(A) Fees relevant to the licensure and regulation of real estate brokers, salespersons, and property managers must be established in accordance with Section 40-1-50(D) and promulgated by regulation prior to implementation.
(B) Application and license fees must be paid to the commission in advance and must accompany an examination application or a license application. An application fee is nonrefundable.
(C)(1) The department may allocate up to ten dollars of each license renewal fee to the South Carolina Real Estate Commission Education and Research Fund which is established as a separate and distinct account within the Office of the State Treasurer. The funds collected must be deposited in this account and used exclusively for the:
(a) advancement of education and research for the benefit of those licensed under this chapter and for the improvement and increased efficiency of the real estate industry in this State;
(b) analysis and evaluation of factors which affect the real estate industry in this State; and
(c) dissemination of the results of the research.
(2) The commission annually by August first shall submit a report on how the funds were expended for the preceding fiscal year to the Chairs of the Senate Labor, Commerce and Industry Committee and House Labor, Commerce and Industry Committee.
HISTORY: 1997 Act No. 24, Section 1; 2004 Act No. 218, Section 26; 2016 Act No. 170 (S.1013), Section 1, eff January 1, 2017.
Effect of Amendment
2016 Act No. 170, Section 1, in (A), substituted "Fees relevant" for "All fees relevant"; deleted former (B), related to reinstatement penalty, and redesignated former (C) and (D) as (B) and (C); in (B) substituted "commission" for "department"; in (C)(1), substituted "is established" for "must be established"; and made nonsubstantive and gender neutral changes throughout.
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.