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MI HB4549
Bill
Status
3/23/2021
Primary Sponsor
Michele Hoitenga
Click for details
AI Summary
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Exempts employees or agents hired under property management employment contracts from real estate licensing requirements when performing property management duties for a real estate broker.
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Adds definition of "nonprincipal" to refer to control persons licensed as associate real estate brokers but not designated as principals under the licensing statute.
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Clarifies that additional places of business maintained solely for property management purposes are not subject to branch office licensing and supervision requirements.
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Makes minor grammatical and terminology changes throughout the statute, replacing "which" with "that," "shall" with "must," "rendering" with "performing," and "pursuant to" with "under."
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Effective 90 days after enactment into law.
Legislative Description
Occupations: real estate; certain licensure requirements for employees or agents of a real estate broker hired to perform duties relating to property management; modify. Amends secs. 2501, 2503 & 2505 of 1980 PA 299 (MCL 339.2501 et seq.).
Occupations: business licensing and registration
Last Action
Bill Electronically Reproduced 03/23/2021
3/24/2021