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OK HB3018
Bill
Status
2/1/2016
Primary Sponsor
Kevin Calvey
Click for details
AI Summary
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Amends Oklahoma Real Estate License Code (59 O.S. 2011, Section 858-312.1) to create an exception for persons whose real estate license was revoked due to a felony conviction
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Allows former licensees with felony-based revocations to hold an ownership interest in a real estate business without reinstating their license, after waiting the same period required for new applicants
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Requires the real estate business to be properly licensed and all individuals acting as brokers or sales associates to hold valid licenses
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Prohibits the former licensee from performing any acts that would require a license under the Real Estate License Code
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Effective date: November 1, 2016
Legislative Description
Professions and occupations; Oklahoma Real Estate License Code; modifying prohibition from participation in real estate business; effective date.
Last Action
Second Reading referred to Economic Development, Commerce and Real Estate
2/2/2016