1438: COMMITTEE SUMMARY (9-24-02) - REALTOR LICENSE: CONTINUING ED

REALTOR LICENSE: CONTINUING ED - S.B. 1438: COMMITTEE SUMMARY

Senate Bill 1438 (as introduced 9-19-02)

Committee: Economic Development, International Trade and Regulatory Affairs

Date Completed: 9-24-02

CONTENT

The bill would amend the Occupation Code to revise the educational requirements for the renewal of a real estate broker's or real estate salesperson's license.

Currently, before being permitted to renew an active real estate broker's or real estate salesperson's license, the licensee must have successfully completed, within the preceding 12 months, at least six clock hours of continuing education approved by the Department of Consumer and Industry Services covering changes in economic conditions, law, rules, court cases, and interpretations relating to real property that are pertinent to the activities of a real estate broker or salesperson. Under the bill, a licensee would have to have successfully completed, within the preceding three-year license cycle, at least 18 clock hours of continuing education approved by the Department covering the same subjects, as well as any topics relevant to the management, operation, and practice of real estate.

In addition, a person who currently offers or conducts a course or courses of study represented to meet the educational requirements first must obtain approval from the Department and must abide by the rules concerning curriculum, instructor qualification, grading system, and other related matters. The bill specifies that in addition to other requirements imposed under rule, in order to receive approval, a course would have to be designed to be taught for at least one clock hour, not including time spent on breaks, meals, or other unrelated activities.

MCL 339.409 et al. - Legislative Analyst: Nobuko Nagata

FISCAL IMPACT

The bill would have no fiscal impact on State or local government.

- Fiscal Analyst: Maria TyszkiewiczS0102\s1438sa

This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.