MISSISSIPPI LEGISLATURE

2001 Regular Session

To: Judiciary B

By: Representative Frierson

AN ACT TO AMEND SECTION 73-35-7, MISSISSIPPI CODE OF 1972, TO REQUIRE THAT CERTAIN COURSES NECESSARY FOR OBTAINING A REAL ESTATE BROKER OR SALESPERSON LICENSE SHALL BE APPROVED BY THE REAL ESTATE COMMISSION; 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 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 applicant for a resident license as a real estate broker: (a) shall be age twenty-one (21) years or over, a citizen of the United States, 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 twelve (12) months immediately prior to making application for the broker's examination; and (e) shall have successfully completed a minimum of one hundred twenty (120) classroom hours of courses in real estate, which courses are approved by the Mississippi Real Estate Commission, (a semester-hour credit equals fifteen (15) classroom hours and a quarter-hour credit equals ten (10) classroom hours), or have successfully completed a minimum of one hundred twenty (120) classroom hours of real estate education, (i) with the first ninety (90) classroom hours of real estate education as provided in Graduate Realtors Institute Courses 1, 2 and 3 as approved by the Mississippi Association of Realtors, Incorporated, and the National Association of Realtors, Incorporated, and (ii) with the next thirty (30) classroom hours as provided in Graduate Realtors Institute Course 4 as approved by the Mississippi Association of Realtors, Incorporated; or in lieu of Graduate Realtors Institute Course 4, successful completion of a minimum of thirty (30) classroom hours of real estate education provided through an approved professional designation program of an institute, society or council of the National Association of Realtors, Incorporated, or thirty (30) classroom hours in college courses in real estate acceptable for credit toward a degree in the manner hereinabove provided in this paragraph.

An applicant who has not held an active real estate salesperson's license for a period of at least twelve (12) months immediately prior to submitting an application shall have successfully completed a minimum of one hundred fifty (150) classroom hours in real estate courses, which courses are approved by the Mississippi Real Estate Commission, or shall have successfully completed one hundred fifty (150) classroom hours of real estate education (i) with at least the first ninety (90) classroom hours as provided in the Graduate Realtors Institute, with Courses 1, 2 and 3 being approved by the Mississippi Association of Realtors, Incorporated, and the National Association of Realtors, Incorporated, and (ii) with the next thirty (30) classroom hours as provided in the Graduate Realtors Institute Course 4 as approved by the Mississippi Association of Realtors, Incorporated, and (iii) with successful completion of a minimum of thirty (30) classroom hours of real estate education provided through an approved professional designation program of an institute, society or council of the National Association of Realtors, Incorporated, or thirty (30) classroom hours of college courses in real estate acceptable for credit toward a degree in the manner hereinabove provided in this paragraph; or in lieu of the preceding combination in items (ii) and (iii), successful completion of sixty (60) classroom hours of real estate education provided through an approved, professional designation program of an institute, society or council of the National Association of Realtors, Incorporated. The last sixty (60) classroom hours enumerated in this section may be substituted for by successfully completing two (2) three-semester-hour courses in real estate that would be acceptable toward a degree at a college or university as approved by the Southern Association of Colleges and Schools or the comparable regional accrediting authority, provided the applicant meets other such qualifications of the preceding paragraph. Certification of the successful completion of the above courses shall be sent to the commission office with the application to take the broker's examination.

No broker's license shall be issued to a partnership, association, company or corporation unless all the members, owners or officers thereof who will actively engage in the real estate business will be licensed as brokers on active status.

Every applicant for a resident license as a real estate salesperson shall be age eighteen (18) years or over, shall be a citizen of the United States and a bona fide resident of the State of Mississippi prior to filing his application, and shall have successfully completed a minimum of sixty (60) classroom hours in courses in real estate, which courses are approved by the Mississippi Real Estate Commission, or shall have successfully completed a minimum of sixty (60) classroom hours of real estate education as provided in Graduate Realtors Institute Courses 1 and 2 approved by the Mississippi Association of Realtors, Incorporated, and the National Association of Realtors, Incorporated. Certification of the successful completion of either of the above courses shall be sent to the commission with the application to take the salesperson's examination.

No regulation, rule or interpretation shall be adopted or applied which establishes additional qualifications other than those established under this section. Any existing regulation, rule or interpretation which is not in accord with this section is hereby abrogated and is without effect. The * * * commission shall publish and supply regulations consistent with this section to replace existing publications which are contrary to this section.

The educational requirements set forth in this section shall be effective on July 1, 1994. Provided, those persons holding an active broker's or salesperson's license on July 1, 1994, shall not be required to meet the provisions of this section with regard to the particular license which they hold at that time. 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, however, 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.

SECTION 2. This act shall take effect and be in force from and after July 1, 2001.