2003 WISCONSIN ACT 168
An Act to amend 452.09 (2) (a), 452.09 (2) (c) (intro.) and 452.09 (3) (d); and to create 452.05 (3) of the statutes; relating to: reciprocal agreements for real estate licenses.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
168, s. s. 1
452.05 (3) of the statutes is created to read:
452.05 (3) The department may, after consultation with the board, enter into reciprocal agreements with officials of other states or territories of the United States for licensing brokers and salespersons and grant licenses to applicants who are licensed as brokers or salespersons in those states or territories according to the terms of the reciprocal agreements.
168, s. s. 2
452.09 (2) (a) of the statutes is amended to read:
452.09 (2) (a) Each Except as provided in a reciprocal agreement under s. 452.05 (3), each applicant for a salesperson's license shall submit to the department evidence satisfactory to the department of successful completion of educational programs approved for this purpose under s. 452.05 (1) (c). The department may waive the requirement under this paragraph upon proof that the applicant has received 10 academic credits in real estate or real estate related law courses from an accredited institution of higher education.
168, s. s. 3
452.09 (2) (c) (intro.) of the statutes is amended to read:
452.09 (2) (c) (intro.) Except as provided in par. (d) or a reciprocal agreement under s. 452.05 (3), each applicant for a broker's license shall do all of the following:
168, s. s. 4
452.09 (3) (d) of the statutes is amended to read:
452.09 (3) (d) The Except as provided in a reciprocal agreement under s. 452.05 (3), the department may not grant a broker's license to an applicant who does not hold a salesperson's license unless the applicant passes the salesperson's examination and the broker's examination.