Wis. Stat. § 452.12
Licenses
Redline — January 1, 2003 → current.View current text →
Current — January 1, 2015
As of January 1, 2003
(1) Expiration. A license granted by the department entitles the holder to act as a broker or salesperson, as the case may be, until the applicable renewal date specified under s. 440.08 (2) (a) .
(1) Expiration. A license granted by the board entitles the holder to act as a broker or salesperson, as the case may be, until the applicable renewal date specified under s. 440.08 (2) (a) .
(2) Business entities. (a) A license may be issued to a business entity if the business entity has at least one business representative licensed as a broker. The license issued to the business entity entitles each business representative of the business entity who is a licensed broker to act as a broker on behalf of the business entity. (c) Application for a business entity license shall be made on forms prescribed by the department, listing the names and addresses of all business representatives, and shall be accompanied by the fee specified in s. 440.05 (1) . If there is a change in any of the business representatives, the change shall be reported to the department, on the same form, within 30 days after the effective date of the change.
(2) Business entities. (a) A broker's license may be issued to a business entity if the business entity has at least one business representative licensed as a broker. The license issued to the business entity entitles each business representative of the business entity licensed as a broker to act as a broker on behalf of the business entity. A broker may act as a business representative for more than one business entity if the broker obtains the express, written consent of each business entity for which the broker desires to act as a business representative. A broker may act as a broker on behalf each business entity for which it is serving as a business representative. (c) Application for a broker's license to be issued to a business entity shall be made on forms prescribed by the board, listing the names and addresses of all business representatives and the license numbers of all business representatives that are licensed brokers, and shall be accompanied by the initial credential fee determined by the department under s. 440.03 (9) (a) . If there is a change in any of the business representatives, the change shall be reported to the board, on the same form, within 30 days after the effective date of the change.
(3) Broker's liability for acts of employees. Each broker shall supervise, and is responsible for the acts of, any broker, salesperson, or time-share salesperson employed by the broker.
(3) Firm's responsibility for acts of licensees. Subject to s. 452.139 (3) , a firm is responsible for the brokerage services provided on behalf of the firm by a licensee associated with the firm only to the extent that the firm fails to comply with s. 452.132 and any rules promulgated under s. 452.07 (1m) with respect to that licensee.
(4) Register of brokers and salespersons. The department shall maintain the register required by s. 440.035 (4) . The names of all brokers and salespersons whose licenses have been revoked at any time within 2 years prior to the issuance thereof shall be included in the register. The register shall be available for purchase at cost.
(4) Register of licensees. The board shall include in the register the board maintains under s. 440.035 (1m) (d) the names of all persons whose licenses issued under this chapter were revoked within the past 2 years. The register shall be available for purchase at cost.
(5) Renewal. (a) Renewal applications for all licenses shall be submitted with the applicable renewal fee specified under s. 440.08 (2) (a) on or before the applicable renewal date specified under s. 440.08 (2) (a) . (b) If an application for renewal is not filed with the department on or before the renewal date, the applicant may not engage in any of the activities covered by the license until the license is renewed or a new license is issued. (c) 1. At the time of renewal, each broker or salesperson shall submit proof of attendance at and successful completion of continuing education programs or courses approved under s. 452.05 (1) (g) , except as provided in subd. 2. 2. Not later than June 30 of each even-numbered year, the department shall conduct an examination on those subjects required for continuing education under s. 452.05 (1) (d) . Any broker or salesperson who passes the examination under this subdivision is not required to comply with subd. 1.
(5) Renewal. (a) Renewal applications for all licenses shall be submitted with the applicable renewal fee determined by the department under s. 440.03 (9) (a) on or before the applicable renewal date specified under s. 440.08 (2) (a) . The department shall pay $10 of each renewal fee received under this paragraph to the Board of Regents of the University of Wisconsin System for research and educational, public outreach, and grant activities under s. 36.25 (34) . (b) If an application for renewal of a license issued to an individual is not filed with the board on or before the renewal date with the proof required under par. (c) or if the renewal is not granted, the applicant may not engage in any of the activities covered by the license until the license is renewed or a new license is issued. (bm) If an application for renewal of a license issued to a firm is not filed with the board on or before the renewal date or if the renewal is not granted, all of the following apply: 1. The firm may not engage in any of the activities covered by the license until the license is renewed or a new license is issued. 2. Any licensees associated with the firm may not engage in any of the activities covered by the firm's license on behalf of the firm until the firm's license is renewed or a new license is issued. 3. A licensed individual broker or licensed broker business entity who is serving as a business representative for the firm shall notify each licensee associated with the firm that the firm's license was not renewed and, within 10 days after notifying a licensee, file with the department a notice of termination for each such licensee on a form prescribed by the department. (c) At the time of renewal, each broker or salesperson who is an individual shall submit proof of attendance at and successful completion of continuing education programs or courses approved under s. 452.05 (1) (g) . (d) At the time of renewal, each broker or salesperson who is an individual shall complete the form under s. 452.05 (1) (i) .
(6) Inactive licensees.
(a) Any licensee, except a time-share salesperson registered under s. 452.025 , may apply for registration as an inactive licensee on or before the license renewal date. This paragraph does not apply after October 31, 1995.
(b) Unless an applicant's license has been revoked or suspended under s. 452.14 (3) , the department may register the applicant under par. (a) as an inactive licensee upon payment of a $15 fee.
(c) Inactive licensees may not engage in real estate practice.
(d) If an inactive licensee files an application for reinstatement before January 1, 1996, the department shall reinstate the inactive licensee's original license in accordance with the requirements for late renewal under s. 440.08 (3) .
(e) Except as provided in ss. 440.03 (11m) (b) , 440.12 and 440.13 (2) (a) , the department shall reinstate an inactive licensee's original license as follows:
1. If a person has registered as an inactive licensee before November 1, 1990, the department shall reinstate the person's original license if that person applies to the department for reinstatement of his or her original license, pays the fees specified under s. 440.05 (1) (a) and (b) , passes an examination under s. 452.09 (3) and completes the education requirements established by the department under par. (f) .
2. If a person has registered as an inactive licensee on or after November 1, 1990, the department shall reinstate the person's original license if that person applies to the department for reinstatement of his or her original license, pays the renewal fee specified under s. 440.08 (2) (a) for the original license and completes 12 hours of continuing education as established by the department under par. (f) . A person who is eligible for reinstatement of his or her original license under this subdivision shall complete the requirements for reinstatement under this subdivision before January 1, 1996, or within 5 years after the date on which the person registered as an inactive licensee, whichever is later.
3. If a person who is eligible for reinstatement of his or her original license under subd. 2. does not complete the requirements for reinstatement within the time specified under subd. 2. , the department shall reinstate the original license of that person if he or she meets the requirements specified under subd. 1.
(f) The department shall promulgate rules establishing the education requirements that applicants for reinstatement of original licenses under par. (e) must satisfy.
Official source: Wisconsin State Legislature. Reproduced from public-domain Wisconsin statutes; confirm against the official source for the current text. Not legal advice.