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HB862

Real estate licenses; required to obtain a business entity license.

Status:
Enacted

Chief Patron:
Chris Peace (R)

Session:
2018 Regular Session

Summary

As Passed House of Origin. Professions and occupations; real estate licenses; real estate teams.

Requires real estate teams as defined in the bill to obtain a business entity salesperson's license from the Real Estate Board (the Board). The bill requires a principal broker to obtain a branch office license from the Board for each place of business maintained by such principal broker within the Commonwealth. The bill also expands the responsibilities of supervising brokers as defined in the bill and requires that as a condition of the renewal of a branch office license, the supervising broker shall provide to the Board the name and license number of each real estate licensee affiliated with the branch office at the time of the renewal. The bill has a delayed effective date of January 1, 2019. This bill is identical to SB 758. (Less)

  • Bill History

  • 01/09/2018 - House: Prefiled and ordered printed; offered 01/10/18 18104635D
  • 01/09/2018 - House: Referred to Committee on General Laws
  • 01/19/2018 - House: Assigned GL sub: Subcommittee #2
  • 01/29/2018 - House: Impact statement from DPB (HB862)
  • 02/01/2018 - House: Subcommittee recommends reporting with substitute (6-Y 0-N)
  • 02/06/2018 - House: Reported from General Laws with substitute (22-Y 0-N)
  • 02/06/2018 - House: Committee substitute printed 18106546D-H1
  • 02/08/2018 - House: Impact statement from DPB (HB862H1)
  • 02/08/2018 - House: Read first time
  • 02/09/2018 - House: Read second time
  • 02/09/2018 - House: Committee substitute agreed to 18106546D-H1
  • 02/09/2018 - House: Engrossed by House - committee substitute HB862H1
  • 02/12/2018 - House: Read third time and passed House BLOCK VOTE (100-Y 0-N)
  • 02/12/2018 - House: VOTE: BLOCK VOTE PASSAGE (100-Y 0-N)
  • 02/13/2018 - Senate: Constitutional reading dispensed
  • 02/13/2018 - Senate: Referred to Committee on General Laws and Technology
  • 02/19/2018 - Senate: Reported from General Laws and Technology (13-Y 0-N)
  • 02/21/2018 - Senate: Constitutional reading dispensed (40-Y 0-N)
  • 02/22/2018 - Senate: Read third time
  • 02/22/2018 - Senate: Passed Senate (40-Y 0-N)
  • 02/26/2018 - House: Enrolled
  • 02/26/2018 - House: Bill text as passed House and Senate (HB862ER)
  • 02/26/2018 - House: Impact statement from DPB (HB862ER)
  • 02/26/2018 - House: Signed by Speaker
  • 02/28/2018 - Senate: Signed by President
  • 03/02/2018 - House: Enrolled Bill communicated to Governor on March 2, 2018
  • 03/02/2018 - Governor: Governor's Action Deadline Midnight, March 9, 2018
  • 03/09/2018 - Governor: Approved by Governor-Chapter 223 (effective 1/1/19)
  • 03/09/2018 - Governor: Acts of Assembly Chapter text (CHAP0223)

Full text and vote history:

Virginia Legislative Information System

RichmondSunlight.com

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