SF0080 • 2014

Real estate licensure-revisions.

AN ACT relating to real estate licensure; amending provisions regarding violations of the real estate licensure statutes; amending requirements for designated real estate licensees; and providing for an effective date.

Enacted

This bill passed the Legislature and reached final enactment based on the latest official action.

Sponsor: Senator Anderson, J.L. (SD28)
Last action: 2014-03-11
Official status: enrolled
Effective date: 3/10/2014

Plain English Breakdown

The plain English breakdown is still being put together. The official documents below are already here.

Amendments

These notes stay tied to the official amendment files and metadata from the legislature.

SF0080H2001

2nd reading • WALTERS

Adopted

Plain English: Adopted 2nd reading by WALTERS

This amendment summary is using official source text because generated interpretation was skipped for this run.
The official amendment text was available, but an easy plain-English summary could not be produced automatically during the last sync.

SF0080HS001

Standing Committee • H03

Adopted

Plain English: Adopted Standing Committee by H03

This amendment summary is using official source text because generated interpretation was skipped for this run.
The official amendment text was available, but an easy plain-English summary could not be produced automatically during the last sync.

Bill History

2014-03-11 LSO
Assigned Chapter Number
2014-03-10 Governor
Governor Signed SEA0056
2014-03-05 House
H Speaker Signed SEA No. 0056
2014-03-05 Senate
S President Signed SEA No. 0056
2014-03-05 LSO
Assigned Number SEA0056
2014-03-05 Senate
S Did Concur
2014-03-04 Senate
S Received for Concurrence
2014-03-04 House
H Passed 3rd Reading
2014-03-03 House
H Passed 2nd Reading
2014-03-03 House
Amendment Adopted
2014-02-28 House
H Passed CoW
2014-02-28 House
H Amendments Adopted
2014-02-28 House
Amendment Adopted
2014-02-28 House
H Placed on General File
2014-02-28 House
H03 Recommended Amend and Do Pass
2014-02-26 House
H Introduced and Referred to H03
2014-02-25 House
H Received for Introduction
2014-02-25 Senate
S Passed 3rd Reading
2014-02-24 Senate
S Passed 2nd Reading
2014-02-21 Senate
S Passed CoW
2014-02-20 Senate
S Placed on General File
2014-02-20 Senate
S07 Recommended Do Pass
2014-02-12 Senate
S Introduced and Referred to S07
2014-02-11 Senate
S Received for Introduction
2014-02-10 LSO
Bill Number Assigned

Official Summary Text

Bill No.: <billno> Drafter: <drafterinit>

Bill No.:
SF0080
Drafter:

LGC

LSO No.:
14LSO-0303
Effective Date:

Immediate

Enrolled Act No.:
SEA0056

Chapter No.:
CH0118

Prime Sponsor:
Senator Anderson, J.L. (SD28)

Catch Title:
Real estate licensure-revisions.

Subject:
Real estate licenses.

Summary/Major
Elements:

Under current law, a real estate company may designate a
licensee for in house real estate transactions if the salesman is under the
direct supervision of a responsible broker and the responsible broker is not a
party to the transaction or a transaction manager.

This bill amends the requirement to require that the
designated licensee must be:

A salesman under the direct supervision of the
responsible broker and the broker is not a party to the transaction; or

A salesman who is under the direct supervision of a
transaction manager.

Current Bill Text

Read the full stored bill text

WORKING DRAFT

ORIGINAL SENATE
FILE

NO.
0080

ENROLLED ACT NO. 56, SENATE

SIXTY-SECOND LEGISLATURE OF THE STATE OF WYOMING
2014 BUDGET SESSION

AN ACT relating to
real estate licensure; amending
provisions regarding
violation
s
of the real estate licensure statutes; amending requirements for designated real estate licensees;
and providing for an effective date.

Be It Enacted by the Legislature of the State of Wyoming:

Section 1.

W.S. 33
‑
28
‑
111(a)(v)
and
(xx) and 33
‑
28
‑
302(h)(iii) are amended to read:

33
‑
28
‑
111.

Censure of licensee and suspension or revocation of license; grounds.

(a)

The commission shall upon a written sworn complaint or may upon its own motion investigate the actions of any licensee conducting real estate activity regarding real estate located in Wyoming, impose an administrative fine not to exceed two thousand five hundred dollars ($2,500.00) for each separate offense and may censure a licensee, place a licensee on probation and set the terms of probation, suspend or revoke any license issued under this act for any of the following:

(v)

Conducting real estate activity directly with
an owner or lessor

a buyer or seller
if the licensee knows the
owner or lessor

buyer or seller
has an outstanding written agreement in connection with
the
real estate with another responsible broker;

(xx)

Failing to obtain written listing agreements identifying the property

to be
sold or
acquired
and containing all terms and conditions under which the property is to be sold

or acquired

including the price
or
price range
, the compensation to be paid, the signatures of all parties concerned and a definite expiration date;

33
‑
28
‑
302.

Relationships between licensees and the public.

(h)

If a real estate company has more than one (1) licensee, the responsible broker and any licensee associated with or engaged by that responsible broker may be designated to work with the seller or the buyer as a designated licensee. For an in-house real estate transaction, the designated licensee shall be:

(iii)

A salesman under the direct supervision of a responsible broker, and
the responsible broker is not
:

(A)

a
party to the real estate transaction; or

(B)
(iv)

A
salesman
who
is u
nder the direct supervision of a
transaction manager.

Section 2.

This act is effective immediately upon completion of all acts necessary for a bill to become law as provided by Article 4, Section 8 of the Wyoming Constitution.

(END)

Speaker of the House

President of the Senate

Governor

TIME APPROVED: _________

DATE APPROVED: _________

I hereby certify that this act originated in the Senate.

Chief Clerk