CSHB 418(L&C): "An Act extending the termination date of the Real Estate Commission; relating to real estate; relating to home inspectors; relating to real estate licensees; and providing for an effective date."
00 CS FOR HOUSE BILL NO. 418(L&C) 01 "An Act extending the termination date of the Real Estate Commission; relating to real 02 estate; relating to home inspectors; relating to real estate licensees; and providing for an 03 effective date." 04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 05 * Section 1. AS 08.03.010(c)(19) is amended to read: 06 (19) Real Estate Commission (AS 08.88.011) - June 30, 2008 [2004]; 07 * Sec. 2. AS 08.18.101 is amended by adding a new subsection to read: 08 (b) Proof of insurance coverage for an applicant under (a) of this section may 09 be satisfied by providing evidence that the applicant is covered by a policy in effect 10 for the applicant's employer at least to the extent required under (a) of this section. 11 * Sec. 3. AS 08.88.251 is amended by adding new subsections to read: 12 (d) A licensee may, subject to the approval of the commission, renew an 13 inactive license for 24 months from the anniversary date of the issuance of the initial 14 inactive license certificate under (a) of this section.
01 (e) An active license that has been converted from inactive status under (c) of 02 this section shall be issued for the remainder of the current 24-month period of the 03 inactive license. 04 * Sec. 4. AS 08.88.291 is amended by adding new subsections to read: 05 (b) The licensee is responsible for ensuring that the commission has current 06 contact information for the licensee for two years after the lapse, expiration, surrender, 07 suspension, or revocation of the license. 08 (c) In addition to the information provided under (a) of this section, a licensee 09 shall provide the commission with a current mailing address and, if active, the address 10 of the broker employing the licensee. 11 (d) The commission shall mail all notices pertaining to a license or surety fund 12 action taken under this chapter or a regulation adopted under this chapter to the current 13 address or addresses of a licensee obtained under this section. Proof of notice 14 provided under this subsection satisfies due process notice requirements. 15 * Sec. 5. The uncodified law of the State of Alaska as enacted in sec. 44, ch. 134, SLA 16 2003, is amended by adding a new subsection to read: 17 (h) Notwithstanding provisions of this section that provide that a certificate 18 issued under this section is valid until January 1, 2006, a certificate issued under this 19 section is not valid for more than two years from the date of issuance unless the 20 certificate holder has provided evidence to the Department of Community and 21 Economic Development that the certificate holder has completed continuing education 22 requirements established by the department. The department may require a person 23 who must show completion of continuing education under this subsection to meet the 24 same continuing education requirements that would be applicable to license renewal 25 under AS 08.18.031(c). 26 * Sec. 6. This Act takes effect immediately under AS 01.10.070(c).