Title 40, Professions and Occupations

In addition to other requirements established by law and for the purpose of determining an applicant's eligibility for licensure as an associate, broker, broker-in-charge, property manager, and property manager-in-charge, the commission shall require initial applicants and applic…

(A) The commission may recognize applicants who have a license on active status from other jurisdictions only if the other jurisdiction recognizes South Carolina real estate licenses on active status and the other jurisdiction's real estate regulatory authority has entered into a…

(A) A broker-in-charge or property manager-in-charge shall: (1) adequately supervise employees or supervised licensees to ensure their compliance with this chapter; (2) review and approve all forms of listing agreements, agency agreements, offers, sale contracts, purchase contrac…

(A)(1) A broker-in-charge or a property manager-in-charge, when taking possession of trust funds, shall establish and maintain control of and responsibility for an active real estate trust account which must be a demand deposit account designated and titled to include the word "t…

It is unlawful for an individual to act as a real estate broker, real estate associate, or real estate property manager or to advertise or provide services as such without an active, valid license issued by the commission.

This chapter does not apply to: (1) the sale, lease, or rental of real estate by an unlicensed owner of real estate who owns any interest in the real estate if the interest being sold, leased, or rented is identical to the owner's legal interest; (2) an attorney at law acting wit…

For purposes of this chapter: (1) "Active license" means a license that has been issued for the current period and authorizes the licensee to practice in this State. (2) "Agency relationship" means a legally binding relationship created in writing between a real estate brokerage …

To be eligible for licensure as a real estate broker, broker-in-charge, or associate, an applicant must: (1) attain the age of twenty-one if applying for a license as a broker or broker-in-charge; (2) attain the age of eighteen if applying for a license as an associate; (3) provi…

(A) As a condition for and before applying to the commission for licensure, an applicant for an associate, broker, or broker-in-charge license shall provide proof to the commission of having met the following educational requirements, in addition to the other requirements of this…

(A) A broker-in-charge license may not be issued to or renewed for an applicant unless the applicant: (1) has an ownership interest in the applicant's company; or (2) is actively engaged in the operation and management of the company. (B) An individual holding an active broker or…

(A) As a condition of active license renewal: (1) A broker or associate shall submit to a criminal background check upon every third renewal as required for initial applicants pursuant to Section 40-57-115 and shall provide proof of satisfactory completion biennially of ten hours…

An individual with an expired license who, at the time of expiration, was in good standing, has twenty-five years or more of licensure in South Carolina, and who is sixty-five years of age, may apply to the Real Estate Commission for a renewal of the expired license. The applican…

(A) A real estate brokerage firm that provides services through an agency agreement for a client is bound by the duties of loyalty, obedience, disclosure, confidentiality, reasonable care, diligence, and accounting as set forth in this chapter. Pursuant to the aforementioned duti…

Section effective until May 15, 2027. See, also, Section 40-57-360 effective May 15, 2027. (A) The broker-in-charge must be responsible for supervising the team and all licensed members of the team. The broker-in-charge may not delegate supervisory responsibilities to the team me…

(A) A licensee shall provide at the first practical opportunity to all potential buyers and sellers of real estate with whom the licensee has substantive contact: (1) a meaningful explanation of brokerage relationships in real estate transactions that are offered by that real est…

A real estate broker and all supervised licensees owe no duty or obligation to a client following termination, expiration, completion, or performance of an agency agreement or closing of the real property transaction, whichever occurs first, except the duties of: (1) accounting i…

(A) The South Carolina Real Estate Commission consists of ten commissioners elected or appointed as follows: (1) seven commissioners who are professionally engaged in the active practice of real estate, one elected from each congressional district by a majority of house members a…

Unless otherwise provided in this chapter, the provisions of Article 1, Chapter 1 apply to real estate brokers, associates, and property managers. The provisions of this chapter control when they conflict with the provisions of Article 1, Chapter 1.

The commission annually shall elect from its total membership a chair, vice chair, and other officers the commission determines necessary at the first meeting in the fiscal year of the State. The commission may adopt an official seal and shall adopt rules and procedures reasonabl…

(A) To be eligible for licensure as a property manager or property manager-in-charge, an applicant must: (1) attain the age of twenty-one if applying for a property manager-in-charge; (2) attain the age of eighteen if applying for a license as a property manager; (3) provide a ph…

(A) The management of each residential multiunit rental location must be provided by an on-site licensee or an off-site licensee if there is no on-site staff. (B) The commission may permit multiple multiunit rental property locations to be managed by one licensee. (C) An unlicens…

(A) The commission shall administer and enforce this chapter and regulations promulgated under this chapter. In addition to powers contained in Section 40-1-70, the powers and duties include, but are not limited to: (1) determining the standards for the qualifications and eligibi…

The commission shall submit an annual report in accordance with established guidelines to the department and the Chairs of the Senate Labor, Commerce and Industry Committee and House Labor, Commerce and Industry Committee.

(A) Fees relevant to the licensure and regulation of real estate brokers, associates, and property managers must be established in accordance with Section 40-1-50(D) and promulgated by regulation prior to implementation. (B) Application and license fees must be paid to the commis…

(A) In addition to Section 40-1-110, the commission may deny issuance of a license to an applicant or may take disciplinary action against a licensee who: (1) makes a substantial misrepresentation on an application for a real estate license; (2) makes a substantial misrepresentat…

(A) An investigation must be conducted in accordance with Section 40-1-80 and must be performed by investigators who have completed one hundred hours of training in programs that are approved by the commission and provide instruction on real estate principles, state statutory and…

(A) The department may refer any reports of violations of this chapter and Article 1, Chapter 1 of this title or any reports of violations of regulations promulgated under this chapter directly to the commission or may issue administrative citations and cease and desist orders in…

(A) Unless the revocation is expressly made permanent as provided for in Section 40-1-120, after revocation of a license, a person may not reapply for three years from the date of revocation. (B) An individual seeking licensure after revocation shall: (1) appear before the commis…

(A) No cause of action may arise against an owner of real estate or licensed real estate agent of a party to a transaction for failure to disclose in a transaction: (1) that the subject real estate is or was occupied by an individual who was infected with a virus or another disea…

Payment and collection of costs associated with investigations and prosecution of violations under this chapter must comply with Section 40-1-170.

Imposition and collection of all costs and fines imposed pursuant to this chapter must comply with Section 40-1-180.

An investigation conducted pursuant to this chapter is confidential. The supervising broker-in-charge or property manager-in-charge of record with whom the supervised licensee is affiliated with at the time the licensee is sent the information as required pursuant to Section 40-1…

A real estate broker, associate, or property manager who fails to renew or register a license and continues to engage in the business permitted pursuant to the license is guilty of a misdemeanor and, upon conviction, must be fined not more than five hundred dollars or imprisoned …

A civil action may be brought for violations of this chapter as provided for violations of Article 1, Chapter 1, in accordance with Section 40-1-210.

(A) Service of a notice provided for by law upon a nonresident licensed under this chapter or upon a resident who, having been licensed, subsequently becomes a nonresident or after due diligence cannot be found at his usual abode or place of business in this State, may be made by…

If any section, subsection, paragraph, subparagraph, sentence, clause, phrase, or word of this act is for any reason held to be unconstitutional or invalid, such holding shall not affect the constitutionality or validity of the remaining portions of this act, the General Assembly…

A licensee under this chapter is responsible for any and all work product produced by him or with the assistance of artificial intelligence, machine learning, or similar programs. A violation of this chapter that is committed through the use of these programs will be treated as i…

An application for examination or licensure must be made on a form prescribed by the commission and must be accompanied by all applicable fees.

(A) The commission may promulgate regulations standards and qualification requirements for prelicensing and continuing education providers, instructors, and courses. (B) Prelicensing and continuing education courses are eligible for distance learning if the provider has attained …

(A) All providers and instructors seeking approval by the commission must submit an application and applicable fee to the commission on prescribed forms. To attain approval, applicants must meet qualification requirements as provided in regulations. Approval from the commission m…

(A) Providers and instructors shall renew their licenses with the commission biennially. The commission may audit providers offering distance education courses to ensure the certification from ARELLO, IDECC, or other national certifying entities as approved by the commission, is …

(A) This chapter may be cited as the Licensing of Mortgage Brokers Act. (B) A person may not broker a mortgage loan as defined in this chapter unless the broker of the mortgage loan: (1) is an exempt person as defined by Section 40-58-20(16); or (2) has complied with the provisio…

The administrator may promulgate regulations necessary to effectuate the purposes of this chapter.

(A)(1) In addition to the initial nonrefundable license application fee of five hundred fifty dollars required by Section 40-58-50, first time mortgage broker licensees also shall pay a one-time, nonrefundable processing fee of two hundred dollars. Thereafter, a mortgage broker l…

(A) A licensee shall maintain records in conformity with generally accepted accounting principles and practices in a manner that will enable the administrator to determine whether the licensee is complying with this chapter. The recordkeeping system of a licensee is sufficient if…

(A) The administrator may participate in the Nationwide Mortgage Licensing System and Registry and may take all actions necessary and appropriate to that end including, but not limited to, the following: (1) facilitating and participating in the establishment and implementation o…