HOUSE BILL 639

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