SB375,8,2
173.0301
(1) (a) "Credential" has the meaning given in s. 440.01 (2) (a)
, but does
2not include a registration as an inactive licensee under s. 452.12 (6) (b).
SB375,2
3Section
2. 108.227 (1) (b) of the statutes is amended to read:
SB375,8,54
108.227
(1) (b) "Credential" has the meaning given in s. 440.01 (2) (a)
, but does
5not include a registration as an inactive licensee under s. 452.12 (6) (b).
SB375,3
6Section
3. 186.113 (19) of the statutes is amended to read:
SB375,8,127
186.113
(19) Client fund accounts. Maintain real estate broker trust accounts
8under s. 452.13 for
brokers who firms, as defined in s. 452.01 (4w), that are eligible
9for membership in the credit union, attorney trust accounts under s. 757.293 for
10attorneys who are eligible for membership in the credit union
, and collection agency
11trust accounts under s. 218.04 (9g) for persons who are eligible for membership in
12the credit union.
SB375,4
13Section
4. 440.03 (11m) (a) (intro.) and 1. of the statutes are consolidated,
14renumbered 440.03 (11m) (a) and amended to read:
SB375,8,2215
440.03
(11m) (a) Each application form for a credential issued or renewed
16under chs. 440 to 480 shall provide a space for the department to require
each of the
17following an applicant for the initial credential or credential renewal, other than an
18individual who does not have a social security number and who submits a statement
19made or subscribed under oath or affirmation as required under par. (am), to provide
20his or her social security number
: 1. An applicant for an initial credential or
21credential renewal. If the applicant is not an individual, the department shall
22require the applicant to provide its federal employer identification number.
SB375,5
23Section
5. 440.03 (11m) (a) 2. of the statutes is repealed.
SB375,6
24Section
6. 440.03 (11m) (am) of the statutes is amended to read:
SB375,9,6
1440.03
(11m) (am) If an applicant specified in par. (a)
1. or 2. is an individual
2who does not have a social security number, the applicant shall submit a statement
3made or subscribed under oath that the applicant does not have a social security
4number. The form of the statement shall be prescribed by the department of children
5and families. A credential or license issued in reliance upon a false statement
6submitted under this paragraph is invalid.
SB375,7
7Section
7. 440.03 (11m) (b) of the statutes is amended to read:
SB375,9,138
440.03
(11m) (b) The real estate examining board shall deny an application for
9an initial credential or deny an application for credential renewal
or for
10reinstatement of an inactive license under s. 452.12 (6) (e) if any information
11required under par. (a) is not included in the application form or, in the case of an
12applicant who is an individual and who does not have a social security number, if the
13statement required under par. (am) is not included with the application form.
SB375,8
14Section
8. 440.03 (11m) (c) of the statutes is amended to read:
SB375,9,2215
440.03
(11m) (c) The department of safety and professional services may not
16disclose a social security number obtained under par. (a) to any person except the
17coordinated licensure information system under s. 441.50 (7); the department of
18children and families for purposes of administering s. 49.22; and, for a social security
19number obtained under par. (a)
1., the department of revenue for the purpose of
20requesting certifications under s. 73.0301 and administering state taxes and the
21department of workforce development for the purpose of requesting certifications
22under s. 108.227.
SB375,9
23Section
9. 440.03 (13) (b) 72. of the statutes is repealed.
SB375,10
24Section
10. 440.08 (2) (a) 69. of the statutes is repealed.
SB375,11
25Section
11. 440.13 (2) (c) of the statutes is amended to read:
SB375,10,4
1440.13
(2) (c) With respect to a credential granted by a credentialing board, a
2credentialing board shall restrict, limit
, or suspend a credential held by a person or
3deny an application for an initial credential
or for reinstatement of an inactive
4license under s. 452.12 (6) (e) when directed to do so by the department.
SB375,12
5Section
12. 452.01 (1m) of the statutes is amended to read:
SB375,10,86
452.01
(1m) "Agency agreement" means a written agreement between a
broker 7firm and a client in which the client authorizes the
broker firm to provide brokerage
8services to the client.
SB375,13
9Section
13. 452.01 (1o) of the statutes is created to read:
SB375,10,1310
452.01
(1o) "Associated with a firm" means to have been engaged by a firm to
11provide brokerage services to the firm's clients and customers on behalf of the firm
12and under the firm's supervision, including as an employee of the firm or as an
13independent contractor.
SB375,14
14Section
14. 452.01 (1p) of the statutes is created to read:
SB375,10,1615
452.01
(1p) "Associated with a subagent" means to be associated with a firm
16that is engaged as a subagent.
SB375,15
17Section
15. 452.01 (3) (d) of the statutes is amended to read:
SB375,10,1918
452.01
(3) (d) Employees of persons enumerated in pars. (a) to (c)
and, (f)
, and
19(i) when engaged in the specific performance of their duties as such employees.
SB375,16
20Section
16. 452.01 (3) (i) of the statutes is created to read:
SB375,10,2221
452.01
(3) (i) A developer, as defined in s. 707.02 (11), negotiating a transaction
22involving a time share.
SB375,17
23Section
17. 452.01 (3e) of the statutes is amended to read:
SB375,11,3
1452.01
(3e) "Brokerage service" means any service described under sub. (2)
2provided
to a person by a
broker to another person firm and any licensees associated
3with the firm.
SB375,18
4Section
18. 452.01 (3m) of the statutes is amended to read:
SB375,11,65
452.01
(3m) "Client" means a party to a transaction who has an agency
6agreement with a
broker firm for brokerage services.
SB375,19
7Section
19. 452.01 (3s) of the statutes is amended to read:
SB375,11,108
452.01
(3s) "Customer" means a party to a transaction who is provided
9brokerage services by a
broker firm and any licensees associated with the firm but
10who is not a client.
SB375,20
11Section
20. 452.01 (3w) of the statutes is amended to read:
SB375,11,1612
452.01
(3w) "Designated agency" means a multiple representation
13relationship in which each client of the
broker firm in the multiple representation
14relationship receives negotiation services from the
broker firm only from
employees
15of licensees associated with the
broker firm who are not providing negotiation
16services to any other client of the
broker firm in the transaction.
SB375,21
17Section
21. 452.01 (4) of the statutes is amended to read:
SB375,11,2118
452.01
(4) "Disciplinary proceeding" means a proceeding against one or more
19licensees
or registrants in which the board may revoke, suspend, or limit a license
20or registration, reprimand a licensee
or registrant, or assess a forfeiture or require
21education or training under s. 452.14 (4m) or (4r).
SB375,22
22Section
22. 452.01 (4d) of the statutes is repealed.
SB375,23
23Section
23. 452.01 (4h) of the statutes is repealed.
SB375,24
24Section
24. 452.01 (4p) of the statutes is repealed.
SB375,25
25Section
25. 452.01 (4t) of the statutes is repealed.
SB375,26
1Section
26. 452.01 (4w) of the statutes is created to read:
SB375,12,32
452.01
(4w) "Firm" means a licensed individual broker acting as a sole
3proprietorship or a licensed broker business entity.
SB375,27
4Section
27. 452.01 (4x) of the statutes is created to read:
SB375,12,65
452.01
(4x) "Licensed broker business entity" means a broker licensed under
6s. 452.12 that is a business entity.
SB375,28
7Section
28. 452.01 (4y) of the statutes is created to read:
SB375,12,98
452.01
(4y) "Licensed individual broker" means a broker licensed under s.
9452.12 who is an individual.
SB375,29
10Section
29. 452.01 (5) of the statutes is amended to read:
SB375,12,1211
452.01
(5) "Licensee" means any person licensed or registered under this
12chapter
, other than an inactive licensee registered under s. 452.12 (6).
SB375,30
13Section
30
. 452.01 (5) of the statutes, as affected by 2015 Wisconsin Act ....
14(this act), is amended to read:
SB375,12,1615
452.01
(5) "Licensee" means any person licensed
or registered under this
16chapter.
SB375,31
17Section
31
. 452.01 (5c) of the statutes is created to read:
SB375,12,1918
452.01
(5c) "License number" means a number assigned to a person under s.
19452.05 (1) (j).
SB375,32
20Section
32. 452.01 (5j) of the statutes is amended to read:
SB375,12,2321
452.01
(5j) "Multiple representation relationship" means a relationship
22between a
broker firm and 2 or more of the
broker's firm's clients in which the clients
23are parties in the same transaction.
SB375,33
24Section
33. 452.01 (5m) (b) of the statutes is amended to read:
SB375,13,3
1452.01
(5m) (b) Completing, when requested by a party, appropriate
2department-approved board-approved forms or other writings to document the
3party's proposal consistent with the party's intent.
SB375,34
4Section
34
. 452.01 (5p) of the statutes is amended to read:
SB375,13,85
452.01
(5p) "Out-of-state salesperson" means a person who is not licensed
6under this chapter and who is employed
or engaged as an independent contractor by
7an out-of-state broker. "Out-of-state salesperson" includes a time-share
8salesperson employed by an out-of-state broker.
SB375,35
9Section
35
. 452.01 (5p) of the statutes, as affected by 2015 Wisconsin Act ....
10(this act), is amended to read:
SB375,13,1411
452.01
(5p) "Out-of-state salesperson" means a person who is not licensed
12under this chapter and who is employed or engaged as an independent contractor by
13an out-of-state broker.
"Out-of-state salesperson" includes a time-share
14salesperson employed by an out-of-state broker.
SB375,36
15Section
36. 452.01 (5w) of the statutes is amended to read:
SB375,13,1716
452.01
(5w) "Principal
broker
firm" means a
broker who firm that engages a
17subagent to provide brokerage services in a transaction.
SB375,37
18Section
37
. 452.01 (7) of the statutes is repealed and recreated to read:
SB375,13,2119
452.01
(7) "Salesperson" means any individual who is associated with a firm,
20other than a broker, a time-share salesperson, or an individual who is not required
21to hold a license under this chapter as provided under s. 452.03 (2).
SB375,38
22Section
38
. 452.01 (7) of the statutes, as affected by 2015 Wisconsin Act ....
23(this act), is amended to read:
SB375,14,3
1452.01
(7) "Salesperson" means any individual who is associated with a firm,
2other than a broker
, a time-share salesperson, or an individual who is not required
3to hold a license under this chapter as provided under s. 452.03 (2).
SB375,39
4Section
39. 452.01 (7r) of the statutes is amended to read:
SB375,14,75
452.01
(7r) "Subagent" means a
broker who firm that is engaged by
another
6broker a principal firm to provide brokerage services in a transaction, but
who that 7is not
the other broker's employee associated with the principal firm.
SB375,40
8Section
40. 452.01 (9) of the statutes is amended to read:
SB375,14,139
452.01
(9) "Time-share salesperson" means a person, other than a person
10licensed under s. 452.09, who is
employed by a licensed broker to sell or offer or
11attempt associated with a firm for the purpose of selling or offering or attempting to
12negotiate an initial sale or purchase of a time share but who may not perform any
13other acts authorized by this chapter to be performed by a broker or salesperson.
SB375,41
14Section
41. 452.01 (9) of the statutes, as affected by 2015 Wisconsin Act ....
15(this act), is repealed.
SB375,42
16Section
42
. 452.025 of the statutes, as affected by 2015 Wisconsin Act .... (this
17act), is repealed.
SB375,43
18Section
43. 452.025 (1) (b) 3. of the statutes is amended to read:
SB375,14,2119
452.025
(1) (b) 3. Certification from the
licensed broker employing firm with
20which the applicant
is associated that the applicant is competent to act as a
21time-share salesperson.
SB375,44
22Section
44. 452.025 (3) (a) of the statutes is amended to read:
SB375,14,2523
452.025
(3) (a) A time-share salesperson registered under this section may act
24as a time-share salesperson only when
employed by a licensed broker associated
25with a firm.
SB375,45
1Section
45. 452.025 (3) (b) 2. g. of the statutes is amended to read:
SB375,15,32
452.025
(3) (b) 2. g. The signature of the time-share salesperson and the name
3of the
employing broker firm with which the time-share salesperson is associated.
SB375,46
4Section
46. 452.025 (4) of the statutes is repealed.
SB375,47
5Section
47. 452.03 of the statutes is renumbered 452.03 (1) and amended to
6read:
SB375,15,137
452.03
(1) No Except as provided in s. 452.137, no person may engage in or
8follow the business or occupation of, or advertise or hold himself or herself out as, or
9act temporarily or otherwise as a broker or salesperson without a license
issued
10under this chapter. The board may grant a license only to a person who is competent
11to transact
such businesses that business or occupation in a manner that safeguards
12the interests of the public, and only after satisfactory proof of the person's
13competence has been presented to the board.
SB375,48
14Section
48. 452.03 (2) of the statutes is created to read:
SB375,15,1815
452.03
(2) No license under this chapter is required for an individual who, on
16behalf of and under the direction of a firm or one or more licensees associated with
17a firm, provides the firm or licensee with services that are limited to those that are
18purely administrative, clerical, or personal in nature.
SB375,49
19Section
49. 452.05 (1) (a) of the statutes is amended to read:
SB375,15,2220
452.05
(1) (a) Grant and issue licenses to
individuals and business entities to
21act as brokers and
to individuals to act salespersons and
grant and issue 22registrations to time-share salespersons.
SB375,50
23Section
50
. 452.05 (1) (a) of the statutes, as affected by 2015 Wisconsin Act ....
24(this act), is amended to read:
SB375,16,3
1452.05
(1) (a) Grant and issue licenses to individuals and business entities to
2act as brokers and to individuals to act salespersons
and grant and issue
3registrations to time-share salespersons.