Bill
Bill > SB2748
MS SB2748
MS SB2748Real estate brokers; revise various definitions and provisions related to licensees.
summary
Introduced
01/19/2026
01/19/2026
In Committee
02/16/2026
02/16/2026
Crossed Over
02/11/2026
02/11/2026
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
An Act To Amend Section 73-35-3, Mississippi Code Of 1972, To Define The Term "brokerage Agreement" And Revise Additional Definitions Related To Real Estate Brokers; To Amend Section 73-35-15, Mississippi Code Of 1972, To Provide That Upon Termination Of A Licensee's Agency, The Principal Broker Shall Within Three Days Acknowledge The Transfer Of The Licensee So That A New License May Be Issued; To Amend Section 73-35-17, Mississippi Code Of 1972, To Provide That Written Notice For The Purpose Of Notifying A Licensee Of Failure To Pay His Or Her Renewal Fee Shall Be Delivered To The Licensee And, If Applicable, To His Or Her Responsible Broker, To The Email Address For The Licensee And Broker On File With The Mississippi Real Estate Commission; To Amend Section 73-35-21, Mississippi Code Of 1972, To Change The Meaning Of "reasonable Time" From The Next Banking Day To Two Banking Days Immediately Following The Date On Which A Licensee Comes Into Possession Of Monies Belonging To Others Or On Which A Responsible Broker Takes Or Receives Any Cash Or Checks From Procuring The Execution Of An Earnest Money Contract Or Option Or Other Contract; And For Related Purposes.
AI Summary
This bill modifies various definitions and provisions related to real estate licensees in Mississippi, including defining a "brokerage agreement" as a specific written contract between a real estate broker and a consumer outlining the terms of services and compensation. It also clarifies that upon a licensee's agency termination, the principal broker must acknowledge the transfer within three days for a new license to be issued, and that written notice for renewal fee delinquency will be sent via email to the licensee and their responsible broker. Furthermore, the bill extends the timeframe for depositing funds belonging to others from the next banking day to two banking days following receipt, ensuring more time for proper handling of earnest money and other client funds.
Committee Categories
Business and Industry
Sponsors (2)
Last Action
Referred To Business and Commerce (on 02/16/2026)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://billstatus.ls.state.ms.us/2026/pdf/history/SB/SB2748.xml |
| BillText | https://billstatus.ls.state.ms.us/documents/2026/html/SB/2700-2799/SB2748PS.htm |
| BillText | https://billstatus.ls.state.ms.us/documents/2026/html/SB/2700-2799/SB2748CS.htm |
| BillText | https://billstatus.ls.state.ms.us/documents/2026/html/SB/2700-2799/SB2748IN.htm |
Loading...