(A) The commission may recognize nonresident real estate licenses on active status from other jurisdictions only if the other jurisdiction recognizes South Carolina real estate licenses on active status. An applicant from another jurisdiction successfully shall complete the state portion of the applicable examination before license recognition will be acknowledged. The commission may enter into reciprocal agreements with real estate regulatory authorities of other jurisdictions that provide for waivers of education requirements or examinations if the commission considers the education and examination requirements of another jurisdiction to be substantially equivalent to the requirements of this chapter.
(B) A nonresident licensee, acknowledged by the commission, is not required to maintain a place of business in this State if the nonresident maintains an active place of business in the state of residence. A nonresident applicant shall file an irrevocable consent that suits and actions may be commenced against him in the proper court in a judicial circuit of the state in which a cause of action may arise or in which the plaintiff may reside.
(C)(1) A resident licensee who becomes a nonresident must notify the commission in writing, within thirty days, of the change in residency and comply with nonresident requirements or place his license on inactive status to avoid cancellation of the license.
(2) A nonresident licensee who becomes a resident of South Carolina must notify the commission in writing, within thirty days, of the change in residency and comply with the requirements of this chapter or place his license on inactive status to avoid cancellation of the license.
(3) Failure to timely notify the commission of a change in residency and compliance to comply with the requirements of this subsection are violations of this chapter subject to penalties provided in Section 40-57-710.
(D) A nonresident applicant or licensee must comply with all requirements of commission regulations and of this chapter. The commission may adopt regulations necessary for the regulation of nonresident licensees.
(E) A resident licensee may pay a part of his commission as a referral fee on a cooperative basis to a brokerage of another state or jurisdiction if that brokerage's license does not conduct, in this State, a real estate brokerage service for which a fee, compensation, or commission is paid.
HISTORY: 1997 Act No. 24, Section 1; 1999 Act No. 18, Section 1; 2016 Act No. 170 (S.1013), Section 1, eff January 1, 2017; 2017 Act No. 77 (H.3861), Section 1, eff May 19, 2017.
Editor's Note
Prior Laws:1957 (50) 193; 1960 (51) 1727; 1962 Code Section 56-1545.13; 1972 (57) 2649; 1988 Act No. 609, Section 2; 1994 Act No. 385, Section 10; 1976 Code Section 40-57-140.
Effect of Amendment
2016 Act No. 170, Section 1, rewrote the section, deleting former (A) and (B), relating to reciprocity, redesignating former (C) through (F) as (A) through (D), and adding (G).
2017 Act No. 77, Section 1, in (A), added the third sentence, providing that the commission may enter into reciprocal agreements with real estate regulatory authorities of other jurisdictions.
Structure South Carolina Code of Laws
Title 40 - Professions and Occupations
Chapter 57 - Real Estate Brokers, Salesmen, And Property Managers
Section 40-57-5. Applicability of chapter; conflicts of laws.
Section 40-57-10. South Carolina Real Estate Commission created; purpose.
Section 40-57-30. Definitions.
Section 40-57-40. Membership; terms of appointment.
Section 40-57-50. Election of officers; seal; rules and procedures.
Section 40-57-60. Powers and duties of commission.
Section 40-57-65. Annual report.
Section 40-57-70. Application and license fees; allocation of fees; annual report.
Section 40-57-90. Application for examination or licensure; form and fees.
Section 40-57-110. Issuance and classification of license; inactive status; renewal; lapse.
Section 40-57-120. Nonresident licensees; change in residency; referral fees by resident licensees.
Section 40-57-136. Trust accounts; disputes; records.
Section 40-57-240. Applicability of chapter.
Section 40-57-310. Qualifications for licensure.
Section 40-57-320. Conditions for license application; education; examination; fees.
Section 40-57-360. Broker-in-charge responsible for team supervision.
Section 40-57-370. Duty of licensee to provide disclosure of brokerage relationships; exceptions.
Section 40-57-510. Manager or property manager-in-charge license.
Section 40-57-520. Management of residential multiunit rental locations.
Section 40-57-730. Licensure after revocation.
Section 40-57-750. Costs of investigation and prosecution of violations.
Section 40-57-760. Imposition of costs; collection.
Section 40-57-770. Confidentiality and privileged communications.
Section 40-57-780. Failure to renew or register license; penalties.
Section 40-57-790. Civil actions.