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House committee adopts fix to property-manager licensing, narrows license to residential work
Summary
The House Business and Labor Committee adopted the first substitute to HB377, reinstating a dual-broker option and clarifying that the new property-manager license applies only to residential property-management activities; the substitute also tightens document-retention and trust-account provisions.
Representative Walter, the bill sponsor, told the House Business and Labor Committee that House Bill 377 is intended as a technical correction to legislation enacted last year and ‘‘It reinstates the dual broker license’’ to avoid forcing existing brokers to shut down longstanding brokerages. He said the measure narrows the new property-manager license to ‘‘residential activities only’’ and clarifies rules on document retention and when…
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