House Bill 700 amends Tennessee Code Annotated, Section 62-13-303, specifically addressing the requirements for real estate broker license reissuance. The bill deletes the existing subsection (h) and replaces it with new provisions that require licensees to complete additional educational hours. Within three years of obtaining their original broker's license, licensees must complete 120 classroom hours in real estate from an approved institution. Following this, every two years, they must complete 16 classroom hours in real estate courses to maintain their license, unless they were originally licensed before January 1, 2005, and do not supervise any affiliate brokers, in which case they are exempt from this requirement.

The bill aims to enhance the educational standards for real estate brokers in Tennessee, ensuring that they remain knowledgeable and up-to-date in their field. The new requirements are designed to promote ongoing professional development and improve the overall quality of real estate services provided to the public. The act will take effect upon becoming law, emphasizing the importance of public welfare in its implementation.

Statutes affected:
Introduced: 62-13-303