452.05 (3) The department board 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.
32,3233e
Section 3233e. 452.06 (1) of the statutes is amended to read:
452.06 (1) The secretary board shall create a council one or more councils on forms under s. 15.04 (1) (c) which shall meet on a regular basis, be chaired by a member of the board, and report to the board and the secretary. Any proposed change in a form relating to real estate practice shall be referred to the appropriate council on forms for review before the form is approved.
32,3234m
Section 3234m. 452.06 (2) (a) of the statutes is amended to read:
452.06 (2) (a) Advise the secretary on the promulgation of rules under s. 452.05 (1) (c) and board on establishing continuing education requirements under s. 452.05 (1) (d).
32,3234r
Section 3234r. 452.06 (2) (b) of the statutes is amended to read:
452.06 (2) (b) Periodically, but not
Not less than annually, review subjects covered on examinations for licensure under this chapter and the qualifications for instructors of and performance evaluations for educational and continuing educational programs, training sessions, and courses approved under this chapter.
32,3234t
Section 3234t. 452.06 (3) of the statutes is amended to read:
452.06 (3) If the secretary creates any councils or committees under s. 15.04 (1) (c) to provide advice to the department or board on matters relating to real estate practice other than the council under sub. (1), such councils or committees shall be chaired by a member of the board, if available, and shall report to the board and the secretary.
32,3235
Section
3235. 452.07 (title) of the statutes is amended to read:
452.07 (title) Rules; review of rules.
32,3236
Section
3236. 452.07 (1) of the statutes is amended to read:
452.07 (1) The department board shall promulgate rules for the guidance of the real estate profession and define professional conduct and unethical practice.
32,3237
Section
3237. 452.07 (1m) of the statutes is amended to read:
452.07 (1m) The department board shall promulgate rules that specify the supervisory duties of brokers under s. 452.12 (3).
32,3238
Section
3238. 452.07 (2) to (7) of the statutes are repealed.
32,3239
Section
3239. 452.09 (1) (intro.) of the statutes is amended to read:
452.09 (1) Form of application. (intro.) Any person desiring to act as a broker or salesperson shall submit to the department board an application for a license. The application shall be in such form as the department
board prescribes and shall include the following:
32,3240
Section
3240. 452.09 (1) (e) of the statutes is amended to read:
452.09 (1) (e) Any other information which that the department board may reasonably require to enable it to determine the competency of each applicant, including each business representative of the business entity, to transact the business of a broker or salesperson in a manner which that safeguards the interests of the public.
32,3241
Section
3241. 452.09 (2) (a) of the statutes is amended to read:
452.09 (2) (a) Except as provided in a reciprocal agreement under s. 452.05 (3), each applicant for a salesperson's license shall submit to the department board evidence satisfactory to the department board of successful completion of educational programs approved for this purpose under s. 452.05 (1) (c). The department
board 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.
32,3242
Section
3242. 452.09 (2) (c) 2. of the statutes is amended to read:
452.09 (2) (c) 2. Submit to the department board evidence satisfactory to the department board of successful completion of educational programs in business management approved for this purpose under s. 452.05 (1) (c). No educational programs applied to satisfy the requirement under subd. 1. may be applied to satisfy the requirement under this subdivision.
32,3243
Section
3243. 452.09 (2) (d) of the statutes is amended to read:
452.09 (2) (d) The department board may waive the requirements under par. (c) upon proof that the applicant has received 20 academic credits in real estate or real estate related law courses from an accredited institution of higher education or that the applicant is licensed to practice law in this state.
32,3244
Section
3244. 452.09 (3) (a) of the statutes is amended to read:
452.09 (3) (a) In determining competency, the department board shall require proof that the applicant for a broker's or salesperson's license has a fair knowledge of the English language,; a fair understanding of the general purposes and general legal effect of deeds, mortgages, land contracts of sale, leases, bills of sale, chattel mortgages, and conditional sales contracts,; and a general and fair understanding of the obligations between principal and agent, as well as of this chapter. An The board shall deny a license to an applicant receiving a failing grade, as established by rules of the department
board, on any examination given under this section shall be denied a license, but any applicant may review his or her examination results in a manner established by rules of the department board.
32,3245
Section
3245. 452.09 (3) (b) of the statutes is amended to read:
452.09 (3) (b) The department board shall determine competency under par. (a) by means of only an oral examination for any applicant who is unable to write because of a physical handicap.
32,3246
Section
3246. 452.09 (3) (d) of the statutes is amended to read:
452.09 (3) (d) Except as provided in a reciprocal agreement under s. 452.05 (3), the department board 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.
32,3247
Section
3247. 452.09 (5) of the statutes is amended to read:
452.09 (5) Apprenticeships. Any person who is a resident of this state and 18 years of age or over may, upon application filed in accordance with sub. (1), be indentured to a licensed resident broker in accordance with rules promulgated by the department board. These rules shall be promulgated so as to protect the public and may limit the real estate sales and brokerage activity of the apprentice. The department board may require an apprentice to take a preliminary examination covering general knowledge and may prescribe the character and extent of his or her work during apprenticeship. The department board may issue a temporary salesperson's permit to the individual for a period not to exceed one year upon payment of the fee under s. 440.05 (6). The temporary permit is not renewable.
32,3248
Section
3248. 452.10 (2) (b) of the statutes is amended to read:
452.10 (2) (b) Unless an application is withdrawn in writing before the department board has made any investigation, no part of the fee shall be returned.
32,3249
Section
3249. 452.10 (4) (a) of the statutes is amended to read:
452.10 (4) (a) Any licensed salesperson or broker may transfer to the employment of a licensed broker by first paying the transfer fee specified in s. 440.05 (7) and filing a transfer form with the department board.
32,3250
Section
3250. 452.10 (6) of the statutes is amended to read:
452.10 (6) In the case of applications for renewals of licenses the department board may dispense with such matters contained in s. 452.09 (1) as it deems unnecessary in view of prior applications.
32,3251
Section
3251. 452.11 (3) of the statutes is amended to read:
452.11 (3) Every nonresident applicant, and every resident licensee who becomes a nonresident, shall file with the department board an irrevocable consent that actions may be commenced against the applicant or licensee in the proper court of any county of the state in which a cause of action arises or in which the plaintiff resides, by the service of any process or pleading authorized by the laws of this state on the department
board or any duly authorized employee. The consent shall stipulate and agree that such service is valid and binding as due service upon the applicant or licensee in all courts in this state. The consent shall be duly acknowledged and, if made by a corporation, shall be authenticated by the corporate seal.
32,3252
Section
3252. 452.11 (4) of the statutes is amended to read:
452.11 (4) Any process or pleading under this section shall be served in duplicate upon the department
board or its duly authorized employee. One copy shall be filed with the department board and the other immediately forwarded by certified mail to the nonresident licensee against whom the process or pleading is directed at the last address provided to the department board by the nonresident licensee. No default in any such proceeding or action may be taken unless it appears by affidavit of the secretary chairperson of the board or any duly authorized employee that a copy of the process or pleading was mailed to the nonresident licensee as required in this subsection. No judgment by default may be taken in any action or proceeding within 20 days after the date of mailing the process or pleading to the nonresident licensee.
32,3253
Section
3253. 452.12 (1) of the statutes is amended to read:
452.12 (1) Expiration. A license granted by the department board entitles the holder to act as a broker or salesperson, as the case may be, until the applicable renewal date specified under s. 440.08 (2) (a).
32,3254
Section
3254. 452.12 (2) (c) of the statutes is amended to read:
452.12 (2) (c) Application for a business entity license shall be made on forms prescribed by the department board, listing the names and addresses of all business representatives, and shall be accompanied by the initial credential fee determined by the department under s. 440.03 (9) (a). If there is a change in any of the business representatives, the change shall be reported to the department board, on the same form, within 30 days after the effective date of the change.
32,3255
Section
3255. 452.12 (4) of the statutes is amended to read:
452.12 (4) Register of brokers and salespersons. The department shall maintain the register required by s. 440.035 (4). The board shall include in the register the board maintains under s. 440.035 (4) the names of all brokers and salespersons whose licenses have been were revoked at any time within the past 2 years prior to the issuance thereof shall be included in the register. The register shall be available for purchase at cost.
32,3255m
Section 3255m. 452.12 (5) (a) of the statutes is amended to read:
452.12 (5) (a) Renewal applications for all licenses shall be submitted with the applicable renewal fee determined by the department under s. 440.03 (9) (a) on or before the applicable renewal date specified under s. 440.08 (2) (a). The department shall pay $10 of each renewal fee received under this paragraph to the Board of Regents of the University of Wisconsin System for research and educational, public outreach, and grant activities under s. 36.25 (34).
32,3256
Section
3256. 452.12 (5) (b) of the statutes is amended to read:
452.12 (5) (b) If an application for renewal is not filed with the department board on or before the renewal date, the applicant may not engage in any of the activities covered by the license until the license is renewed or a new license is issued.
32,3256m
Section 3256m. 452.12 (5) (c) 1. of the statutes is renumbered 452.12 (5) (c) and amended to read:
452.12 (5) (c) At the time of renewal, each broker or salesperson shall submit proof of attendance at and successful completion of continuing education programs or courses approved under s. 452.05 (1) (g), except as provided in subd. 2.
32,3257j
Section 3257j. 452.12 (5) (c) 2. of the statutes is repealed.
32,3259
Section
3259. 452.12 (6) (b) of the statutes is amended to read:
452.12 (6) (b) Unless an applicant's license has been revoked or suspended under s. 452.14 (3), the department board may register the applicant under par. (a) as an inactive licensee upon payment of a $15 fee.
32,3260
Section
3260. 452.12 (6) (d) of the statutes is amended to read:
452.12 (6) (d) If an inactive licensee files an application for reinstatement before January 1, 1996, the department board shall reinstate the inactive licensee's original license in accordance with the requirements for late renewal under s. 440.08 (3).
32,3261
Section
3261. 452.12 (6) (e) (intro.) of the statutes is amended to read:
452.12 (6) (e) (intro.) Except as provided in ss. 440.03 (11m) (b), 440.12 and 440.13 (2) (a) (c), the department board shall reinstate an inactive licensee's original license as follows:
32,3262
Section
3262. 452.12 (6) (e) 1. of the statutes is amended to read:
452.12 (6) (e) 1. If a person has registered as an inactive licensee before November 1, 1990, the department board shall reinstate the person's original license if that person applies to the department board for reinstatement of his or her original license, pays the fee specified under s. 440.05 (1), passes an examination under s. 452.09 (3), and completes the education requirements established by the department board under par. (f).
32,3263
Section
3263. 452.12 (6) (e) 2. of the statutes is amended to read:
452.12 (6) (e) 2. If a person has registered as an inactive licensee on or after November 1, 1990, the department board shall reinstate the person's original license if that person applies to the department board for reinstatement of his or her original license, pays the renewal fee determined by the department under s. 440.03 (9) (a) for the original license and completes 12 hours of the continuing education as requirements established by the department board under par. (f). A person who is eligible for reinstatement of his or her original license under this subdivision shall complete the requirements for reinstatement under this subdivision before January 1, 1996, or within 5 years after the date on which the person registered as an inactive licensee, whichever is later.
32,3264
Section
3264. 452.12 (6) (e) 3. of the statutes is amended to read:
452.12 (6) (e) 3. If a person who is eligible for reinstatement of his or her original license under subd. 2. does not complete the requirements for reinstatement within the time specified under subd. 2., the department
board shall reinstate the original license of that person if he or she meets the requirements specified under subd. 1.
32,3265
Section
3265. 452.12 (6) (f) of the statutes is amended to read:
452.12 (6) (f) The department board shall promulgate rules establishing the education requirements that applicants for reinstatement of original licenses under par. (e) must satisfy.
32,3266
Section
3266. 452.13 (2) (b) 1. of the statutes is amended to read:
452.13 (2) (b) 1. Register with the department of
regulation and licensing safety and professional services the name and address of the depository institution and the number of the interest-bearing common trust account.
32,3267
Section
3267. 452.13 (2) (b) 2. of the statutes is amended to read:
452.13 (2) (b) 2. Notify the department of regulation and licensing safety and professional services when any of the information required under subd. 1. is changed.
32,3268
Section
3268. 452.13 (2) (b) 3. of the statutes is amended to read:
452.13 (2) (b) 3. Furnish the department of regulation and licensing safety and professional services with a letter authorizing the department of regulation and licensing safety and professional services and the department of commerce administration to examine and audit the interest-bearing common trust account whenever the department of regulation and licensing safety and professional services or the department of commerce
administration considers it necessary.
32,3269
Section
3269. 452.13 (2) (bm) of the statutes is amended to read:
452.13 (2) (bm) The department of regulation and licensing safety and professional services shall forward to the department of commerce administration the information and documents furnished under par. (b).
32,3270
Section
3270. 452.13 (2) (d) of the statutes is amended to read:
452.13 (2) (d) The department of commerce administration is the beneficial owner of the interest accruing to the interest-bearing common trust account, minus any service charges or fees.
32,3271
Section
3271. 452.13 (2) (e) 1. of the statutes is amended to read:
452.13 (2) (e) 1. Annually, before February 1, remit to the department of commerce administration the total interest or dividends, minus service charges or fees, earned on the average daily balance in the interest-bearing common trust account during the 12 months ending on the previous December 31. A depository institution is not required to remit any amount if the total interest or dividends for that period is less than $10 before any deduction for service charges or fees.
32,3272
Section
3272. 452.13 (2) (e) 2. of the statutes is amended to read:
452.13 (2) (e) 2. When the interest remittance is sent, furnish to the department of commerce administration and to the broker maintaining the interest-bearing common trust account a statement that includes the name of the broker for whose account the remittance is made, the rate of interest applied, the amount of service charges or fees deducted, if any, and the account balance for the period that the statement covers.
32,3273
Section
3273. 452.13 (2) (f) 2. of the statutes is amended to read:
452.13 (2) (f) 2. May not assess a service charge or fee for an interest-bearing common trust account against the department of commerce administration.
32,3274
Section
3274. 452.13 (2) (f) 3. of the statutes is amended to read:
452.13 (2) (f) 3. May deduct a service charge or fee from the interest earned by an interest-bearing common trust account, and if a balance remains, may deduct the remaining charge or fee from the interest earned on any other interest-bearing common trust account maintained in that depository institution, before remitting interest to the department of commerce administration.
