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HB 802 - Real estate company franchises; license requirements

Stancil, Steve (16th)	DeLoach, Buddy (172nd)	Pinholster, Garland (15th)

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First Reader Summary

A BILL to amend Chapter 40 of Title 43 of the Official Code of Georgia Annotated, relating to real estate brokers and salespersons, so as to provide for license requirements with respect to real estate company franchises; to provide for a definition; to provide for powers, duties, and authority of the Georgia Real Estate Commission; and for other purposes.

Code Sections - 43-40-30.2

HB 802                                             LC 18 9602 
 
 
 
 
 
 
                        A BILL TO BE ENTITLED 
                               AN ACT 
 
 
  1- 1  To amend Chapter 40 of Title 43 of the Official Code of 
  1- 2  Georgia Annotated, relating to real estate brokers and 
  1- 3  salespersons, so as to provide for license requirements with 
  1- 4  respect to real estate company franchises; to provide for a 
  1- 5  definition; to provide for powers, duties, and authority of 
  1- 6  the Georgia Real Estate Commission; to provide for an 
  1- 7  effective date; to repeal conflicting laws; and for other 
  1- 8  purposes. 
 
  1- 9       BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA: 
 
  1-10                           SECTION 1. 
 
  1-11  Chapter 40 of Title 43 of the Official Code of Georgia 
  1-12  Annotated, relating to real estate brokers and salespersons, 
  1-13  is amended by adding a new Code section immediately 
  1-14  following Code Section 43-40-30.1, to be designated Code 
  1-15  Section 43-40-30.2, to read as follows: 
 
  1-16    "43-40-30.2. 
 
  1-17    (a) As used in this Code section, the term 'real estate 
  1-18    company' means any person, firm, corporation, or other 
  1-19    entity which franchises businesses in this state which 
  1-20    provide real estate sales or brokerage services. 
 
  1-21    (b) Each real estate company doing business in this state 
  1-22    shall be required to have an annual franchisor's license 
  1-23    which shall be issued by the commission. 
 
  1-24    (c) The commission shall collect a fee for such 
  1-25    franchisor's license which shall be determined at the rate 
  1-26    of $500.00 per franchise location of the applicant." 
 
  1-27                           SECTION 2. 
 
  1-28  This Act shall become effective upon its approval by the 
  1-29  Governor or upon its becoming law without such approval. 
 
 
 
 
 
 
                                 -1- 
 
 
 
  2- 1                           SECTION 3. 
 
  2- 2  All laws and parts of laws in conflict with this Act are 
  2- 3  repealed. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                 -2-