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. Under the new provision, non-resident brokers who have a definite place of business in their jurisdiction of residence will not be required to maintain an office in West Virginia. This change aims to facilitate the operation of non-resident brokers who are licensed in states that have active reciprocity agreements with West Virginia.

Additionally, the bill retains existing requirements for brokers, such as the need to display branch office licenses, notify the commission of address changes, and maintain custody of licenses for associate brokers and salespersons. The overall intent of the bill is to streamline the licensing process for non-resident brokers while ensuring that other regulatory obligations remain in place for all licensed real estate professionals in West Virginia.

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