Chapter 04-608
2004 -- S 2366
Enacted 08/11/04
A N A C T
RELATING
TO BUSINESSES AND PROFESSIONS - REAL ESTATE BROKERS AND
SALESPERSONS
Introduced
By: Senators Cote, Tassoni, and P Fogarty
Date
Introduced: February 11, 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 state
statutes and the rules and
regulations relating to real
property, deeds, mortgages, leases, contracts, and agency. The director
An
applicant shall not be required to take deems that the uniform portion of the
Rhode Island real
estate
licensing examination if the applicant provides sufficient evidence
that the applicant
possesses
an existing valid
has been passed if the applicant has a current real estate license from
a
state which allows that has a similar statutes or
regulations in effect which provide for
reciprocal
waiver of the uniform portion of the real estate licensing examination
for persons
holding
an existing valid a current Rhode Island real estate
broker's or salesperson's license and
the
applicant
has been licensed for a period of not less than two (2) consecutive
years
immediately
prior to the date of his or her application; and further provided, that the
applicant
must
be tested for the remainder of the Rhode Island real estate licensing
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, must pay 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) An applicant for a real estate salesperson’s license must submit
satisfactory evidence
of
completion of a minimum of forty-five (45) classroom hours in a real estate
course given by a
school
as defined in section 5-20.5-19. 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 one (1) year
immediately 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
approved 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, in his or her sole discretion, may require any additional
evidence or 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 any 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
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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LC00892
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