AL HB402

Increases continuing education requirement for real estate license renewal from 15 to 18 clock hours per two-year license period.

Adds definitions for property management, accredited schools, and approved continuing education only schools offering real estate courses.

Clarifies requirements for schools, administrators, and instructors offering real estate courses, including licensing and bonding requirements for proprietary schools.

Requires a real estate license for certain lease and rental arrangements, including collection and escrow of security deposits and rental payments.

Amends brokerage agreement requirements for co-brokerage transactions, limiting non-resident principal brokers to three co-brokerage agreements per calendar year before requiring an Alabama reciprocal broker's license.