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WEST VIRGINIA LEGISLATURE REGULAR SESSION ENGROSSED House Bill 5632 By Delegates Lucas, Warner, Howell, Akers, Adkins, Crouse, Dean, Campbell, Maynor, and Ross [Introduced February 12, 2024;
WEST VIRGINIA LEGISLATURE REGULAR SESSION ENROLLED House Bill 5632 BY DELEGATES LUCAS, WARNER, OWELL , KERS, A DKIN, CROUSE, DEAN, AMPBELL, MAYNOR,AND ROSS [Passed March 6, 2024;
Referred to the Committee on Government Organization] Eng HB 5632 A BILL to amend and reenact §30-40-4, §30-40-12, and §30-40-17 of the Code of West Virginia, 1931, as amended, relating to the West Virginia Real Estate License Act;
in effect ninety days from passage.] Enr HB 5632 AN ACT to amend and reenact §30-40-4, §30-40-12, and §30-40-17 of the Code of West Virginia, 1931, as amended, relating to the West Virginia Real Estate License Act;
"Commission" means the West Virginia Real Estate Commission as established §30-40-6 of this code.
"Commission" means the West Virginia Real Estate Commission as established §30-40- 6 of this code.
Eng HB 5632 "Designated broker" means a person holding a broker's license who has been appointed by a partnership, association, corporation, or other form of business organization engaged in the real estate brokerage business, to be responsible for the acts of the business and to whom the partners, members, or board of directors have delegated full authority to conduct the real estate brokerage activities of the business organization.
Enr HB 5632 "Designated broker" means a person holding a broker's license who has been appointed by a partnership, association, corporation, or other form of business organization engaged in the real estate brokerage business, to be responsible for the acts of the business and to whom the partners, members, or board of directors have delegated full authority to conduct the real estate brokerage activities of the business organization.
Eng HB 5632 "Salesperson" means a person employed or engaged by or on behalf of a broker to do or deal in any activity included in this article, in the name of and under the direct supervision of a broker, other than an associate broker:
Enr HB 5632 "Salesperson" means a person employed or engaged by or on behalf of a broker to do or deal in any activity included in this article, in the name of and under the direct supervision of a broker, other than an associate broker:
(i) Real estate experience as a licensed real estate salesperson during the two years prior to the date of application showing the applicant's representation of a buyer or seller in a minimum of 10 20 closed transactions;
(i) Real estate experience as a licensed real estate salesperson during the two years prior to the date of application showing the applicant's representation of a buyer or seller in a minimum of 20 closed transactions;
if the applicant is engaged solely in the leasing or renting of real estate, representation of the landlord or tenant in a minimum of 10 20 closed transactions of at least one year in duration;
if the applicant is engaged solely in the leasing or renting of real estate, representation of the landlord or tenant in a minimum of 20 closed transactions of at least one year in duration;
a minimum of 20 40 closed transactions;
a minimumof 40 closed transactions;
if the applicant is engaged solely in the leasing or renting of real estate, representation of the landlord or tenant in a minimum of 20 40 closed transactions of at least one year duration;
if the applicant is engaged solely in the leasing or renting of real estate, representation of the landlord or tenant in a minimum of 40 closed transactions of at least one year duration;
or if the applicant is engaged solely in the management of a real estate brokerage company, active involvement in a minimum of 30 40 closed transactions.
or if the applicant is engaged solely in the management of a real estate brokerage company, active involvement in a minimum of 40 closed transactions.
Eng HB 5632 (2) Submit satisfactory evidence of having completed the required education course as provided for in §30-40-14 of this code;
Enr HB 5632 (2) Submit satisfactory evidence of having completed the required education course as provided for in §30-40-14 of this code;
and Eng HB 5632 (5) Promptly return the license of any associate broker or salesperson whose affiliation with the broker is terminated.
and Enr HB 5632 (5) Promptly return the license of any associate broker or salesperson whose affiliation with the broker is terminated.
Enr HB 5632 The Clerk of the House of Delegates and the Clerk of the Senate hereby certify that the foregoing bill is correctly enrolled.
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Clerk of the House of Delegates ...............................................................
Clerk of the Senate Originated in the House of Delegates.
In effect ninety days from passage.
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Speaker of the House of Delegates ...............................................................
President of the Senate __________ The within is ................................................
this the...........................................
Day of ..........................................................................................................., 2024.
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Governor 5
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