A bill

 

TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 40-57-20, RELATING TO VALID LICENSURE REQUIREMENTs FOR REAL ESTATE BROKERS, SALESPERSONS, AND PROPERTY MANAGERS, SO AS TO PROHIBIT REAL ESTATE BROKERAGE FIRMS FROM ENGAGING IN THE REAL ESTATE BROKERAGE BUSINESS UNLESS ITS ACTIVITIES ARE CONDuCTED BY LICENSEES OR UNDER THE SUPERVISION OF A BROKER-IN-CHArGE OR PROPERTY MANAGER-iN-CHARGE; AND BY AMENDING SECTION 40-57-30, RELATING TO DEFINITIONS IN THE REAL ESTATE PRACTICE ACT, SO AS TO REVISE CERTAIN DEFINITIONS.

 

Be it enacted by the General Assembly of the State of South Carolina:

 

SECTION 1.  Section 40-57-20 of the S.C. Code is amended to read:

 

    Section 40-57-20.  It is unlawful for:

    (1) an individual to act as a real estate broker, real estate salesperson, or real estate property manager or to advertise or provide services as such without an active, valid license issued by the commission; or

    (2) a real estate brokerage firm to engage in the real estate brokerage business unless its activities are conducted by licensees or under the supervision of a broker-in-charge or property manager-in-charge.

 

SECTION 2.  Section 40-57-30(23) and (24) of the S.C. Code is amended to read:

 

    Section 40-57-30.  For purposes of this chapter:

   

    (23) "Real estate brokerage" means the aspect of the real estate business that involves activities relative to property management or a real estate sale, exchange, purchase, lease, short-term rental, or long-term rental.

    (24) "Real estate brokerage firm" means a real estate company engaged in the business of real estate brokerage, whether done in person, telephonically, or online.

 

SECTION 3.  This act takes effect upon approval by the Governor.

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