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Substitute House Bill No. 6773

Public Act No. 15-98

AN ACT CONCERNING LICENSURE REQUIREMENTS FOR REAL ESTATE BROKERS.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. Subsection (d) of section 20-314 of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2016):

(d) (1) Each applicant applying for a real estate broker's license on or after July 1, 2016, shall, before being admitted to such examination, prove to the satisfaction of the commission [: ] that the applicant (A) (i) [That the applicant] has been actively engaged for at least two years as a licensed real estate salesperson under the supervision of a licensed real estate broker in this state, (ii) [that the applicant] has successfully completed a course approved by the commission in real estate principles and practices of at least sixty classroom hours of study, (iii) [that the applicant] has successfully completed a course approved by the commission in real estate [appraisal] legal compliance consisting of at least [thirty] fifteen classroom hours of study, [and (iv) that the applicant] (iv) has successfully completed a course approved by the commission in real estate brokerage principles and practices consisting of at least [thirty] fifteen classroom hours, and (v) has successfully completed two elective courses, each consisting of fifteen classroom hours of study, as prescribed by the commission, or (B) [that the applicant] has equivalent experience or education as determined by the commission.

(2) The commission shall waive the elective courses under subparagraph (A)(v) of subdivision (1) of this subsection if the applicant has successfully completed at least twenty real estate transactions within five years immediately preceding the date of application. As used in this subdivision, "real estate transaction" means any transaction in which real property is legally transferred to another party or in which a lease agreement is executed between a landlord and a tenant.

[(2)] (3) Each applicant for a real estate salesperson's license shall, before being admitted to such examination, prove to the satisfaction of the commission that the applicant (A) [that the applicant] has successfully completed a course approved by the commission in real estate principles and practices consisting of at least sixty classroom hours of study, or (B) [that the applicant] has equivalent experience or education as determined by the commission.

Approved June 22, 2015