The bill amends the West Virginia Real Estate License Act, specifically section 30-40-17, to create an exception for nonresident real estate brokers. Under the new provisions, nonresident brokers who maintain a definite place of business in their home jurisdiction will not be required to establish a physical office within West Virginia. This change aims to facilitate the participation of nonresident brokers in the state's real estate market while still ensuring that they adhere to the licensing requirements set forth by the commission.

In addition to this key insertion, the bill retains existing requirements for brokers, such as maintaining a definite place of business, displaying branch office licenses, and managing the licenses of associate brokers and salespersons. The legislation also outlines the responsibilities of associate brokers and salespersons regarding their affiliation with brokers and the process for changing employers. Overall, the bill seeks to modernize the Real Estate License Act by accommodating nonresident brokers while maintaining regulatory standards for all licensed real estate professionals in West Virginia.

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