Bill Title: Amends the Real Estate License Act of 2000. Changes references to (1) the Commissioner of Banks and Real Estate to the Secretary of the Department of Financial and Professional Regulation and (2) the Office of Banks and Real Estate to the Department of Financial and Professional Regulation. Changes provisions concerning the application process for a leasing agent license. Requires a managing broker to be licensed by the Department. Specifies the requirements for an applicant to be licensed as (1) a salesperson, (2) a broker, and (3) a managing broker. Changes provisions concerning the examination of certain applicants. Adds provisions concerning the transition (1) from a salesperson's license to a broker's license and (2) to a managing broker's license. Changes provisions concerning continuing education requirements for specified licensees. Adds provisions concerning advertising by licensees. Adds provisions concerning the duties of licensees representing clients. Changes provisions concerning the disclosure of a licensee acting as an agent for a consumer. Amends the Regulatory Sunset Act to change the repeal date of the Act from January 1, 2010 to January 1, 2020. Makes other changes. Effective December 31, 2009.

Spectrum: Moderate Partisan Bill (Democrat 6-1)

Status: (Passed) 2009-12-31 - Public Act . . . . . . . . . 96-0856 [SB1894 Detail]

Text: Latest bill text (Enrolled) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Senator Ira Silverstein [D]	Sponsor	Sponsored Bills	SD-008	FollowTheMoney	Ballotpedia	VoteSmart
Senator Jacqueline Collins [D]	Sponsor	Sponsored Bills	SD-016	FollowTheMoney	Ballotpedia	VoteSmart
Senator Linda Holmes [D]	Sponsor	Sponsored Bills	SD-042	FollowTheMoney	Ballotpedia	VoteSmart
Senator Martin Sandoval [D]	Sponsor	Sponsored Bills	SD-011	FollowTheMoney	Ballotpedia	VoteSmart
Senator Michael Noland [D]	Sponsor	Sponsored Bills	SD-022	FollowTheMoney	Ballotpedia	VoteSmart
Senator Pamela Althoff [R]	Sponsor	Sponsored Bills	SD-032	FollowTheMoney	Ballotpedia	VoteSmart
Senator William Haine [D]	Sponsor	Sponsored Bills	SD-056	FollowTheMoney	Ballotpedia	VoteSmart

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