House Bill 700 amends Tennessee Code Annotated, specifically Section 62-13-303, regarding the requirements for real estate broker licenses. The bill deletes the existing subsection (h) and replaces it with new provisions that mandate brokers to complete additional educational requirements for license reissuance. Specifically, 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, brokers must complete 16 classroom hours in real estate courses to maintain their license, with an exemption for those originally licensed before January 1, 2005, who do not supervise affiliate brokers.

The bill emphasizes the importance of ongoing education for real estate brokers to ensure they remain knowledgeable about industry standards and practices. The new requirements aim to enhance the professionalism and competency of licensed brokers in Tennessee, thereby benefiting consumers and the real estate market as a whole. The act will take effect upon becoming law, reflecting the public welfare's necessity for these changes.

Statutes affected:
Introduced: 62-13-303