1996 Regular Session

HOUSE BILL 639

CHAPTER NUMBER: 471 File Code: Business Occupations & Regulation
Sponsored By:
Delegates Jacobs, Preis, Bonsack, DeCarlo, Fry, Harkins, Holt, and Weir
Entitled:
Real Estate Brokers - Limitation on Interest in Business by Associate Real Estate Brokers and Real Estate Salespersons

Synopsis:

Allowing an associate real estate broker or a real estate salesperson or any combination of associate brokers or salespersons to own 50% of a business that provides real estate brokerage services; and providing an exception to the general rule that an interest of a licensee in a business that provides real estate brokerage services shall include any interest in the business held by an immediate family member of the licensee.

Legislative History

House Action
2/1
First Reading Economic Matters
2/14
Hearing 2/29 at 1:00 p.m.
3/20
Favorable with Amendments Report by Economic Matters
Favorable with Amendments Report Adopted
Floor Amendment (Del. Barve) Adopted
Second Reading Passed with Amendments
3/22
Third Reading Passed (133-1)
4/3
Returned Passed
5/14
Signed by the Governor Chapter 471
Senate Action
3/25
First Reading Economic and Environmental Affairs
3/27
Hearing 4/4 at 1:00 p.m.
4/5
Favorable Report by Economic and Environmental Affairs
4/3
Favorable Report Adopted
Second Reading Passed
4/4
Third Reading Passed (47-0)
Sponsored by:
Delegate Nancy Jacobs, District 34
Delegate Rose Mary Hatem Bonsack, District 34
Delegate Diane DeCarlo, District 6
Delegate Donald C. Fry, District 35A
Delegate James M. Harkins, District 35A
Delegate Kenneth Holt, District 6
Delegate Mary Louise Preis, District 34
Delegate Michael H. Weir, District 6
Bill indexed under the following Subjects:
AGENTS AND BROKERS
COMMERCE AND BUSINESS -see also- SMALL BUSINESS
REAL ESTATE -see also- AGENTS AND BROKERS
Bill affects the following Statute:
Business Occupations and Professions
( 17-511 )

Documents:

Bill Text:
First Reading (PDF), Third Reading (PDF), Enrolled
Fiscal Note: Available (PDF)

Amendments:
House
Number: 252481/1 (PDF) Offered on: MARCH 20, 1996 at: 16:39 Status: Adopted
Number: 393152/2 (PDF) Offered on: MARCH 20, 1996 at: 16:37 Status: Adopted