CHAPTER 393

An Act to amend and reenact § 58-398 of the Code of Virginia, relating to
revenue licenses for certain persons dealing in real estate.

[S 140]
Approved April 1, 1952

Be it enacted by the General Assembly of Virginia:

1. That § 58-398 of the Code of Virginia be amended and reenacted as
ollows:

§ 58-398. A real estate * broker in a county or in an incorporated
town or in a city of not more than fifteen thousand inhabitants shall pay
the sum of twenty-five dollars; if in a city of more than fifteen thousand
inhabitants, he shall pay fifty dollars.

Any person, firm or corporation licensed as a real estate * broker
may sell, in the county or city wherein it is licensed, at auction or privately,
without taking out an auctioneer’s license, any real estate in this Common-
wealth entrusted to it for sale.

A real estate * broker, within the meaning of this section, is any per-
son, firm or corporation who or which for compensation or valuable con-
sideration sells or offers for sale, buys or offers to buy or negotiates the
purchase or sale or exchange of real estate, or who or which leases or offers
to lease or rents or offers for rent any real estate or the improvements
thereon for others.

No license hereunder shall be issued to any person desiring to act as a
real estate broker in this Commonwealth unless such person exhibits a
current license or other evidence showing that the applicant has been duly
licensed to act as a real estate broker by the Virginia Real Estate Com-
mission; provided, however, that a revenue license may be issued to a firm,
uf one of its members, or to a corporation, if one of its officers, exhibits a
current license or other evidence showing that he has been duly licensed
to act asa real estate broker by the Virginia Real Estate Commission.

The revenue license tax provided for in this section shall be applicable
to all persons who hold current real estate brokers’ licenses issued by
the Virginia Real Estate Commission; except that this paragraph shall not
apply to any member or employee of a firm or to any officer or employee of
a corporation in his capacity as such member, officer or employee if such
firm or corporation has taken out a revenue license as a real estate broker.

This section shall not apply to commissioners and receivers appointed
by the courts, nor to administrators, executors, guardians, trustees and
other fiduciaries while acting in a fiduciary capacity.