NC S507

Exempts officers and employees of corporations, general partners of partnerships, and managers of limited liability companies from real estate broker licensure requirements when performing acts related to property owned or leased by their entity.

Applies the existing owner/lessor exemption to property management performed by officers, employees, and managers as incident to management of that property and investment therein.

Limits the exemption to acts or services for which the corporation, partnership, or limited liability company itself would qualify for exemption.

Modifies G.S. 93A-2(c)(1) to clarify the scope of the exemption from real estate broker licensing laws.

Effective upon enactment on June 23, 2011.