AB40,1172,222 452.09 (1) (e) Any other information which that the department board may
23reasonably require to enable it to determine the competency of each applicant,
24including each business representative of the business entity, to transact the

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1business of a broker or salesperson in a manner which that safeguards the interests
2of the public.

AB40,1172,104 452.09 (2) (a) Except as provided in a reciprocal agreement under s. 452.05 (3),
5each applicant for a salesperson's license shall submit to the department board
6evidence satisfactory to the department board of successful completion of
7educational programs approved for this purpose under s. 452.05 (1) (c). The
8department board may waive the requirement under this paragraph upon proof that
9the applicant has received 10 academic credits in real estate or real estate related
10law courses from an accredited institution of higher education.

AB40,1172,1612 452.09 (2) (c) 2. Submit to the department board evidence satisfactory to the
13department board of successful completion of educational programs in business
14management approved for this purpose under s. 452.05 (1) (c). No educational
15programs applied to satisfy the requirement under subd. 1. may be applied to satisfy
16the requirement under this subdivision.

AB40,1172,2118 452.09 (2) (d) The department board may waive the requirements under par.
19(c) upon proof that the applicant has received 20 academic credits in real estate or
20real estate related law courses from an accredited institution of higher education or
21that the applicant is licensed to practice law in this state.

AB40,1173,723 452.09 (3) (a) In determining competency, the department board shall require
24proof that the applicant for a broker's or salesperson's license has a fair knowledge
25of the English language,; a fair understanding of the general purposes and general

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1legal effect of deeds, mortgages, land contracts of sale, leases, bills of sale, chattel
2mortgages, and conditional sales contracts,; and a general and fair understanding
3of the obligations between principal and agent, as well as of this chapter. An The
4board shall deny a license to an applicant receiving a failing grade, as established by
5rules of the department board, on any examination given under this section shall be
6denied a license, but any applicant may review his or her examination results in a
7manner established by rules of the department board.

AB40,1173,119 452.09 (3) (b) The department board shall determine competency under par.
10(a) by means of only an oral examination for any applicant who is unable to write
11because of a physical handicap.

AB40,1173,1613 452.09 (3) (d) Except as provided in a reciprocal agreement under s. 452.05 (3),
14the department board may not grant a broker's license to an applicant who does not
15hold a salesperson's license unless the applicant passes the salesperson's
16examination and the broker's examination.

AB40,1174,218 452.09 (5) Apprenticeships. Any person who is a resident of this state and 18
19years of age or over may, upon application filed in accordance with sub. (1), be
20indentured to a licensed resident broker in accordance with rules promulgated by the
21department board. These rules shall be promulgated so as to protect the public and
22may limit the real estate sales and brokerage activity of the apprentice. The
23department board may require an apprentice to take a preliminary examination
24covering general knowledge and may prescribe the character and extent of his or her
25work during apprenticeship. The department board may issue a temporary

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1salesperson's permit to the individual for a period not to exceed one year upon
2payment of the fee under s. 440.05 (6). The temporary permit is not renewable.

AB40,1174,54 452.10 (2) (b) Unless an application is withdrawn in writing before the
5department board has made any investigation, no part of the fee shall be returned.

AB40,1174,97 452.10 (4) (a) Any licensed salesperson or broker may transfer to the
8employment of a licensed broker by first paying the transfer fee specified in s. 440.05
9(7) and filing a transfer form with the department board.

AB40,1174,1311 452.10 (6) In the case of applications for renewals of licenses the department
12board may dispense with such matters contained in s. 452.09 (1) as it deems
13unnecessary in view of prior applications.

AB40,1174,2415 452.11 (3) Every nonresident applicant, and every resident licensee who
16becomes a nonresident, shall file with the department board an irrevocable consent
17that actions may be commenced against the applicant or licensee in the proper court
18of any county of the state in which a cause of action arises or in which the plaintiff
19resides, by the service of any process or pleading authorized by the laws of this state
20on the department board or any duly authorized employee. The consent shall
21stipulate and agree that such service is valid and binding as due service upon the
22applicant or licensee in all courts in this state. The consent shall be duly
23acknowledged and, if made by a corporation, shall be authenticated by the corporate
24seal.

AB40,1175,11

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1452.11 (4) Any process or pleading under this section shall be served in
2duplicate upon the department board or its duly authorized employee. One copy
3shall be filed with the department board and the other immediately forwarded by
4certified mail to the nonresident licensee against whom the process or pleading is
5directed at the last address provided to the department board by the nonresident
6licensee. No default in any such proceeding or action may be taken unless it appears
7by affidavit of the secretary chairperson of the board or any duly authorized
8employee that a copy of the process or pleading was mailed to the nonresident
9licensee as required in this subsection. No judgment by default may be taken in any
10action or proceeding within 20 days after the date of mailing the process or pleading
11to the nonresident licensee.

AB40,1175,1513 452.12 (1) Expiration. A license granted by the department board entitles the
14holder to act as a broker or salesperson, as the case may be, until the applicable
15renewal date specified under s. 440.08 (2) (a).

AB40,1175,2217 452.12 (2) (c) Application for a business entity license shall be made on forms
18prescribed by the department board, listing the names and addresses of all business
19representatives, and shall be accompanied by the initial credential fee determined
20by the department under s. 440.03 (9) (a). If there is a change in any of the business
21representatives, the change shall be reported to the department board, on the same
22form, within 30 days after the effective date of the change.

AB40,1176,424 452.12 (4) Register of brokers and salespersons. The department shall
25maintain the register required by s. 440.035 (4). The board shall include in the

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1register the board maintains under s. 440.035 (4) the names of all brokers and
2salespersons whose licenses have been were revoked at any time within the past 2
3years prior to the issuance thereof shall be included in the register. The register shall
4be available for purchase at cost.

AB40,1176,86 452.12 (5) (b) If an application for renewal is not filed with the department
7board on or before the renewal date, the applicant may not engage in any of the
8activities covered by the license until the license is renewed or a new license is issued.

AB40,1176,1310 452.12 (5) (c) 2. Not later than June 30 of each even-numbered year, the
11department board shall conduct an examination on those subjects required for
12continuing education under s. 452.05 (1) (d). Any broker or salesperson who passes
13the examination under this subdivision is not required to comply with subd. 1.

AB40,1176,1815 452.12 (5) (d) Annually, the department shall pay to the University of
16Wisconsin-Madison $10 of each renewal fee received under this subsection for
17support of the center for urban land economics in the School of Business at the
18University of Wisconsin-Madison under s. 37.25 (34).

AB40,1176,2220 452.12 (6) (b) Unless an applicant's license has been revoked or suspended
21under s. 452.14 (3), the department board may register the applicant under par. (a)
22as an inactive licensee upon payment of a $15 fee.

AB40,1177,224 452.12 (6) (d) If an inactive licensee files an application for reinstatement
25before January 1, 1996, the department board shall reinstate the inactive licensee's

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1original license in accordance with the requirements for late renewal under s. 440.08
2(3).

AB40,1177,64 452.12 (6) (e) (intro.) Except as provided in ss. 440.03 (11m) (b), 440.12 and
5440.13 (2) (a) (c), the department board shall reinstate an inactive licensee's original
6license as follows:

AB40,1177,138 452.12 (6) (e) 1. If a person has registered as an inactive licensee before
9November 1, 1990, the department board shall reinstate the person's original license
10if that person applies to the department board for reinstatement of his or her original
11license, pays the fee specified under s. 440.05 (1), passes an examination under s.
12452.09 (3), and completes the education requirements established by the department
13board under par. (f).

AB40,1177,2415 452.12 (6) (e) 2. If a person has registered as an inactive licensee on or after
16November 1, 1990, the department board shall reinstate the person's original license
17if that person applies to the department board for reinstatement of his or her original
18license, pays the renewal fee determined by the department under s. 440.03 (9) (a)
19for the original license and completes 12 hours of continuing education as established
20by the department board under par. (f). A person who is eligible for reinstatement
21of his or her original license under this subdivision shall complete the requirements
22for reinstatement under this subdivision before January 1, 1996, or within 5 years
23after the date on which the person registered as an inactive licensee, whichever is
24later.

AB40,1178,5

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1452.12 (6) (e) 3. If a person who is eligible for reinstatement of his or her
2original license under subd. 2. does not complete the requirements for reinstatement
3within the time specified under subd. 2., the department board shall reinstate the
4original license of that person if he or she meets the requirements specified under
5subd. 1.

AB40,1178,97 452.12 (6) (f) The department board shall promulgate rules establishing the
8education requirements that applicants for reinstatement of original licenses under
9par. (e) must satisfy.

AB40,1178,1311 452.13 (2) (b) 1. Register with the department of regulation and licensing
12safety and professional services the name and address of the depository institution
13and the number of the interest-bearing common trust account.

AB40,1178,1715 452.13 (2) (b) 2. Notify the department of regulation and licensing safety and
16professional services when any of the information required under subd. 1. is
17changed.

AB40,1178,2519 452.13 (2) (b) 3. Furnish the department of regulation and licensing safety and
20professional services with a letter authorizing the department of regulation and
21licensing safety and professional services and the department of commerce
22Wisconsin Housing and Economic Development Authority to examine and audit the
23interest-bearing common trust account whenever the department of regulation and
24licensing safety and professional services or the department of commerce Wisconsin
25Housing and Economic Development Authority considers it necessary.

AB40,1179,52 452.13 (2) (bm) The department of regulation and licensing safety and
3professional services shall forward to the department of commerce Wisconsin
4Housing and Economic Development Authority the information and documents
5furnished under par. (b).

AB40,1179,97 452.13 (2) (d) The department of commerce Wisconsin Housing and Economic
8Development Authority is the beneficial owner of the interest accruing to the
9interest-bearing common trust account, minus any service charges or fees.

AB40,1179,1711 452.13 (2) (e) 1. Annually, before February 1, remit to the department of
12commerce Wisconsin Housing and Economic Development Authority the total
13interest or dividends, minus service charges or fees, earned on the average daily
14balance in the interest-bearing common trust account during the 12 months ending
15on the previous December 31. A depository institution is not required to remit any
16amount if the total interest or dividends for that period is less than $10 before any
17deduction for service charges or fees.

AB40,1179,2419 452.13 (2) (e) 2. When the interest remittance is sent, furnish to the
20department of commerce Wisconsin Housing and Economic Development Authority
21and to the broker maintaining the interest-bearing common trust account a
22statement that includes the name of the broker for whose account the remittance is
23made, the rate of interest applied, the amount of service charges or fees deducted,
24if any, and the account balance for the period that the statement covers.

AB40,1180,3

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1452.13 (2) (f) 2. May not assess a service charge or fee for an interest-bearing
2common trust account against the department of commerce Wisconsin Housing and
3Economic Development Authority.

AB40,1180,105 452.13 (2) (f) 3. May deduct a service charge or fee from the interest earned by
6an interest-bearing common trust account, and if a balance remains, may deduct the
7remaining charge or fee from the interest earned on any other interest-bearing
8common trust account maintained in that depository institution, before remitting
9interest to the department of commerce Wisconsin Housing and Economic
10Development Authority.

AB40,1180,1512 452.13 (5) Rules. In consultation with the department of regulation and
13licensing, the department of commerce Wisconsin Housing and Economic
14Development Authority, the department of safety and professional services shall
15promulgate rules necessary to administer this section.

AB40,1180,2117 452.14 (1) The department board shall, upon motion of the board secretary or
18his or her designee or upon its own determination, conduct investigations and, as
19appropriate, may hold hearings and make findings, if the board or the department
20receives credible information that a broker, salesperson, or time-share salesperson
21has violated this chapter or any rule promulgated under this chapter.

AB40,1181,323 452.14 (2) The department shall present the findings of any investigation of
24a licensee or registrant to the board for its consideration. The department shall upon
25motion of the board, and board may, upon its own determination, commence

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1disciplinary proceedings on any matter under investigation concerning a licensee or
2registrant. No investigation of a licensee or registrant may be closed without motion
3of the board.

AB40,1181,65 452.14 (3) (L) Violated any provision of this chapter or any rule promulgated
6under this chapter;

AB40,1181,138 452.17 (2) Any person who engages in or follows the business or occupation of,
9or advertises or holds himself or herself out as or acts temporarily or otherwise as,
10a time-share salesperson in this state without being registered with the department
11board shall be prosecuted by the district attorney in the county where the violation
12occurs and may be fined not less than $25 nor more than $200 or imprisoned not less
13than 10 days nor more than 6 months or both.

AB40,1181,2315 452.22 (2) The certificate of the secretary chairperson of the board or his or her
16designee to the effect that a specified individual or business entity is not or was not
17on a specified date the holder of a broker's, salesperson's, or time-share salesperson's
18license or registration, or that a specified license or registration was not in effect on
19a date specified, or as to the issuance, limitation, suspension, or revocation of any
20license or registration or the reprimand of any license or registration holder thereof,
21the filing or withdrawal of any application or its existence or nonexistence, is prima
22facie evidence of the facts therein stated in the certificate for all purposes in any
23action or proceedings.

AB40,1182,2

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1462.01 (3) "Department" means the department of regulation and licensing
2safety and professional services.

AB40,1182,6 6490.01 Definitions. In this chapter:

AB40,1182,7 7(1) "Department" means the department of safety and professional services.

AB40,1182,8 8(2) "Secretary" means the secretary of safety and professional services.