HB0076 • 2022

Single office real estate brokers-licensing requirements.

AN ACT relating to professions and occupations; eliminating the requirement for a responsible broker of a sole proprietorship to acquire an additional company license; specifying applicability; requiring rulemaking; and providing for an effective date.

Enacted

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

Sponsor: Representative Duncan
Last action: 2022-03-09
Official status: enrolled
Effective date: 3/9/2022

Plain English Breakdown

Checked against official source text during the last sync.

Real Estate Broker Licensing Changes

This law changes licensing requirements for real estate brokers who operate as sole proprietors by removing the need to get an additional company license.

What This Bill Does

Removes the requirement for a responsible broker operating as a sole proprietorship to obtain an extra company license.
Specifies that this change applies to licenses issued on or after July 1, 2022.
Requires the Wyoming Real Estate Commission to create rules to follow these changes.

Who It Names or Affects

Real estate brokers who operate as sole proprietors in Wyoming.

Terms To Know

Responsible broker: A real estate professional responsible for managing a real estate company or office.
Sole proprietorship: A business owned and run by one person with no legal distinction between the owner and the business.

Limits and Unknowns

The law only applies to licenses issued on or after July 1, 2022.
It is unclear how many real estate brokers will be affected by this change.

Amendments

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

HB0076HS001

Standing Committee • House Corporations, Elections & Political Subdivis

Adopted

Plain English: The amendment changes the language in the bill to remove requirements for a responsible broker of a sole proprietorship to get an additional company license.

Removes the requirement for a responsible broker of a sole proprietorship to obtain an extra company license.
Modifies specific sections of the bill text to reflect this change.

The exact impact on current licensing requirements is not fully explained in the amendment text.

Bill History

2022-03-09 LSO
Assigned Chapter Number 33
2022-03-09 Governor
Governor Signed HEA No. 0031
2022-03-07 Senate
S President Signed HEA No. 0031
2022-03-07 House
H Speaker Signed HEA No. 0031
2022-03-07 LSO
Assigned Number HEA No. 0031
2022-03-07 Senate
S 3rd Reading:Passed 28-0-1-0-1
2022-03-04 Senate
S 2nd Reading:Passed
2022-03-03 Senate
S COW:Passed
2022-03-03 Senate
S Placed on General File
2022-03-03 Senate
S07 - Corporations:Recommend Do Pass 5-0-0-0-0
2022-03-01 Senate
S Introduced and Referred to S07 - Corporations
2022-03-01 Senate
S Received for Introduction
2022-02-28 House
H 3rd Reading:Passed 59-0-1-0-0
2022-02-25 House
H 2nd Reading:Passed
2022-02-24 House
H COW:Passed
2022-02-22 House
H Placed on General File
2022-02-22 House
H07 - Corporations:Recommend Amend and Do Pass 8-0-1-0-0
2022-02-17 House
H Introduced and Referred to H07 - Corporations 58-1-1-0-0
2022-02-11 House
H Received for Introduction
2022-02-07 LSO
Bill Number Assigned

Official Summary Text

Bill Summary - 22LSO-0374
Bill No.:

HB0076

Effective:

Immediately

LSO No.:

22LSO-0374

Enrolled Act No.:

HEA No. 0031

Chapter No.:

33

Prime Sponsor:

Duncan

Catch Title:

Single office real estate brokers-licensing requirements.

Subject:

Amending the licensing requirements for single office real estate brokers.

Summary/Major Elements:

This act specifies that a real estate broker operating as a sole proprietorship shall not be required to obtain an additional real estate company license.

This act will apply to licenses issued on or after July 1, 2022.

The Wyoming real estate commission is required to promulgate rules necessary to implement the provisions of this act.

The above summary is not an official publication of the Wyoming Legislature and is not an official statement of legislative intent.

While the Legislative Service Office endeavored to provide accurate information in this summary, it should not be relied upon as a comprehensive abstract of the bill.

Current Bill Text

Read the full stored bill text

22LSO-0374

ORIGINAL House

Bill No
.
HB0076

ENROLLED ACT NO. 31,

HOUSE OF REPRESENTATIVES

SIXTY-SIXTH LEGISLATURE OF THE STATE OF WYOMING
2022 Budget Session

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

Section 1.

W.S. 33
‑
28
‑
109(a) is amended to read:

33
‑
28
‑
109.

Responsible broker to establish a real estate company, maintain fixed principal office; change of address; branch offices; restrictions on associate brokers and salespersons.

(a)

Each resident responsible broker shall lawfully establish at least one (1) but no more than three (3) real estate companies or sole proprietorships within Wyoming and acquire a license for each real estate company
.

or sole proprietorship.
Each resident responsible broker shall maintain a fixed principal office for each company or sole proprietorship within this state.
A resident responsible broker operating as a sole proprietorship shall not be required to acquire an additional company license.
The address of each office shall be designated on all licenses associated with the office and no license issued under this act shall authorize the licensee to transact real estate activity at any other address except a licensed branch office. In case of removal from a designated address, the responsible broker shall apply to the commission before the removal designating the new location of an office and paying the required fee, whereupon the commission shall issue a license for the new location for the unexpired period if the new location complies with the terms of this act.

Section 2
.

This act applies to licenses issued on and after July 1, 2022.

Section 3.

The Wyoming real estate commission shall promulgate rules necessary to implement the provisions of this act.

Section 4.

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 House.

Chief Clerk