AB40-ASA1,1287,1815 452.05 (1m) (b) In preparing the form for the offer to purchase commercial real
16property under sub. (1) (b), the department board shall include a statement that the
17seller represents to the buyer that the seller has no notice or knowledge that the
18commercial real property is a historic building.
AB40-ASA1, s. 3231 19Section 3231. 452.05 (2) of the statutes is amended to read:
AB40-ASA1,1287,2120 452.05 (2) The department board may prepare letters and bulletins and
21conduct clinics disseminating information to its licensees.
AB40-ASA1, s. 3232 22Section 3232. 452.05 (3) of the statutes is amended to read:
AB40-ASA1,1288,223 452.05 (3) The department board may, after consultation with the board, enter
24into reciprocal agreements with officials of other states or territories of the United
25States for licensing brokers and salespersons and grant licenses to applicants who

1are licensed as brokers or salespersons in those states or territories according to the
2terms of the reciprocal agreements.
AB40-ASA1, s. 3233e 3Section 3233e. 452.06 (1) of the statutes is amended to read:
AB40-ASA1,1288,84 452.06 (1) The secretary board shall create a council one or more councils on
5forms under s. 15.04 (1) (c) which shall meet on a regular basis, be chaired by a
6member of the board, and report to the board and the secretary. Any proposed change
7in a form relating to real estate practice shall be referred to the appropriate council
8on forms for review before the form is approved.
AB40-ASA1, s. 3234m 9Section 3234m. 452.06 (2) (a) of the statutes is amended to read:
AB40-ASA1,1288,1210 452.06 (2) (a) Advise the secretary on the promulgation of rules under s. 452.05
11(1) (c) and
board on establishing continuing education requirements under s. 452.05
12(1) (d).
AB40-ASA1, s. 3234r 13Section 3234r. 452.06 (2) (b) of the statutes is amended to read:
AB40-ASA1,1288,1714 452.06 (2) (b) Periodically, but not Not less than annually, review subjects
15covered on examinations for licensure under this chapter and the qualifications for
16instructors of and performance evaluations for educational and continuing
17educational programs, training sessions, and courses approved under this chapter.
AB40-ASA1, s. 3234t 18Section 3234t. 452.06 (3) of the statutes is amended to read:
AB40-ASA1,1288,2319 452.06 (3) If the secretary creates any councils or committees under s. 15.04
20(1) (c) to provide advice to the department or board on matters relating to real estate
21practice other than the council under sub. (1), such councils or committees shall be
22chaired by a member of the board, if available, and shall report to the board and the
23secretary.
AB40-ASA1, s. 3235 24Section 3235. 452.07 (title) of the statutes is amended to read:
AB40-ASA1,1288,25 25452.07 (title) Rules; review of rules.
AB40-ASA1, s. 3236
1Section 3236. 452.07 (1) of the statutes is amended to read:
AB40-ASA1,1289,32 452.07 (1) The department board shall promulgate rules for the guidance of the
3real estate profession and define professional conduct and unethical practice.
AB40-ASA1, s. 3237 4Section 3237. 452.07 (1m) of the statutes is amended to read:
AB40-ASA1,1289,65 452.07 (1m) The department board shall promulgate rules that specify the
6supervisory duties of brokers under s. 452.12 (3).
AB40-ASA1, s. 3238 7Section 3238. 452.07 (2) to (7) of the statutes are repealed.
AB40-ASA1, s. 3239 8Section 3239. 452.09 (1) (intro.) of the statutes is amended to read:
AB40-ASA1,1289,129 452.09 (1) Form of application. (intro.) Any person desiring to act as a broker
10or salesperson shall submit to the department board an application for a license. The
11application shall be in such form as the department board prescribes and shall
12include the following:
AB40-ASA1, s. 3240 13Section 3240. 452.09 (1) (e) of the statutes is amended to read:
AB40-ASA1,1289,1814 452.09 (1) (e) Any other information which that the department board may
15reasonably require to enable it to determine the competency of each applicant,
16including each business representative of the business entity, to transact the
17business of a broker or salesperson in a manner which that safeguards the interests
18of the public.
AB40-ASA1, s. 3241 19Section 3241. 452.09 (2) (a) of the statutes is amended to read:
AB40-ASA1,1290,220 452.09 (2) (a) Except as provided in a reciprocal agreement under s. 452.05 (3),
21each applicant for a salesperson's license shall submit to the department board
22evidence satisfactory to the department board of successful completion of
23educational programs approved for this purpose under s. 452.05 (1) (c). The
24department board may waive the requirement under this paragraph upon proof that

1the applicant has received 10 academic credits in real estate or real estate related
2law courses from an accredited institution of higher education.
AB40-ASA1, s. 3242 3Section 3242. 452.09 (2) (c) 2. of the statutes is amended to read:
AB40-ASA1,1290,84 452.09 (2) (c) 2. Submit to the department board evidence satisfactory to the
5department board of successful completion of educational programs in business
6management approved for this purpose under s. 452.05 (1) (c). No educational
7programs applied to satisfy the requirement under subd. 1. may be applied to satisfy
8the requirement under this subdivision.
AB40-ASA1, s. 3243 9Section 3243. 452.09 (2) (d) of the statutes is amended to read:
AB40-ASA1,1290,1310 452.09 (2) (d) The department board may waive the requirements under par.
11(c) upon proof that the applicant has received 20 academic credits in real estate or
12real estate related law courses from an accredited institution of higher education or
13that the applicant is licensed to practice law in this state.
AB40-ASA1, s. 3244 14Section 3244. 452.09 (3) (a) of the statutes is amended to read:
AB40-ASA1,1290,2415 452.09 (3) (a) In determining competency, the department board shall require
16proof that the applicant for a broker's or salesperson's license has a fair knowledge
17of the English language,; a fair understanding of the general purposes and general
18legal effect of deeds, mortgages, land contracts of sale, leases, bills of sale, chattel
19mortgages, and conditional sales contracts,; and a general and fair understanding
20of the obligations between principal and agent, as well as of this chapter. An The
21board shall deny a license to an
applicant receiving a failing grade, as established by
22rules of the department board, on any examination given under this section shall be
23denied a license
, but any applicant may review his or her examination results in a
24manner established by rules of the department board.
AB40-ASA1, s. 3245 25Section 3245. 452.09 (3) (b) of the statutes is amended to read:
AB40-ASA1,1291,3
1452.09 (3) (b) The department board shall determine competency under par.
2(a) by means of only an oral examination for any applicant who is unable to write
3because of a physical handicap.
AB40-ASA1, s. 3246 4Section 3246. 452.09 (3) (d) of the statutes is amended to read:
AB40-ASA1,1291,85 452.09 (3) (d) Except as provided in a reciprocal agreement under s. 452.05 (3),
6the department board may not grant a broker's license to an applicant who does not
7hold a salesperson's license unless the applicant passes the salesperson's
8examination and the broker's examination.
AB40-ASA1, s. 3247 9Section 3247. 452.09 (5) of the statutes is amended to read:
AB40-ASA1,1291,1910 452.09 (5) Apprenticeships. Any person who is a resident of this state and 18
11years of age or over may, upon application filed in accordance with sub. (1), be
12indentured to a licensed resident broker in accordance with rules promulgated by the
13department board. These rules shall be promulgated so as to protect the public and
14may limit the real estate sales and brokerage activity of the apprentice. The
15department board may require an apprentice to take a preliminary examination
16covering general knowledge and may prescribe the character and extent of his or her
17work during apprenticeship. The department board may issue a temporary
18salesperson's permit to the individual for a period not to exceed one year upon
19payment of the fee under s. 440.05 (6). The temporary permit is not renewable.
AB40-ASA1, s. 3248 20Section 3248. 452.10 (2) (b) of the statutes is amended to read:
AB40-ASA1,1291,2221 452.10 (2) (b) Unless an application is withdrawn in writing before the
22department board has made any investigation, no part of the fee shall be returned.
AB40-ASA1, s. 3249 23Section 3249. 452.10 (4) (a) of the statutes is amended to read:
AB40-ASA1,1292,3
1452.10 (4) (a) Any licensed salesperson or broker may transfer to the
2employment of a licensed broker by first paying the transfer fee specified in s. 440.05
3(7) and filing a transfer form with the department board.
AB40-ASA1, s. 3250 4Section 3250. 452.10 (6) of the statutes is amended to read:
AB40-ASA1,1292,75 452.10 (6) In the case of applications for renewals of licenses the department
6board may dispense with such matters contained in s. 452.09 (1) as it deems
7unnecessary in view of prior applications.
AB40-ASA1, s. 3251 8Section 3251. 452.11 (3) of the statutes is amended to read:
AB40-ASA1,1292,189 452.11 (3) Every nonresident applicant, and every resident licensee who
10becomes a nonresident, shall file with the department board an irrevocable consent
11that actions may be commenced against the applicant or licensee in the proper court
12of any county of the state in which a cause of action arises or in which the plaintiff
13resides, by the service of any process or pleading authorized by the laws of this state
14on the department board or any duly authorized employee. The consent shall
15stipulate and agree that such service is valid and binding as due service upon the
16applicant or licensee in all courts in this state. The consent shall be duly
17acknowledged and, if made by a corporation, shall be authenticated by the corporate
18seal.
AB40-ASA1, s. 3252 19Section 3252. 452.11 (4) of the statutes is amended to read:
AB40-ASA1,1293,520 452.11 (4) Any process or pleading under this section shall be served in
21duplicate upon the department board or its duly authorized employee. One copy
22shall be filed with the department board and the other immediately forwarded by
23certified mail to the nonresident licensee against whom the process or pleading is
24directed at the last address provided to the department board by the nonresident
25licensee. No default in any such proceeding or action may be taken unless it appears

1by affidavit of the secretary chairperson of the board or any duly authorized
2employee that a copy of the process or pleading was mailed to the nonresident
3licensee as required in this subsection. No judgment by default may be taken in any
4action or proceeding within 20 days after the date of mailing the process or pleading
5to the nonresident licensee.
AB40-ASA1, s. 3253 6Section 3253. 452.12 (1) of the statutes is amended to read:
AB40-ASA1,1293,97 452.12 (1) Expiration. A license granted by the department board entitles the
8holder to act as a broker or salesperson, as the case may be, until the applicable
9renewal date specified under s. 440.08 (2) (a).
AB40-ASA1, s. 3254 10Section 3254. 452.12 (2) (c) of the statutes is amended to read:
AB40-ASA1,1293,1611 452.12 (2) (c) Application for a business entity license shall be made on forms
12prescribed by the department board, listing the names and addresses of all business
13representatives, and shall be accompanied by the initial credential fee determined
14by the department under s. 440.03 (9) (a). If there is a change in any of the business
15representatives, the change shall be reported to the department board, on the same
16form, within 30 days after the effective date of the change.
AB40-ASA1, s. 3255 17Section 3255. 452.12 (4) of the statutes is amended to read:
AB40-ASA1,1293,2318 452.12 (4) Register of brokers and salespersons. The department shall
19maintain the register required by s. 440.035 (4).
The board shall include in the
20register the board maintains under s. 440.035 (4) the
names of all brokers and
21salespersons whose licenses have been were revoked at any time within the past 2
22years prior to the issuance thereof shall be included in the register. The register shall
23be available for purchase at cost.
AB40-ASA1, s. 3255m 24Section 3255m. 452.12 (5) (a) of the statutes is amended to read:
AB40-ASA1,1294,6
1452.12 (5) (a) Renewal applications for all licenses shall be submitted with the
2applicable renewal fee determined by the department under s. 440.03 (9) (a) on or
3before the applicable renewal date specified under s. 440.08 (2) (a). The department
4shall pay $10 of each renewal fee received under this paragraph to the Board of
5Regents of the University of Wisconsin System for research and educational, public
6outreach, and grant activities under s. 36.25 (34).
AB40-ASA1, s. 3256 7Section 3256. 452.12 (5) (b) of the statutes is amended to read:
AB40-ASA1,1294,108 452.12 (5) (b) If an application for renewal is not filed with the department
9board on or before the renewal date, the applicant may not engage in any of the
10activities covered by the license until the license is renewed or a new license is issued.
AB40-ASA1, s. 3256m 11Section 3256m. 452.12 (5) (c) 1. of the statutes is renumbered 452.12 (5) (c)
12and amended to read:
AB40-ASA1,1294,1513 452.12 (5) (c) At the time of renewal, each broker or salesperson shall submit
14proof of attendance at and successful completion of continuing education programs
15or courses approved under s. 452.05 (1) (g), except as provided in subd. 2.
AB40-ASA1, s. 3257j 16Section 3257j. 452.12 (5) (c) 2. of the statutes is repealed.
AB40-ASA1, s. 3259 17Section 3259. 452.12 (6) (b) of the statutes is amended to read:
AB40-ASA1,1294,2018 452.12 (6) (b) Unless an applicant's license has been revoked or suspended
19under s. 452.14 (3), the department board may register the applicant under par. (a)
20as an inactive licensee upon payment of a $15 fee.
AB40-ASA1, s. 3260 21Section 3260. 452.12 (6) (d) of the statutes is amended to read:
AB40-ASA1,1294,2522 452.12 (6) (d) If an inactive licensee files an application for reinstatement
23before January 1, 1996, the department board shall reinstate the inactive licensee's
24original license in accordance with the requirements for late renewal under s. 440.08
25(3).
AB40-ASA1, s. 3261
1Section 3261. 452.12 (6) (e) (intro.) of the statutes is amended to read:
AB40-ASA1,1295,42 452.12 (6) (e) (intro.) Except as provided in ss. 440.03 (11m) (b), 440.12 and
3440.13 (2) (a) (c), the department board shall reinstate an inactive licensee's original
4license as follows:
AB40-ASA1, s. 3262 5Section 3262. 452.12 (6) (e) 1. of the statutes is amended to read:
AB40-ASA1,1295,116 452.12 (6) (e) 1. If a person has registered as an inactive licensee before
7November 1, 1990, the department board shall reinstate the person's original license
8if that person applies to the department board for reinstatement of his or her original
9license, pays the fee specified under s. 440.05 (1), passes an examination under s.
10452.09 (3), and completes the education requirements established by the department
11board under par. (f).
AB40-ASA1, s. 3263 12Section 3263. 452.12 (6) (e) 2. of the statutes is amended to read:
AB40-ASA1,1295,2213 452.12 (6) (e) 2. If a person has registered as an inactive licensee on or after
14November 1, 1990, the department board shall reinstate the person's original license
15if that person applies to the department board for reinstatement of his or her original
16license, pays the renewal fee determined by the department under s. 440.03 (9) (a)
17for the original license and completes 12 hours of the continuing education as
18requirements established by the department board under par. (f). A person who is
19eligible for reinstatement of his or her original license under this subdivision shall
20complete the requirements for reinstatement under this subdivision before January
211, 1996, or within 5 years after the date on which the person registered as an inactive
22licensee, whichever is later.
AB40-ASA1, s. 3264 23Section 3264. 452.12 (6) (e) 3. of the statutes is amended to read:
AB40-ASA1,1296,324 452.12 (6) (e) 3. If a person who is eligible for reinstatement of his or her
25original license under subd. 2. does not complete the requirements for reinstatement

1within the time specified under subd. 2., the department board shall reinstate the
2original license of that person if he or she meets the requirements specified under
3subd. 1.
AB40-ASA1, s. 3265 4Section 3265. 452.12 (6) (f) of the statutes is amended to read:
AB40-ASA1,1296,75 452.12 (6) (f) The department board shall promulgate rules establishing the
6education requirements that applicants for reinstatement of original licenses under
7par. (e) must satisfy.
AB40-ASA1, s. 3266 8Section 3266. 452.13 (2) (b) 1. of the statutes is amended to read:
AB40-ASA1,1296,119 452.13 (2) (b) 1. Register with the department of regulation and licensing
10safety and professional services the name and address of the depository institution
11and the number of the interest-bearing common trust account.
AB40-ASA1, s. 3267 12Section 3267. 452.13 (2) (b) 2. of the statutes is amended to read:
AB40-ASA1,1296,1513 452.13 (2) (b) 2. Notify the department of regulation and licensing safety and
14professional services
when any of the information required under subd. 1. is
15changed.
AB40-ASA1, s. 3268 16Section 3268. 452.13 (2) (b) 3. of the statutes is amended to read:
AB40-ASA1,1296,2217 452.13 (2) (b) 3. Furnish the department of regulation and licensing safety and
18professional services
with a letter authorizing the department of regulation and
19licensing
safety and professional services and the department of commerce
20administration to examine and audit the interest-bearing common trust account
21whenever the department of regulation and licensing safety and professional
22services
or the department of commerce administration considers it necessary.
AB40-ASA1, s. 3269 23Section 3269. 452.13 (2) (bm) of the statutes is amended to read:
AB40-ASA1,1297,3
1452.13 (2) (bm) The department of regulation and licensing safety and
2professional services
shall forward to the department of commerce administration
3the information and documents furnished under par. (b).
AB40-ASA1, s. 3270 4Section 3270. 452.13 (2) (d) of the statutes is amended to read:
AB40-ASA1,1297,75 452.13 (2) (d) The department of commerce administration is the beneficial
6owner of the interest accruing to the interest-bearing common trust account, minus
7any service charges or fees.
AB40-ASA1, s. 3271 8Section 3271. 452.13 (2) (e) 1. of the statutes is amended to read:
AB40-ASA1,1297,149 452.13 (2) (e) 1. Annually, before February 1, remit to the department of
10commerce administration the total interest or dividends, minus service charges or
11fees, earned on the average daily balance in the interest-bearing common trust
12account during the 12 months ending on the previous December 31. A depository
13institution is not required to remit any amount if the total interest or dividends for
14that period is less than $10 before any deduction for service charges or fees.
AB40-ASA1, s. 3272 15Section 3272. 452.13 (2) (e) 2. of the statutes is amended to read:
AB40-ASA1,1297,2116 452.13 (2) (e) 2. When the interest remittance is sent, furnish to the
17department of commerce administration and to the broker maintaining the
18interest-bearing common trust account a statement that includes the name of the
19broker for whose account the remittance is made, the rate of interest applied, the
20amount of service charges or fees deducted, if any, and the account balance for the
21period that the statement covers.
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