07RS HB86

HB86

WWW Version

The hyperlink to a bill draft that precedes a summary contains the most recent version (Introduced/GA/Enacted) of the bill. If the session has ended, the hyperlink contains the latest version of the bill at the time of sine die adjournment. Note that the summary pertains to the bill as introduced, which is often different from the most recent version.

Includes opposite chamber sponsors where requested by primary sponsors of substantially similar bills in both chambers and jointly approved by the Committee on Committees of both chambers. Opposite chamber sponsors are represented in italics.


HB 86/CI (BR 114) - R. Rand, R. Adams, C. Embry Jr, D. Keene

     AN ACT relating to real estate brokerage.
     Amend KRS 324.045 to make applicants for licensure as a real estate broker subject to a national criminal history check involving the National Crime Information Center; require applicants to complete the check within 90 calendar days prior to the application, pay the cost of the check, and release the results to the commission; amend KRS 324.111, 324.151, and 324.170 to allow the commission to conduct emergency procedures when a licensee is alleged to have committed an escrow account violation; direct maintenance of broker escrow accounts in banks that have agreed to notify the commission in writing during the normal course of business if an overdraft occurs in the account for any reason other than service charged instituted by the bank; amend KRS 324.150 to allow the commission to conduct an emergency hearing in accordance with KRS Chapter 13B when a licensee is alleged to have committed an escrow account violation; require the commission to promulgate administrative regulations to describe when emergency action is justified; amend KRS 324.160 to remove the prohibition on offering prizes for the purpose of influencing a purchaser or prospective purchaser of real estate; amend KRS 324.165 to conform; amend KRS 324.287 to permit the commission to charge fees not to exceed $30 for educational program accreditation and for certification as an approved instructor under certain circumstances, and to charge fees not to exceed $100 for timeshare registrations and returned or dishonored checks; amend KRS 324.310 and 324.312 to direct a principal broker to return an associate's license to the commission immediately upon the termination of the association between the broker and the associate, or at any time upon the commission's request; declare that if a principal broker fails to return the license to the commission within five business days, the license is considered released and the principal broker is deemed in violation of the prohibition against conduct that constitutes improper, fraudulent, or dishonest dealing; amend KRS 324.420 to deny compensation from the real estate education, research, and recovery fund to any aggrieved party, unless the compensation is for actual financial harm suffered by the aggrieved party, and this financial harm is specifically and directly related to the property purchase or condition; amend KRS 324.990 to authorize a fine not to exceed $500 for the first offense and $2,500 for subsequent offenses for each day of engaging in real estate brokerage without a license; declare that the District Court has original jurisdiction over any charge for the first offense of engaging in real estate brokerage without a license, and over any misdemeanor offenses for violation of a provision of KRS Chapter 324; make technical corrections.

HB 86 - AMENDMENTS


     HCS - Retain original provisions, except remove new language making real estate broker applicants subject to an FBI criminal history check; increase the maximum fine the commission may levy for specified misconduct from $1,000 to $2,500; require a principal broker to return an associate's license to the commission immediately after a termination of the association if the termination is in writing; broaden the type of financial harm eligible for compensation from the real estate education, research, and recovery fund to that specifically and directly related to the property rather than only harm related to the property purchase or condition; delete section that created penalties for engaging in real estate brokerage without a license and referred to district court jurisdiction.

     HFA (1, R. Palumbo) - Amend KRS 324A.040 to require all applicants for licensure as a real estate appraiser to submit to a national criminal history check through the National Crime Information Center; set various procedural requirements for the criminal history check, including law enforcement involvement, costs, timing, and release of the results to the board.

     HFA (2, R. Palumbo) - Amend KRS 324A.040 to require all applicants for licensure as a real estate appraiser to submit to a national criminal history check through the National Crime Information Center; set various procedural requirements for the criminal history check, including law enforcement involvement, costs, timing, and release of the results to the board.

     HFA (3/Title, R. Palumbo) - Make title amendment.

     (Prefiled by the sponsor(s).)

     Jan 2-introduced in House
     Jan 3-to Licensing and Occupations (H)
     Feb 13-posted in committee
     Feb 21-floor amendment (1) filed to Committee Substitute, floor amendments (2) and (3-title) filed ; reported favorably, 1st reading, to Calendar with Committee Substitute
     Feb 22-2nd reading, to Rules
     Feb 26-posted for passage in the Regular Orders of the Day for Tuesday, February 27, 2007


Kentucky Legislature Home Page | Record Front Page