MISSISSIPPI LEGISLATURE

1998 Regular Session

To: Judiciary B

By: Representative Williams

AN ACT TO AMEND SECTION 73-35-18, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT REAL ESTATE BROKERS, WHO HAVE ALLOWED THEIR LICENSES TO EXPIRE FOR A PERIOD OF LESS THAN FIVE YEARS, SHALL BE ELIGIBLE FOR REINSTATEMENT UPON COMPLETION OF THE EDUCATION REQUIREMENTS AND PAYMENT OF ALL PENALTIES; TO PROVIDE THAT THE PROVISION, WHICH ALLOWS REINSTATEMENT OF LAPSED REAL ESTATE BROKER LICENSES UPON MEETING CERTAIN REQUIREMENTS, WILL BE REPEALED DECEMBER 31, 1999; AND FOR RELATED PURPOSES. 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. Section 73-35-18, Mississippi Code of 1972, is amended as follows:

73-35-18. (1) Each individual applicant for renewal of a license issued by the Mississippi Real Estate Commission shall, on or before the expiration date of his license, or at a time directed by the commission, submit proof of completion of not less than eight (8) clock hours of approved course work to the commission, in addition to any other requirements for renewal. The eight (8) clock hours' coursework requirement shall apply to each two-year license renewal, and hours in excess thereof shall not be cumulated or credited for the purposes of subsequent license renewals. The commission shall develop standards for approval of courses and shall require certification of such coursework of the applicant. At least two (2) of the required eight (8) hours shall be on the subject of license law.

(2) This section shall apply to renewals of licenses which expire on and after July 1, 1994; however, an applicant for first renewal who has been licensed for not more than one (1) year shall not be required to comply with this section for the first renewal of the applicant's license. The provisions of this section shall not apply to persons who have held a broker's license in this state for at least twenty-five (25) years and who are older than seventy (70) years of age. Inactive licensees are not required to meet the real estate continuing education requirements specified in this section; however, such inactive licensees, before activating their license to active status, must cumulatively meet requirements missed during the period their license was inactive.

(3) The commission shall promulgate rules and regulations as necessary to accomplish the purposes of this section in accordance with the Mississippi Administrative Procedures Law.

(4) Any person who has been licensed as a real estate broker and allowed his license to expire for a period of less than five (5) years shall be eligible for reinstatement upon completion of the education requirements and payment of all penalties and reinstatement fees as prescribed by the commission. This subsection (4) of this section shall stand repealed from and after December 31, 1999.

SECTION 2. This act shall take effect and be in force from and after July 1, 1998.