Chap. 25.—An ACT to amend and reenact Section 7, as amended, of Chapter 461
of the Acts of Assembly of 1924, approved March 21, 1924, relating to details
of licenses issued to real estate salesmen and brokers and the fees to be
charged therefor. {S 56]

Approved February 20, 1948

Be it enacted by the General Assembly of Virginia:

1. That section seven, as amended, of chapter four hundred
sixty-one of the Acts of Assembly of nineteen hundred twenty-four,
approved March twenty-one, nineteen hundred twenty-four, be
amended and reenacted as follows:

Section 7. Details relating to license.—The commission shall
issue to each licensee a license in such form and size as shall be
prescribed by the commission. This license shall show the name
and address of the licensee and in case of a real estate salesman’s
license, shall show the name of the real estate broker, by whom
he is employed. Each license shall have imprinted thereon the
seal of the commission and in addition to the foregoing shall contain
such matters as shall be prescribed by the commission. The
license of each real estate salesman shall be delivered or mailed to
the real estate broker by whom such real estate salesman is em-
ployed and shall be kept in the custody and control of such broker.
It shall be the duty of each real estate broker to conspicuously
display his license in his place of business.

The commission shall prepare and deliver to each licensee a
pocket card, which card, among other things, shall contain an
imprint of the seal of the commission and shall certify that the
person whose name appears thereon is a licensed real estate broker
or real estate salesman, as the case may be, and if it is a real estate
salesman’s card it shall also contain the name and address of his
employer, the matter to be printed on such pocket card, except
as above set forth, shall be prescribed by the commission.

The original fee for each real estate broker’s license shall be ten
dollars ($10.00) and the annual renewal fee shall be ten dollars
($10.00). The original fee for each real estate salesman’s license
shall be five dollars ($5.00) and the annual renewal fee shall be
five dollars ($5.00).

Every license shall expire on the thirtieth day of June of each
year, provided that licenses issued for the calendar year nineteen
hundred forty-eight shall remain valid until December thirty-one,
nineteen hundred forty-eight, and licenses shall be issued for the
period beginning January one, nineteen hundred forty-nine to
expire June thirty, nineteen hundred forty-nine, at a rate of one
half of the fees hereinabove prescribed. The commission shall
issue a new license for each ensuing year, in the absence of any
reason or condition which might warrant the refusal of the granting
of a license, upon receipt of the written request of the applicant and
the annual fee therefor, as herein required. The revocation of a
broker’s license shall automatically suspend every real estate
salesman’s license granted to any person by virtue of his employ-
ment by the broker whose license has been revoked, pending a
change of employer and the issuance of a new license. Such new
license shall be issued without charge, if granted during the same
year in which original license was granted. However, when a
salesman transfers his license from one licensed broker to another
during the license year, a charge of one dollar ($1.00) shall be made
for each such transfer.

Every real estate broker shall maintain a place of business in
this State. If the real estate broker maintains more than one place
of business within the State, a duplicate license shall be issued to
such broker for each branch office maintained; provided, that if
such broker be a copartnership, association or corporation, a dupli-
cate shall be issued to the members or officers thereof, and a
single fee of one dollar ($1.00) in each case shall be paid for each
duplicate license.

Notice in writing shall be given to the commission by each
licensee of any change of principal business location, whereupon
the commission shall issue a new license for the unexpired period
ind a single fee of one dollar ($1.00) shall be charged for each certi-
hcate so corrected. The change of business location without notiti-
cation to the commission shall automatically cancel the license
theretofore issued.

When any real estate salesman shall be discharged or shall ter-
minate his employment with the real estate broker by whom he is
employed, it shall be the duty of such real estate broker to im-
mediately deliver or mail by registered mail to the commission
such real estate salesman’s license. The real estate broker shall,
at the time of mailing such real estate salesman’s license to the
commission, address a communication to the last known residence
address of such real estate salesman, which communication shall
advise such real estate salesman that his license has been delivered
or mailed to the commission. A copy of such communication to the
teal estate salesman shall accompany the license when mailed or
delivered to the commission. It shall be unlawful for any real
estate salesman to perform any of the acts contemplated by this
act, either directly or indirectly, under authority of said license
from and after the date of receipt of the said license from said
broker by the commission; provided, that another license shall
not be issued to such real estate salesman until he shall return
his former pocket card to the commission, or shall satisfactorily
account to it for the same; provided, further, that not more than
one license shall be issued to any real estate salesman for the
same period of time.