Stricken language would be deleted from and underlined language would be added to present law.
*LGL025* 02/21/2025 11:38:39 AM LGL025
State of Arkansas 1
95th General Assembly A Bill 2
Regular Session, 2025 HOUSE BILL 1558 3
4
By: Representatives McGrew, R. Scott Richardson, Bentley, R. Burkes, Duffield, Furman, Long, 5
McClure, Torres 6
By: Senator Caldwell 7
8
For An Act To Be Entitled 9
AN ACT TO AMEND THE LAW CONCERNING THE ARKANSAS REAL 10
ESTATE COMMISSION; TO CREATE A PROPERTY MANAGEMENT 11
BROKER AND PROPERTY MANAGEMENT ASSOCIATE LICENSE; TO 12
AMEND THE REAL ESTATE LICENSE LAW; AND FOR OTHER 13
PURPOSES. 14
15
16
Subtitle 17
TO AMEND THE LAW CONCERNING THE ARKANSAS 18
REAL ESTATE COMMISSION; TO CREATE A 19
PROPERTY MANAGEMENT BROKER AND PROPERTY 20
MANAGEMENT ASSOCIATE LICENSE; AND TO 21
AMEND THE REAL ESTATE LICENSE LAW. 22
23
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS: 24
25
SECTION 1. DO NOT CODIFY. Legislative findings. 26
The General Assembly finds that: 27
(1) The Arkansas Real Estate Commission currently requires an 28
individual to have a real estate broker license issued through the commission 29
to rent or lease real property on behalf of an owner; 30
(2) The knowledge and skills necessary for a property management 31
broker to protect citizens and the business community can be specialized and 32
does not require the same skills and knowledge as those for a real estate 33
broker or salesperson; 34
(3) A property management broker license could create a higher quality 35
of property management broker in Arkansas with specialized knowledge; 36 HB1558
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(4) The creation of a property management broker license would reduce 1
the education burden on individuals who might not otherwise pursue other real 2
estate broker license occupations and potentially create new jobs; and 3
(5) The commission is the appropriate entity to license an individual 4
as a property management broker or as a property management associate. 5
6
SECTION 2. Arkansas Code § 17 -42-103 is amended to read as follows: 7
17-42-103. Definitions. 8
As used in this chapter: 9
(1)(A) “Associate broker” means an individual who has a broker's 10
license and who is employed by a principal broker, or is associated with a 11
principal broker as an independent contractor, and who participates in any 12
activity described in subdivision (10) or subdivision (12) of this section 13
while under the supervision of a principal broker or executive broker. 14
(B) An associate broker shall have no supervisory 15
authority over any other licensee; 16
(2) “Branch office” means a principal broker's office or 17
property management broker's office other than his or her principal place of 18
business; 19
(3) “Broker's price opinion” means an estimate prepared by a 20
licensee salesperson or real estate broker that details the probable selling 21
price of real estate and provides a varying level of detail about the real 22
estate's condition, market, and neighborhood, and information about sales of 23
comparable real estate; 24
(4) “Classroom hour” means a period of at least fifty (50) 25
minutes, but not more than sixty (60) minutes , of actual classroom 26
instruction with the an instructor present; 27
(5) “Continuing education” means postlicensure education derived 28
from participation in courses in real estate -related subjects that have been 29
approved by the Arkansas Real Estate Commission or that are not required to 30
be approved by the commission; 31
(6) “Continuing education unit” means a period of ten (10) 32
contact hours of actual classroom instruction with the an instructor present; 33
(7)(A) “Executive broker” means an individual who: 34
(i) Has a real estate broker's license; 35
(ii) Is employed by a principal broker or associated 36 HB1558
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with a principal broker as an independent contractor; and 1
(iii) Participates in any activity described in 2
subdivision (10) or subdivision (12) of this section while under the 3
supervision of a principal broker. 4
(B) An executive broker may supervise associate brokers 5
and salespersons; 6
(8)(A) “Licensee” means an individual who holds any type of 7
license issued by the commission. 8
(B) “Licensee” includes a principal broker, an executive 9
broker, an associate broker, and a salesperson, a property management 10
associate, and a property management broker . 11
(C) This chapter does not preclude a licensee from: 12
(i) Doing business as a: 13
(a) Professional corporation under § 4 -29-101 14
et seq.; or 15
(b) Professional limited liability company 16
under § 4-38-1201 et seq.; or 17
(ii) Receiving payment from a real estate firm or 18
principal broker of an earned commission to the licensee's legal business 19
entity if the licensee earned the commission on behalf of the real estate 20
firm or principal broker; 21
(9) “Participate in a real estate auction” means to do any act 22
or conduct for compensation or the expectation of compensation on behalf of a 23
seller at auction and designed, intended, or expected to affect the bidding 24
or results of a real estate auction, including without limitation serving as 25
an auctioneer or ringman or encouraging, soliciting, or receiving bids; 26
(10)(A) “Principal broker” means an individual expecting to act 27
or acting for another for a fee, commission, or other consideration who: 28
(A)(i) Sells, exchanges, purchases, rents, or leases 29
real estate; 30
(B)(ii) Offers to sell, exchange, purchase, rent, or 31
lease real estate; 32
(C)(iii) Negotiates, offers, attempts, or agrees to 33
negotiate the sale, exchange, purchase, rent, or lease of real estate; 34
(D)(iv) Lists, offers, attempts, or agrees to list 35
real estate for sale, lease, or exchange; 36 HB1558
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(E)(v) Auctions, offers, attempts, or agrees to 1
auction real estate, or participates in a real estate auction; 2
(F)(vi) Buys, sells, or assigns or offers to buy, 3
sell, or assign or otherwise deals in options on real estate or improvements 4
to real estate; 5
(G)(vii) Collects, offers, attempts, or agrees to 6
collect rent for the use of real estate; 7
(H)(viii) Advertises or holds himself or herself out 8
as being engaged in the business of buying, selling, exchanging, renting, or 9
leasing real estate; 10
(I)(ix) Assists or directs in the procuring of 11
prospects calculated to result in the sale, exchange, lease, or rent of real 12
estate; 13
(J)(x) Assists or directs in the negotiation of any 14
transaction calculated or intended to result in the sale, exchange, lease, or 15
rent of real estate; 16
(K)(xi) Engages in the business of charging an 17
advance fee in connection with any contract whereby he or she undertakes to 18
promote the sale or lease of real estate either through its listing in a 19
publication issued for such a purpose or for referral of information 20
concerning the real estate to brokers, or both; or 21
(L)(xii) Performs any of the acts described in this 22
subdivision (10) as an employee of or on behalf of the owner of, or any 23
person who has an interest in, real estate ;. 24
(B) A principal broker may perform any act listed in 25
subdivision (12) of this section; 26
(11)(A) “Property management associate” means an individual who 27
has a property management associate license and who is employed by a property 28
management broker, or is associated with a property management broker as an 29
independent contractor, and who participates in an activity described in 30
subdivision (12) of this section while under the supervision of a property 31
management broker. 32
(B) A property management associate shall have no 33
supervisory authority over another licensee; 34
(12) "Property management broker" means an individual licensed 35
under this chapter who for a salary, commission, or compensation of any kind 36 HB1558
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or with the intent or expectation of receiving valuable consideration engages 1
in the business of leasing, renting, or subleasing real estate located in 2
this state on behalf of an owner, lessor, or potential lessee and who: 3
(A) Accepts employment by or on behalf of the owner, 4
lessor, or potential lessee of real estate to promote or conduct the leasing 5
or subleasing of the real estate; 6
(B) Negotiates or attempts to negotiate the lease of real 7
estate located in this state or of the improvements on real estate located in 8
this state; 9
(C) Engages in the business of promoting the lease or 10
rental of real estate located in this state; 11
(D) Assists in completing real estate lease contracts or 12
property management agreements; 13
(E) Procures tenants for owners of real estate located in 14
this state; 15
(F) Aids or offers to aid for a fee a person in locating 16
or obtaining real estate for lease in this state; 17
(G) Makes the advertising of real property for lease 18
available by public display to potential tenants; 19
(H) Shows rental or leased properties to potential 20
tenants; 21
(I) In conjunction with property management 22
responsibilities, acts as a liaison between the owners of real estate and a 23
tenant or potential tenant; 24
(J) In conjunction with property management 25
responsibilities, generally oversees the inspection, maintenance, and upkeep 26
of leased real estate belonging to others; 27
(K) In conjunction with property management 28
responsibilities, collects rents or attempts to collect rents for real estate 29
located in this state; 30
(L) Pays a fee, commission, or other compensation to a 31
licensed broker, salesperson, or property manager for referral of the name of 32
a prospective lessor or lessee of real property; 33
(M) Receives a fee, commission, or other compensation from 34
a licensed real estate broker, salesperson, or property management broker for 35
referring the name of a prospective lessor or lessee of real property; or 36 HB1558
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(N) Advertises or represents to the public that the 1
individual is engaged in any of the activities referred to in this 2
subdivision (12); 3
(11)(A)(13)(A) “Real estate” means an interest in real property. 4
(B) “Real estate” includes without limitation a leasehold, 5
time-share interval, or an interest in real property that is purchased or 6
sold in connection with the purchase or sale of all or part of the assets, 7
stock, or other ownership interest of a business or other organization; 8
(14) “Real estate broker” means a principal broker, an executive 9
broker, or an associate broker; 10
(12)(15) “Salesperson” means an individual who: 11
(A) Has a salesperson's license; 12
(B) Is employed by a principal broker or is associated 13
with a principal broker as an independent contractor; and 14
(C) Participates in any activity described in subdivision 15
(10) or subdivision (12) of this section while under the supervision of a 16
principal broker or executive broker; and 17
(13)(16) “Unlicensed real estate activity” means offering or 18
engaging in any practice, act, or operation set forth in subdivision (10) or 19
subdivision (12) of this section without a valid active Arkansas license 20
issued by the commission. 21
22
SECTION 3. Arkansas Code § 17 -42-104(a)(6), concerning exemptions to 23
Real Estate License Law, is amended to read as follows: 24
(6) A person other than a property management associate employed 25
only at a salaried or hourly rate to engage in the leasing of real property 26
estate for or on behalf of a licensed principal broker, the real estate firm 27
of a licensed principal broker, a licensed property management broker, or an 28
owner of real estate, if the person: 29
(A) Does not otherwise engage in or offer to perform any 30
practice, act, or operation set forth in § 17-42-103(10) or § 17-42-103(12) 31
other than receiving a security deposit or payment as permitted by 32
subdivision (a)(6)(B)(iii) of this section; and 33
(B) Performs only one (1) or more of the following 34
functions: 35
(i) Delivering a lease application, lease, or an 36 HB1558
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amendment to a lease application or lease to any person; 1
(ii) Receiving a lease application, lease, or an 2
amendment to a lease application for delivery to the principal broker, real 3
estate firm, property management broker, or owner; 4
(iii) Receiving a security deposit, rental payment, 5
or any related payment for delivery to and made payable to the principal 6
broker, real estate firm, property management broker, or owner; 7
(iv) Acting under the direct written instructions of 8
the principal broker, real estate firm, property management broker, or owner: 9
(a) Showing a rental unit to any person; or 10
(b) Assisting in the execution of a preprinted 11
lease or rental agreement containing terms established by the principal 12
broker, real estate firm, property management broker, or owner; or 13
(v) Conveying information prepared by the principal 14
broker, real estate firm, property management broker, or owner about a lease 15
application, lease, the status of a security deposit, or the payment of rent 16
to or from any person; 17
18
SECTION 4. Arkansas Code § 17 -42-107(a), concerning the capacity to 19
sue and be sued under the Real Estate License Law, is amended to read as 20
follows: 21
(a) An action or suit shall not be instituted, nor recovery be had, in 22
any court of this state by any person or other legal entity for compensation 23
for performance of any acts described in § 17 -42-103(10) or § 17-42-103(12) 24
unless at the time of offering to perform and performing any such act or 25
procuring any promise to contract for the payment of compensation for any 26
such contemplated act: 27
(1) The person holds an active license under this chapter as a 28
principal broker; or 29
(2) The person or other legal entity was the owner of the real 30
estate firm that contracted for or otherwise performed the acts for the 31
compensation that is the subject of the action or suit through either a 32
principal broker or a person approved by the Arkansas Real Estate Commission 33
under § 17-42-301(f) while licensed or approved by the commission at the time 34
of the acts; 35
(3) The person holds an active license under this chapter as a 36 HB1558
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property management broker; or 1
(4) The person or other legal entity was the owner of the 2
property management firm that contracted for or otherwise performed the acts 3
for the compensation that is the subject of the action or suit through either 4
a property management broker or a person approved by the commission under § 5
17-42-301(h) while licensed or approved by the commission at the time of the 6
acts. 7
8
SECTION 5. Arkansas Code § 17 -42-109(b), concerning civil penalties 9
for engaging in unlicensed real estate activity, is amended to read as 10
follows: 11
(b) The fact that a person offers to engage in or offers to perform 12
any practice, act, or operation set forth in § 17 -42-103(10) or § 17-42-13
103(12) without a the appropriate license is prima facie evidence that the 14
person is engaged in unlicensed real estate activity. 15
16
SECTION 6. Arkansas Code § 17 -42-110(a), concerning the authority to 17
issue broker's price opinions, is amended to read as follows: 18
(a) A licensee real estate broker or salesperson may prepare, provide, 19
and collect a fee for issuing a broker's price opinion for: 20
(1) An existing or potential seller for the purposes of listing 21
and selling real estate; 22
(2) An existing or potential buyer of real estate; 23
(3) A third party making decisions or performing due diligence 24
related to the potential listing, offering, sale, exchange, option, lease, or 25
acquisition price of real estate; or 26
(4)(A) An existing or potential lienholder. 27
(B) However, a broker's price opinion prepared for an 28
existing or potential lienholder in conjunction with the purchase of a 29
buyer's principal residence shall not be used as the primary basis to 30
determine the value of the buyer's principal residence for the purpose of a 31
loan origination of a residential mortgage loan secured by the buyer's 32
principal residence. 33
34
SECTION 7. Arkansas Code Title 17, Chapter 42, Subchapter 1, is 35
amended to add an additional section to read as follows: 36 HB1558
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17-42-111. Rules. 1
The Arkansas Real Estate Commission shall promulgate rules to implement 2
this act. 3
4
SECTION 8. Arkansas Code § 17 -42-203(e), concerning the powers and 5
duties of the Arkansas Real Estate Commission, is amended to add an 6
additional subdivision to read as follows: 7
(3) Shall post prominently on the commission's website a link 8
entitled “Property Management Licensee Information” that leads directly to 9
information that is helpful to existing and prospective property management 10
brokers and property management associates, including without limitation: 11
(A) Application and renewal requirements, procedures, 12
forms, deadlines, and related information; 13
(B) Commission-sponsored educational courses and materials 14
and other educational courses and materials; and 15
(C) Links to websites containing industry standards and 16
best practices. 17
18
SECTION 9. Arkansas Code § 17 -42-301(a) and (b), concerning licenses 19
required by the Arkansas Real Estate Commission and violations of the Real 20
Estate License Law, are amended to read as follows: 21
(a) No A person shall not practice or represent himself or herself as 22
a real estate broker, property management associate, property management 23
broker, or salesperson without first applying for and receiving a the 24
appropriate license to practice under this chapter. 25
(b) Any person who directly or indirectly for another with the 26
intention, or on the promise of receiving any valuable consideration, offers, 27
attempts, or agrees to perform any single act described in § 17-42-103(10) or 28
§ 17-42-103(12), whether as part of a transaction or as an entire 29
transaction, shall be deemed a broker, property management associate, 30
property management broker, or salesperson within the meaning of this 31
chapter. 32
33
SECTION 10. Arkansas Code § 17 -42-301(d), concerning license required 34
by the Arkansas Real Estate Commission and violations of the Real Estate 35
License Law, is amended to read as follows: 36 HB1558
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(d) It shall be unlawful for any person, directly or indirectly, to 1
act as a real estate broker, property management associate, property 2
management broker, or salesperson without first obtaining a the appropriate 3
license and otherwise complying with the provisions of this chapter. 4
5
SECTION 11. Arkansas Code § 17 -42-301(e), concerning licenses required 6
by the Arkansas Real Estate Commission and violations of the Real Estate 7
License Law, is amended to read as follows: 8
(e)(1) Notwithstanding the provisions of this section, a person or 9
other legal entity not licensed by the Arkansas Real Estate Commission may 10
own a real estate firm, provided the employees or agents employed by or 11
associated with the firm who perform real estate activities identified under 12
§ 17-42-103(10) or § 17-42-103(12) hold an active license under this chapter. 13
(2) The firm may enter into contracts or otherwise perform 14
activities identified under § 17 -42-103(10) or § 17-42-103(12) only through a 15
principal broker and a licensee employed by or associated with the principal 16
broker that holds an active license issued by the commission at the time of 17
performing the contract or activities. 18
19
SECTION 12. Arkansas Code § 17 -42-301, concerning licenses required by 20
the Arkansas Real Estate Commission and violations of the Real Estate License 21
Law, is amended to add additional subsections to read as follows: 22
(g)(1) Notwithstanding the provisions of this section, a person or 23
other legal entity not licensed by the commission may own a property 24
management firm, provided the employees or agents employed by or associated 25
with the firm who perform property management activities identified under § 26
17-42-103(12) hold an active license under this chapter. 27
(2) A firm under subdivision (g)(1) of this section may enter 28
into contracts or otherwise perform activities identified under § 17-42-29
103(12) only through a property management broker or a licensee employed by 30
or associated with the property management broker who holds an active license 31
issued by the commission at the time of performing the contract or 32
activities. 33
(h) The commission may provide for the continuing temporary operation 34
of a property management firm having all rights under § 17-42-107(a) upon the 35
death, resignation, termination, or incapacity of the property management 36 HB1558
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broker or upon the closing of a property management firm, under the direction 1
of a person approved by the commission, subject to time limitations and other 2
conditions imposed by the commission. 3
4
SECTION 13. Arkansas Code § 17 -42-303 is amended to read as follows: 5
17-42-303. Education and experience requirements. 6
(a) The Arkansas Real Estate Commission shall establish education 7
requirements for licensure, including the standards and procedures for 8
approval of education programs, subject to the following conditions: 9
(1)(A) The most education hours required of an applicant for a 10
real estate broker's license shall not exceed one hundred twenty (120) hours 11
within the thirty-six (36) months immediately preceding the date of 12
application. and shall include 13
(B) Effective on May 1, 2014, an applicant for a broker's 14
license shall complete at least forty-five (45) of the required education 15
hours in a course developed by the commission; and 16
(2) The maximum number of education hours required of an 17
applicant for a salesperson's license shall not exceed ninety (90) hours, at 18
least thirty (30) hours of which shall be in the basic principles of real 19
estate.; 20
(3) The education hours required of an applicant for a property 21
management broker’s license shall not exceed sixty (60) hours and shall 22
include property management principles and practices, including without 23
limitation: 24
(A) Thirty (30) hours consisting of the following topics: 25
(i) Landlord-tenant law; 26
(ii) Federal and state fair housing laws; 27
(iii) The Americans with Disabilities Act of 1990, 28
42 U.S.C. § 12101 et seq; 29
(iv) State licensing law and rules; 30
(v) Trust accounts; 31
(vi) Accounting procedures and recordkeeping; 32
(vii) Contract law; and 33
(viii) Agency and disclosure; and 34
(B) Thirty (30) hours of commission property management 35
supervision best practices; and 36 HB1558
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(4) The education hours required of an applicant for a property 1
management associate’s license shall not exceed thirty (30) hours and shall 2
include property management principles and practices, including without 3
limitation: 4
(A) Landlord-tenant law; 5
(B) Federal and state fair housing laws; 6
(C) The Americans with Disabilities Act of 1990, 42 U.S.C. 7
§ 12101 et seq; 8
(D) State licensing law and rules; 9
(E) Trust accounts; 10
(F) Accounting procedures and recordkeeping; 11
(G) Contract law; and 12
(H) Agency and disclosure. 13
(b)(1) The commission shall establish the experience requirement for 14
licensure for an applicant for a real estate broker's license subject to the 15
condition of serving an active, bona fide apprenticeship by holding a valid 16
salesperson's license issued by the commission or by holding a valid 17
salesperson's license or real estate broker's license issued by the 18
appropriate licensing agency of another state for a period of not less than 19
twenty-four (24) months within the previous forty -eight-month period 20
immediately preceding the date of application. 21
(2) However, the commission may waive the experience requirement 22
for a real estate broker applicant who has held an active real estate 23
broker's license for a period of not less than eighteen (18) months or who 24
has experience acceptable to the commission in a field considered real 25
estate-related for a period of not less than twenty -four (24) months within 26
the previous forty-eight-month period immediately preceding the date of 27
application. 28
(3) The experience requirement for licensure for an applicant 29
for a property management broker license shall be any combination of: 30
(A) Two (2) years of experience as a licensed property 31
management associate; 32
(B) Two (2) years of experience managing not less than 33
seven (7) residential or commercial units; or 34
(C) A total of two (2) years of a combination of the 35
experience in subdivisions (b)(3)(A) and (b)(3)(B) of this section. 36 HB1558
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(c)(1) The commission shall establish a post -licensure education 1
requirement for individuals in their first year six (6) months of licensure 2
as salespersons, property management associates, property management brokers, 3
or real estate brokers. 4
(2) The commission shall not require more than thirty (30) 5
classroom hours of post -licensure education hours under subsection (c)(1) of 6
this section. 7
8
SECTION 14. Arkansas Code § 17 -42-304 is amended to read as follows: 9
17-42-304. Fees. 10
The Arkansas Real Estate Commission shall have authority to establish, 11
charge, and collect the following fees: 12
(1) An application fee not to exceed fifty dollars ($50.00); 13
(2) An original real estate broker's license fee not to exceed 14
eighty dollars ($80.00); 15
(3) A real estate broker's license annual renewal fee not to 16
exceed eighty dollars ($80.00); 17
(4) An original salesperson's license fee not to exceed sixty 18
dollars ($60.00); 19
(5) A salesperson's license annual renewal fee not to exceed 20
sixty dollars ($60.00); 21
(6) A real estate broker's expired license fee not to exceed one 22
hundred ten dollars ($110) per year or fraction thereof; 23
(7) A salesperson's expired license fee not to exceed eighty 24
dollars ($80.00) per year or fraction thereof; 25
(8) An original property management broker license fee not to 26
exceed eighty dollars ($80.00); 27
(9) A property management broker license annual renewal fee not 28
to exceed eighty dollars ($80.00); 29
(10) A property management broker expired license fee not to 30
exceed one hundred ten dollars ($110.00) per year or fraction thereof; 31
(11) An original property management associate license fee not 32
to exceed sixty dollars ($60.00); 33
(12) A property management associate annual renewal fee not to 34
exceed sixty dollars ($60.00); 35
(13) A property management associate expired license fee not to 36 HB1558
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exceed eighty dollars ($80.00); 1
(14) A license reissuance fee not to exceed thirty dollars 2
($30.00); 3
(9)(15) An initial duplicate license fee not to exceed thirty 4
dollars ($30.00); 5
(10)(16) A duplicate license annual renewal fee not to exceed 6
thirty dollars ($30.00); 7
(11)(17) A transfer fee not to exceed thirty dollars ($30.00); 8
(12)(A)(18)(A) An examination fee not to exceed seventy -five 9
dollars ($75.00). 10
(B) However, the commission at its discretion may direct 11
each applicant to pay the actual costs of the examination fee directly to a 12
testing service engaged by the commission to administer the examination; 13
(13)(19) Pursuant to § 17-42-313, an appeal filing fee not to 14
exceed one hundred dollars ($100); 15
(14)(20) A Real Estate Recovery Fund fee not to exceed twenty -16
five dollars ($25.00); and 17
(15)(21) The actual cost of a state and federal criminal history 18
background check. 19
20
SECTION 15. Arkansas Code § 17 -42-306 is amended to read as follows: 21
17-42-306. Application procedure — Licensing examination required. 22
(a)(1) Applications for licensure shall be submitted on forms provided 23
by the Arkansas Real Estate Commission. 24
(2) The commission may require any information and documentation 25
needed to determine if the applicant meets the criteria for licensure as 26
provided in this chapter. 27
(3) Each applicant shall pay an application fee and examination 28
fee as the commission may require under § 17 -42-304. 29
(4)(A) Applicants that have provided all required information 30
and documentation to the commission may sit for the licensing examination, if 31
a request has been sent to the Identification Bureau of the Department 32
Division of Arkansas State Police for a state and federal criminal background 33
check. 34
(B) A real estate license shall not be issued until the 35
applicant has successfully completed the licensing examination and the 36 HB1558
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commission receives and approves the state and federal criminal background 1
check. 2
(b)(1)(A) An applicant who successfully completes the licensing 3
examination shall pay, within ninety (90) days from the date of the licensing 4
examination, such license fee and Real Estate Recovery Fund fee as the 5
commission may require under § 17 -42-304. 6
(B)(i) If the federal criminal background check has not 7
been received by the commission within ninety (90) days of the date of the 8
licensing examination, the date may be extended by the commission until 9
receipt of the federal criminal background check. 10
(ii) A real estate license shall not be issued until 11
receipt and approval by the commission of the state and federal criminal 12
background checks. 13
(2) The applicant's failure to pay the license fee and Real 14
Estate Recovery Fund fee within the ninety -day period under subdivision 15
(b)(1)(A) of this section shall invalidate the licensing examination results, 16
and the applicant shall be required to make new application and retake the 17
licensing examination as an original applicant. 18
19
SECTION 16. Arkansas Code § 17 -42-307(b)(4), concerning license 20
expiration and renewal under the Real Estate License Law, is amended to read 21
as follows: 22
(4) Effective September 30, 2019, the The commission may 23
promulgate rules to add additional hours of continuing education to the 24
annual amount required under subdivision (b)(1)(A) of this section with no 25
statutory maximum for hours of continuing education. 26
27
SECTION 17. Arkansas Code § 17 -42-307(c)-(f), concerning license 28
expiration and renewal under the Real Estate License Law, are amended to read 29
as follows: 30
(c)(1) A property management broker or property management associate 31
shall complete annually: 32
(A) Not less than six (6) hours nor more than seven (7) 33
classroom hours of continuing education required by the commission, with at 34
least one (1) classroom hour focusing on safety; 35
(B) The distance education equivalent of subdivision 36 HB1558
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(c)(1)(A) of this section required by the commission; or 1
(C) A course that the commission has determined to 2
demonstrate mastery of an acceptable property management subject. 3
(2) A licensee who satisfies subdivision (c)(1) of this section 4
completes the continuing education requirements for the licensing year. 5
(3) If a licensee files for renewal of a license but fails to 6
provide proof of continuing education, the licensee's license is inactive 7
until proof is provided to the commission. 8
(d)(1) To renew or reactivate a license, a licensee shall complete the 9
number of classroom hours of continuing education or the distance education 10
equivalent of continuing education required by the commission for each 11
inactive year not to exceed a total of thirty (30) classroom hours. 12
(2) Except as provided in subdivision (c)(1)(d)(1) of this 13
section, a person is not subject to the education requirements of this 14
section while the person's license is inactive. 15
(3) The commission may waive all or part of the requirements of 16
subdivision (c)(1)(d)(1) of this section if a licensee is unable to complete 17
the continuing education due to extenuating circumstances. 18
(d)(1)(e)(1) For each active licensee, the commission shall issue a 19
new license for each ensuing renewal period in the absence of a reason or 20
condition that may warrant the refusal of a license, upon receipt of the: 21
(A) Written request for license renewal at least ninety 22
(90) days before the expiration of the license upon forms provided by the 23
commission; and 24
(B) Renewal fee. 25
(2)(A) A broker, or salesperson, property management associate, 26
or property management broker who does not wish to engage in the real estate 27
or property management business may renew a license on inactive status in the 28
absence of a reason or condition that may warrant the refusal of a license 29
upon receipt of the: 30
(i) Written request of the applicant at least ninety 31
(90) days before the expiration of the license upon forms provided by the 32
commission; and 33
(ii) Renewal fee. 34
(B) The commission may limit the number of renewal periods 35
in which a license may be renewed on inactive status. 36 HB1558
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(C) The renewal fee for inactive status is the same as for 1
renewal of an active license. 2
(3) An application for renewal filed after the date established 3
by the commission to renew a license is treated as an application to renew an 4
expired license. 5
(e)(f) If a person to whom a valid license has been issued permits the 6
license to expire for a period not in excess of that established by the 7
commission, the commission shall issue to the person a current license 8
without requiring the person to submit to an examination if the person 9
furnishes the information required by the commission, including proof of 10
completion of appropriate continuing education requirements, and pays the fee 11
required by the commission. 12
(f)(1)(g)(1) New salesperson, property management associate, property 13
management broker, and real estate broker licensees shall complete post -14
licensure education under § 17 -42-303(c). 15
(2) If the licensee fails to complete the post -licensure 16
education requirements within twelve (12) six (6) months after the date the 17
license was issued, the commission shall place the license on inactive status 18
until the commission receives documentation that the licensee has completed 19
the post-licensure education requirements. 20
21
SECTION 18. Arkansas Code § 17 -42-308(a)(2), concerning an inactive 22
license under the Real Estate License Law, is amended to read as follows: 23
(2) The holder of an inactive license shall not practice as a 24
real estate broker, or salesperson, property management associate, or 25
property management broker in this state without first activating the 26
license. 27
28
SECTION 19. Arkansas Code § 17 -42-309, concerning a place of business, 29
is amended to add additional subsections to read as follows: 30
(c) Every property management broker shall maintain a place of 31
business and shall display a sign that is permanently attached to the 32
building bearing the name under which the property management broker conducts 33
his or her property management business and the words “property management”, 34
“rentals”, “leasing”, or other words approved by the commission that clearly 35
indicate to the public that the property management broker is engaged in the 36 HB1558
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property management business. 1
(d)(1) If a property management broker maintains a branch office, a 2
duplicate license shall be issued upon payment by the property management 3
broker of the initial fee and, thereafter, such renewal fee as the commission 4
may require under § 17 -42-304. 5
(2) However, a duplicate license shall not be issued for a 6
branch office at which property management associates are assigned unless the 7
property management broker establishing the branch office has designated 8
another property management broker with the firm to supervise the property 9
management associates. 10
11
SECTION 20. Arkansas Code § 17 -42-310(c)–(e), concerning the names and 12
affiliations of licensees under the Real Estate License Law, are amended to 13
read as follows: 14
(c) The licenses of the principal broker or property management broker 15
and all licensees employed by or associated with him or her shall be retained 16
by the principal broker or property management broker and conspicuously 17
displayed in his or her place of business. 18
(d)(1) Upon the termination of a licensee's employment by or 19
association with a principal broker or property management broker , the 20
licensee shall promptly deliver his or her pocket card to the principal 21
broker or property management broker , and the principal broker or property 22
management broker shall promptly notify the commission of the termination and 23
return to the commission the license and pocket card of the terminated 24
licensee, which shall automatically inactivate the license. 25
(2) If the pocket card is unavailable, the principal broker or 26
property management broker shall promptly so notify the commission in 27
writing. 28
(e) A license inactivated under this section may be transferred to 29
another principal broker or property management broker upon application of 30
the licensee, payment of the relevant fee, and submission of a statement that 31
he or she is not taking any listings, management contracts, appraisals, lease 32
agreements, or copies of any such documents or any other pertinent 33
information belonging to the licensee’s previous principal broker , property 34
management broker, or firm. 35
36 HB1558
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SECTION 21. Arkansas Code § 17 -42-311(a)(9)–(13), concerning 1
violations under the Real Estate License Law, are amended to read as follows: 2
(9) Acting as a broker or, salesperson, property management 3
associate, or property management broker while not licensed with a principal 4
broker or property management broker , representing or attempting to represent 5
a broker other than the principal broker or property management broker with 6
whom he or she is affiliated without the express knowledge and consent of the 7
principal broker or property management broker , or representing himself or 8
herself as a salesperson or having a contractual relationship similar to that 9
of a salesperson with anyone other than a licensed principal broker , or 10
representing himself or herself as a property management associate or having 11
a contractual relationship similar to that of a property management associate 12
with anyone other than a licensed property management broker ; 13
(10) Advertising in a false, misleading, or deceptive manner; 14
(11) Being unworthy or incompetent to act as a property 15
management associate, property management broker, real estate broker, or 16
salesperson in such a manner as to safeguard the interests of the public; 17
(12) Paying a commission or valuable consideration to any person 18
for acts or services performed in violation of this chapter, including paying 19
a commission or other valuable consideration to an unlicensed person for 20
participation in a real estate auction; and 21
(13) While licensed only as a property management broker or 22
property management associate, participating in or accepting anything of 23
value for the listing, negotiation, or sale of real estate that is not owned 24
by the property management broker or property management associate, including 25
without limitation real estate managed by a property management broker or 26
property management associate; and 27
(14) Any other conduct, whether of the same or a different 28
character from that specified in this section, which constitutes improper, 29
fraudulent, or dishonest dealing. 30
31
SECTION 22. Arkansas Code § 17 -42-312(a)(1), concerning investigation 32
of complaints, citations, and penalties under the Real Estate License Law, is 33
amended to read as follows: 34
(a)(1) The Arkansas Real Estate Commission may, on its own motion, and 35
shall, upon the verified complaint in writing of any person, provided that 36 HB1558
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the complaint and any evidence, documentary or otherwise, presented in 1
connection therewith shall make out a prima facie case, investigate the 2
actions of any person engaged in the business or acting in the capacity of a 3
real estate broker, or real estate salesperson , property management 4
associate, or property management broker regardless of whether the 5
transaction was for his or her own account or in his or her capacity as a 6
broker, or salesperson, property management associate, or property management 7
broker. 8
9
SECTION 23. Arkansas Code § 17 -42-312(d)(1)(A) and (B), concerning 10
investigation of complaints, citations, and penalties under the Real Estate 11
License Law, are amended to read as follows: 12
(A) A penalty of not more than one hundred dollars ($100) 13
to a broker, or salesperson, property management associate, or property 14
management broker who: 15
(i) Fails to complete annual education requirements; 16
or 17
(ii) Fails to complete post -licensure education 18
requirements by the established deadline; or 19
(B) A penalty of not more than two hundred fifty dollars 20
($250) to a broker, salesperson, property management associate, property 21
management broker, or the supervising broker of a broker , or salesperson, or 22
property management broker if a broker, or salesperson, property management 23
associate, or property management broker : 24
(i) Performs activities that require an active real 25
estate license while his or her license is expired; or 26
(ii) Advertises, publishes, or otherwise distributes 27
information about real property , or real estate brokerage , or property 28
management business or activities in violation of this chapter or rules 29
adopted under this chapter. 30
31
SECTION 24. Arkansas Code § 17 -42-313(a), concerning complaints and 32
appeals before the Arkansas Real Estate Commission, is amended to read as 33
follows: 34
(a) Any person whose complaint against a licensed real estate broker , 35
or salesperson, property management associate, or property management broker 36 HB1558
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is dismissed by the Executive Director of the Arkansas Real Estate Commission 1
without a hearing may appeal the dismissal to the Arkansas Real Estate 2
Commission subject to and in accordance with the following provisions: 3
(1) The request for appeal must be in writing and received in 4
the office of the commission not later than sixty (60) days following the 5
date of dismissal by the executive director; 6
(2) The request for appeal must be accompanied by such filing 7
fee as the commission may require pursuant to § 17 -42-304; and 8
(3)(A)(i) The appellant must also pay the cost of preparing the 9
record for the commission's review, which cost shall be determined by the 10
commission. 11
(ii)(a) The costs must be paid by the appellant 12
within thirty (30) days after notification of the amount. 13
(b) Otherwise, the appeal shall be dismissed. 14
(B) However, if the commission's review results in a 15
hearing being ordered on the complaint, both the filing fee and the cost of 16
preparing the record shall be refunded to the appellant. 17
(C) Any person who is indigent and unable to pay either 18
the filing fee or the cost of the record, or both, may file a pauper's oath 19
in such form as required by the commission, and, if the commission determines 20
that the appellant is indeed indigent, the filing fee or cost of the record, 21
or both, shall be waived. 22
23
SECTION 25. Arkansas Code § 17 -42-314(b), concerning hearings under 24
the Real Estate License Law, is amended to read as follows: 25
(b) Except in cases in which a licensee has obtained a license by 26
false or fraudulent representation, the Arkansas Real Estate Commission shall 27
not investigate the actions of or conduct any disciplinary hearing regarding 28
any real estate broker , or salesperson, property management associate, or 29
property management broker unless the complaint is filed or the investigation 30
initiated within three (3) years from the date of the actions complained of 31
or concerning which an investigation is initiated. 32
33
SECTION 26. Arkansas Code § 17 -42-501 is amended as follows: 34
17-42-501. Real estate education program. 35
(a) The Arkansas Real Estate Commission shall establish an education 36 HB1558
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program for real estate brokers, salespersons, and property management 1
licensees to ensure that education is available and accessible to an 2
applicant or a licensee. 3
(b) The education program is intended to fulfill the education 4
requirements for a real estate broker, salesperson, or property management 5
license and to provide real estate and property management courses intended 6
to fulfill the education requirements for a real estate broker, salesperson, 7
or property management license. 8
9
SECTION 27. Arkansas Code § 17 -42-502(3)-(5), concerning definitions 10
under the education programs of the Real Estate License Law, are amended to 11
read as follows: 12
(3) "Approved course" means a course of instruction approved by 13
the commission that satisfies the education requirements for prelicense 14
education, postlicense education, or continuing education for a real estate 15
license issued by the commission ; 16
(4) "Associate instructor" means a person who is licensed by the 17
commission to teach real estate or property management courses while under 18
the supervision of an administrator or principal instructor that satisfy the 19
education requirements for a real estate license issued by the commission ; 20
(5) "Association license" means a license granted by the 21
commission to a real estate trade or professional association offering 22
approved education that satisfies education requirements for a real estate 23
license issued by the commission ; 24
25
SECTION 28. Arkansas Code § 17 -42-502(12)-(14), concerning definitions 26
under the education programs of the Real Estate License Law, are amended to 27
read as follows: 28
(12) "Nonqualified offering" means a course in real estate 29
education that has not been approved by the commission but is offered to 30
persons intending to apply for a real estate license issued by the 31
commission; 32
(13) “Postlicense education” means real estate or property 33
management education required to be successfully completed within a time 34
frame established by the commission after a real estate or property 35
management license is issued; 36 HB1558
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(14) “Prelicense education” means real estate or property 1
management education required to be successfully completed by an applicant 2
before sitting for the examination for a broker or salesperson license issued 3
by the commission; 4
5
SECTION 29. Arkansas Code § 17 -42-502(15)(B)(iv) and (v), concerning 6
definitions under the education programs of the Real Estate License Law, are 7
amended to read as follows: 8
(iv) Advertise as being engaged in the business of 9
offering real estate or property management education courses; and 10
(v) Charge tuition and fees for real estate or 11
property management education courses; 12
13
SECTION 30. Arkansas Code § 17 -42-502(17) and (18), concerning 14
definitions under the education programs of the Real Estate License Law, are 15
amended to read as follows: 16
(17) "School license" means a license granted by the commission 17
to a proprietary education institution offering education courses approved by 18
the commission that fulfill mandatory education requirements for attaining or 19
maintaining a real estate license issued by the commission ; and 20
(18) "Student" means an applicant or licensee who attends real 21
estate or property management education courses approved by the commission. 22
23
SECTION 31. Arkansas Code § 17 -42-503(b), concerning exemptions to the 24
course approval authority of the Arkansas Real Estate Commission, is amended 25
to read as follows: 26
(b) The requirement for course approval by the Arkansas Real Estate 27
Commission under this subchapter does not apply to: 28
(1) A classroom course in a real estate -related subject 29
identified by the commission as an approved topic if it is offered by the 30
National Association of Realtors, the National Association of Real Estate 31
Brokers, or other associated entities; 32
(2) A course of at least three (3) semester hours or equivalent 33
in a real estate or property management subject that is approved by the 34
commission and offered by an accredited college or university; 35
(3) A course in a property management or real estate-related 36 HB1558
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subject offered by the commission; 1
(4) A course or a conference in a property management or real 2
estate-related subject approved by the commission and offered annually on a 3
limited basis in Arkansas; or 4
(5) A course that is not used to fulfill the education 5
requirements of this subchapter for attaining a real estate or property 6
management license. 7
8
SECTION 32. Arkansas Code § 17 -42-504(c), concerning requirements to 9
provide real estate education courses under the Real Estate License Law, is 10
amended to read as follows: 11
(c)(1) On and after June 1, 2026, a person shall not practice as a 12
provider of property management education for property management licensure 13
unless the commission approves that education practitioner as a subject 14
matter expert in the field of property management or that person holds a 15
property management broker license issued by the commission. 16
(d) A person or school shall not represent that an offered property 17
management course satisfies the education requirements for property 18
management licensure unless the course is approved by the commission. 19
(e)(1) It is a violation of this subchapter to fail to obtain: 20
(A) A license to practice as a provider of real estate 21
education for real estate licensure; or 22
(B) Approval for a real estate education course by the 23
commission; 24
(C) A license to practice as a provider of property 25
management education for property management licensure; or 26
(D) Approval for a property management education course by 27
the commission. 28
(2) A real estate or property management education course 29
offered in violation of this subchapter is a nonqualified offering. 30
31
SECTION 33. Arkansas Code § 17 -42-506 is amended to read as follows: 32
17-42-506. Powers and duties. 33
(a) The Arkansas Real Estate Commission may adopt rules as necessary 34
to implement this subchapter. 35
(b) The commission shall license, approve, and regulate schools, 36 HB1558
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associations, principal instructors, and associate instructors offering 1
commission-approved prelicense, postlicense, and continuing education courses 2
offered to satisfy education requirements for real estate licensure under 3
this chapter. 4
(c) The commission shall establish the licensing or education 5
requirements for: 6
(1) A school or association that applies for a license to offer 7
real estate courses that satisfy the education requirements for real estate 8
licensure under this chapter; 9
(2) Principal and associate instructors of courses approved by 10
the commission; 11
(3) Courses that satisfy the education requirements for 12
applicants for real estate licensure and under this chapter, real estate 13
licensees, and property management licensees ; and 14
(4) Guest speakers of courses approved by the commission. 15
(d) The commission shall: 16
(1) Establish procedural guidelines for licensed schools and 17
their locations and those providing real estate or property management 18
education designed for students to meet the education requirements for a real 19
estate license or property management license issued by the commission ; 20
(2) Charge fees and pay the necessary expenses to develop, 21
approve, sponsor, contract for, or conduct real estate or property management 22
courses and seminars for real estate or property management licensees or 23
instructors of real estate or property management education; 24
(3) Maintain in electronic format a list of the names of real 25
estate approved schools, associations, administrators, instructors, and 26
courses approved under this subchapter; 27
(4) Publish in electronic format the names of the persons, 28
associations, or schools that have been sanctioned by formal hearing or 29
consent order under this subchapter; 30
(5) Periodically monitor courses offered or taught by the 31
licensed schools and instructors; and 32
(6) Establish course requirements with respect to: 33
(A) Accessibility; 34
(B) Attendance; 35
(C) Satisfactory completion; and 36 HB1558
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(D) Curricula; and 1
(E) Student license or applicant type . 2
3
SECTION 34. Arkansas Code § 17 -42-513(a), concerning the approval of 4
courses and course content by the Arkansas Real Estate Commission, is amended 5
to read as follows: 6
(a) Except for courses exempted in § 17 -42-503(b), a real estate or 7
property management course that is intended to satisfy the education 8
requirements for a real estate or property management license issued by the 9
Arkansas Real Estate Commission shall first be approved by the Arkansas Real 10
Estate Commission commission. 11
12
SECTION 35. Arkansas Code § 17 -42-514(a)(1), concerning curricula 13
required by the Real Estate License Law, is amended to read as follows: 14
(1) Require not less than six (6) nor more than seven (7) 15
classroom hours of continuing education for licensees under § 17-42-307; 16
17
SECTION 36. Arkansas Code § 17 -42-514(a), concerning curricula 18
required by the Real Estate License Law, is amended to add an additional 19
subdivision to read as follows: 20
(6) Develop and require a specific curriculum for continuing 21
education courses for property management associates and property management 22
broker licensees. 23
24
SECTION 37. Arkansas Code § 17 -42-514 is amended to read as follows: 25
17-42-514. Curricula. 26
(a) The Arkansas Real Estate Commission may: 27
(1) Require not less than six (6) nor more than seven (7) 28
classroom hours of continuing education for licensees; 29
(2) Identify subject matter topics for continuing education 30
courses; 31
(3) Identify a specific topic of not more than three (3) 32
classroom hours to be included in the annual continuing education 33
requirement; 34
(4) Develop and require a specific curriculum for continuing 35
education courses for licensed brokers or their designees; and 36 HB1558
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(5) Identify subject matter topics for which licensed schools 1
and instructors may develop courses that fulfill the annual continuing 2
education requirements. 3
(b)(1) The commission may develop the curricula for prelicense and 4
postlicense education. 5
(2) Prelicense and postlicense courses that are intended to 6
satisfy the education requirements for a property management license shall be 7
approved by the commission for participation and attendance by applicants for 8
property management licensure. 9
(3) Prelicense and postlicense courses that are intended to 10
satisfy the education requirements for a real estate license shall only be 11
approved by the commission for participation and attendance by applicants for 12
a real estate license. 13
14
SECTION 38. Arkansas Code § 17 -42-515 is amended to read as follows: 15
17-42-515. Violations. 16
An applicant for a real estate educator license or a licensee under 17
this chapter is subject to disciplinary action under this subchapter if the 18
applicant for a real estate educator license or a licensee pleads guilty or 19
nolo contendere to or is found guilty of any of the following: 20
(1) Obtaining a real estate educator license an instructor 21
license, school license, or real estate education course approval by fraud, 22
misrepresentation, or concealment; 23
(2) Violating this subchapter, the rules adopted by the Arkansas 24
Real Estate Commission, or an order issued by the commission; 25
(3) Committing an act, a felony, or a crime involving moral 26
turpitude, fraud, dishonesty, untruthfulness, or untrustworthiness regardless 27
of whether the imposition of the sentence has been deferred or suspended; 28
(4) Engaging or allowing unlawful discriminatory practices; 29
(5) Violating the requirements of the Americans with 30
Disabilities Act of 1990, 42 U.S.C. § 12101 et seq., regarding access to and 31
delivery of real estate or property management education courses; 32
(6) Issuing or reporting a false certificate of completion for a 33
real estate or property management education course; 34
(7) Teaching a course in a way that instructs licensees to 35
engage in unlawful or noncompliant activities; 36 HB1558
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(8) Failing to monitor attendance of students to ensure 1
satisfactory completion of real estate or property management education 2
courses approved by the commission; 3
(9) Utilizing an instructor or guest speaker who does not meet 4
the requirements of this subchapter; 5
(10) Making a substantial misrepresentation of a material fact 6
to the commission; 7
(11) Advertising in a false, misleading, or deceptive way; 8
(12) Being unworthy or incompetent to act or operate as a real 9
estate education school or association or a real estate educator; or 10
(13) Refusing or failing to make available to the commission for 11
inspection the records required to be maintained by a principal instructor or 12
administrator; 13
(14) Refusing or failing to cooperate with an investigation 14
commenced by the commission under this chapter; or 15
(15) Engaging in other conduct that constitutes improper, 16
fraudulent, or dishonest dealing. 17
18
SECTION 39. TEMPORARY LANGUAGE. DO NOT CODIFY. Change of heading for 19
Title 17, Chapter 42, Subchapter 5. 20
The Code Revisor shall change the heading of Title 17, Chapter 42, 21
Subchapter 5 from “Renewal of Licenses” To “Real Estate and Property 22
Management Education”. 23
24
SECTION 40. DO NOT CODIFY. Rules implementing this act. 25
(a)(1) When adopting the initial rules to implement this act, the 26
final rules shall be filed with the Secretary of State for adoption under § 27
25-15-204(f): 28
(A) On or before June 1, 2026; or 29
(B) If approval under § 10 -3-309 has not occurred by June 30
1, 2026, as soon as practicable after approval under § 10 -3-309. 31
(2) The Arkansas Real Estate Commission shall file the proposed 32
rules with the Legislative Council under § 10 -3-309(c) sufficiently in 33
advance of June 1, 2026, so that the Legislative Council may consider the 34
rule for approval before June 1, 2026. 35
(b)(1) The General Assembly finds that: 36 HB1558
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(A) Each of the existing rules of the commission is 1
necessary for the efficient operation of the commission; and 2
(B) The repeal of any of the commission's rules would 3
cause unnecessary hardship and may render the commission unable to fully 4
discharge its duties and responsibilities. 5
(2) Therefore, it is the intent of the General Assembly that the 6
rules promulgated to implement this act should be exempt from the provision 7
of Executive Order 23 -02 which requires an agency to simultaneously submit 8
two rules for repeal for every one rule presented for rulemaking to a 9
legislative committee of the General Assembly. 10
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