Michigan Compiled Laws 299-1980-25 Article 25 (339.2501...339.2518)

• Section 339.2501 Definitions.
  As used in this article: (a) "Employ" or "employment" means the relationship between a real estate broker and an associate broker or a real...
• Section 339.2502 Board Of Real Estate Brokers And Salespersons; Creation.
  The board of real estate brokers and salespersons is created. History: 1980, Act 299, Imd. Eff. Oct. 21, 1980 Popular Name: Act 299
• Section 339.2502a Real Estate Broker, Associate Real Estate Broker, And Real Estate Salesperson; License; Term; Renewal; Relicensure.
  (1) The department shall issue a license for a real estate broker, associate real estate broker, and real estate salesperson for a term of...
• Section 339.2503 Exemptions; Definition.
  (1) This article shall not apply to an individual, partnership, association, or corporation, who as owner, sells or offers for sale a detached, single...
• Section 339.2504 Real Estate Broker's License; Requirements; Renewal Or Reinstatement Of License; Prelicensure Classroom Courses; Suspension Or Revocation Of Approval; Prohibited Representations; Conduct Of Prelicensure Course; Violation Of Subsection (4); Penalties; Real Estate Clinic, Meeting, Course, Or Institute; Sponsoring Studies, Research, And Programs.
  (1) Both of the following must be met before an applicant receives a real estate broker's license under this article: (a) The applicant must...
• Section 339.2504a Continuing Education.
  (1) Within each 3-year license cycle, a licensee shall successfully complete at least 18 clock hours of continuing education courses that involve any subjects...
• Section 339.2505 Real Estate Broker's License; Application; Contents; Execution Of Application; Effect Of Certain Convictions; Place Of Business; Branch Office License; Contents Of Application For Salesperson's License; Proof; Examinations.
  (1) An applicant for a real estate broker's license shall file an application setting forth the applicant's present address, both of business and residence;...
• Section 339.2506 Delivering Or Mailing Real Estate Salesperson's License To Broker; Custody And Control Of Licenses; Notice Of Change Of Location; "Pocket Card" Defined.
  (1) The department shall deliver or mail the license of a real estate salesperson to the real estate broker that employs the real estate...
• Section 339.2507 Discharge Or Termination Of Real Estate Salesperson; Delivering Or Mailing Salesperson's License To Department; Application For Transfer Of License; Communication; Performing Regulated Acts Without License Prohibited.
  If a real estate salesperson is discharged or terminates employment with a real estate broker by giving the employer a written notice of the...
• Section 339.2508 Real Estate Broker's License; Entities To Which Issued; Authorized Acts; Associate Real Estate Broker's License; Transferability; Suspension; Issuance Of New License; Death Or Disability Of Sole Principal Associate Broker.
  (1) The department may issue a real estate broker's license to an individual, sole proprietorship, partnership, association, corporation, limited liability company, common law trust,...
• Section 339.2509 Associate Real Estate Broker's License; Issuance To Principal And Nonprincipal; Limitation; Definitions.
  (1) A principal may be issued more than 1 associate real estate broker's license. (2) A nonprincipal shall not be issued more than 1...
• Section 339.2510 Real Estate Salesperson; Commission Or Valuable Consideration.
  A real estate salesperson shall not accept from a person other than the real estate salesperson's employer a commission or valuable consideration for the...
• Section 339.2511 Plan Or Scheme For Selling Or Promoting Sale Of Real Estate.
  A plan or scheme involving a lottery, contest, game, prize, or drawing shall not be used by a real estate broker or real estate...
• Section 339.2512 Prohibited Conduct; Penalties.
  A licensee who commits 1 or more of the following is subject to the penalties set forth in article 6: (a) Except in a...
• Section 339.2512a Action For Collection Of Compensation For Performance Of Act Or Contract; Allegation And Proof.
  A person engaged in the business of, or acting in the capacity of, a person required to be licensed under this article, shall not...
• Section 339.2512b Actions Not Constituting Participation In Real Estate Transaction Or In Payment Of Real Estate Commissions.
  The following actions do not constitute participation in a real estate transaction or in the payment of real estate commissions: (a) As an owner...
• Section 339.2512c Property Management Performed By Real Estate Broker.
  (1) Except as otherwise provided in this section, all property management duties, responsibilities, and activities performed by a real estate broker and his or...
• Section 339.2512d Service Provision Agreement; Conduct By Real Estate Broker Or Real Estate Salesperson; Services; Misleading Public Prohibited; Waiver Of Services In Limited Service Agreement.
  (1) A real estate broker or real estate salesperson acting pursuant to a service provision agreement shall perform the duties imposed in subsection (2)....
• Section 339.2513 Filing Bond Or Posting Cash Deposit As Condition Precedent To Issuance Of License Or Removal Of Suspension; Action By Injured Person.
  If an application for a license is made by a person whose license has been denied, suspended, or revoked as a result of disciplinary...
• Section 339.2514 Real Estate Broker Or Real Estate Salesperson; Nonresident Applicant; Consent To Service Of Process; Application; Disposition Of Process Or Pleading.
  A nonresident of this state may become a real estate broker or a real estate salesperson by conforming to the requirements of this article....
• Section 339.2515 Listing Agreement; Discrimination Prohibited; Burden Of Proof; Legal And Equitable Remedies.
  (1) A listing agreement entered into between the broker and seller or lessor of property shall contain language that discrimination because of religion, race,...
• Section 339.2516 Repealed. 1981, Act 83, Imd. Eff. July 1, 1981.
  Compiler's Notes: The repealed section pertained to renewal fee for license.Popular Name: Act 299
• Section 339.2517 Disclosure Of Agency Relationship.
  (1) A licensee shall disclose to a potential buyer or seller in a real estate transaction all types of agency relationships available and the...
• Section 339.2518 Prohibited Actions.
  An action shall not be brought against a real estate broker, an associate broker, or a real estate salesperson under the following circumstances: (a)...

Last modified: October 10, 2016