Bills › 90th General Assembly
Relating to real estate brokers, and the rental or leasing of real estate, and including effective date and applicability provisions
Sponsored by the Senate State Government (companion To Hf 2326 By Committee on State Government) Committee
Where it is now
- Done: IntroducedJanuary 17, 2024
- Done: SubcommitteeJanuary 22, 2024
- Done: Senate committeeFebruary 15, 2024
- Done: Passes the SenateApril 1, 202448–0
- Skipped: House committeeSkipped
- Done: Passes the HouseFebruary 19, 202491–0
- Done: To the GovernorApril 19, 2024
- Done: Signed into lawApril 19, 2024
HF 2326 became law → The same legislation passed as HF 2326, so this version was set aside. Go to HF 2326 What’s a funnel?
What’s in it
AI summary People or companies that own part of a business can now manage the rental or leasing of their own real estate without being classified as real estate brokers. Additionally, certain unlicensed employees of real estate brokers would be allowed to perform specific tasks like showing properties, collecting rent, and handling rental agreements. These changes affect how real estate professionals and property owners must follow licensing laws.1
Read the official explanation
This bill relates to real estate brokers, and the rental or leasing of real estate. Under current law, a real estate broker is defined as a person acting for another for a fee, commission, or other compensation or promise, who engages directly or indirectly in the acts enumerated in the bill. Under the bill, a real estate broker is defined as a person acting for another for a fee, commission, or other compensation or promise, who engages in the acts enumerated in the bill. The bill creates an exception to Code chapter 543B for a person, limited liability company, or limited partnership who engages in any act that is related to the rental or leasing of real estate on behalf of a partnership, limited partnership, corporation, or limited liability company, and the person, limited liability company, or limited partnership maintains an ownership interest in the partnership, limited partnership, corporation, or limited liability company. The bill creates an exception to Code chapter 543B for a person who engages in an act related to the rental or leasing of real estate on behalf of a partnership, limited partnership, corporation, or limited liability company, and the person has an ownership interest partnership, limited partnership, corporation, or limited liability company, which is a parent or subsidiary of, or under common control with the leasing partnership, limited partnership, corporation, or limited liability company. The bill also creates an exception to the Code chapter for a person who is a nonlicensed employee of a real estate broker and who engages in advertising, showing, listing, collecting of rents and deposits, procuring of prospects, completing form agreements, and executing form agreements as it relates to the rental of real estate under Code chapter 562A or 562B. The bill takes effect upon enactment. The bill applies to all proceedings that are not finally adjudicated or are otherwise pending on the effective date of the bill, except to the extent such application would affect a person’s contractual or vested rights.
Changed since by amendment S-5106; see Amendments.
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