Bill No.: HB0226                  Drafter:  MRW

LSO No.:  07LSO-0381              Effective Date:  7/1/2007

Enrolled Act No.:  HEA0092

Chapter No.:       171

Prime Sponsor:     Representative Semlek

Catch Title:       Real estate licensing.

Subject:  Real estate licensing.

Summary/Major Elements:

· Under current law, each branch office of a real estate brokerage must be under the direction and supervision of a broker who resides in the community in which the branch office is located. Further a nonresident licensee must obtain a resident license if he desires to maintain a place of business in this state or work with a broker who has a place of business in this state, unless there is reciprocity between the broker's home state and Wyoming.

· This bill:

o Eliminates the residency requirement for brokers to live in the branch office community.

o Repeals the license requirement of requiring a nonresident to maintain a place of business in Wyoming.