The proposed bill, HB1558, seeks to amend the Arkansas Real Estate Commission laws by introducing two new specialized licenses: the Property Management Broker and the Property Management Associate licenses. Recognizing the distinct skills required for property management compared to traditional real estate brokerage, the bill aims to enhance the quality of property management services in Arkansas. It outlines the responsibilities and definitions associated with these new licenses, emphasizing that the Arkansas Real Estate Commission will oversee the licensing process. The bill also revises existing definitions and provisions to incorporate these new licenses, clarifying the roles of various real estate professionals and reinforcing the requirement that individuals must hold the appropriate licenses to engage in property management activities.

Additionally, the bill mandates the Arkansas Real Estate Commission to create rules for implementing the act and to provide a dedicated section on its website for property management licensee information. It revises education and experience requirements for obtaining real estate licenses, including specific hours of education for property management brokers and associates, and establishes a post-licensure education requirement for new licensees. The bill also introduces provisions for continuing education and outlines penalties for non-compliance with education requirements. Overall, the amendments aim to enhance the regulatory framework governing real estate and property management practices in Arkansas, ensuring that professionals in the field are adequately trained and licensed.

Statutes affected:
Old version HB1558 Original - 2-24-2025 01:09 PM: 17-42-103, 4-29-101, 4-38-1201, 17-42-104(a), 17-42-107(a), 17-42-109(b), 17-42-110(a), 17-42-203(e), 17-42-301(a), 17-42-301(d), 17-42-301(e), 17-42-301, 17-42-303, 17-42-304, 17-42-313, 17-42-306, 17-42-307(b), 17-42-307(c), 17-42-308(a), 17-42-309, 17-42-310(c), 17-42-311(a), 17-42-312(a), 17-42-312(d), 17-42-313(a), 17-42-314(b), 17-42-501, 17-42-502(3), 17-42-502(12), 17-42-502(15), 17-42-502(17), 17-42-503(b), 17-42-504(c), 17-42-506, 17-42-513(a), 17-42-514(a)
Old version HB1558 V2 - 3-5-2025 02:46 PM: 17-42-103, 03-05-2025, 4-29-101, 4-38-1201, 17-42-104(a), 17-42-107(a), 17-42-109(b), 17-42-110(a), 17-42-203(e), 17-42-301(a), 17-42-301(d), 17-42-301(e), 17-42-301, 17-42-303, 17-42-304, 17-42-313, 17-42-306, 17-42-307(b), 17-42-307(c), 17-42-308(a), 17-42-309, 17-42-310(c), 17-42-311(a), 17-42-312(a), 17-42-312(d), 17-42-313(a), 17-42-314(b), 17-42-501, 17-42-502(3), 17-42-502(12), 17-42-502(15), 17-42-502(17), 17-42-503(b), 17-42-504(c), 17-42-506, 17-42-513(a), 17-42-514(a)
HB 1558: 17-42-103, 4-29-101, 4-38-1201, 17-42-104(a), 17-42-107(a), 17-42-109(b), 17-42-110(a), 17-42-203(e), 17-42-301(a), 17-42-301(d), 17-42-301(e), 17-42-301, 17-42-303, 17-42-304, 17-42-313, 17-42-306, 17-42-307(b), 17-42-307(c), 17-42-308(a), 17-42-309, 17-42-310(c), 17-42-311(a), 17-42-312(a), 17-42-312(d), 17-42-313(a), 17-42-314(b), 17-42-501, 17-42-502(3), 17-42-502(12), 17-42-502(15), 17-42-502(17), 17-42-503(b), 17-42-504(c), 17-42-506, 17-42-513(a), 17-42-514(a)
Act 392: 17-42-103, 03-05-2025, 4-29-101, 4-38-1201, 17-42-104(a), 17-42-107(a), 17-42-109(b), 17-42-110(a), 17-42-203(e), 17-42-301(a), 17-42-301(d), 17-42-301(e), 17-42-301, 17-42-303, 17-42-304, 17-42-313, 17-42-306, 17-42-307(b), 17-42-307(c), 17-42-308(a), 17-42-309, 17-42-310(c), 17-42-311(a), 17-42-312(a), 17-42-312(d), 17-42-313(a), 17-42-314(b), 17-42-501, 17-42-502(3), 17-42-502(12), 17-42-502(15), 17-42-502(17), 17-42-503(b), 17-42-504(c), 17-42-506, 17-42-513(a), 17-42-514(a)