STATE OF OKLAHOMA

1st Session of the 54th Legislature (2013)

HOUSE BILL 1427	By:	Hardin

AS INTRODUCED

An Act relating to professions and occupations; amending 59 O.S. 2011, Section 858-310, which relates to the Oklahoma Real Estate License Code; authorizing certain brokers to supervise branch offices; and providing an effective date.

BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1.     AMENDATORY     59 O.S. 2011, Section 858-310, is amended to read as follows:
Section 858-310.  A.  A real estate broker shall maintain a specific place of business.  Such place of business shall comply with all local laws and shall be available to the public during reasonable business hours.
B.  If a real estate broker maintains more than one place of business and the additional location is an extension of the main office, a branch office license must shall be obtained for each additional location.  Each branch office shall be under the direction and supervision of a separate broker or the branch broker as appointed by the broker and shall be considered a managing broker of the branch office.  A broker shall be authorized to supervise the main office and two additional branch offices and a branch broker shall be authorized by the broker to supervise up to three branch offices.  Application shall be made upon forms as prescribed by the Commission.
SECTION 2.  This act shall become effective November 1, 2013.

54-1-6130	LRB	01/03/13