Bill Text: MS SB2791 | 2024 | Regular Session | Introduced
Bill Title: Real Estate Commission; allow to issue voluntary use of real estate licensees in residential transactions.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Failed) 2024-03-05 - Died In Committee [SB2791 Detail]
Download: Mississippi-2024-SB2791-Introduced.html
MISSISSIPPI LEGISLATURE
2024 Regular Session
To: Business and Financial Institutions
By: Senator(s) Blackwell
Senate Bill 2791
AN ACT TO AMEND SECTION 73-35-35, MISSISSIPPI CODE OF 1972, TO AUTHORIZE THE MISSISSIPPI REAL ESTATE COMMISSION TO PROMULGATE RULES, REGULATIONS AND FORMS FOR VOLUNTARY USE OF MISSISSIPPI REAL ESTATE LICENSEES IN RESIDENTIAL REAL ESTATE TRANSACTIONS IN MISSISSIPPI; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. Section 73-35-35, Mississippi Code of 1972, is amended as follows:
73-35-35. (1) The commission may act by a majority of the members thereof, and authority is hereby given to the commission to adopt, fix and establish all rules and regulations in its opinion necessary for the conduct of its business, the holdings of hearings before it, and otherwise generally for the enforcement and administration of the provisions of this chapter.
Further, the commission is empowered with the authority to adopt such rules and regulations as it deems appropriate to regulate the sale of timesharing and condominium properties within the State of Mississippi and the sale of timesharing and condominium properties in other states to residents of Mississippi.
(2) Beginning on July 1, 2019, the commission shall provide notice by email to each real estate broker and real estate salesperson who has provided an email address to the commission under Section 73-35-9 or 73-35-18 of each proposed rule or regulation change or adoption. The notice required under this subsection must be given on no less than three (3) separate occasions during the notice period prescribed under the Mississippi Administrative Procedures Law (Chapter 43, Title 25, Mississippi Code of 1972).
(3) The commission is authorized to develop and publish forms for voluntary use by Mississippi real estate licensees for Mississippi residential real estate transactions. The commission shall promulgate rules and regulations as necessary to accomplish the purpose of this section in accordance with Mississippi Administrative Procedures Law.
SECTION 2. This act shall take effect and be in force from and after its passage.
