GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2001

SESSION LAW 2001-293
HOUSE BILL 558

AN ACT TO AUTHORIZE THE REAL ESTATE COMMISSION to adopt rules TO PERMIT REAL ESTATE BROKERS TO PAY TRAVEL AGENTS FOR PROCURING POTENTIAL TENANTS IN VACATION RENTAls.

The General Assembly of North Carolina enacts:

SECTION 1.  G.S. 93A‑3 is amended by adding a new subsection to read:
"(c1)	The provisions of G.S. 93A-1 and G.S. 93A-2 notwithstanding, the Commission may adopt rules to permit a real estate broker to pay a fee or other valuable consideration to a travel agent for the introduction or procurement of tenants or potential tenants in vacation rentals as defined in G.S. 42A-4. Rules adopted pursuant to this subsection may include a definition of the term 'travel agent', may regulate the conduct of permitted transactions, and may limit the amount of the fee or the value of the consideration that may be paid to the travel agent. However, the Commission may not authorize a person or entity not licensed as a broker or salesperson to negotiate any real estate transaction on behalf of another."
SECTION 2.  G.S. 93A‑3(c) reads as rewritten:
"(c)	The Commission shall have power to make reasonable bylaws, rules and regulations that are not inconsistent with the provisions of this Chapter and the General Statutes; provided, however, the Commission shall not make rules or regulations regulating commissions, salaries, or fees to be charged by licensees under this Chapter.
(c2)	The Commission shall adopt a seal for its use, which shall bear thereon the words "North Carolina Real Estate Commission." Copies of all records and papers in the office of the Commission duly certified and authenticated by the seal of the Commission shall be received in evidence in all courts and with like effect as the originals."
SECTION 3.  This act becomes effective January 1, 2002.
In the General Assembly read three times and ratified this the 12th day of July, 2001.

	s/	 Beverly E. Perdue
	 President of the Senate

	s/	 James B. Black
	 Speaker of the House of Representatives

	s/	 Michael F. Easley
	 Governor

Approved 8:20 a.m. this 21st day of July, 2001