LRB-1621/1
MED:cjs:cs
2015 - 2016 LEGISLATURE
February 19, 2015 - Introduced by Senator Olsen, cosponsored by Representative
Knudson. Referred to Committee on Insurance, Housing, and Trade.
SB41,1,3
1An Act to amend 452.137 (4) (a) of the statutes;
relating to: cooperative
2agreements for out-of-state real estate brokers, salespersons, and time-share
3salespersons.
Analysis by the Legislative Reference Bureau
Current law authorizes limited real estate practice in this state by an
out-of-state real estate broker who is not licensed by the Real Estate Examining
Board (REEB), and for the broker's out-of-state salesperson or time-share
salesperson, if the out-of-state broker enters into a cooperative agreement with a
broker licensed by the REEB. Under current law, the REEB is required to develop,
by rule, the form and content of the cooperative agreement.
This bill deletes the requirement that the form be developed by rule.
For further information see the state fiscal estimate, which will be printed as
an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
SB41,1
4Section
1. 452.137 (4) (a) of the statutes is amended to read:
SB41,2,2
1452.137
(4) (a) The board shall
, by rule, establish the form and terms of the
2cooperative agreement.
