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24th Alaska State Legislature
The 24th Alaska State Legislature
Alaska State Representative Norman Rokeberg
Sectional Analysis

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Anchorage, AK 99501
Phone: (907) 269-0117
Fax: (907) 269-0119

Real Estate Licensee Education
Sectional Analysis for House Bill 169
Alaska State Legislature
Alaska State Legislature
Attachments Attachments

 
Released:
February 24, 2005
Updated:
February 19, 2012


"An Act relating to the educational requirements for certain real estate brokers, associate brokers, and salespersons with new or suspended licenses; relating to review of real estate transactions by attorneys or associate brokers; relating to the requirements for a real estate broker license and an associate real estate broker license; and providing for an effective date. "


"HB 169 will allow brokers to employ associate brokers or attorneys to assist in the orderly review of real estate transactions prior to the closing of the transaction."
- Rep. Rokeberg

 

Section 1: Requires a real estate licensee comply with education requirements before a suspended license can be reinstated.

Section 2: Makes conforming amendments.

Section 3: Makes a conforming amendment.

Section 4: Creates AS 08.88.095, new education requirements for a licensee after initial license:

  1. An initial licensee has one year from the date of the initial license to complete 20 hours of education
  2. The initial license shall state that license is subject to education requirements
  3. Within 30 days after end of one-year period, licensee shall submit certification of education to Real Estate Commission
  4. After education requirements met, new license is issued without language in subsection (b)
  5. If licensee fails to complete education or submit certification, the license automatically lapses 30 days after the end of the one-year period
  6. A initially licensed broker, who previously had an associate broker's license, is not required to satisfy these new educational requirements
  7. Real Estate Commission cannot prevent a licensee from completing these education requirements within a two-day period
  8. Defines "educational requirements"

Creates AS 08.88.098, educational requirements after suspension:

  1. If a license is suspended for six months or more, the licensee shall complete 20 hours of education
  2. The licensee shall submit certification that the educational requirements have been met
  3. These education requirements are in addition to any other conditions for reinstating the license
  4. Real Estate Commission cannot prevent a licensee from completing these education requirements within a two-day period
  5. If the suspension occurs during the first year after the initial license, the post-licensing education requirements can be used to satisfy the education requirements established in subsection (a)

Section 5: Makes conforming amendments.

Section 6: Makes conforming amendments.

Section 7: Makes conforming amendments.

Section 8: Allows the Department of Commerce, Community and Economic Development to set a fee for the new license under AS 08.88.095(d).

Section 9: Makes conforming amendments.

Section 10: Provides that a real estate licensee, whose initial license lapses due to failure to complete the education requirements, is not eligible for an "inactive" license until the license is properly reinstated.

Section 11: Requires a real estate licensee, who has not held a license issued by another state for more than one year, to complete the post-education requirements before an Alaska license will be issued.

Section 12: Makes a conforming amendment.

Section 13: Makes a conforming amendment.

Section 14: Allows a real estate broker to hire an attorney or associate broker to review a real estate transaction before the transaction closes.

Section 15: Makes conforming amendment.

Section 16: Defines "initial license."

Section 17: Sets forth the applicability of the new educational requirements on "initial licenses."

Section 18: Allows the Department of Commerce, Community and Economic Development to proceed with adopting regulations regarding the new educational requirements.

Section 19: Provides an immediate effective date for the sections on use of experts.

Section 20: Provides an effective date of January 1, 2006 for the sections on post-licensing education.

# # #

 
Attachments:
 
·
Print Text Version
· Acrobat PDF Version [PDF - 2 pages - 38 KB]
· Sponsor Statement
· Complete Bill Text for HB 169


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