Chapter 93A Real Estate License Law
Article 1 - Real Estate Brokers and Salespersons.
- § 93A-1 License required of real estate brokers
From and after July 1, 1957, it shall be unlawful for any person, partnership, corporation, limited liability company, association, or other business entity in this...
- § 93A-2 Definitions and exceptions
(a) A real estate broker within the meaning of this Chapter is any person, partnership, corporation, limited liability company, association, or other business entity who...
- § 93A-3 Commission created; compensation; organization
(a) There is hereby created the North Carolina Real Estate Commission, hereinafter called the Commission. The Commission shall consist of nine members, seven members to...
- § 93A-4 Applications for licenses; fees; qualifications; examinations; privilege licenses; renewal or reinstatement of license; power to enforce provisions
(a) Any person, partnership, corporation, limited liability company, association, or other business entity hereafter desiring to enter into business of and obtain a license as...
- § 93A-4.1 Continuing education
(a) The Commission shall establish a program of continuing education for real estate brokers. An individual licensed as a real estate broker is required to...
- § 93A-4.2 Broker-in-charge qualification
To be qualified to serve as a broker‑in‑charge of a real estate office, a real estate broker shall possess at least two years of full‑time...
- § 93A-4.3 Elimination of salesperson license; conversion of salesperson licenses to broker licenses
(a) Effective April 1, 2006, the Commission shall discontinue issuing real estate salesperson licenses. Also effective April 1, 2006, all salesperson licenses shall become broker...
- § 93A-4A Recodified as G.S. 93A-4.1 by Session Laws 2005-395, s. 6
- § 93A-5 Register of applicants; roster of brokers; financial report to Secretary of State
(a) The Executive Director of the Commission shall keep a register of all applicants for license, showing for each the date of application, name, place...
- § 93A-6 Disciplinary action by Commission
(a) The Commission has power to take disciplinary action. Upon its own initiative, or on the complaint of any person, the Commission may investigate the...
- § 93A-6.1 Commission may subpoena witnesses, records, documents, or other materials
(a) The Commission, Executive Director, or other representative designated by the Commission may issue a subpoena for the appearance of witnesses deemed necessary to testify...
- § 93A-7 Power of courts to revoke
Whenever any person, partnership, association or corporation claiming to have been injured or damaged by the gross negligence, incompetency, fraud, dishonesty or misconduct on the...
- § 93A-8 Penalty for violation of Chapter
Any person violating the provisions of this Chapter shall upon conviction thereof be deemed guilty of a Class 1 misdemeanor. (1957, c. 744, s. 8;...
- § 93A-9 Licensing nonresidents
(a) An applicant from another state, which offers licensing privileges to residents of North Carolina, may be licensed by conforming to all the provisions of...
- § 93A-10 Nonresident licensees; filing of consent as to service of process and pleadings
Every nonresident applicant shall file an irrevocable consent that suits and actions may be commenced against such applicant in any of the courts of record...
- § 93A-11 Reimbursement by real estate independent contractor of brokers' workers' compensation
(a) Notwithstanding the provisions of G.S. 97‑21 or any other provision of law, a real estate broker may include in the governing contract with a...
- § 93A-12 Disputed monies
(a) A real estate broker licensed under this Chapter may deposit with the clerk of court in accordance with this section monies, other than a...
- § 93A-13 through 93A-15 Reserved for future codification purposes
Article 2 - Real Estate Recovery Fund.
Article 3 - Private Real Estate Schools.
- § 93A-32 Definitions
As used in this Article: (1) "Commission" means the North Carolina Real Estate Commission. (2) "Private real estate school" means any real estate educational entity...
- § 93A-33 Commission to administer Article; authority of Commission to conduct investigations, issue licenses, and promulgate regulations
The Commission shall have authority to administer and enforce this Article and to issue licenses to private real estate schools as defined herein which have...
- § 93A-34 License required; application for license; fees; requirements for issuance of license
(a) No person, partnership, corporation or association shall operate or maintain or offer to operate in this State a private real estate school as defined...
- § 93A-35 Duration and renewal of licenses; transfer of school ownership
(a) All licenses issued shall expire on June 30 following the date of issuance. (b) Licenses shall be renewable annually on July 1, provided that...
- § 93A-36 Execution of bond required; applicability to branch schools; actions upon bond
(a) Before the Commission shall issue a license the applicant shall execute a bond in the sum of five thousand dollars ($5,000), payable to the...
- § 93A-37 Contracts with unlicensed schools and evidences of indebtedness made null and void
All contracts or agreements entered into on or after October 1, 1980, by private real estate schools, as defined in this Article, with students or...
- § 93A-38 Suspension, revocation or denial of license
The Commission shall have the power to suspend, revoke, deny issuance, or deny renewal of license to operate a private real estate school. In all...
Article 4 - Time Shares.
- § 93A-39 Title
This Article shall be known and may be cited as the "North Carolina Time Share Act." (1983, c. 814, s. 1.)
- § 93A-40 Registration required of time share projects; real estate license required
(a) It shall be unlawful for any person in this State to engage or assume to engage in the business of a time share salesperson...
- § 93A-41 Definitions
When used in this Article, unless the context otherwise requires, the term: (1) "Commission" means the North Carolina Real Estate Commission; (2) "Developer" means any...
- § 93A-42 Time shares deemed real estate
(a) A time share is deemed to be an interest in real estate, and shall be governed by the law of this State relating to...
- § 93A-43 Partition
When a time share is owned by two or more persons as tenants in common or as joint tenants either may seek a partition by...
- § 93A-44 Public offering statement
Each developer shall fully and conspicuously disclose in a public offering statement: (1) The total financial obligation of the purchaser, which shall include the initial...
- § 93A-45 Purchaser's right to cancel; escrow; violation
(a) A developer shall, before transfer of a time share and no later than the date of any contract of sale, provide a prospective purchaser...
- § 93A-46 Prizes
An advertisement of a time share which includes the offer of a prize or other inducement shall fully comply with the provisions of Chapter 75...
- § 93A-47 Time shares proxies
No proxy, power of attorney or similar device given by the purchaser of a time share regarding the management of the time share program or...
- § 93A-48 Exchange programs
(a) If a purchaser is offered the opportunity to subscribe to any exchange program, the developer shall, except as provided in subsection (b), deliver to...
- § 93A-49 Service of process on exchange company
Any exchange company offering an exchange program to a purchaser shall be deemed to have made an irrevocable appointment of the Commission to receive service...
- § 93A-50 Securities laws apply
The North Carolina Securities Act, Chapter 78A, shall also apply, in addition to the laws relating to real estate, to time shares deemed to be...
- § 93A-51 Rule-making authority
The Commission shall have the authority to adopt rules and regulations that are not inconsistent with the provisions of this Article and the General Statutes...
- § 93A-52 Application for registration of time share project; denial of registration; renewal; reinstatement; and termination of developer's interest
(a) Prior to the offering in this State of any time share located in this State, the developer of the time share project shall make...
- § 93A-53 Register of applicants; roster of registrants; registered projects; financial report to Secretary of State
(a) The Executive Director of the Commission shall keep a register of all applicants for certificates of registration, showing for each the date of application,...
- § 93A-54 Disciplinary action by Commission
(a) The Commission has power to take disciplinary action. Upon its own motion, or on the verified complaint of any person, the Commission may investigate...
- § 93A-55 Private enforcement
The provisions of the Article shall not be construed to limit in any manner the right of a purchaser or other person injured by a...
- § 93A-56 Penalty for violation of Article
Except as provided in G.S. 93A‑40(b) and G.S. 93A‑58, any person violating the provisions of this Article shall be guilty of a Class 1 misdemeanor....
- § 93A-57 Release of liens
(a) Prior to any recordation of the instrument transferring a time share, the developer shall record and furnish notice to the purchaser of a release...
- § 93A-58 Registrar required; criminal penalties; project broker
(a) Every developer of a registered project shall, by affidavit filed with the Commission, designate a natural person to serve as time share registrar for...
- § 93A-59 Preservation of time share purchaser's claims and defenses
(a) For one year following the execution of an instrument of indebtedness for the purchase of a time share, the purchaser of a time share...
- § 93A-60 through 93A-69 Reserved for future codification purposes
Article 5 - Real Estate Appraisers.
