AN ACT TO CLARIFY THAT OFFICERS AND EMPLOYEES OF A PERSON OR BUSINESS ENTITY WHO PERFORMS REAL ESTATE BROKER ACTS AS RELATED TO PROPERTY OWNED OR LEASED BY THE PERSON OR BUSINESS ENTITY ARE EXEMPT FROM THE REQUIREMENTS OF LICENSURE UNDER THE LAWS REGULATING REAL ESTATE BROKERS AND SALESPERSONS. Summarized in Daily Bulletin 4/4/11 and 6/8/11. Enacted June 23, 2011. Effective June 23, 2011.
Bill Summaries: all (2011-2012 Session)
Summary date: Jun 30 2011 - View summary
Bill S 507 (2011-2012)Summary date: Jun 8 2011 - View summary
Senate committee substitute makes the following changes to 1st edition. Amends GS 93A-2(c)(1) to clarify that exemption from real estate broker and salesperson licensure requirements under GS 93A-1 and GS 93A-2 extends to officers and employees of an exempt corporation, the general partners of an exempt partnership, and the managers of an exempt limited liability company when those individuals are engaged in acts or services for which the corporation, partnership, or company itself would be exempt. Makes conforming change to the title.
Bill S 507 (2011-2012)Summary date: Apr 4 2011 - View summary
Amends GS 93A-2(c)(1) to provide the exemption from the licensure requirements regulating real estate brokers and salespersons as the title indicates.