75th OREGON LEGISLATIVE ASSEMBLY--2009 Regular Session
Enrolled
House Bill 2910
Sponsored by Representative SCHAUFLER (at the request of Oregon
Association of Realtors)
CHAPTER ................
AN ACT
Relating to professional real estate activity conducted by a real
estate licensee; creating new provisions; amending ORS 696.010,
696.022, 696.174, 696.205, 696.241, 696.245, 696.280 and
296.290; and repealing ORS 696.028.
Be It Enacted by the People of the State of Oregon:
SECTION 1. 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 696.870, 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)(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 that
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 dissemination and
distribution, so long as the unit is at all times available for
sale, lease, lease option or exchange.
(5) 'Commissioner' means the Real Estate Commissioner.
(6) '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.
(7) '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
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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.
(8) 'Expired' means, in the context of a real estate licensee,
that the license has not been renewed in a timely manner, but may
still be renewed.
(9) 'Inactive' means, in the context of a real estate licensee,
that the license has been returned to the agency to be held until
the licensee reactivates the license or the license expires or
lapses.
(10) 'Lapsed' means, in the context of a real estate licensee,
that the license has not been renewed in a timely manner and is
not eligible for renewal.
(11) 'Letter opinion' has the meaning given that term in ORS
696.294.
(12) 'Management of rental real estate' means:
(a) 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) Providing staff and services to accommodate the tax
reporting and other financial or accounting needs of the real
estate;
(L) Providing copies of records of acts performed on behalf of
the owner of the real estate; and
(M) Offering or attempting to do any of the acts described in
this paragraph for the owner of the real estate; or
(b) 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.
(13) 'Nonlicensed individual' means an individual:
(a) Who has not obtained a real estate license; or
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(b) Whose real estate license is lapsed, expired, inactive,
suspended, surrendered or revoked.
(14) 'Principal real estate broker' means { + :
(a) + } An individual who holds an active license as a
principal real estate broker { - and who employs, engages or
supervises the professional real estate activity of another real
estate licensee. - } { + ; or
(b) A sole practitioner who conducted professional real estate
activity as a sole practitioner prior to January 1, 2010. + }
(15) '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, except when the activity is performed
by a state certified appraiser or state licensed appraiser;
(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)(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; or
(n) Performs real estate marketing activity as described in ORS
696.600.
(16) '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.
(17) 'Real estate broker' means an individual who engages in
professional real estate activity and who holds an active license
as a real estate broker.
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(18) 'Real estate licensee' means an individual who holds an
active license as a real estate broker, principal real estate
broker or real estate property manager.
(19) 'Real estate property manager' means a real estate
licensee who is authorized to engage in management of rental real
estate.
(20) 'Registered business name' means a name registered with
the Real Estate Agency under which the individual registering the
name engages in professional real estate activity.
(21) 'Sole practitioner' means a real estate broker conducting
professional real estate activity not in conjunction with other
real estate brokers or principal real estate brokers { + and
who, prior to January 1, 2010:
(a) Acquired three years of active experience as a real estate
broker; or
(b) Acquired three years of active experience as a real estate
salesperson as defined in ORS 696.025 (1999 Edition) and
successfully completed the real estate broker's examination
required by rule of the agency + }.
SECTION 2. ORS 696.022 is amended to read:
696.022. (1) The Real Estate Agency shall establish by rule a
system for licensing real estate brokers, principal real estate
brokers and real estate property managers. The system shall
establish, at a minimum:
(a) The form and content of applications for licensing under
each category of real estate professional licensed by the agency;
(b) A licensing examination for each category of license;
(c) Schedules and procedures for issuing and renewing licenses;
(d) The term of a license in each category; and
(e) Terms and conditions under which the license of a real
estate licensee must be returned or transferred to the Real
Estate Commissioner for purposes including, but not limited to,
inactivation, suspension or termination of the license.
(2)(a) A real estate broker may engage in professional real
estate activity. { + Except as provided in paragraph (c) of this
subsection, + } a real estate broker may not employ, engage or
supervise the professional real estate activity of another real
estate licensee.
(b) In order to qualify for a real estate broker's license, an
applicant must furnish proof satisfactory to the commissioner
that the applicant has successfully completed the basic real
estate broker's educational courses and the examination required
by rule of the agency. Proof of completion of all required
courses must be provided at the time of applying for the license.
{ - (c) A real estate broker may conduct professional real
estate activity as a sole practitioner after: - }
{ - (A) The individual has acquired three years of active
experience as a real estate broker; or - }
{ - (B) The individual has acquired three years of active
experience as a real estate salesperson as defined in ORS 696.025
(1999 Edition) and has successfully completed the real estate
broker's examination required by rule of the agency. - }
{ + (c) A real estate broker who has acquired three years of
active experience as a real estate broker may temporarily
supervise the professional real estate activity of another real
estate licensee due to unforeseen circumstances or the temporary
absence of a sole principal real estate broker, as provided by
rule of the agency. The temporary supervision of professional
real estate activity allowed under this paragraph may not exceed
90 days. + }
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(3)(a) A principal real estate broker may engage in
professional real estate activity. A principal real estate broker
may conduct professional real estate activity in conjunction with
other real estate brokers or principal real estate brokers. In
addition, a principal real estate broker { - must - }
{ + may + } employ, engage or supervise the professional real
estate activity of another real estate licensee.
(b) In order to qualify for a principal real estate broker's
license, an applicant must meet the requirements of subsection
(2)(b) of this section and must furnish proof satisfactory to the
commissioner that the applicant has successfully completed the
brokerage administration and sales supervision course, as
required by agency rule, and has:
(A) Three years of active experience as a licensed real estate
broker; or
(B) Three years of active experience as a real estate
salesperson as defined in ORS 696.025 (1999 Edition) and has
successfully completed the real estate broker's examination
required by rule of the agency.
(4) In order to qualify for a real estate property manager's
license, an applicant must furnish proof satisfactory to the
commissioner that the applicant has successfully completed
courses in the legal aspects of real estate, real estate property
management and accounting, bookkeeping and trust accounting
practices. The applicant also must have successfully completed a
real estate property manager's license examination prescribed by
rule of the agency. Proof of completion of all required courses
must be provided at the time of applying for the license.
(5)(a) A license for a real estate broker, principal real
estate broker or real estate property manager shall be granted
only to an individual who is trustworthy and competent to conduct
professional real estate activity in a manner that protects the
public interest. As a condition of licensing, the commissioner
may require proof of competence and trustworthiness that the
commissioner deems necessary to protect the public interest.
(b) In implementing this subsection, the commissioner shall
require fingerprints and criminal offender information of an
applicant for initial licensing and may require fingerprints and
criminal offender information of an applicant for license
renewal. Fingerprints acquired under this subsection may be used
for the purpose of requesting a state or nationwide criminal
records check under ORS 181.534.
(6) A license may be issued under this section only to an
individual who is 18 years of age or older.
(7) In order to qualify for a real estate broker's license, a
real estate salesperson licensed in another state or country must
successfully complete a course of study and pass a real estate
broker's license examination, both as prescribed by agency rule.
(8) In order to satisfy the educational requirements under
subsections (2) to (4) and (7) of this section, a course must be
approved by the commissioner. The commissioner shall determine
the final examination score acceptable as evidence of successful
completion for each required course.
(9) The Real Estate Board may determine that an applicant for a
principal real estate broker's license or a real estate broker's
license has experience related to professional real estate
activity that is equivalent to the experience required under
subsection (2) or (3) of this section.
SECTION 3. ORS 696.205 is amended to read:
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696.205. (1) If a real estate licensee { - who is a sole
practitioner or - } who is the sole principal real estate broker
of a real estate business dies or becomes incapacitated, the Real
Estate Commissioner may issue a temporary license to the
executor, administrator or personal representative of the estate
of the deceased real estate licensee or to the court-appointed
fiduciary of the incapacitated real estate licensee, or to some
other individual designated by the commissioner, in order to
continue to transact the real estate business in the case of the
incapacitated real estate licensee or to wind up the affairs of
the deceased or incapacitated real estate licensee. The term of a
temporary license issued under this section may not exceed one
year from the date of issuance unless the commissioner, in the
discretion of the commissioner, extends the term of the temporary
license based on sufficient cause provided by the temporary
licensee to the commissioner.
(2) The Real Estate Agency may adopt administrative rules to
administer this section or to authorize an individual to transact
or wind up real estate business on behalf of the deceased or
incapacitated real estate licensee.
SECTION 4. ORS 696.174 is amended to read:
696.174. (1) To qualify an active license for renewal, the real
estate licensee must present evidence of attendance during the
preceding two license years at 30 clock-hours of real estate
oriented continuing education courses, of which a minimum of 15
clock-hours shall be in required course topics.
(2)(a) The Real Estate Commissioner, with advice from real
estate professionals, educators and the public, may accept a
broad range of topics for real estate oriented continuing
education courses. Required course topics shall be flexible so as
to allow for changes in the real estate profession.
(b) The minimum length of each course, required or elective,
shall be one hour. A standard form, created by the Real Estate
Agency in consultation with real estate professionals, shall be
developed to ensure that licensees have completed the required
number of hours. Certification of attendance by the principal
real estate broker with whom the real estate broker is
associated, or self-certification if the licensee is { - a sole
practitioner, - } a principal real estate broker or a real
estate property manager, shall be considered evidence of
attendance.
(3) The commissioner, with advice from real estate
professionals, educators and the public, shall prescribe rules
for certifying continuing education courses. The rules shall
provide for correspondence courses and other distance learning
alternatives, including but not limited to rules for minimum
course length, comprehension of written materials and tests for
course completion. The rules shall also provide that continuing
education course topics contain an advanced course in real estate
practices that must be completed by a licensee prior to the
licensee's first renewal of an active license.
(4) The commissioner may waive the continuing education
requirements of subsection (1) of this section for any licensee
who submits satisfactory evidence of inability to attend such
courses because of health or other circumstances beyond the
licensee's control.
SECTION 5. ORS 696.241 is amended to read:
696.241. (1) Each { - sole practitioner and each - }
principal real estate broker shall maintain in this state one or
more separate bank accounts that shall be designated a Clients'
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Trust Account in which all trust funds received or handled by the
{ - sole practitioner or - } broker and the real estate
licensees subject to the supervision of the broker on behalf of
any other person shall be deposited unless, pursuant to written
agreement of all parties having an interest in the trust funds,
the trust funds are immediately placed in a neutral escrow
depository in this state.
(2) Each { - sole practitioner or - } principal real estate
broker shall file with the Real Estate Agency, on forms approved
by the Real Estate Commissioner, a statement identifying the name
of the bank or banks, account number or account numbers, and name
of account or accounts for each Clients' Trust Account
maintained.
(3) Each { - sole practitioner or - } principal real estate
broker shall authorize the agency, by a form approved by the
commissioner, to examine any Clients' Trust Account, by a duly
authorized representative of the agency. The examination shall be
made at such times as the commissioner may direct.
(4) If a { - sole practitioner or - } principal real estate
broker maintains a separate Clients' Trust Account in a branch
office, a separate bookkeeping system shall be maintained in the
branch office, provided a copy of the records required by the
provisions of ORS 696.280 are maintained in the main office of
the { - sole practitioner or - } broker.
(5) Trust funds received by a { - sole practitioner or - }
principal real estate broker may be placed by the { - sole
practitioner or - } broker in a federally insured
interest-bearing bank account, designated a Clients' Trust
Account, but only with the prior written approval of all parties
having an interest in the trust funds. The earnings of such
interest-bearing account shall not inure to the benefit of the
{ - sole practitioner or - } principal real estate broker unless
expressly approved in writing before deposit of the trust funds
by all parties having an interest in the trust funds.
(6) With prior written notice to all parties who have an
interest in the trust funds, a { - sole practitioner or - }
principal real estate broker may place trust funds received by
the { - sole practitioner or - } principal real estate broker
in a federally insured interest-bearing bank account that is
designated a Clients' Trust Account and the earnings of which
inure to the benefit of a public benefit corporation, as defined
in ORS 65.001, for distribution to organizations and individuals
for first-time homebuying assistance and for development of
affordable housing. The { - sole practitioner or - }
principal real estate broker shall select a qualified public
benefit corporation to receive the interest earnings.
(7) A { - sole practitioner or - } principal real estate
broker is not entitled to any part of any interest earnings on
trust funds deposited under subsection (5) of this section or to
any part of the earnest money or other money paid to the
{ - sole practitioner or - } broker in connection with any real
estate transaction as part or all of the { - sole
practitioner's or - } broker's compensation until the
transaction has been completed or terminated. The question of the
disposition of forfeited earnest money shall be negotiated
between the { - sole practitioner or - } principal real estate
broker and the seller at the time of executing any listing
agreement or earnest money agreement. The result of
{ - such - } { + these + } negotiation shall be filled in on
the agreement form at the time of signing by the seller and
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either separately initialed by the seller or placed immediately
above the signature of the seller.
(8) Clients' Trust Account funds are not subject to execution
or attachment on any claim against a { - sole practitioner
or - } principal real estate broker.
(9) A { - sole practitioner or - } principal real estate
broker may not knowingly keep or cause to be kept any funds or
money in any bank under the heading of Clients' Trust Account or
any other name designating such funds or money as belonging to
the clients of any
{ - sole practitioner or - } principal real estate broker,
except actual trust funds deposited with the { - sole
practitioner or - } broker.
(10) The agency by rule shall establish an optional procedure
by which { - a sole practitioner or - } a principal real
estate broker may elect to disburse disputed funds held in
relation to the sale, exchange or purchase of real estate from a
Clients' Trust Account to the person who delivered the funds to
the { - sole practitioner or - } principal real estate broker.
The procedure shall allow disbursal not more than 20 days after a
request is made for the disbursal. A disbursal pursuant to the
procedure does not affect the claim of any other person to the
funds.
(11) The agency may provide by rule for other records to be
maintained and for the manner in which trust funds are deposited,
held and disbursed.
SECTION 6. ORS 696.245 is amended to read:
696.245. (1) Each { - sole practitioner and each - }
principal real estate broker, at the time a Clients' Trust
Account is opened under ORS 696.241, shall provide the bank in
which the account is opened with a notice in substantially the
following form:
_________________________________________________________________
NOTICE OF CLIENTS' TRUST ACCOUNT
To: (name of bank) _____
Under the Oregon Real Estate License Law, I am the { - sole
practitioner, - } principal real estate broker or designated
real estate appraiser for (licensed name of broker or business)
________.
Further, under ORS 696.241, I am required to maintain in Oregon
a Clients' Trust Account for the purpose of holding funds
belonging to others.
With regard to the account(s) numbered ______ which is/are
designated as a Clients' Trust Account, the account(s) is/are
maintained with you as a depository for money belonging to
persons other than myself and in my fiduciary capacity as a
{ - sole practitioner or - } principal real estate broker
established by client agreements in separate documents.
Dated: (insert date)
____________
(signature of broker)
ACKNOWLEDGMENT OF RECEIPT
I, ____________, a duly authorized representative of (bank)
____________, do hereby acknowledge receipt of the above NOTICE
OF CLIENTS' TRUST ACCOUNT on (date) ____.
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____________
(signature)
____________
(title)
_________________________________________________________________
(2) The acknowledged copy of the notice described in subsection
(1) of this section shall be retained by the { - sole
practitioner or - } principal real estate broker as provided in
ORS 696.241 for the retention of trust account records, subject
to inspection by the Real Estate Commissioner or the
commissioner's authorized representative.
SECTION 7. ORS 696.280 is amended to read:
696.280. (1) A real estate broker or principal real estate
broker shall maintain within this state, except as provided in
subsection (4) of this section, complete and adequate records of
all professional real estate activity conducted by or through the
broker. The Real Estate Agency shall specify by rule the records
required to establish complete and adequate records of a broker's
professional real estate activity. The only documents the agency
may require by rule a real estate broker or principal real estate
broker to use or generate are documents that are otherwise
required by law or are voluntarily generated during a real estate
transaction.
(2) { - (a) - } The records of a { + real estate broker or
a + } principal real estate broker { - or a sole
practitioner - } shall include records of attendance in
continuing education courses by the { + real estate broker + }
{ - sole practitioner - } or { + principal real estate + }
broker. The records of attendance shall state the name of the
{ + real estate broker + } { - sole practitioner - } or
{ + principal real estate + } broker and the date of { - the
sole practitioner's or broker's - } attendance { - , - } and
shall be the basis for self-certification under ORS 696.174.
{ - (b) A principal real estate broker's records shall
include records of attendance in continuing education courses by
real estate licensees associated with the principal broker. The
record of attendance shall state the name of the licensee and the
date of the licensee's attendance, and shall be the basis for the
certificate of attendance submitted under ORS 696.174. - }
(3) The records shall at all times be open for inspection by
the Real Estate Commissioner or the commissioner's authorized
representatives. The records of each transaction shall be
maintained by the licensee for a period of not less than six
years after the date the transaction closed or failed. The
records may be maintained in any format that allows for
inspection and copying by the commissioner or the commissioner's
representatives, as determined by the commissioner by rule.
(4) The agency may prescribe by rule terms and conditions under
which a real estate broker or principal real estate broker may
maintain records outside this state.
SECTION 8. ORS 696.290 is amended to read:
696.290. (1) A real estate licensee { - shall - }
{ + may + } not offer, promise, allow, give, pay or rebate,
directly or indirectly, any part or share of the licensee's
compensation arising or accruing from any real estate transaction
or pay a finder's fee to any person who is not a real estate
licensee licensed under ORS 696.022. However, a real estate
broker or principal real estate broker may pay a finder's fee or
a share of the licensee's compensation on a cooperative sale when
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the payment is made to a licensed real estate broker in another
state or country, provided that the state or country in which
that broker is licensed has a law permitting real estate brokers
to cooperate with real estate brokers or principal real estate
brokers in this state and that such nonresident real estate
broker does not conduct in this state any acts constituting
professional real estate activity and for which compensation is
paid. If a country does not license real estate brokers, the
payee must be a citizen or resident of the country and represent
that the payee is in the business of real estate brokerage in the
other country. A real estate broker associated with a principal
real estate broker { - shall - } { + may + } not accept
compensation from any person other than the principal real estate
broker with whom the real estate broker is associated at the
time. A principal real estate broker { - shall - }
{ + may + } not make payment to the real estate broker of
another principal real estate broker except through the principal
real estate broker with whom the real estate broker is
associated. Nothing in this section prevents payment of
compensation earned by a real estate broker or principal real
estate broker while licensed, because of change of affiliation or
inactivation of the broker's license.
(2) Nothing in subsection (1) of this section { - is intended
to prohibit - } { + prohibits + } a real estate licensee who
has a written property management agreement with the owner of a
residential building or facility from authorizing the payment of
a referral fee, rent credit or other compensation to an existing
tenant of the owner or licensee, or a former tenant if the former
tenant resided in the building or facility within the previous
six months, as compensation for referring new tenants to the
licensee.
(3) { + (a) + } Nothing in subsection (1) of this section
{ - is intended to prevent - } { + prevents + } an Oregon real
estate broker or principal real estate broker from sharing
compensation on a cooperative nonresidential real estate
transaction with a person who holds an active real estate license
in another state or country, provided:
{ - (a) - } { + (A) + } Before the out-of-state real estate
licensee performs any act in this state that constitutes
professional real estate activity, the licensee and the
cooperating Oregon real estate broker or principal real estate
broker agree in writing that the acts constituting professional
real estate activity conducted in this state will be under the
supervision and control of the cooperating Oregon broker and will
comply with all applicable Oregon laws;
{ - (b) - } { + (B) + } The cooperating Oregon real estate
broker or principal real estate broker accompanies the
out-of-state real estate licensee and the client during any
property showings or negotiations conducted in this state; and
{ - (c) - } { + (C) + } All property showings and
negotiations regarding nonresidential real estate located in this
state are conducted under the supervision and control of the
cooperating Oregon real estate broker or principal real estate
broker.
{ - (4) Nothing in subsection (1) of this section is intended
to prohibit a real estate licensee from directly compensating a
licensed personal assistant if permitted by the terms, conditions
and requirements of a licensed personal assistant agreement under
ORS 696.028. - }
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{ - (5) - } { + (b) + } As used in { + this + } subsection
{ - (3) of this section - } , ' nonresidential real estate'
means { - any - } real property that is improved or available
for improvement by commercial structures or five or more
residential dwelling units.
SECTION 9. { + Notwithstanding ORS 696.270, the Real Estate
Agency may not charge a fee for the initial issuance of a
principal real estate broker's license to a sole practitioner who
conducted professional real estate activity as a sole
practitioner prior to January 1, 2010. + }
SECTION 10. { + ORS 696.028 is repealed. + }
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Passed by House May 8, 2009
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Chief Clerk of House
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Speaker of House
Passed by Senate June 2, 2009
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President of Senate
Enrolled House Bill 2910 (HB 2910-A) Page 11
Received by Governor:
......M.,............., 2009
Approved:
......M.,............., 2009
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Governor
Filed in Office of Secretary of State:
......M.,............., 2009
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Secretary of State
Enrolled House Bill 2910 (HB 2910-A) Page 12