This bill amends the West Virginia Real Estate License Act by updating the provisions under which the West Virginia Real Estate Commission may refuse, suspend, or revoke a real estate license. The bill introduces a new provision that allows the Commission to take action against a licensee who leads a "Team" without possessing a broker or associate broker license. This addition aims to enhance regulatory oversight and ensure that individuals leading real estate teams are properly licensed, thereby promoting professionalism and accountability within the industry.

Additionally, the bill clarifies the definitions and responsibilities of licensed individuals, emphasizing their duty to report any known violations of the law or Commission rules. It also stipulates that the revocation of a broker's license will automatically suspend the licenses of all associate brokers and salespersons affiliated with that broker, while allowing for the issuance of a replacement license to a new broker without charge if a proper application is submitted during the same license term. Overall, the bill seeks to strengthen the regulatory framework governing real estate practices in West Virginia.

Statutes affected:
Introduced Version: 30-40-19