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AR HB1265

Bill

Official Source

Status

Passed

2/17/2023

Primary Sponsor

Carol Dalby

Click for details

Origin

House of Representatives

94th General Assembly (2023 Regular)

AI Summary

  • Amends Arkansas Code § 17-42-103(8) to modify the definition of "licensee" under the Real Estate License Law
  • Allows licensed brokers and salespersons to do business as a professional limited liability company under § 4-38-1201 et seq.
  • Permits licensees to continue doing business as professional corporations under § 4-29-101 et seq.
  • Allows licensees to receive earned commission payments from real estate firms or principal brokers to their legal business entity
  • Approved February 17, 2023

Legislative Description

To Amend The Real Estate License Law; To Modify The Definition Of "licensee" Under The Real Estate License Law; And To Allow A Broker Or Salesman To Do Business As A Professional Limited Liability Company.

Last Action

Notification that HB1265 is now Act 93

2/17/2023

Committee Referrals

Insurance & Commerce2/6/2023
Insurance and Commerce1/26/2023

Full Bill Text

No bill text available