HB 1682

AN ACT TO AMEND SECTION 73-35-3, MISSISSIPPI CODE OF 1972, TO REVISE THE DEFINITION OF REAL ESTATE BROKER TO INCLUDE PERSONS, PARTNERSHIPS, ASSOCIATIONS, COMPANIES AND CORPORATIONS WHO ENGAGE IN THE PRACTICE OR PROCESS OF WHOLESALING; TO DEFINE WHOLESALER; TO PROVIDE THAT EXEMPTIONS FROM LICENSING REQUIREMENTS DO NOT APPLY TO WHOLESALERS; TO REQUIRE WHOLESALERS TO PROVIDE CERTAIN WRITTEN DISCLOSURES TO HOMEOWNERS; TO RENDER INVALID ANY CONTRACT THAT DOES NOT INCLUDE THE REQUIRED DISCLOSURES; TO PROVIDE THAT THE DISCLOSURE REQUIREMENTS SHALL ONLY APPLY TO TRANSACTIONS INVOLVING RESIDENTIAL REAL ESTATE; TO AUTHORIZE THE MISSISSIPPI REAL ESTATE COMMISSION TO PROMULGATE ANY RULES NECESSARY TO IMPLEMENT THE PROVISIONS OF THIS ACT; AND FOR RELATED PURPOSES.