A bill

 

TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 40-57-20, RELATING TO LICENSURE REQUIREMENTS FOR REAL ESTATE BROKERS, SALESPERSONS, AND PROPERTY MANAGERS, SO AS TO REQUIRE LICENSURE FOR INDIVIDUALS RESPONSIBLE FOR THE RENTAL OR MANAGEMENT OF THREE OR MORE PROPERTIES; AND BY AMENDING SECTION 40-57-240, RELATING TO APPLICABILITY OF THE CHAPTER REGULATING REAL ESTATE BROKERS, BROKERS-IN-CHARGE, ASSOCIATES, AND PROPERTY MANAGERS, SO AS TO MAKE CONFORMING CHANGES.

 

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 an individual:

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

       (2) to directly or indirectly manage or operate three or more rental properties that he directly or indirectly owns in whole or in part in this State without:

           (a) a valid, active real estate brokerage license or property manager license in this State, or

           (b) contracting with the holder of a valid, active real estate brokerage license or property manager license in this State.

 

SECTION 2.  Section 40-57-240(1) of the S.C. Code is amended to read:

 

    (1) the sale, lease, or rental of real estate by an unlicensed owner of real estate who directly or indirectly owns any interest in the real estate if the interest being sold, leased, or rented is identical to the owner's legal interest, except as provided for an individual responsible for the rental or management of three or more rental properties pursuant to Section 40-57-20(2);

 

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

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