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VETOES
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S.B. 523
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(6) WRITTEN CONSENT SIGNED BY THE NONRESIDENT REAL ESTATE
BROKER, INDIVIDUALLY AND ON BEHALF OF THE BUSINESS ENTITY, AND BY EACH
NONRESIDENT REAL ESTATE SALESPERSON LISTED UNDER PARAGRAPH (3) OF THIS
SUBSECTION, THAT SERVICE OF PROCESS ON THE SECRETARY OF STATE EXECUTIVE
DIRECTOR OF THE COMMISSION SHALL BIND THE APPLICANT IN ANY ACTION, SUIT,
OR PROCEEDING BROUGHT AGAINST THE BROKER OR SALESPERSON;
(7) WRITTEN CONSENT SIGNED BY THE NONRESIDENT REAL ESTATE
BROKER AND BY EACH NONRESIDENT SALESPERSON LISTED UNDER PARAGRAPH (3)
OF THIS SUBSECTION, TO SUBMIT TO THE JURISDICTION OF THE COMMISSION FOR
THE PURPOSES OF DISCIPLINARY ACTION UNDER § 17-322 OF THIS TITLE; AND
(8) ANY OTHER INFORMATION THAT IS REQUESTED BY THE
COMMISSION; AND
(9) A TEMPORARY LICENSE FEE OF $45.
(C) THE COMMISSION SHALL ISSUE A TEMPORARY LICENSE TO A
NONRESIDENT REAL ESTATE BROKER WHO COMPLIES WITH THE REQUIREMENTS OF
THIS SECTION IF THE JURISDICTION IN WHICH THE REAL ESTATE BROKER HOLDS A
CURRENT LICENSE ALLOWS A MARYLAND BROKER TO OBTAIN A TEMPORARY
LICENSE UNDER SIMILAR CIRCUMSTANCES.
17-538.
(A) UPON APPROVAL BY THE COMMISSION, A NONRESIDENT REAL ESTATE
BROKER MAY PROVIDE REAL ESTATE BROKE RACE SERVICES ENGAGE IN A
TRANSACTION IN THIS STATE WITH RESPECT TO COMMERCIAL REAL ESTATE.
(B) A NONRESIDENT REAL ESTATE SALESPERSON LICENSED IN ANOTHER
JURISDICTION AND AFFILIATED WITH A NONRESIDENT REAL ESTATE BROKER MAY
PROVIDE REAL ESTATE BROKERAGE SERVICES ENGAGE IN A TRANSACTION IN THIS
STATE WITH RESPECT TO COMMERCIAL REAL ESTATE IF:
(1) THE NONRESIDENT REAL ESTATE SALESPERSON IS LICENSED WITH
AND PROVIDES REAL ESTATE BROKERAGE SERVICES UNDER THE DIRECT
SUPERVISION OF THE NONRESIDENT REAL ESTATE BROKER;
(2) THE NONRESIDENT REAL ESTATE BROKER SATISFIES THE
REQUIREMENTS OF § 17-537 OF THIS SUBTITLE; AND
(3) THE NONRESIDENT REAL ESTATE SALESPERSON PROVIDES REAL
ESTATE BROKERAGE SERVICES IN THE NAME OF THE NONRESIDENT REAL ESTATE
BROKER
17-539.
ALL TRUST MONEY PAID ON ACCOUNT OF A TRANSACTION INVOLVING
COMMERCIAL REAL ESTATE IN THIS STATE SHALL BE RECEIVED AND DEPOSITED IN
THE TRUST ACCOUNT OF THE MARYLAND BROKER IN ACCORDANCE WITH PART I OF
THIS SUBTITLE.
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- 4672 -
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