72nd OREGON LEGISLATIVE ASSEMBLY--2003 Regular Session
 
SA to SB 34
 
LC 459/SB 34-3
 
                      SENATE AMENDMENTS TO
                         SENATE BILL 34
 
               By COMMITTEE ON BUSINESS AND LABOR
 
                           February 10
 
  On page 1 of the printed bill, line 2, after the semicolon
delete the rest of the line and insert 'creating new provisions;
amending ORS 696.010 and 696.030; and declaring an emergency.'.
  In line 15, after 'if' delete the rest of the line.
  In lines 16 and 17, delete the boldfaced material.
  In line 19, delete 'property to be sold, leased or exchanged'
and insert 'real estate'.
  In line 20, delete 'to be sold, leased or exchanged'.
  In lines 22 and 23, delete the boldfaced material.
  After line 23, insert:
  ' (c) A nonlicensed person acting as attorney in fact under a
duly executed power of attorney in which the authorized agent is
the spouse of the principal, or the child, grandchild, parent,
grandparent, sibling, aunt, uncle, niece or nephew of the
principal or of the spouse of the principal, authorizing real
estate activity if the power of attorney is recorded in the
office of the recording officer for the county in which the real
estate to be sold, leased or exchanged is located.'.
  In line 24, delete '(c)' and insert '(d)'.
  In line 26, delete '(d)' and insert '(e)'.
  On page 2, line 1, delete '(e)' and insert '(f)'.
  In line 3, delete '(f)' and insert '(g)'.
  In line 8, delete '(g)' and insert '(h)'.
  In line 10, delete '(h)' and insert '(i)'.
  In line 16, delete '(i)' and insert '(j)'.
  In line 22, delete '(j)' and insert '(k)'.
  In line 24, delete '(k)' and insert '(L)'.
  In line 29, delete '(L)' and insert '(m)'.
  In line 31, delete '(m)' and insert '(n)'.
  In line 37, delete '(n)' and insert '(o)'.
  In line 43, delete '(o)' and insert '(p)'.
  On page 3, line 3, delete '(p)' and insert '(q)'.
  In line 5, delete '(q)' and insert '(r)'.
  In line 9, delete '(r)' and insert '(s)'.
  In line 11, delete '(s)' and insert '(t)'.
  In line 14, delete '(t)' and insert '(u)'.
  In line 17, delete '(u)' and insert '(v)' and delete ' who, for
compensation, refers' and insert 'referring' and after 'tenant'
insert 'for compensation'.
  In line 21, delete '(v)' and insert '(w)' and delete ' who
gives' and insert 'giving'.
  In line 22, delete 'who represents' and insert ' representing'.
  In line 24, delete '(w)' and insert '(x)'.
  Delete lines 26 through 31 and insert:
  ' (y) A nonlicensed person acting as a fiduciary under a court
order, without regard to whether the court order specifically
authorizes real estate activity.'.
  After line 34, insert:
  '  { +  SECTION 2. + } ORS 696.010 is amended to read:
 
  ' 696.010. As used in ORS 696.010 to 696.495, 696.600 to
696.785, 696.800 to 696.855, 696.990 and 696.995, unless the
context requires otherwise:
  ' (1) 'Agency' means the Real Estate Agency.
  ' (2) 'Associated with' means to be employed, engaged or
otherwise supervised by, with respect to the relationship between
a real estate broker and a principal real estate broker.
  ' (3) 'Bank' includes any bank or trust company, savings bank,
mutual savings bank, savings and loan association or credit union
that maintains a head office or a branch in this state in the
capacity of a bank or trust company, savings bank, mutual savings
bank, savings and loan association or credit union.
  ' (4) 'Board' means the Real Estate Board.
  ' (5)(a) 'Branch office' means a business location other than
the main office designated under ORS 696.200 (1), where
professional real estate activity is regularly conducted or which
is advertised to the public as a place where such business may be
regularly conducted.
  ' (b) Model units or temporary structures used solely for the
dissemination of information and distribution of lawfully
required public reports shall not be considered branch offices. A
model unit means a permanent residential structure located in a
subdivision or development used for such distribution and
dissemination, so long as the unit is at all times available for
sale, lease, lease option or exchange.
  ' (6) 'Commissioner' means the Real Estate Commissioner.
  ' (7) 'Compensation' means any fee, commission, salary, money
or valuable consideration for services rendered or to be rendered
as well as the promise thereof and whether contingent or
otherwise.
  ' (8) 'Competitive market analysis' means a method or process
used by a real estate licensee in pursuing a listing agreement or
in formulating an offer to acquire real estate in a transaction
for the sale, lease, lease-option or exchange of real estate. The
objective of competitive market analysis is a recommended
listing, selling or purchase price or a lease or rental
consideration. A competitive market analysis may be expressed as
an opinion of the value of the real estate in a contemplated
transaction.  Competitive market analysis may include but is not
limited to an analysis of market conditions, public records, past
transactions and current listings of real estate.
  ' (9) 'Inactive license' means a license which has been
returned to the commissioner and is being held by the
commissioner on an inactive status.
  ' (10) 'Letter opinion' means a document that expresses a real
estate licensee's conclusion regarding a recommended listing,
selling or purchase price or a rental or lease consideration of
certain real estate and that results from the licensee's
competitive market analysis. The commissioner by rule shall
specify the minimum contents of a letter opinion, including but
not limited to the distinction between a letter opinion and a
real estate appraisal.
  ' (11)(a) 'Management of rental real estate' means representing
the owner of real estate in the rental or lease of the real
estate and includes but is not limited to:
  ' (A) Advertising the real estate for rent or lease;
  ' (B) Procuring prospective tenants to rent or lease the real
estate;
  ' (C) Negotiating with prospective tenants;
  ' (D) Accepting deposits from prospective tenants;
  ' (E) Checking the qualifications and creditworthiness of
prospective tenants;
  ' (F) Charging and collecting rent or lease payments;
  ' (G) Representing the owner in inspection or repair of the
real estate;
  ' (H) Contracting for repair or remodeling of the real estate;
  ' (I) Holding trust funds or property received in managing the
real estate and accounting to the owner for the funds or
property;
  ' (J) Advising the owner regarding renting or leasing the real
estate;
  ' (K) Consulting with prospective buyers regarding purchase of
the real estate;
  ' (L) Providing staff and services to accommodate the tax
reporting and other financial or accounting needs of the real
estate;
  ' (M) Providing copies of records of acts performed on behalf
of the owner of the real estate; and
  ' (N) Offering or attempting to do any of the acts described in
this paragraph for the owner of the real estate.
  ' (b) 'Management of rental real estate' also means
representing a tenant or prospective tenant when renting or
leasing real estate and includes but is not limited to:
  ' (A) Consulting with tenants or prospective tenants about
renting or leasing real estate;
  ' (B) Assisting prospective tenants in renting or leasing real
estate;
  ' (C) Assisting prospective tenants in qualifying for renting
or leasing real estate;
  ' (D) Accepting deposits or other funds from prospective
tenants for renting or leasing real estate and holding the funds
in trust for the prospective tenants;
  ' (E) Representing tenants or prospective tenants renting or
leasing real estate; and
  ' (F) Offering or attempting to do any of the acts described in
this paragraph for a tenant or prospective tenant.
  ' (12) 'Principal real estate broker' means a real estate
broker who is qualified to employ, engage or otherwise supervise
other real estate brokers and who is licensed as a principal real
estate broker.
  ' (13) 'Professional real estate activity' means any of the
following actions, when engaged in for another and for
compensation or with the intention or in the expectation or upon
the promise of receiving or collecting compensation, by any
person who:
  ' (a) Sells, exchanges, purchases, rents or leases real estate.
  ' (b) Offers to sell, exchange, purchase, rent or lease real
estate.
  ' (c) Negotiates, offers, attempts or agrees to negotiate the
sale, exchange, purchase, rental or leasing of real estate.
  ' (d) Lists, offers, attempts or agrees to list real estate for
sale.
  ' (e) Offers, attempts or agrees to perform or provide a
competitive market analysis or letter opinion, to represent a
taxpayer under ORS 305.230 or 309.100 or to give an opinion in
any administrative or judicial proceeding regarding the value of
real estate for taxation. Such activity performed by a state
certified appraiser or state licensed appraiser is not
professional real estate activity.
  ' (f) Auctions, offers, attempts or agrees to auction real
estate.
  ' (g) Buys, sells, offers to buy or sell or otherwise deals in
options on real estate.
  ' (h) Engages in management of rental real estate.
  ' (i) Purports to be engaged in the business of buying,
selling, exchanging, renting or leasing real estate.
  ' (j) Assists or directs in the procuring of prospects,
calculated to result in the sale, exchange, leasing or rental of
real estate.
  ' (k) Assists or directs in the negotiation or closing of any
transaction calculated or intended to result in the sale,
exchange, leasing or rental of real estate.
  ' (L) Except as otherwise provided in ORS 696.030
 { - (1)(k) - }  { + (1)(L) + }, advises, counsels, consults or
analyzes in connection with real estate values, sales or
dispositions, including dispositions through eminent domain
procedures.
  ' (m) Advises, counsels, consults or analyzes in connection
with the acquisition or sale of real estate by an entity if the
purpose of the entity is investment in real estate.
  ' (n) Performs real estate marketing activity as described in
ORS 696.600.
  ' (14) 'Real estate' includes leaseholds and licenses to use
including, but not limited to, timeshare estates and timeshare
licenses as defined in ORS 94.803, as well as any and every
interest or estate in real property, whether corporeal or
incorporeal, whether freehold or nonfreehold, whether held
separately or in common with others and whether the real property
is situated in this state or elsewhere.
  ' (15) 'Real estate broker' means a person who engages in
professional real estate activity and who is licensed as a real
estate broker.
  ' (16) 'Real estate licensee' means a real estate broker,
principal real estate broker or real estate property manager.
  ' (17) 'Real estate property manager' means a real estate
licensee who is authorized to engage in management of rental real
estate.
  ' (18) 'Registered business name' means a name registered with
the Real Estate Agency under which the person registering the
name engages in professional real estate activity.
  '  { +  SECTION 3. + }  { + The amendments to ORS 696.030
(1)(c) and (y) by section 1 of this 2003 Act apply to real estate
activity performed by a person who qualifies under ORS 696.030
(1)(c) and (y) on or after July 1, 2002. + }
  '  { +  SECTION 4. + }  { + This 2003 Act being necessary for
the immediate preservation of the public peace, health and
safety, an emergency is declared to exist, and this 2003 Act
takes effect on its passage. + } ' .
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