Legislative Session number- 82

Bill Name: SF1541

E Relating to commerce; expanding the application of the fees paid to the
commissioner of commerce for approval of continuing education courses and course
coordinators to fees for approval of education courses and course coordinators;
eliminating the requirement for the commissioner to annually investigate
currency exchange businesses, granting the commissioner investigatory
discretion; establishing the consumer education account in the special revenue
fund for commissioner grants to programs and campaigns designed to help
consumers avoid victimization by unscrupulous lenders and mortgage brokers,
increasing the fees for initial and renewal residential mortgage originator
license fees, requiring crediting of the additional amount to the account;
increasing the minimum education credit for insurance agents teaching or
lecturing at accredited continuing insurance education courses; expanding the
provision providing for issuance of insurance adjuster licenses without
examination relating to successful completion of qualifying adjuster programs;
modifying the initial license term for insurance adjusters, authorizing renewal;
modifying the time limit for commissioner summary suspension of the
effectiveness of corporate takeover offers after filing of the registration
statement; modifying certain real estate broker and salesperson agreement and
disclosure form content requirements and requiring licensees to disclose to
prospective buyers material facts adversely affecting the use or enjoyment of
the property; modifying and making permanent the program for delivery of
continuing education courses for real estate brokers through interactive
technology; requiring financial institutions to notify the commissioner of
dishonored drafts drawn on real estate trust accounts; requiring orders for real
estate broker or salesperson license denial, suspension or revocation to state
the specific statute or rule violated; requiring and providing for commissioner
accelerated payment of claims against the recovery portion of the real estate
education, research and recovery fund in response to conciliation court
judgments under certain conditions, specifying a claims limit; authorizing the
commissioner to suspend the real estate education, research and recovery fund
fee under certain fund balance excess conditions; removing a certain reference
to the licensing of registered real property appraisers; eliminating the
additional license requirement for the sale of subdivided lands after a certain
date and the exception to the minimum number of members required on boards of
directors of nonprofit corporations; strengthening the provision authorizing
commissioner denial, suspension or revocation of residential contractor licenses
relating to state building code violations; increasing the limit under the
contractors recovery fund relating to liability per licensee; modifying the
process for appeal of collection agency licensing decisions; extending the time
limit for application for reappointment of notary commissions and standardizing
the expiration date for commissions; clarifying the prohibition on the charging
of residential real estate closing fees in closings performed without a title
insurance commitment; requiring the commissioner to study the issue of
continuing education course requirements for real estate appraisers and licensed
mortgage originators and servicers employees relating to state and federal fair
housing laws to further consumer protection and report to the legislature by a
certain date; appropriating money to the department of commerce for an
educational campaign aimed at fair housing and housing related
antidiscrimination initiatives (mk, ja)