AN ACT TO MODIFY CONTINUING EDUCATION REQUIREMENTS FOR REAL ESTATE BROKERS AND TO MODIFY REAL ESTATE LICENSING REQUIREMENTS FOR TIME SHARE SALESPEOPLE. SL 2019-195. Enacted August 9, 2019. Section 4 is effective August 9, 2019. The remainder is effective July 1, 2020.
Bill Summaries: S 590 MODIFY CONTINUING ED FOR REAL ESTATE BROKERS.
Summary date: Aug 12 2019 - View Summary
Summary date: Jun 27 2019 - View Summary
Senate committee substitute to the 2nd edition makes the following changes. Corrects a statutory cross reference in GS 93A-32.
Summary date: Jun 26 2019 - View Summary
Senate committee substitute to the 1st edition makes the following changes.
Amends GS 93A-4.2 to to require a broker-in-charge of a real estate office to complete an education program (was, a course of study) not to exceed 12 hours of instruction and removes the requirement that those hours be in classroom instruction. Effective July 1, 2020.
Amends the continuing education requirements for real estate brokers under GS 93A-38.5 to no longer require that the eight hours of instruction be classroom hours.
Amends GS 93A-40 to make it illegal to engage or assume to engage in the business of a time share developer or time share salesperson to sell or offer to sell a time share located in the state without the time share developer first obtaining a certificate of registration for the time share project (previously required the time share salesperson to obtain a real estate broker license before engaging or assuming to engage in the business of a time share salesperson). Requires a time share salesperson to be a licensed real estate broker unless the time share salesperson (1) meets the requirements for exemption under GS 93A-2(c)(1) (any partnership, corporation, limited liability company, association, or other business entity that, as owner or lessor, shall perform any of the specified acts with reference to property owned or leased by them, where the acts are performed in the regular course of or as incident to the management of that property and the investment) or (2) is an employee of the registered time share developer, whose income is reported on IRS Form W-2 of the registered time share developer. Effective when the act becomes law.
Makes conforming changes to the act's long title.
Summary date: Apr 8 2019 - View Summary
Amends GS Chapter 93A to modify continuing education requirements for real estate brokers by (1) making minor changes to GS 93A-4; (2) repealing GS 93A-4.1 and moving that language with minor changes to GS Chapter 93A, Article 3 (previously entitled Private Real Estate Schools, renamed to Private Real Estate Education Providers and Continuing Education Requirements) in newly enacted GS 93A-38.5; (3) amending the other existing statutes in Article 3; (4) repealing GS 93A-37; and (5) throughout Article 3, references to "schools" are changed to "education providers," and references to "license" or "licensing" are changed to "certifying" or "certification." More specific amendments are as follows.
Amends GS 93A-4 by replacing references to "school" with "real estate education provider" and reducing the required time for a provisional broker to complete postlicensing education from three years to 18 months.
Repeals GS 93A-4.1 (continuing education) and moves its language to newly enacted GS 93A-38.5, in GS Chapter 93A, Article 3, with two minor changes: (1) in subsection (a), clarifies that continuing education consists of no more than eight hours annually and (2) in subsection (d), reference to "approved course sponsor" is changed to "private real estate education provider."
Amends GS 93A-32 by changing the term private real estate school to education provider, the definition of which is expanded to include individuals. Expands definition to education providers who conduct continuing education in addition to prelicensing and postlicensing courses.
Amends GS 93A-33 by changing references to "issuing licenses" and "licensing to certifying or certification," changing "schools" to "education providers," and removing from the Commission's authority inspections of real estate schools.
Amends GS 93A-34(a) by removing references to "licenses" and replacing with "certification"; expands prohibition from operating as an education provider to any entity, and adds language whether live or in any online format. Amends GS 93A-34(b) by dividing its text between (b), regarding application for certification, and newly created subsection (b1), containing a list of items that must be included in applications for education providers who use methods other than distance learning. Changes language in (b) and (c) from "license" to "certification" and from "school location" to "education provider." Clarifies in subdivision (c)(5) that all of the enumerated information about the education provider must be contained in a published document accessible to students.
Amends GS 93A-35 and 93A-36 by changing references to "licenses" to "certification" and "schools" to "education provider." Repeals GS 93A-37.
Effective July 1, 2020.