SB375: Bill Text

SB375,13 Section 13. 452.01 (1o) of the statutes is created to read:

SB375,10,13 452.01 (1o) "Associated with a firm" means to have been engaged by a firm to provide brokerage services to the firm's clients and customers on behalf of the firm and under the firm's supervision, including as an employee of the firm or as an independent contractor.

SB375,14 Section 14. 452.01 (1p) of the statutes is created to read:

SB375,10,16 452.01 (1p) "Associated with a subagent" means to be associated with a firm that is engaged as a subagent.

SB375,15 Section 15. 452.01 (3) (d) of the statutes is amended to read:

SB375,10,19 452.01 (3) (d) Employees of persons enumerated in pars. (a) to (c) and, (f), and (i) when engaged in the specific performance of their duties as such employees.

SB375,16 Section 16. 452.01 (3) (i) of the statutes is created to read:

SB375,10,22 452.01 (3) (i) A developer, as defined in s. 707.02 (11), negotiating a transaction involving a time share.

SB375,17 Section 17. 452.01 (3e) of the statutes is amended to read:

SB375,11,3 452.01 (3e) "Brokerage service" means any service described under sub. (2) provided to a person by a broker to another person firm and any licensees associated with the firm.

SB375,18 Section 18. 452.01 (3m) of the statutes is amended to read:

SB375,11,6 452.01 (3m) "Client" means a party to a transaction who has an agency agreement with a broker firm for brokerage services.

SB375,19 Section 19. 452.01 (3s) of the statutes is amended to read:

SB375,11,10 452.01 (3s) "Customer" means a party to a transaction who is provided brokerage services by a broker firm and any licensees associated with the firm but who is not a client.

SB375,20 Section 20. 452.01 (3w) of the statutes is amended to read:

SB375,11,16 452.01 (3w) "Designated agency" means a multiple representation relationship in which each client of the broker firm in the multiple representation relationship receives negotiation services from the broker firm only from employees of licensees associated with the broker firm who are not providing negotiation services to any other client of the broker firm in the transaction.

SB375,21 Section 21. 452.01 (4) of the statutes is amended to read:

SB375,11,21 452.01 (4) "Disciplinary proceeding" means a proceeding against one or more licensees or registrants in which the board may revoke, suspend, or limit a license or registration, reprimand a licensee or registrant, or assess a forfeiture or require education or training under s. 452.14 (4m) or (4r).

SB375,22 Section 22. 452.01 (4d) of the statutes is repealed.

SB375,23 Section 23. 452.01 (4h) of the statutes is repealed.

SB375,24 Section 24. 452.01 (4p) of the statutes is repealed.

SB375,25 Section 25. 452.01 (4t) of the statutes is repealed.

SB375,26 Section 26. 452.01 (4w) of the statutes is created to read:

SB375,12,3 452.01 (4w) "Firm" means a licensed individual broker acting as a sole proprietorship or a licensed broker business entity.

SB375,27 Section 27. 452.01 (4x) of the statutes is created to read:

SB375,12,6 452.01 (4x) "Licensed broker business entity" means a broker licensed under s. 452.12 that is a business entity.

SB375,28 Section 28. 452.01 (4y) of the statutes is created to read:

SB375,12,9 452.01 (4y) "Licensed individual broker" means a broker licensed under s. 452.12 who is an individual.

SB375,29 Section 29. 452.01 (5) of the statutes is amended to read:

SB375,12,12 452.01 (5) "Licensee" means any person licensed or registered under this chapter, other than an inactive licensee registered under s. 452.12 (6).

SB375,30 Section 30 . 452.01 (5) of the statutes, as affected by 2015 Wisconsin Act .... (this act), is amended to read:

SB375,12,16 452.01 (5) "Licensee" means any person licensed or registered under this chapter.

SB375,31 Section 31 . 452.01 (5c) of the statutes is created to read:

SB375,12,19 452.01 (5c) "License number" means a number assigned to a person under s. 452.05 (1) (j).

SB375,32 Section 32. 452.01 (5j) of the statutes is amended to read:

SB375,12,23 452.01 (5j) "Multiple representation relationship" means a relationship between a broker firm and 2 or more of the broker's firm's clients in which the clients are parties in the same transaction.

SB375,33 Section 33. 452.01 (5m) (b) of the statutes is amended to read:

SB375,13,3 452.01 (5m) (b) Completing, when requested by a party, appropriate department-approved board-approved forms or other writings to document the party's proposal consistent with the party's intent.

SB375,34 Section 34 . 452.01 (5p) of the statutes is amended to read:

SB375,13,8 452.01 (5p) "Out-of-state salesperson" means a person who is not licensed under this chapter and who is employed or engaged as an independent contractor by an out-of-state broker. "Out-of-state salesperson" includes a time-share salesperson employed by an out-of-state broker.

SB375,35 Section 35 . 452.01 (5p) of the statutes, as affected by 2015 Wisconsin Act .... (this act), is amended to read:

SB375,13,14 452.01 (5p) "Out-of-state salesperson" means a person who is not licensed under this chapter and who is employed or engaged as an independent contractor by an out-of-state broker. "Out-of-state salesperson" includes a time-share salesperson employed by an out-of-state broker.

SB375,36 Section 36. 452.01 (5w) of the statutes is amended to read:

SB375,13,17 452.01 (5w) "Principal broker firm" means a broker who firm that engages a subagent to provide brokerage services in a transaction.

SB375,37 Section 37 . 452.01 (7) of the statutes is repealed and recreated to read:

SB375,13,21 452.01 (7) "Salesperson" means any individual who is associated with a firm, other than a broker, a time-share salesperson, or an individual who is not required to hold a license under this chapter as provided under s. 452.03 (2).

SB375,38 Section 38 . 452.01 (7) of the statutes, as affected by 2015 Wisconsin Act .... (this act), is amended to read:

SB375,14,3 452.01 (7) "Salesperson" means any individual who is associated with a firm, other than a broker, a time-share salesperson, or an individual who is not required to hold a license under this chapter as provided under s. 452.03 (2).

SB375,39 Section 39. 452.01 (7r) of the statutes is amended to read:

SB375,14,7 452.01 (7r) "Subagent" means a broker who firm that is engaged by another broker a principal firm to provide brokerage services in a transaction, but who that is not the other broker's employee associated with the principal firm.

SB375,40 Section 40. 452.01 (9) of the statutes is amended to read:

SB375,14,13 452.01 (9) "Time-share salesperson" means a person, other than a person licensed under s. 452.09, who is employed by a licensed broker to sell or offer or attempt associated with a firm for the purpose of selling or offering or attempting to negotiate an initial sale or purchase of a time share but who may not perform any other acts authorized by this chapter to be performed by a broker or salesperson.

SB375,41 Section 41. 452.01 (9) of the statutes, as affected by 2015 Wisconsin Act .... (this act), is repealed.

SB375,42 Section 42 . 452.025 of the statutes, as affected by 2015 Wisconsin Act .... (this act), is repealed.

SB375,43 Section 43. 452.025 (1) (b) 3. of the statutes is amended to read:

SB375,14,21 452.025 (1) (b) 3. Certification from the licensed broker employing firm with which the applicant is associated that the applicant is competent to act as a time-share salesperson.

SB375,44 Section 44. 452.025 (3) (a) of the statutes is amended to read:

SB375,14,25 452.025 (3) (a) A time-share salesperson registered under this section may act as a time-share salesperson only when employed by a licensed broker associated with a firm.

SB375,45 Section 45. 452.025 (3) (b) 2. g. of the statutes is amended to read:

SB375,15,3 452.025 (3) (b) 2. g. The signature of the time-share salesperson and the name of the employing broker firm with which the time-share salesperson is associated.

SB375,46 Section 46. 452.025 (4) of the statutes is repealed.

SB375,47 Section 47. 452.03 of the statutes is renumbered 452.03 (1) and amended to read:

SB375,15,13 452.03 (1) No Except as provided in s. 452.137, no person may engage in or follow the business or occupation of, or advertise or hold himself or herself out as, or act temporarily or otherwise as a broker or salesperson without a license issued under this chapter. The board may grant a license only to a person who is competent to transact such businesses that business or occupation in a manner that safeguards the interests of the public, and only after satisfactory proof of the person's competence has been presented to the board.

SB375,48 Section 48. 452.03 (2) of the statutes is created to read:

SB375,15,18 452.03 (2) No license under this chapter is required for an individual who, on behalf of and under the direction of a firm or one or more licensees associated with a firm, provides the firm or licensee with services that are limited to those that are purely administrative, clerical, or personal in nature.

SB375,49 Section 49. 452.05 (1) (a) of the statutes is amended to read:

SB375,15,22 452.05 (1) (a) Grant and issue licenses to individuals and business entities to act as brokers and to individuals to act salespersons and grant and issue registrations to time-share salespersons.

SB375,50 Section 50 . 452.05 (1) (a) of the statutes, as affected by 2015 Wisconsin Act .... (this act), is amended to read:

SB375,16,3 452.05 (1) (a) Grant and issue licenses to individuals and business entities to act as brokers and to individuals to act salespersons and grant and issue registrations to time-share salespersons.

SB375,51 Section 51. 452.05 (1) (i) (intro.) of the statutes is amended to read:

SB375,16,7 452.05 (1) (i) (intro.) Create a form on which an individual applying to renew a broker's or salesperson's license or a time-share salesperson's certificate of registration may do all of the following:

SB375,52 Section 52. 452.05 (1) (i) 1. of the statutes is amended to read:

SB375,16,11 452.05 (1) (i) 1. State whether he or she has been convicted of a crime since he or she last applied to renew the license or certificate or, for an initial renewal, since he or she initially applied for the license or certificate.

SB375,53 Section 53. 452.05 (1) (i) 3. b. of the statutes is amended to read:

SB375,16,14 452.05 (1) (i) 3. b. The board's authority to revoke the license or certificate under s. 452.14 (3) (o).

SB375,54 Section 54. 452.05 (1) (j) of the statutes is created to read:

SB375,16,17 452.05 (1) (j) Assign a unique license number to each person licensed under this chapter.

SB375,55 Section 55. 452.07 (1m) of the statutes is amended to read:

SB375,16,20 452.07 (1m) The board shall may promulgate rules that specify regarding the supervisory duties responsibilities of brokers under s. 452.12 (3) 452.132.

SB375,56 Section 56. 452.07 (2) of the statutes is amended to read:

SB375,17,9 452.07 (2) The board may promulgate rules establishing a procedure that allows an individual who does not possess a broker's or salesperson's license or a time-share salesperson's certificate of registration to, without submitting a full application and without paying the fees applicable to applicants, apply to the board for a determination of whether the individual would be disqualified from obtaining a license or certificate due to his or her criminal record. A determination made under this subsection, with respect to criminal convictions reviewed by the board as part of the determination, is binding upon the board and the department if the individual subsequently applies for a license or certificate, unless there is information relevant to the determination that was not available to the board at the time of the determination. The board may require a fee to be paid to the department for a determination issued under this subsection of an amount necessary to cover the cost of making the determination.

SB375,57 Section 57 . 452.07 (2) of the statutes, as affected by 2015 Wisconsin Act .... (this act), is amended to read:

SB375,17,24 452.07 (2) The board may promulgate rules establishing a procedure that allows an individual who does not possess a broker's or salesperson's license or a time-share salesperson's certificate of registration to, without submitting a full application and without paying the fees applicable to applicants, apply to the board for a determination of whether the individual would be disqualified from obtaining a license or certificate due to his or her criminal record. A determination made under this subsection, with respect to criminal convictions reviewed by the board as part of the determination, is binding upon the board and the department if the individual subsequently applies for a license or certificate, unless there is information relevant to the determination that was not available to the board at the time of the determination. The board may require a fee to be paid to the department for a determination issued under this subsection of an amount necessary to cover the cost of making the determination.

SB375,58 Section 58. 452.09 (1) (b) of the statutes is amended to read:

SB375,18,4 452.09 (1) (b) The name and address of the applicant; if. If the applicant is a business entity, the application shall also include the name and address of each business representative and the license number of each business representative licensed as a broker under this chapter.

SB375,59 Section 59. 452.09 (1) (c) of the statutes is repealed.

SB375,60 Section 60. 452.09 (2) (c) (intro.) of the statutes is amended to read:

SB375,18,9 452.09 (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 to be issued to an individual shall do all of the following:

SB375,61 Section 61. 452.09 (3) (a) of the statutes is amended to read: