Chapter 317

2004 -- H 7997

Enacted 07/03/04

A N A C T

RELATING TO BUSINESSES AND PROFESSIONS - - REAL ESTATE BROKERS AND

SALESPERSONS

Introduced By: Representative John J. McCauley

Date Introduced: February 12, 2004

It is enacted by the General Assembly as follows:

     SECTION 1. Section 5-20.5-4 of the General Laws in Chapter 5-20.5 entitled "Real

Estate Brokers and Salespersons" is hereby amended to read as follows:

5-20.5-4. Examination of applicants -- Examination fee -- Licensing without

examination. -- (a) The director requires any applicant for a real estate broker's or salesperson's

license to submit to and pass a written examination to show the applicant's knowledge of reading,

writing, spelling, elementary arithmetic, and in general the statutes relating to real property,

deeds, mortgages, leases, contracts, and agency. The director deems that the uniform portion of

the Rhode Island real estate examination has been passed if the applicant has a current real estate

license from a state which allows a similar reciprocal waiver for persons holding a current Rhode

Island broker's or salesperson's license and has been licensed for a period of not less than two (2)

years; provided, that the applicant must be tested for the remainder of the Rhode Island real estate

examination as administered by the department of business regulation. An applicant for a real

estate broker's or salesperson's license, prior to the taking of the examination, pays to the director

an examination fee, the cost of which is limited to the charge as designated by the appropriate

testing service's contract with the department of business regulation.

      (b) The applicant for a broker's license must also submit satisfactory proof that he or she

has been engaged full time as a real estate salesperson for at least one year prior to the date of

application, except that the period is waived if the applicant has received a baccalaureate degree

with a major in real estate, from an accredited college or university; or has successfully

completed at least ninety (90) hours of classroom study in a school as defined in section 5-20.5-

19, or equivalent in a correspondence course offered by an extension department of an accredited

college or university. The director may require any other proof, through the application or

otherwise, that he or she desires with regard to the paramount interests of the public, as to the

honesty, trustworthiness, integrity, good reputation, and competency of the applicant.

      (c) The director shall notify applicants of the result of the examination within thirty (30)

days of the date of the examination. Any successful applicant who fails to remit the original

license fee as provided in section 5-20.5-11 within one year of the date of that examination is may

be required by the director to re-submit to and pass a written examination as provided in

subsection (a).

      (d) When an attorney-at-law licensed by the supreme court of the state desires to have a

real estate broker's license or a real estate salesperson's license, the attorney, by application, and

upon payment of the applicable fee as provided in section 5-20.5-11, is granted a license without

examination.

      (e) A certificate of licensure is issued by the real estate division of the department of

business regulation within thirty (30) days after it is requested at a cost of not more than fifteen

dollars ($15.00) for each certificate issued.

     SECTION 2. This act shall take effect upon passage.

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LC02452

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