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Session Laws, 2006
Volume 750, Page 3192   View pdf image
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VETOES
S.B. 684
(3)     The Commission shall pay any penalty collected under this
subsection into the General Fund of the State. (4)      THE COMMISSION MAY NOT IMPOSE A FINE BASED SOLELY ON A
VIOLATION OF SUBSECTION (B)(35) OF THIS SECTION. SUBTITLE 3A. RECIPROCITY. 17-3A-01. (A)     IN THIS SUBTITLE THE FOLLOWING WORDS HAVE THE MEANINGS
INDICATED. (B)     "RECIPROCAL LICENSE" MEANS A LICENSE ISSUED UNDER THIS
SUBTITLE. (C)     "STANDARD LICENSE" MEANS A LICENSE ISSUED UNDER SUBTITLE 3 OF
THIS TITLE. 17-3A-02. (A)     SUBJECT TO THE LIMITATIONS OF THIS SUBTITLE, THE COMMISSION MAY
ISSUE A RECIPROCAL LICENSE TO A PERSON: (1)      HOLDING A CURRENT LICENSE TO PROVIDE REAL ESTATE
BROKERAGE SERVICES ISSUED BY ANOTHER STATE; AND (2)      WHOSE PRINCIPAL PLACE OF BUSINESS FOR THE PROVISION OF
REAL ESTATE BROKERAGE SERVICES IS OUTSIDE THE STATE. (B)     THE RECIPROCAL LICENSE SHALL BE FOR THE TYPE CATEGORY OF
LICENSE THE COMMISSION DETERMINES IS MOST SIMILAR TO THE TYPE CATEGORY
OF LICENSE ISSUED BY THE OTHER STATE. 17-3A-03. OBTAINING A RECIPROCAL LICENSE FROM THE COMMISSION SHALL
CONSTITUTE SUFFICIENT CONTACT WITH THE STATE FOR THE EXERCISE OF
PERSONAL JURISDICTION BY THE COMMISSION AND THE COURTS OF THE STATE
OVER THE HOLDER OF A RECIPROCAL LICENSE IN ANY ACTION OR PROCEEDING
ARISING OUT OF ACTS OR OMISSIONS BY THE HOLDER OF THE RECIPROCAL LICENSE: (1)      IN THE STATE; OR (2)      RELATING TO AN ACTUAL OR PROPOSED TRANSACTION INVOLVING
REAL PROPERTY LOCATED IN THE STATE. 17-3A-04. (A) EXCEPT AS OTHERWISE PROVIDED IN THIS SUBTITLE, THE COMMISSION
SHALL ISSUE A RECIPROCAL LICENSE TO AN APPLICANT LICENSED IN ANOTHER
STATE TO PROVIDE REAL ESTATE BROKERAGE SERVICES IF: (1) THE APPLICANT FILES WITH THE COMMISSION AN APPLICATION FOR
A RECIPROCAL LICENSE; - 3192 -


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Session Laws, 2006
Volume 750, Page 3192   View pdf image
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