2018 Regular Session
To: Judiciary B
By: Representatives White, Horan, Bain, Arnold, Massengill, Barnett, Bell (21st), Scoggin, DeLano, Dixon
AN ACT TO AMEND SECTION 73-35-7, MISSISSIPPI CODE OF 1972, TO REVISE THE REQUIREMENTS TO BE GRANTED A REAL ESTATE BROKERS LICENSE; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. Section 73-35-7, Mississippi Code of 1972, is amended as follows:
73-35-7. Licenses shall be
granted only to persons who present, and to corporations, partnerships,
companies or associations whose officers, associates or partners present
satisfactory proof to the commission that they are trustworthy and competent to
transact the business of a real estate broker or real estate salesperson in
such manner as to safeguard the interests of the public. Every person who
applies for a resident license as a real estate broker: (a) shall be age
twenty-one (21) years or over, and have his legal domicile in the State of
Mississippi at the time he applies; (b) shall be subject to the jurisdiction of
this state, subject to the income tax laws and other excise laws thereof,
subject to the road and bridge privilege tax laws thereof; (c) shall not be an
elector in any other state; (d) shall have held a license as an active real
estate salesperson for * * *
thirty-six (36) months immediately prior to making
application for the broker's examination hereafter specified; (e) shall have
successfully completed a minimum of one hundred twenty (120) hours of courses
in real estate as hereafter specified; (f) shall have successfully completed
the real estate broker's examination as hereafter specified; and (g) shall have
successfully been cleared for licensure by the commission's background
investigation as provided in Section 73-35-10.
* * *
Every applicant for a resident license as a real estate salesperson shall be age eighteen (18) years or over, shall be a bona fide resident of the State of Mississippi prior to filing his application, shall have successfully completed a minimum of sixty (60) hours in courses in real estate as hereafter specified, and shall have successfully completed the real estate salesperson's examination as hereafter specified.
The residency requirements set forth in this section shall not apply to those licensees of other states who qualify and obtain nonresident licenses in this state.
The commission is authorized to exempt from such prelicensing educational requirements, in whole or in part, a real estate licensee of another state who desires to obtain a license under this chapter, provided that the prelicensing educational requirements in the other state are determined by the commission to be equivalent to prelicensing educational requirements in this state and provided that such state extends this same privilege or exemption to Mississippi real estate licensees. The issuance of a license by reciprocity to a military-trained applicant or military spouse shall be subject to the provisions of Section 73-50-1.
SECTION 2. This act shall take effect and be in force from and after July 1, 2018.