SB 437

Abstract

Department of Professional and Occupational Regulation; real estate brokers; places of business. Defines "place of business" for real estate brokers. The bill requires every principal broker to have readily available to the public in his primary place of business the firm license, principal broker license, and the license of every salesperson and broker active with the firm and requires each branch office, defined in the bill, to have readily available to the public the branch office license and a roster of every salesperson or broker assigned to that branch office. Finally, the bill requires any nonresident real estate broker residing in a state that mandates resident real estate brokers of the Commonwealth to maintain a place of business in such mandating state to maintain a place of business in the Commonwealth. This bill is identical to HB 1237.

Department of Professional and Occupational Regulation; real estate brokers; places of business. Defines "place of business" for real estate brokers. The bill requires every principal broker to have readily available to the public in his primary place of business the firm license, principal broker license, and the license of every real estate broker and salesperson active with the firm and requires each branch office, defined in the bill, to have readily available to the public the branch office license and a roster of every real estate broker or salesperson assigned to that branch office. Finally, the bill requires any nonresident real estate broker residing in a state that mandates resident real estate brokers of the Commonwealth to maintain a place of business in such mandating state to maintain a place of business in the Commonwealth.

Department of Professional and Occupational Regulation;real estate brokers; places of business. Defines "place of business"for real estate brokers. The bill requires firm licenses and licensesof branch offices, defined in the bill, to be maintained on the premisesof such firm or branch office and to be made readily available tothe public upon request. Finally, the bill requires any nonresidentreal estate broker residing in a state that mandates resident realestate brokers of the Commonwealth to maintain a place of businessin such mandating state to maintain a place of business in the Commonwealth.