Senate
File
2324
-
Introduced
SENATE
FILE
2324
BY
COMMITTEE
ON
STATE
GOVERNMENT
(SUCCESSOR
TO
SSB
3115)
A
BILL
FOR
An
Act
relating
to
the
designation
of
real
estate
teams
and
the
1
display
of
real
estate
licenses,
and
including
applicability
2
provisions.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
TLSB
6154SV
(2)
89
es/rn
S.F.
2324
Section
1.
Section
543B.5,
Code
2022,
is
amended
by
adding
1
the
following
new
subsection:
2
NEW
SUBSECTION
.
019.
“Real
estate
team”
means
two
or
3
more
licensees
assigned
to
the
same
broker
working
together
4
to
provide
real
estate
brokerage
services
and
representing
5
themselves
to
the
public
as
a
team.
6
Sec.
2.
NEW
SECTION
.
543B.25
Display
of
brokerage.
7
An
individual
licensee
or
real
estate
team
shall
8
conspicuously
display
the
name
of
the
brokerage
immediately
9
following
the
individual
licensee’s
name
or
real
estate
team
10
name
in
any
advertising
or
information
made
available
to
the
11
public.
12
Sec.
3.
APPLICABILITY.
This
Act
applies
to
displays
of
13
advertising
or
information
by
an
individual
licensee
or
a
real
14
estate
team
on
or
after
December
31,
2022.
15
EXPLANATION
16
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
17
the
explanation’s
substance
by
the
members
of
the
general
assembly.
18
This
bill
relates
to
the
designation
of
real
estate
teams
and
19
the
display
of
real
estate
licenses.
20
The
bill
defines
“real
estate
team”
to
mean
a
group
of
two
21
or
more
licensees
working
together
under
the
same
real
estate
22
broker
and
representing
themselves
as
a
team.
23
The
bill
provides
that
if
a
licensee
or
real
estate
team
is
24
assigned
to
the
same
broker,
the
licensee
or
team
shall
display
25
the
name
of
the
brokerage
immediately
following
the
name
of
the
26
licensee
or
team
in
advertising
materials
or
other
publicly
27
available
information.
28
The
bill
applies
to
displays
of
advertising
or
information
29
by
an
individual
licensee
or
real
estate
team
on
or
after
30
December
31,
2022.
31
-1-
LSB
6154SV
(2)
89
es/rn
1/
1