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TO AMEND SECTION 40-57-340, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO EXEMPTIONS FROM CONTINUING EDUCATION REQUIREMENTS FOR REAL ESTATE BROKERS AND SALESPERSONS, SO AS TO PROVIDE AN EXEMPTION TO THE BIENNIAL CONTINUING EDUCATION REQUIREMENT FOR BROKERS AND SALESPERSONS WHO HAVE TWENTY-FIVE YEARS OF LICENSURE AND ARE SIXTY-FIVE YEARS OF AGE OR OLDER.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 40-57-340(B) of the 1976 Code is amended to read:
"(B) Exempt from the biennial continuing education required by subsection (A) are a:
(1) salesperson who successfully completes a post-licensing course or takes a broker course is exempt for the renewal period during which the course was taken;
(2) licensee while on inactive status;
(3) nonresident broker or salesperson who has successfully satisfied the continuing education requirements in their jurisdiction of residence may be exempt with approval of the commission; or
(4) broker or salesperson with a minimum of twenty-five years of licensure and who is sixty-five years of age or older may apply to be granted an experience-based partial full continuing education waiver, and upon granting of the waiver, is required to complete only the mandatory four hour core course biennially to maintain active licensure. A broker-in-charge who has been granted a partial continuing education waiver is required to take the four hour core course and the mandated four hour broker-in-charge course biennially.; or
(5) a licensee who previously has been granted a full continuing education waiver by the commission is exempt from the continuing education requirements of this chapter."
SECTION 2. This act takes effect upon approval by the Governor.
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