37-51-302. Broker or salesperson license -- qualifications of applicant. (1) Licenses may be granted only to individuals considered by the board to be of good repute and competent to transact the business of a broker or salesperson in a manner as to safeguard the interests of the public.
     (2) An applicant for a broker's license shall:
     (a) be at least 18 years of age;
     (b) have graduated from an accredited high school or completed an equivalent education as determined by the board;
     (c) have been actively engaged as a licensed real estate salesperson for a period of 2 years or have had experience or special education equivalent to that which a licensed real estate salesperson ordinarily would receive during this 2-year period as determined by the board, except that if the board finds that an applicant could not obtain employment as a licensed real estate salesperson because of conditions existing in the area where he resides, the board may waive this experience requirement;
     (d) file an application for license with the department; and
     (e) furnish written evidence that he has completed 60 classroom or equivalent hours (in addition to those required to secure a salesperson's license) in a course of study approved by the board and taught by instructors approved by the board and has satisfactorily passed an examination dealing with the material taught in each course. The course of study must include the subjects of real estate principles, real estate law, real estate finance, and related topics.
     (3) The board shall require information it considers necessary from an applicant to determine his honesty, trustworthiness, and competency.
     (4) (a) An applicant for a salesperson's license shall:
     (i) be at least 18 years of age;
     (ii) have received credit for completion of 2 years of full curriculum study at an accredited high school or completed an equivalent education as determined by the board;
     (iii) file an application for license with the department; and
     (iv) furnish written evidence that he has completed 60 classroom or equivalent hours in a course of study approved by the board and taught by instructors approved by the board and has satisfactorily passed an examination dealing with the material taught in each course. The course of study must include the subjects of real estate principles, real estate law and ethics, real estate finance, and related topics.
     (b) His application shall be accompanied by the recommendation of the licensed broker by whom the applicant will be employed or placed under contract, certifying that the applicant is of good repute and that the broker will actively supervise and train the applicant during the period the requested license remains in effect.
     (5) The department shall issue to each licensed broker and to each licensed salesperson a license and a pocket card in a form and size as the board prescribes.
     (6) A broker's license must indicate whether the broker is a broker owner or a broker associate.

     History: En. Sec. 6, Ch. 250, L. 1963; amd. Sec. 3, Ch. 261, L. 1969; amd. Sec. 10, Ch. 423, L. 1971; amd. Sec. 180, Ch. 350, L. 1974; R.C.M. 1947, 66-1929; amd. Sec. 2, Ch. 306, L. 1979; amd. Sec. 7, Ch. 341, L. 1981; amd. Sec. 2, Ch. 269, L. 1985; amd. Sec. 6, Ch. 565, L. 1995.