SB3142 Summary

• Modifies continuing education completion deadlines for auctioneers, home inspectors, real estate appraisers, and real estate licensees by requiring the Department to establish specific deadlines rather than tying completion to license expiration dates.

• Expands definitions of "broker" and "person" in the Real Estate License Act to explicitly include entities, corporations, foreign or domestic partnerships, limited liability companies, and other business entities.

• Requires nonparticipating owners, officers, partners, members, and managers of business entities seeking broker licenses to submit affidavits of nonparticipation and prohibits licensure if any owner has been denied a real estate license or is barred from practice.

• Removes restrictions on leasing agents and business entities owning real estate brokerage firms and clarifies licensing requirements for managing brokers, brokers, and leasing agents operating through various business structures.

• Takes effect immediately upon becoming law.