Senate Amendment 3
H 4754 - Session 125 (2023-2024)
Real Estate Associates

Senator Davis proposes the following amendment (LC-4754.AHB0015S):

Amend the bill, as and if amended, SECTION 3, by striking Section 40-57-30(45) and inserting:

(45) "Wholesaling" means having a contractual interest in purchasing residential real estate from a property owner, then marketing the property for sale to a different buyer prior to taking legal ownership of the property. Advertising or marketing real estate owned by another individual or entity with the expectation of compensation falls under the definition of "broker" and requires licensure. "Wholesaling" does not refer to the assigning or offering to assign a contractual right to purchase residential real estate.