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5 AN ACT RELATING TO SECURITIES -- REAL ESTATE DIVISION; AMENDING THE
6 DEFINITION OF PROPERTY MANAGEMENT TO EXCLUDE RENTAL OF CERTAIN
7 PUBLIC ACCOMMODATION FOR ANY PERIOD LESS THAN 30 CONSECUTIVE
8 DAYS; AND MAKING TECHNICAL CHANGES.
9 This act affects sections of Utah Code Annotated 1953 as follows:
11 61-2-2, as last amended by Chapter 102, Laws of Utah 1996
12 Be it enacted by the Legislature of the state of Utah:
13 Section 1. Section 61-2-2 is amended to read:
14 61-2-2. Definitions.
15 As used in this chapter:
16 (1) "Associate real estate broker" and "associate broker" means any person employed or
17 engaged as an independent contractor by or on behalf of a licensed principal real estate broker to
18 perform any act set out in Subsection (12) for valuable consideration, who has qualified under the
19 provisions of this chapter as a principal real estate broker.
20 (2) "Branch office" means a principal broker's real estate brokerage office other than his
21 main office.
22 (3) "Commission" means the Real Estate Commission established under this chapter.
23 (4) "Concurrence" means the entities given a concurring role must jointly agree for action
24 to be taken.
25 (5) "Condominium" or "condominium unit" is as defined in Section 57-8-3.
26 (6) "Condominium homeowners' association" means all of the condominium unit owners
27 acting as a group in accordance with declarations and bylaws.
1 (7) (a) "Condominium hotel" means one or more condominium units that are operated as
2 a hotel.
3 (b) "Condominium hotel" does not mean a hotel consisting of condominium units, all of
4 which are owned by a single entity.
5 (8) "Director" means the director of the Division of Real Estate.
6 (9) "Division" means the Division of Real Estate.
7 (10) "Executive director" means the director of the Department of Commerce.
8 (11) "Main office" means the address which a principal broker designates with the division
9 as his primary brokerage office.
10 (12) "Principal real estate broker" and "principal broker" means any person:
11 (a) (i) who sells or lists for sale, buys, exchanges, or auctions real estate, options on real
12 estate, or improvements on real estate with the expectation of receiving valuable consideration;
14 (ii) who advertises, offers, attempts, or otherwise holds himself out to be engaged in the
15 business described in Subsection (12)(a)(i);
16 (b) employed by or on behalf of the owner of real estate or by a prospective purchaser of
17 real estate who performs any of the acts described in Subsection (12)(a), whether his compensation
18 is at a stated salary, a commission basis, upon a salary and commission basis, or otherwise;
19 (c) who, with the expectation of receiving valuable consideration, manages property
20 owned by another person or who advertises or otherwise holds himself out to be engaged in
21 property management;
22 (d) who, with the expectation of receiving valuable consideration, assists or directs in the
23 procurement of prospects for or the negotiation of the transactions listed in Subsections (12)(a) and
24 (c); and
25 (e) except for mortgage lenders, title insurance agents, and their employees, who assists
26 or directs in the closing of any real estate transaction with the expectation of receiving valuable
28 (13) (a) "Property management" means engaging in, with the expectation of receiving
29 valuable consideration, the management of property owned by another person or advertising or
30 otherwise claiming to be engaged in property management by:
31 (i) advertising for, arranging, negotiating, offering, or otherwise attempting or participating
1 in a transaction calculated to secure the rental or leasing of real estate;
2 (ii) collecting, agreeing, offering, or otherwise attempting to collect rent for the real estate
3 and accounting for and disbursing the money collected; or
4 (iii) authorizing expenditures for repairs to the real estate.
5 (b) "Property management" does not include:
6 (i) hotel or motel management [
7 (ii) rental of tourist accommodations, including hotels, motels, tourist homes,
8 condominiums, condominium hotels, mobile home park accommodations, campgrounds, or similar
9 public accommodations for any period of less than 30 consecutive days, and the management
10 activities associated with these rentals; or
12 interests, if the leasing or management is separate from a sale or lease of the surface estate.
13 (14) "Real estate" includes leaseholds and business opportunities involving real property.
14 (15) "Real estate sales agent" and "sales agent" means any person employed or engaged
15 as an independent contractor by or on behalf of a licensed principal real estate broker to perform
16 for valuable consideration any act set out in Subsection (12).
17 (16) (a) "Regular salaried employee" means an individual who performs a service for
18 wages or other remuneration, whose employer withholds federal employment taxes under a
19 contract of hire, written or oral, express or implied.
20 (b) "Regular salaried employee" does not include a person who performs services on a
21 project-by-project basis or on a commission basis.
22 (17) "Reinstatement" means restoring a license that has expired or has been suspended.
23 (18) "Reissuance" means the process by which a licensee may obtain a license following
24 revocation of the license.
25 (19) "Renewal" means extending a license for an additional licensing period on or before
26 the date the license expires.
Legislative Review Note
as of 2-7-97 10:16 AM
A limited legal review of this bill raises no obvious constitutional or statutory concerns.
Office of Legislative Research and General Counsel
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