HB5359 Summary

• Increases broker management continuing education requirement from 6 hours to 12 hours per pre-renewal period for managing broker licensees, with coursework required in classroom or interactive delivery format.

• Creates new Section 20-78 establishing confidentiality protections for Department investigations and complaints, with exceptions for law enforcement, regulatory agencies, and lawful subpoenas; formal complaints and orders remain public records.

• Modifies Real Estate Recovery Fund procedures to require post-judgment court orders (rather than direct judgments) for fund collection and adds specific evidentiary hearing requirements for claimants to prove eligibility.

• Expands grounds for disciplinary action under Section 20-20 to include administrative sanctions from government agencies and removes statute of limitations exception for violations involving false application information.

• Updates managing broker advertising requirements to exempt "For Sale" or similar signs from mandatory identification as managing broker and clarifies language regarding licensee discipline authority.