AB40, s. 3229 3Section 3229. 452.05 (1) (d) of the statutes is amended to read:
AB40,1170,84 452.05 (1) (d) After consultation with the council on real estate curriculum and
5examinations, the board, brokers and salespersons licensed under this chapter, and
6interested members of the public, establish criteria for the approval of continuing
7educational programs and courses in real estate related subjects required for
8renewal under s. 452.12 (5) (c) 1.
AB40, s. 3230 9Section 3230. 452.05 (1m) (b) of the statutes is amended to read:
AB40,1170,1310 452.05 (1m) (b) In preparing the form for the offer to purchase commercial real
11property under sub. (1) (b), the department board shall include a statement that the
12seller represents to the buyer that the seller has no notice or knowledge that the
13commercial real property is a historic building.
AB40, s. 3231 14Section 3231. 452.05 (2) of the statutes is amended to read:
AB40,1170,1615 452.05 (2) The department board may prepare letters and bulletins and
16conduct clinics disseminating information to its licensees.
AB40, s. 3232 17Section 3232. 452.05 (3) of the statutes is amended to read:
AB40,1170,2218 452.05 (3) The department board may, after consultation with the board, enter
19into reciprocal agreements with officials of other states or territories of the United
20States for licensing brokers and salespersons and grant licenses to applicants who
21are licensed as brokers or salespersons in those states or territories according to the
22terms of the reciprocal agreements.
AB40, s. 3233 23Section 3233. 452.06 (2) (intro.) and (b) of the statutes are consolidated,
24renumbered 452.06 (2) and amended to read:
AB40,1171,5
1452.06 (2) The council on real estate curriculum and examinations shall do all
2of the following: (b) Periodically, but
not less than annually , review subjects covered
3on examinations for licensure under this chapter and the qualifications for
4instructors of and performance evaluations for educational and continuing
5educational programs, training sessions, and courses approved under this chapter.
AB40, s. 3234 6Section 3234. 452.06 (2) (a) of the statutes is repealed.
AB40, s. 3235 7Section 3235. 452.07 (title) of the statutes is amended to read:
AB40,1171,8 8452.07 (title) Rules; review of rules.
AB40, s. 3236 9Section 3236. 452.07 (1) of the statutes is amended to read:
AB40,1171,1110 452.07 (1) The department board shall promulgate rules for the guidance of the
11real estate profession and define professional conduct and unethical practice.
AB40, s. 3237 12Section 3237. 452.07 (1m) of the statutes is amended to read:
AB40,1171,1413 452.07 (1m) The department board shall promulgate rules that specify the
14supervisory duties of brokers under s. 452.12 (3).
AB40, s. 3238 15Section 3238. 452.07 (2) to (7) of the statutes are repealed.
AB40, s. 3239 16Section 3239. 452.09 (1) (intro.) of the statutes is amended to read:
AB40,1171,2017 452.09 (1) Form of application. (intro.) Any person desiring to act as a broker
18or salesperson shall submit to the department board an application for a license. The
19application shall be in such form as the department board prescribes and shall
20include the following:
AB40, s. 3240 21Section 3240. 452.09 (1) (e) of the statutes is amended to read:
AB40,1172,222 452.09 (1) (e) Any other information which that the department board may
23reasonably require to enable it to determine the competency of each applicant,
24including each business representative of the business entity, to transact the

1business of a broker or salesperson in a manner which that safeguards the interests
2of the public.
AB40, s. 3241 3Section 3241. 452.09 (2) (a) of the statutes is amended to read:
AB40,1172,104 452.09 (2) (a) Except as provided in a reciprocal agreement under s. 452.05 (3),
5each applicant for a salesperson's license shall submit to the department board
6evidence satisfactory to the department board of successful completion of
7educational programs approved for this purpose under s. 452.05 (1) (c). The
8department board may waive the requirement under this paragraph upon proof that
9the applicant has received 10 academic credits in real estate or real estate related
10law courses from an accredited institution of higher education.
AB40, s. 3242 11Section 3242. 452.09 (2) (c) 2. of the statutes is amended to read:
AB40,1172,1612 452.09 (2) (c) 2. Submit to the department board evidence satisfactory to the
13department board of successful completion of educational programs in business
14management approved for this purpose under s. 452.05 (1) (c). No educational
15programs applied to satisfy the requirement under subd. 1. may be applied to satisfy
16the requirement under this subdivision.
AB40, s. 3243 17Section 3243. 452.09 (2) (d) of the statutes is amended to read:
AB40,1172,2118 452.09 (2) (d) The department board may waive the requirements under par.
19(c) upon proof that the applicant has received 20 academic credits in real estate or
20real estate related law courses from an accredited institution of higher education or
21that the applicant is licensed to practice law in this state.
AB40, s. 3244 22Section 3244. 452.09 (3) (a) of the statutes is amended to read:
AB40,1173,723 452.09 (3) (a) In determining competency, the department board shall require
24proof that the applicant for a broker's or salesperson's license has a fair knowledge
25of the English language,; a fair understanding of the general purposes and general

1legal effect of deeds, mortgages, land contracts of sale, leases, bills of sale, chattel
2mortgages, and conditional sales contracts,; and a general and fair understanding
3of the obligations between principal and agent, as well as of this chapter. An The
4board shall deny a license to an
applicant receiving a failing grade, as established by
5rules of the department board, on any examination given under this section shall be
6denied a license
, but any applicant may review his or her examination results in a
7manner established by rules of the department board.
AB40, s. 3245 8Section 3245. 452.09 (3) (b) of the statutes is amended to read:
AB40,1173,119 452.09 (3) (b) The department board shall determine competency under par.
10(a) by means of only an oral examination for any applicant who is unable to write
11because of a physical handicap.
AB40, s. 3246 12Section 3246. 452.09 (3) (d) of the statutes is amended to read:
AB40,1173,1613 452.09 (3) (d) Except as provided in a reciprocal agreement under s. 452.05 (3),
14the department board may not grant a broker's license to an applicant who does not
15hold a salesperson's license unless the applicant passes the salesperson's
16examination and the broker's examination.
AB40, s. 3247 17Section 3247. 452.09 (5) of the statutes is amended to read:
AB40,1174,218 452.09 (5) Apprenticeships. Any person who is a resident of this state and 18
19years of age or over may, upon application filed in accordance with sub. (1), be
20indentured to a licensed resident broker in accordance with rules promulgated by the
21department board. These rules shall be promulgated so as to protect the public and
22may limit the real estate sales and brokerage activity of the apprentice. The
23department board may require an apprentice to take a preliminary examination
24covering general knowledge and may prescribe the character and extent of his or her
25work during apprenticeship. The department board may issue a temporary

1salesperson's permit to the individual for a period not to exceed one year upon
2payment of the fee under s. 440.05 (6). The temporary permit is not renewable.
AB40, s. 3248 3Section 3248. 452.10 (2) (b) of the statutes is amended to read:
AB40,1174,54 452.10 (2) (b) Unless an application is withdrawn in writing before the
5department board has made any investigation, no part of the fee shall be returned.
AB40, s. 3249 6Section 3249. 452.10 (4) (a) of the statutes is amended to read:
AB40,1174,97 452.10 (4) (a) Any licensed salesperson or broker may transfer to the
8employment of a licensed broker by first paying the transfer fee specified in s. 440.05
9(7) and filing a transfer form with the department board.
AB40, s. 3250 10Section 3250. 452.10 (6) of the statutes is amended to read:
AB40,1174,1311 452.10 (6) In the case of applications for renewals of licenses the department
12board may dispense with such matters contained in s. 452.09 (1) as it deems
13unnecessary in view of prior applications.
AB40, s. 3251 14Section 3251. 452.11 (3) of the statutes is amended to read:
AB40,1174,2415 452.11 (3) Every nonresident applicant, and every resident licensee who
16becomes a nonresident, shall file with the department board an irrevocable consent
17that actions may be commenced against the applicant or licensee in the proper court
18of any county of the state in which a cause of action arises or in which the plaintiff
19resides, by the service of any process or pleading authorized by the laws of this state
20on the department board or any duly authorized employee. The consent shall
21stipulate and agree that such service is valid and binding as due service upon the
22applicant or licensee in all courts in this state. The consent shall be duly
23acknowledged and, if made by a corporation, shall be authenticated by the corporate
24seal.
AB40, s. 3252 25Section 3252. 452.11 (4) of the statutes is amended to read:
AB40,1175,11
1452.11 (4) Any process or pleading under this section shall be served in
2duplicate upon the department board or its duly authorized employee. One copy
3shall be filed with the department board and the other immediately forwarded by
4certified mail to the nonresident licensee against whom the process or pleading is
5directed at the last address provided to the department board by the nonresident
6licensee. No default in any such proceeding or action may be taken unless it appears
7by affidavit of the secretary chairperson of the board or any duly authorized
8employee that a copy of the process or pleading was mailed to the nonresident
9licensee as required in this subsection. No judgment by default may be taken in any
10action or proceeding within 20 days after the date of mailing the process or pleading
11to the nonresident licensee.
AB40, s. 3253 12Section 3253. 452.12 (1) of the statutes is amended to read:
AB40,1175,1513 452.12 (1) Expiration. A license granted by the department board entitles the
14holder to act as a broker or salesperson, as the case may be, until the applicable
15renewal date specified under s. 440.08 (2) (a).
AB40, s. 3254 16Section 3254. 452.12 (2) (c) of the statutes is amended to read:
AB40,1175,2217 452.12 (2) (c) Application for a business entity license shall be made on forms
18prescribed by the department board, listing the names and addresses of all business
19representatives, and shall be accompanied by the initial credential fee determined
20by the department under s. 440.03 (9) (a). If there is a change in any of the business
21representatives, the change shall be reported to the department board, on the same
22form, within 30 days after the effective date of the change.
AB40, s. 3255 23Section 3255. 452.12 (4) of the statutes is amended to read:
AB40,1176,424 452.12 (4) Register of brokers and salespersons. The department shall
25maintain the register required by s. 440.035 (4).
The board shall include in the

1register the board maintains under s. 440.035 (4) the
names of all brokers and
2salespersons whose licenses have been were revoked at any time within the past 2
3years prior to the issuance thereof shall be included in the register. The register shall
4be available for purchase at cost.
AB40, s. 3256 5Section 3256. 452.12 (5) (b) of the statutes is amended to read:
AB40,1176,86 452.12 (5) (b) If an application for renewal is not filed with the department
7board on or before the renewal date, the applicant may not engage in any of the
8activities covered by the license until the license is renewed or a new license is issued.
AB40, s. 3257 9Section 3257. 452.12 (5) (c) 2. of the statutes is amended to read:
AB40,1176,1310 452.12 (5) (c) 2. Not later than June 30 of each even-numbered year, the
11department board shall conduct an examination on those subjects required for
12continuing education under s. 452.05 (1) (d). Any broker or salesperson who passes
13the examination under this subdivision is not required to comply with subd. 1.
AB40, s. 3258 14Section 3258. 452.12 (5) (d) of the statutes is created to read:
AB40,1176,1815 452.12 (5) (d) Annually, the department shall pay to the University of
16Wisconsin-Madison $10 of each renewal fee received under this subsection for
17support of the center for urban land economics in the School of Business at the
18University of Wisconsin-Madison under s. 37.25 (34).
AB40, s. 3259 19Section 3259. 452.12 (6) (b) of the statutes is amended to read:
AB40,1176,2220 452.12 (6) (b) Unless an applicant's license has been revoked or suspended
21under s. 452.14 (3), the department board may register the applicant under par. (a)
22as an inactive licensee upon payment of a $15 fee.
AB40, s. 3260 23Section 3260. 452.12 (6) (d) of the statutes is amended to read:
AB40,1177,224 452.12 (6) (d) If an inactive licensee files an application for reinstatement
25before January 1, 1996, the department board shall reinstate the inactive licensee's

1original license in accordance with the requirements for late renewal under s. 440.08
2(3).
AB40, s. 3261 3Section 3261. 452.12 (6) (e) (intro.) of the statutes is amended to read:
AB40,1177,64 452.12 (6) (e) (intro.) Except as provided in ss. 440.03 (11m) (b), 440.12 and
5440.13 (2) (a) (c), the department board shall reinstate an inactive licensee's original
6license as follows:
AB40, s. 3262 7Section 3262. 452.12 (6) (e) 1. of the statutes is amended to read:
AB40,1177,138 452.12 (6) (e) 1. If a person has registered as an inactive licensee before
9November 1, 1990, the department board shall reinstate the person's original license
10if that person applies to the department board for reinstatement of his or her original
11license, pays the fee specified under s. 440.05 (1), passes an examination under s.
12452.09 (3), and completes the education requirements established by the department
13board under par. (f).
AB40, s. 3263 14Section 3263. 452.12 (6) (e) 2. of the statutes is amended to read:
AB40,1177,2415 452.12 (6) (e) 2. If a person has registered as an inactive licensee on or after
16November 1, 1990, the department board shall reinstate the person's original license
17if that person applies to the department board for reinstatement of his or her original
18license, pays the renewal fee determined by the department under s. 440.03 (9) (a)
19for the original license and completes 12 hours of continuing education as established
20by the department board under par. (f). A person who is eligible for reinstatement
21of his or her original license under this subdivision shall complete the requirements
22for reinstatement under this subdivision before January 1, 1996, or within 5 years
23after the date on which the person registered as an inactive licensee, whichever is
24later.
AB40, s. 3264 25Section 3264. 452.12 (6) (e) 3. of the statutes is amended to read:
AB40,1178,5
1452.12 (6) (e) 3. If a person who is eligible for reinstatement of his or her
2original license under subd. 2. does not complete the requirements for reinstatement
3within the time specified under subd. 2., the department board shall reinstate the
4original license of that person if he or she meets the requirements specified under
5subd. 1.
AB40, s. 3265 6Section 3265. 452.12 (6) (f) of the statutes is amended to read:
AB40,1178,97 452.12 (6) (f) The department board shall promulgate rules establishing the
8education requirements that applicants for reinstatement of original licenses under
9par. (e) must satisfy.
AB40, s. 3266 10Section 3266. 452.13 (2) (b) 1. of the statutes is amended to read:
AB40,1178,1311 452.13 (2) (b) 1. Register with the department of regulation and licensing
12safety and professional services the name and address of the depository institution
13and the number of the interest-bearing common trust account.
AB40, s. 3267 14Section 3267. 452.13 (2) (b) 2. of the statutes is amended to read:
AB40,1178,1715 452.13 (2) (b) 2. Notify the department of regulation and licensing safety and
16professional services
when any of the information required under subd. 1. is
17changed.
AB40, s. 3268 18Section 3268. 452.13 (2) (b) 3. of the statutes is amended to read:
AB40,1178,2519 452.13 (2) (b) 3. Furnish the department of regulation and licensing safety and
20professional services
with a letter authorizing the department of regulation and
21licensing
safety and professional services and the department of commerce
22Wisconsin Housing and Economic Development Authority to examine and audit the
23interest-bearing common trust account whenever the department of regulation and
24licensing
safety and professional services or the department of commerce Wisconsin
25Housing and Economic Development Authority
considers it necessary.
AB40, s. 3269
1Section 3269. 452.13 (2) (bm) of the statutes is amended to read:
AB40,1179,52 452.13 (2) (bm) The department of regulation and licensing safety and
3professional services
shall forward to the department of commerce Wisconsin
4Housing and Economic Development Authority
the information and documents
5furnished under par. (b).
AB40, s. 3270 6Section 3270. 452.13 (2) (d) of the statutes is amended to read:
AB40,1179,97 452.13 (2) (d) The department of commerce Wisconsin Housing and Economic
8Development Authority
is the beneficial owner of the interest accruing to the
9interest-bearing common trust account, minus any service charges or fees.
AB40, s. 3271 10Section 3271. 452.13 (2) (e) 1. of the statutes is amended to read:
AB40,1179,1711 452.13 (2) (e) 1. Annually, before February 1, remit to the department of
12commerce
Wisconsin Housing and Economic Development Authority the total
13interest or dividends, minus service charges or fees, earned on the average daily
14balance in the interest-bearing common trust account during the 12 months ending
15on the previous December 31. A depository institution is not required to remit any
16amount if the total interest or dividends for that period is less than $10 before any
17deduction for service charges or fees.
AB40, s. 3272 18Section 3272. 452.13 (2) (e) 2. of the statutes is amended to read:
AB40,1179,2419 452.13 (2) (e) 2. When the interest remittance is sent, furnish to the
20department of commerce Wisconsin Housing and Economic Development Authority
21and to the broker maintaining the interest-bearing common trust account a
22statement that includes the name of the broker for whose account the remittance is
23made, the rate of interest applied, the amount of service charges or fees deducted,
24if any, and the account balance for the period that the statement covers.
AB40, s. 3273 25Section 3273. 452.13 (2) (f) 2. of the statutes is amended to read:
AB40,1180,3
1452.13 (2) (f) 2. May not assess a service charge or fee for an interest-bearing
2common trust account against the department of commerce Wisconsin Housing and
3Economic Development Authority
.
AB40, s. 3274 4Section 3274. 452.13 (2) (f) 3. of the statutes is amended to read:
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