Real estate brokers license; reduce penalty for late renewal of from 100% to 50% of renewal fee.

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To: Business and Commerce
MISSISSIPPI LEGISLATURE REGULAR SESSION 2026

By: Representative Waldo

HOUSE BILL NO. 1369

AN ACT TO AMEND SECTION 73-35-17, MISSISSIPPI CODE OF 1972, 1
TO REDUCE THE PENALTY FOR A PERSON LICENSED AS A REAL ESTATE 2
BROKER WHO DOES NOT PAY THE LICENSE RENEWAL FEE WHEN IT BECOMES 3
DUE FROM ONE HUNDRED PERCENT OF THE RENEWAL FEE TO FIFTY PERCENT 4
OF THE RENEWAL FEE; TO BRING FORWARD SECTION 73-35-7 AND 73-35-18, 5
MISSISSIPPI CODE OF 1972, FOR THE PURPOSE OF POSSIBLE AMENDMENT; 6
AND FOR RELATED PURPOSES. 7
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI: 8
SECTION 1. Section 73-35-17, Mississippi Code of 1972, is 9
amended as follows: 10
73-35-17. (1) A fee not to exceed One Hundred Dollars 11
($100.00) shall accompany an application for a real estate 12
broker's license, and in the event that the applicant successfully 13
passes the examination, no additional fee shall be required for 14
the issuance of a license for a one-year period; provided, that if 15
an applicant fails to pass the examination, he may be eligible to 16
take the next or succeeding examination without the payment of an 17
additional fee. In the event a contract testing service is 18
utilized, the fee associated with administering the test shall be 19
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collected by the testing provider and the application fee for any 20
real estate license shall be collected by the commission. 21
(2) For each license as a real estate broker issued to a 22
member of a partnership, association or officer of a corporation 23
other than the member or officer named in the license issued to 24
such partnership, association or corporation, a fee not to exceed 25
Seventy-five Dollars ($75.00) shall be charged. 26
(3) A fee not to exceed One Hundred Dollars ($100.00) shall 27
accompany an application for a real estate salesperson's license, 28
and in the event that the applicant successfully passes the 29
examination, no additional fee shall be required for the issuance 30
of a license for a one-year period; provided, that if an applicant 31
fails to pass the examination, he may be eligible to take the next 32
or succeeding examination without the payment of an additional 33
fee. In the event a contract testing service is utilized, the fee 34
associated with administering the test shall be collected by the 35
testing provider and the application fee for any real estate 36
license shall be collected by the commission. 37
(4) Except as provided in Section 33-1-39, it shall be the 38
duty of all persons, partnerships, associations, companies or 39
corporations licensed to practice as a real estate broker or 40
salesperson to register with the commission annually or 41
biennially, in the discretion of the commission, according to 42
rules promulgated by it and to pay the proper registration fee. 43
An application for renewal of license shall be made to the 44
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commission annually no later than December 31 of each year, or 45
biennially on a date set by the commission. A licensee failing to 46
pay his renewal fee after the same becomes due and after two (2) 47
months' written notice of his delinquency mailed to him by United 48
States certified mail addressed to his address of record with the 49
commission shall thereby have his license automatically cancelled. 50
Any licensee renewing in this grace period shall pay a penalty in 51
the amount of * * * fifty percent (50%) of the renewal fee. The 52
renewal fee shall not exceed Seventy-five Dollars ($75.00) per 53
year for real estate brokers, partnerships, associations and 54
corporations. The renewal fee for a real estate salesperson's 55
license shall not exceed Sixty Dollars ($60.00) per year. 56
(5) For each additional office or place of business, an 57
annual fee not to exceed Fifty Dollars ($50.00) shall be charged. 58
(6) For each change of office or place of business, a fee 59
not to exceed Fifty Dollars ($50.00) shall be charged. 60
(7) For each duplicate or transfer of salesperson's license, 61
a fee not to exceed Fifty Dollars ($50.00) shall be charged. 62
(8) For each duplicate license, where the original license 63
is lost or destroyed, and affidavit made thereof, a fee not to 64
exceed Fifty Dollars ($50.00) shall be charged. 65
(9) To change status as a licensee from active to inactive 66
status, a fee not to exceed Twenty-five Dollars ($25.00) shall be 67
charged. To change status as a licensee from inactive to active 68
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status, a fee not to exceed Fifty Dollars ($50.00) shall be 69
charged. 70
(10) For each bad check received by the commission, a fee 71
not to exceed Twenty-five Dollars ($25.00) shall be charged. 72
(11) A fee not to exceed Five Dollars ($5.00) per hour of 73
instruction may be charged to allay costs of seminars for 74
educational purposes provided by the commission. 75
(12) A fee not to exceed Twenty-five Dollars ($25.00) may be 76
charged for furnishing any person a copy of a real estate license, 77
a notarized certificate of licensure or other official record of 78
the commission. 79
(13) A fee not to exceed One Hundred Dollars ($100.00) shall 80
be charged to review and process the application and instructional 81
materials for each curriculum seeking acceptance as a real estate 82
continuing education course developed to satisfy the mandatory 83
continuing education requirements for this chapter, with the 84
period of approval expiring after one (1) year. A fee not to 85
exceed Fifty Dollars ($50.00) shall be charged for each renewal of 86
a previously approved course, with the period of renewal expiring 87
after one (1) year. 88
(14) Fees, up to the limits specified herein, shall be 89
established by the Mississippi Real Estate Commission. 90
SECTION 2. Section 73-35-7, Mississippi Code of 1972, is 91
brought forward as follows: 92
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73-35-7. Licenses shall be granted only to persons who 93
present, and to corporations, partnerships, companies or 94
associations whose officers, associates or partners present 95
satisfactory proof to the commission that they are trustworthy and 96
competent to transact the business of a real estate broker or real 97
estate salesperson in such manner as to safeguard the interests of 98
the public. Except as otherwise provided in this section, every 99
person who applies for a resident license as a real estate broker: 100
(a) shall be age twenty-one (21) years or over, and have his legal 101
domicile in the State of Mississippi at the time he applies; (b) 102
shall be subject to the jurisdiction of this state, subject to the 103
income tax laws and other excise laws thereof, subject to the road 104
and bridge privilege tax laws thereof; (c) shall not be an elector 105
in any other state; (d) shall have held a license as an active 106
real estate salesperson for twelve (12) months prior to making 107
application for the broker's examination hereafter specified; (e) 108
shall have successfully completed a minimum of one hundred twenty 109
(120) hours of courses in real estate as hereafter specified; (f) 110
shall have successfully completed the real estate broker's 111
examination as hereafter specified; and (g) shall have 112
successfully been cleared for licensure by the commission's 113
background investigation as provided in Section 73-35-10; and (h) 114
sign a form under penalty of perjury stating that the applicant 115
will not hire any real estate salespersons for thirty-six (36) 116
months from the date of approval of his or her active real estate 117
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salesperson's license. The real estate commission shall create a 118
standard form to comply with the requirements of this section. 119
Upon completion of such restriction provided in this paragraph (h) 120
of this section, the real estate broker is authorized to employ 121
any number of real estate salespersons. 122
The provisions of paragraph (h) shall not apply to an 123
applicant who seeks to hire a real estate salesperson in less than 124
thirty-six (36) months from the date of approval of his or her 125
active real estate salesperson's license. Any person who desires 126
to hire a real estate salesperson in less than thirty-six (36) 127
months from the date of approval of his or her active real estate 128
salesperson's license shall: (a) be age twenty-one (21) years or 129
over, and have his or her legal domicile in the State of 130
Mississippi at the time he or she applies; (b) be subject to the 131
jurisdiction of this state, subject to the income tax laws and 132
other excise laws thereof, subject to the road and bridge 133
privilege tax laws thereof; (c) not be an elector in any other 134
state; (d) have held a license as an active real estate 135
salesperson for thirty-six (36) months prior to making application 136
for the broker's examination hereafter specified; (e) have 137
successfully completed a minimum of one hundred twenty (120) hours 138
of courses in real estate as hereafter specified; (f) have 139
successfully completed the real estate broker's examination as 140
hereafter specified; and (g) have successfully been cleared for 141
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licensure by the commission's background investigation as provided 142
in Section 73-35-10. 143
An applicant who has not held an active real estate 144
salesperson's license for a period of at least thirty-six (36) 145
months prior to submitting an application shall have successfully 146
completed a minimum of one hundred fifty (150) classroom hours in 147
real estate courses, which courses are acceptable for credit 148
toward a degree at a college or university as approved by the 149
Southern Association of Colleges and Schools. 150
Every applicant for a resident license as a real estate 151
salesperson shall be age eighteen (18) years or over, shall be a 152
bona fide resident of the State of Mississippi prior to filing his 153
application, shall have successfully completed a minimum of sixty 154
(60) hours in courses in real estate as hereafter specified, and 155
shall have successfully completed the real estate salesperson's 156
examination as hereafter specified. 157
The residency requirements set forth in this section shall 158
not apply to those licensees of other states who qualify and 159
obtain nonresident licenses in this state. 160
The commission is authorized to exempt from such prelicensing 161
educational requirements, in whole or in part, a real estate 162
licensee of another state who desires to obtain a license under 163
this chapter, provided that the prelicensing educational 164
requirements in the other state are determined by the commission 165
to be equivalent to prelicensing educational requirements in this 166
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state and provided that such state extends this same privilege or 167
exemption to Mississippi real estate licensees. The issuance of a 168
license by reciprocity to a military-trained applicant, military 169
spouse or person who establishes residence in this state shall be 170
subject to the provisions of Section 73-50-1 or 73-50-2, as 171
applicable. 172
SECTION 3. Section 73-35-18, Mississippi Code of 1972, is 173
brought forward as follows: 174
73-35-18. (1) Each individual applicant for renewal of a 175
license issued by the Mississippi Real Estate Commission shall, on 176
or before the expiration date of his license, or at a time 177
directed by the commission, submit proof of completion of not less 178
than sixteen (16) clock hours of approved course work to the 179
commission, in addition to any other requirements for renewal. 180
The sixteen (16) clock hours' course work requirement shall apply 181
to each two-year license renewal, and hours in excess thereof 182
shall not be cumulated or credited for the purposes of subsequent 183
license renewals except as provided in this subsection (1). The 184
commission shall develop standards for approval of courses and 185
shall require certification of such course work of the applicant. 186
The commission may determine any required subject matter within 187
the mandated sixteen (16) hours; provided that the required 188
subjects shall not exceed eight (8) hours of the total sixteen 189
(16) hours. Approved continuing education hours earned in the 190
final three (3) months of a licensee's renewal period, if in 191
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excess of the required minimum sixteen (16) hours, may be carried 192
over and credited to the next renewal period. However, no more 193
than six (6) hours may be carried over in this manner. Any member 194
of the Mississippi Legislature who has a real estate license shall 195
be credited with eight (8) hours of credit for the attendance of 196
each year of a legislative session. No person may receive 197
continuing education credit for prelicense education courses 198
taken, except as follows: a licensee whose license is on inactive 199
status and whose continuing education credits are at least thirty 200
(30) hours in arrears may, at the discretion of the commission, 201
receive continuing education credit for retaking prelicense 202
coursework, provided the entire prelicense course is retaken. 203
(2) This section shall apply to renewals of licenses which 204
expire on and after July 1, 1994; however, an applicant for first 205
renewal who has been licensed for not more than one (1) year shall 206
not be required to comply with this section for the first renewal 207
of the applicant's license. The provisions of this section shall 208
not apply to persons who have held a broker's or salesperson's 209
license in this state for at least twenty-five (25) years and who 210
are at least sixty-five (65) years of age. Inactive licensees are 211
not required to meet the real estate continuing education 212
requirements specified in this section; however, such inactive 213
licensees, before activating their license to active status, must 214
cumulatively meet requirements missed during the period their 215
license was inactive. 216
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ST: Real estate brokers license; reduce penalty
for late renewal of from 100% to 50% of renewal
fee.
(3) A renewal of a license issued by the commission which 217
expires after June 30, 2019, must include a current email address 218
for the applicant. Any email address previously provided by an 219
applicant to the commission which is no longer valid or the 220
primary email address of the applicant must be updated when a 221
renewal application is submitted under this section. 222
(4) The commission shall promulgate rules and regulations as 223
necessary to accomplish the purposes of this section in accordance 224
with the Mississippi Administrative Procedures Law. 225
(5) [Repealed] 226
SECTION 4. This act shall take effect and be in force from 227
and after July 1, 2026. 228