North Carolina General Statutes Chapter 93A Real Estate License Law

Article 1 - Real Estate Brokers and Salespersons.

N.C. Gen. Stat. § 93A-1. License required of real estate brokers
From and after July 1, 1957, it shall be unlawful for any person, partnership, corporation, limited liability company, association, or other business entity in...
N.C. Gen. Stat. § 93A-2. Definitions and exceptions
(a) A real estate broker within the meaning of this Chapter is any person, partnership, corporation, limited liability company, association, or other business entity...
N.C. Gen. Stat. § 93A-3. Commission created; compensation; organization
(a) There is hereby created the North Carolina Real Estate Commission, hereinafter called the Commission. The Commission shall consist of nine members, seven members...
N.C. Gen. Stat. § 93A-4. Applications for licenses; fees; qualifications; examinations; privilege licenses; renewal or reinstatement of license; power to enforce provisions
(a) Any person, partnership, corporation, limited liability company, association, or other business entity hereafter desiring to enter into business of and obtain a license...
N.C. Gen. Stat. § 93A-4.1. Continuing education
(a) The Commission shall establish a program of continuing education for real estate brokers. An individual licensed as a real estate broker is required...
N.C. Gen. Stat. § 93A-4.2. Broker-in-charge qualification
To be qualified to serve as a broker-in-charge of a real estate office, a real estate broker shall possess at least two years of...
N.C. Gen. Stat. § 93A-4.3. Elimination of salesperson license; conversion of salesperson licenses to broker licenses
(a) Effective April 1, 2006, the Commission shall discontinue issuing real estate salesperson licenses. Also effective April 1, 2006, all salesperson licenses shall become...
N.C. Gen. Stat. § 93A-4A. Recodified as G.S. 93A-4.1 by Session Laws 2005-395, s. 6
N.C. Gen. Stat. § 93A-5. Register of applicants and roster of brokers
(a) The Executive Director of the Commission shall keep a register of all applicants for license, showing for each the date of application, name,...
N.C. Gen. Stat. § 93A-6. Disciplinary action by Commission
(a) The Commission has power to take disciplinary action. Upon its own initiative, or on the complaint of any person, the Commission may investigate...
N.C. Gen. Stat. § 93A-6.1. Commission may subpoena witnesses, records, documents, or other materials
(a) The Commission, Executive Director, or other representative designated by the Commission may issue a subpoena for the appearance of witnesses deemed necessary to...
N.C. Gen. Stat. § 93A-7. Power of courts to revoke
Whenever any person, partnership, association or corporation claiming to have been injured or damaged by the gross negligence, incompetency, fraud, dishonesty or misconduct on...
N.C. Gen. Stat. § 93A-8. Penalty for violation of Chapter
Any person violating the provisions of this Chapter shall upon conviction thereof be deemed guilty of a Class 1 misdemeanor. (1957, c. 744, s....
N.C. Gen. Stat. § 93A-9. Licensing foreign brokers
(a) The Commission may issue a broker license to an applicant licensed in a foreign jurisdiction who has satisfied the requirements for licensure set...
N.C. Gen. Stat. § 93A-10. Nonresident licensees; filing of consent as to service of process and pleadings
Every nonresident applicant shall file an irrevocable consent that suits and actions may be commenced against such applicant in any of the courts of...
N.C. Gen. Stat. § 93A-11. Reimbursement by real estate independent contractor of brokers' workers' compensation
(a) Notwithstanding the provisions of G.S. 97-21 or any other provision of law, a real estate broker may include in the governing contract with...
N.C. Gen. Stat. § 93A-12. Disputed monies
(a) A real estate broker licensed under this Chapter or an attorney licensed to practice law in this State may deposit with the clerk...
N.C. Gen. Stat. § 93A-13. Contracts for broker services
No action between a broker and the broker's client for recovery under an agreement for broker services is valid unless the contract is reduced...
N.C. Gen. Stat. § 93A-14. Reserved for future codification purposes
N.C. Gen. Stat. § 93A-15. Reserved for future codification purposes

Article 2 - Real Estate Education and Recovery Fund.

N.C. Gen. Stat. § 93A-16. Real Estate Education and Recovery Fund created; payment to fund; management
(a) There is hereby created a special fund to be known as the "Real Estate Education and Recovery Fund" which shall be set aside...
N.C. Gen. Stat. § 93A-17. Grounds for payment; notice and application to Commission
(a) An aggrieved person who has suffered a direct monetary loss by reason of the conversion of trust funds by any licensed real estate...
N.C. Gen. Stat. § 93A-18. Hearing; required showing
Upon application by an aggrieved person, the Commission shall conduct a hearing and the aggrieved person shall be required to show that the aggrieved...
N.C. Gen. Stat. § 93A-19. Response and defense by Commission and judgment debtor; proof of conversion
(a) Whenever the Commission proceeds upon an application as set forth in this Article, counsel for the Commission may defend such action on behalf...
N.C. Gen. Stat. § 93A-20. Order directing payment out of fund; compromise of claims
Applications for payment from the Real Estate Education and Recovery Fund shall be heard and decided by a majority of the members of the...
N.C. Gen. Stat. § 93A-21. Limitations; pro rata distribution; attorney fees
(a) Payments from the Real Estate Education and Recovery Fund shall be subject to the following limitations: (1) The right to recovery under this...
N.C. Gen. Stat. § 93A-22. Repayment to fund; automatic suspension of license
Should the Commission pay from the Real Estate Education and Recovery Fund any amount in settlement of a claim or toward satisfaction of a...
N.C. Gen. Stat. § 93A-23. Subrogation of rights
When the Commission has paid from the Real Estate Education and Recovery Fund any sum to the judgment creditor, the Commission shall be subrogated...
N.C. Gen. Stat. § 93A-24. Waiver of rights
The failure of an aggrieved person to comply with this Article shall constitute a waiver of any rights hereunder. (1979, c. 614, s. 1.)
N.C. Gen. Stat. § 93A-25. Persons ineligible to recover from fund
No real estate broker who suffers the loss of any commission from any transaction in which he or she was acting in the capacity...
N.C. Gen. Stat. § 93A-26. Disciplinary action against licensee
Nothing contained in this Article shall limit the authority of the Commission to take disciplinary action against any licensee under this Chapter, nor shall...
N.C. Gen. Stat. § 93A-27 to 93A-31. Reserved for future codification purposes

Article 3 - Private Real Estate Schools.

N.C. Gen. Stat. § 93A-32. Definitions
As used in this Article: (1) "Commission" means the North Carolina Real Estate Commission. (2) "Private real estate school" means any real estate educational...
N.C. Gen. Stat. § 93A-33. Commission to administer Article; authority of Commission to conduct investigations, issue licenses, and promulgate regulations
The Commission shall have authority to administer and enforce this Article and to issue licenses to private real estate schools as defined herein which...
N.C. Gen. Stat. § 93A-34. License required; application for license; fees; requirements for issuance of license
(a) No person, partnership, corporation or association shall operate or maintain or offer to operate in this State a private real estate school as...
N.C. Gen. Stat. § 93A-35. Duration and renewal of licenses; transfer of school ownership
(a) All licenses issued shall expire on June 30 following the date of issuance. (b) Licenses shall be renewable annually on July 1, provided...
N.C. Gen. Stat. § 93A-36. Execution of bond required; applicability to branch schools; actions upon bond
(a) Before the Commission shall issue a license the applicant shall execute a bond in the sum of five thousand dollars ($5,000), payable to...
N.C. Gen. Stat. § 93A-37. Contracts with unlicensed schools and evidences of indebtedness made null and void
All contracts or agreements entered into on or after October 1, 1980, by private real estate schools, as defined in this Article, with students...
N.C. Gen. Stat. § 93A-38. Suspension, revocation or denial of license
The Commission shall have the power to suspend, revoke, deny issuance, or deny renewal of license to operate a private real estate school. In...

Article 4 - Time Shares.

N.C. Gen. Stat. § 93A-39. Title
This Article shall be known and may be cited as the "North Carolina Time Share Act." (1983, c. 814, s. 1.)
N.C. Gen. Stat. § 93A-40. Registration required of time share projects; real estate license required
(a) It shall be unlawful for any person in this State to engage or assume to engage in the business of a time share...
N.C. Gen. Stat. § 93A-41. Definitions
When used in this Article, unless the context otherwise requires, the term: (1) "Commission" means the North Carolina Real Estate Commission; (2) "Developer" means...
N.C. Gen. Stat. § 93A-42. Time shares deemed real estate
(a) A time share which in whole or in part burdens or pertains to real property in this State is deemed to be an...
N.C. Gen. Stat. § 93A-43. Partition
When a time share is owned by two or more persons as tenants in common or as joint tenants either may seek a partition...
N.C. Gen. Stat. § 93A-44. Public offering statement
Each developer shall fully and conspicuously disclose in a public offering statement: (1) The total financial obligation of the purchaser, which shall include the...
N.C. Gen. Stat. § 93A-45. Purchaser's right to cancel; escrow; violation
(a) A developer shall, before transfer of a time share and no later than the date of any contract of sale, provide a prospective...
N.C. Gen. Stat. § 93A-46. Prizes
An advertisement of a time share which includes the offer of a prize or other inducement shall fully comply with the provisions of Chapter...
N.C. Gen. Stat. § 93A-47. Time shares proxies
No proxy, power of attorney or similar device given by the purchaser of a time share regarding the management of the time share program...
N.C. Gen. Stat. § 93A-48. Exchange programs
(a) If a purchaser is offered the opportunity to subscribe to any exchange program, the developer shall, except as provided in subsection (b), deliver...
N.C. Gen. Stat. § 93A-49. Service of process on exchange company
Any exchange company offering an exchange program to a purchaser shall be deemed to have made an irrevocable appointment of the Commission to receive...
N.C. Gen. Stat. § 93A-50. Securities laws apply
The North Carolina Securities Act, Chapter 78A, shall also apply, in addition to the laws relating to real estate, to time shares deemed to...
N.C. Gen. Stat. § 93A-51. Rule-making authority
The Commission shall have the authority to adopt rules and regulations that are not inconsistent with the provisions of this Article and the General...
N.C. Gen. Stat. § 93A-52. Application for registration of time share project; denial of registration; renewal; reinstatement; and termination of developer's interest
(a) Prior to the offering in this State of any time share located in this State, the developer of the time share project shall...
N.C. Gen. Stat. § 93A-53. Register of applicants; roster of registrants; registered projects; financial report to Secretary of State
(a) The Executive Director of the Commission shall keep a register of all applicants for certificates of registration, showing for each the date of...
N.C. Gen. Stat. § 93A-54. Disciplinary action by Commission
(a) The Commission has power to take disciplinary action. Upon its own motion, or on the verified complaint of any person, the Commission may...
N.C. Gen. Stat. § 93A-55. Private enforcement
The provisions of the Article shall not be construed to limit in any manner the right of a purchaser or other person injured by...
N.C. Gen. Stat. § 93A-56. Penalty for violation of Article
Except as provided in G.S. 93A-40(b) and G.S. 93A-58, any person violating the provisions of this Article shall be guilty of a Class 1...
N.C. Gen. Stat. § 93A-57. Release of liens
(a) Prior to any recordation of the instrument transferring a time share, the developer shall record and furnish notice to the purchaser of a...
N.C. Gen. Stat. § 93A-58. Registrar required; criminal penalties; project broker
(a) Every developer of a registered project shall, by affidavit filed with the Commission, designate a natural person to serve as time share registrar...
N.C. Gen. Stat. § 93A-59. Preservation of time share purchaser's claims and defenses
(a) For one year following the execution of an instrument of indebtedness for the purchase of a time share, the purchaser of a time...
N.C. Gen. Stat. § 93A-60 through 93A-69. Reserved for future codification purposes

Article 5 - Real Estate Appraisers.

N.C. Gen. Stat. § 93A-70 through 93A-81. Repealed by Session Laws 1993, c. 419, s. 7

Article 6 - Broker Price Opinions and Comparative Market Analyses.

N.C. Gen. Stat. § 93A-82. Definitions
As used in this Article, the terms "broker price opinion" and "comparative market analysis" mean an estimate prepared by a licensed real estate broker...
N.C. Gen. Stat. § 93A-83. Broker price opinions and comparative market analyses for a fee
(a) Authorized. - A person licensed under this Chapter, other than a provisional broker, may prepare a broker price opinion or comparative market analysis...

Last modified: March 23, 2014