CHAPTER 714 Vol. 60

HOUSE BILL NO. 1257

AS AMENDED BY HOUSE AMENDMENT NO. 1

AN ACT TO AMEND CHAPTER 29, TITLE 24, DELAWARE CODE RELATING TO REAL ESTATE BROKERS AND SALESMEN.

Be it enacted by the General Assembly of the State of Delavvare:

Section 1. Amend §2902(f), Chapter 29, Title 24, Delaware Code by inserting after the word "receive" and before the word "the" as the same appear in said subsection the words "compensation at the rate of $50.00 per meeting and".

Section 2. Amend §2909, Chapter 29, Title 24, Delaware Code by striking said Section in its entirety and substituting in lieu thereof a new §2909 to read as follows:

"§2909. Certificates to nonresidents.

A nonresident of this State who is a licensed broker or salesman in another state may obtain a similar license as a broker or salesman in this State by complying with the provisions of this Chapter, provided that the nonresident broker or salesman is regularly engaged in the real estate business in the other state, and provided that such other state offers the same reciprocal privileges to licensed brokers and salesman of this State. Such nonresident licensed broker or salesman need not maintain a place of business within this State. The Commission may license such nonresident broker or salesman without examination if he has been duly licensed for a broker's or salesman's license in the other state. The Commission may, in its discretion, refuse to license as a broker or salesman an applicant who is not a resident of this State.

Every nonresident applicant prior to being licensed, shall file an irrevocable consent that legal action may be commenced against him in the proper court of any county of this State in which a cause of action may arise or in which the plaintiff may reside, by service of any process or pleading authorized by the laws of this State upon any member of the Commission, or the Secretary thereof. In case any processes or pleadings are served upon any member of the Commission, or the Secretary, a copy thereof shall be immediately forwarded by certified or registered mail to the main office of the licensee against which process or pleadings are directed."

Section 3. Amend §2910, Chapter 29, Title 24, Delaware Code by striking said Section in its entirety and substituting in lieu thereof a new §2910 to read as follows:

"§2910. Issuance of a broker's certificate within a corporation.

Corporations, partnerships and associations shall not be licensed under this Chapter, but nothing in this Chapter shall prevent a corporation or partnership from acting as a real estate broker provided that every officer of any corporation and every member of any partnership actually negotiating or attempting to negotiate the listing, sale, purchase, rental, exchange or lease of any real estate or of the improvements thereon, or collecting rents or attempting to collect, on behalf of said corporation or partnership, shall be licensed as a broker or salesman. All officers of any corporation or all members of any partnership, acting as a broker or salesman, shall be deemed in violation of this Chapter unless there be full compliance with these provisions."

Section 4. Amend §2912(a), Chapter 29, Title 24, Delaware Code by inserting after the word "chapter" and before the word "at" as the same appear in said subsection the words "or reprimand any licensee".

Section 5. Amend Section 2912, Chapter 29, Title 24, of the Delaware Code by adding a new subsection designated as subsection (c) to read as follows:

"(c) The commission shall suspend or revoke any certificate issued under the provisions of this Chapter at any time where the certificate holder has been convicted in a court of competent jurisdiction of this or any other State, or a Federal Court, of the crime of forgery, embezzlement, obtaining money under false pretenses, bribery, larceny, extortion, conspiracy to defraud, or any similar offense or has had entered a plea of guilty or nolo contendere to any similar offense."

Section 6. Amend §2918, Chapter 29, Title 24,

Delaware Code by striking said Section in its entirety and substituting in lieu thereof a new §2918 to read as follows:

"§2918. Maintenance of place of business.

Each licensed broker who is a resident of this State shall maintain an office within this State. The original license of a broker and of each salesman under contract to such broker shall be prominently displayed in the broker's office. The address of the office shall be designated in the broker's license, and no license issued under this Chapter shall authorize the licensee to transact real estate business at any other location, unless there is an approved branch office.

Each licensed broker shall also maintain a conspicuous sign on the outside of his office of such size and content as the Commission shall deem proper.

If the broker maintains more than one place of business within the State, he shall apply for and obtain an additional license in his name at each such branch office. Every such application shall state the location of the branch office and the name of the person in charge of it. Each branch office shall be under the direction and supervision of a broker licensed at that address."

Approved August 17, 1976