Southaven

§73-35-7. Qualifications for license

Licenses shall be granted only to persons who present, and to corporations, partnerships, companies or associations whose officers, associates or partners present satisfactory proof to the commission that they are trustworthy and competent to transact the business of a real estate broker or real estate salesperson in such manner as to safeguard the interests of the public.

Except as otherwise provided in this section, every person who applies for a resident license as a real estate broker:

(a) shall be age twenty- 14 one (21) years or over, and have his legal domicile in the State of Mississippi at the time he applies;

(b) shall be subject to the jurisdiction of this state, subject to the income tax laws and other excise laws thereof, subject to the road and bridge privilege tax laws thereof;

(c) shall not be an elector in any other state; (d) shall have held a license as an active real estate salesperson for twelve (12) months prior to making application for the broker’s examination hereafter specified;

(e) shall have successfully completed a minimum of one hundred twenty (120) hours of courses in real estate as hereafter specified; and

(f) shall have successfully completed the real estate broker’s examination as hereafter specified; and

(g) shall have successfully been cleared for licensure by the commission’s background investigation as provided in Section 73-35-10; and

(h) sign a form under penalty of perjury stating that the applicant will not hire any real estate salespersons for thirty six (36) months from the date of approval of his or her active real estate salesperson’s license.

The real estate commission shall create a standard form to comply with the requirements of this section.

Upon completion of such restriction provided in this paragraph

(h) of this section, the real estate broker is authorized to employ any number of real estate salespersons.

The provisions of paragraph (h) shall not apply to an applicant who seeks to hire a real estate salesperson in less than thirty-six (36) months from the date of approval of his or her active real estate salesperson’s license.

Any person who desires to hire a real estate salesperson in less than thirty-six (36) months from the date of approval of his or her active real estate salesperson’s license shall:

(a) be age twenty-one (21) years or over, and have his or her legal domicile in the State of Mississippi at the time he or she applies;

(b) be subject to the jurisdiction of this state, subject to the income tax laws and other excise laws thereof, subject to the road and bridge privilege tax laws thereof;

(c) not be an elector in any other state;

(d) have held a license as an active real estate salesperson for thirty-six (36) months prior to making application for the broker’s examination hereafter specified;

(e) have successfully completed a minimum of one hundred twenty (120) hours of courses in real estate as hereafter specified;

(f) have successfully completed the real estate broker’s examination as hereafter specified; and

(g) have 15 successfully been cleared for licensure by the commission’s background investigation as provided in Section 73-35-10.

An applicant who has not held an active real estate salesperson’s license for a period of at least thirty-six (36) months prior to submitting an application shall have successfully completed a minimum of one hundred fifty (150) classroom hours in real estate courses, which courses are acceptable for credit toward a degree at a college or university as approved by the Southern Association of Colleges and Schools.

Every applicant for a resident license as a real estate salesperson shall be age eighteen (18) years or over, shall be a bona fide resident of the State of Mississippi prior to filing his application, shall have successfully completed a minimum of sixty (60) hours in courses in real estate as hereafter specified, and shall have successfully completed the real estate salesperson’s examination as hereafter specified.

The residency requirements set forth in this section shall not apply to those licensees of other states who qualify and obtain non resident licenses in this state.

The commission is authorized to exempt from such pre licensing educational requirements, in whole or in part, a real estate licensee of another state who desires to obtain a license under this chapter, provided that the prelicensing education requirements in the other state are determined by the commission to be equivalent to pre licensing educational requirements in this state and provided that such state extends this same privilege or exemption to Mississippi real estate licensees.

The issuance of a license by reciprocity to a military-trained applicant, military spouse or person who establishes residency in this state shall be subject to the provisions of Section 73-50-1 or 73-50-2, as applicable.