]                                
06       complete 30 [15] hours of education approved by the commission before the person                              
07       may be licensed under either of those subsections.                                                                
08    * Sec. 2. AS 08.88.171(a) is amended to read:                                                                      
09            (a)  A natural person qualifies for a real estate broker license if the person                               
10       passes the brokers examination, applies for a license within six months after passing                             
11       the examination, furnishes satisfactory proof of successful completion of the education                           
12       requirements of AS 08.88.091, has had at least 48 [24] months of active and                                   
13       continuous experience as a real estate licensee within the 60 [36] months immediately                         
14       preceding application for the broker license, is not under indictment for or seven years                          
01       have elapsed since the person has completed a sentence imposed upon conviction of a                               
02       felony or other crime that, in the judgment of the commission, affects the person's                               
03       ability to practice as a real estate broker competently and safely or upon conviction of                          
04       forgery, theft, extortion, conspiracy to defraud creditors, or fraud, and is an owner of a                        
05       real estate business or employed as a real estate broker by a foreign or domestic                                 
06       corporation, partnership, limited partnership, or limited liability company. Unless the                           
07       broker fails to satisfy the educational requirements of AS 08.88.095 or renew the                                 
08       license, or the broker's license is suspended or revoked, the broker's license continues                          
09       in effect as long as the broker's license is active. If the broker stops being an owner of                        
10       a real estate business or stops being employed as a real estate broker by a foreign or                            
11       domestic corporation, partnership, limited partnership, or limited liability company,                             
12       the broker's license is suspended from the time the broker stops until the broker                                 
13       satisfies the educational requirements of AS 08.88.098 and                                                        
14                 (1)  again becomes an owner of a real estate business or is again                                       
15       employed as a real estate broker by a foreign or domestic corporation, partnership,                               
16       limited partnership, or limited liability company; or                                                             
17                 (2)  is employed by another broker as an associate broker, in which                                     
18       case the real estate broker license shall be returned to the commission by the broker,                            
19       and the commission shall issue the broker an associate real estate broker license.                                
20    * Sec. 3. AS 08.88.171(b) is amended to read:                                                                      
21            (b)  A natural person qualifies for an associate real estate broker license if the                           
22       person passes the brokers examination, applies for the license within six months after                            
23       passing the examination, submits satisfactory proof of successful completion of the                               
24       education requirements of AS 08.88.091, has had at least 48 [24] months of active and                         
25       continuous experience as a real estate licensee within the 60 [36] months immediately                         
26       preceding application for the license, furnishes satisfactory proof that errors and                               
27       omissions insurance required under AS 08.88.172 has been obtained, is not under                                   
28       indictment for or seven years have elapsed since the person has completed a sentence                              
29       imposed upon conviction of a felony or other crime that, in the judgment of the                                   
30       commission, affects the person's ability to practice as an associate real estate broker                           
31       competently and safely or upon conviction of forgery, theft, extortion, conspiracy to                             
01       defraud creditors, or fraud, and is employed by a licensed real estate broker as an                               
02       associate real estate broker. Unless the associate broker fails to satisfy the educational                        
03       requirements of AS 08.88.095 or renew the license, or the associate broker's license is                           
04       suspended or revoked, the associate broker's license continues in effect as long as the                           
05       associate broker is employed by a licensed real estate broker as an associate broker. If                          
06       the associate broker stops being employed by a licensed real estate broker, the                                   
07       associate broker's license is suspended from the time the associate broker stops until                            
08       the associate broker satisfies the educational requirements of AS 08.88.098 and                                   
09                 (1)  again is employed by a real estate broker as an associate broker; or                               
10                 (2)  becomes an owner of a real estate business or is employed as a real                                
11       estate broker by a foreign or domestic corporation, partnership, limited partnership, or                          
12       limited liability company, in which case the associate broker's license shall be returned                         
13       to the commission by the associate broker, and the commission shall issue the licensee                            
14       a broker's license.                                                                                               
15    * Sec. 4. The uncodified law of the State of Alaska is amended by adding a new section to                          
16 read:                                                                                                                   
17       APPLICABILITY. AS 08.88.091(c), as amended by sec. 1 of this Act, and                                             
18 AS 08.88.171(a) and (b), as amended by secs. 2 and 3 of this Act, apply to applications for a                           
19 real estate broker license under AS 08.88.171(a) or (b) or 08.88.241(b) submitted on or after                           
20 the effective date of secs. 1 - 3 of this Act.                                                                          
21    * Sec. 5. The uncodified law of the State of Alaska is amended by adding a new section to                          
22 read:                                                                                                                   
23       TRANSITIONAL PROVISION: REGULATIONS. The real estate commission may                                               
24 adopt regulations necessary to implement the changes made by this Act. The regulations take                             
25 effect under AS 44.62 (Administrative Procedure Act), but not before the effective date of the                          
26 law implemented by the regulation.                                                                                      
27    * Sec. 6. Section 5 of this Act takes effect immediately under AS 01.10.070(c).                                    
28    * Sec. 7. Except as provided in sec. 6 of this Act, this Act takes effect January 1, 2017.