The bill amends the West Virginia Real Estate License Act, specifically section 30-40-17, to create an exception for non-resident real estate brokers regarding the requirement to maintain a definite place of business within the state. The new language stipulates that non-resident brokers who have a definite place of business in their jurisdiction of residence are not required to maintain an office in West Virginia. This change replaces the previous provision that allowed non-resident brokers to forgo maintaining a business location in the state only if their home state had an active reciprocity agreement with West Virginia that did not impose similar requirements on West Virginia licensees.

In addition to this significant change, the bill retains existing provisions related to the responsibilities of brokers and associate brokers, including the display of branch office licenses, the requirement to notify the commission of address changes, and the custody of licenses for affiliated salespersons. The overall intent of the bill is to streamline the licensing process for non-resident brokers while ensuring that all other operational standards for real estate professionals in West Virginia remain intact.

Statutes affected:
Introduced Version: 30-40-17
Engrossed Version: 30-40-17