Mississippi Real Estate Licensing Law

Mississippi Code · 61 sections

The following is the full text of Mississippi’s real estate licensing law statutes as published in the Mississippi Code. For the official version, see the Mississippi Legislature.

Miss. Code Ann. § 73-34-103

(1) It is unlawful for a person to directly or indirectly engage or attempt to engage in business as an appraisal management company in this state or to advertise or hold itself out as engaging in or conducting business as an appraisal management company in this state without first obtaining a registration issued by the Mississippi Real Estate Appraisal Board under the provisions of this chapter. (2) An applicant for registration as an appraisal management company in this state shall submit to the board an application on a form or forms prescribed by the board accompanied by an original or certified copy of a surety bond payable to the State of Mississippi in the amount of Twenty Thousand Dollars ($20,000.00) for the use, benefit and indemnity of any person who suffers any damage or loss as a result of the appraisal management company's breach of contract or of any obligation arising therefrom or any violation of law. (3) An application for the registration required by subsection (1) of this section shall, at a minimum, include: (a) The name of the person seeking registration and the fictitious name or names under which he does business in any state; (b) The business address of the entity seeking registration; (c) The phone contact information of the entity seeking registration; (d) If the person is not a corporation that is domiciled in this state, the name and contact information for the person's agent for service of process in this state; (e) The name, address, and contact information for any individual or any corporation, partnership, or other business entity that owns ten percent (10%) or more of the appraisal management company; (f) The name, address, and contact information for one (1) controlling person designated as the main contact for all communication between the appraisal management company and the board; (g) A certification that the person has a system and process in place to verify that a person being added to the appraiser panel of the appraisal management company holds a license in good standing in this state under the Real Estate Appraiser Licensing and Certification Act if a license or certification is required to perform appraisals; (h) A certification that the person requires appraisers completing appraisals at its request to comply with the Uniform Standards of Professional Appraisal Practice (USPAP), including the requirements for geographic and product competence; (i) A certification that the person has a system in place to verify that only licensed or certified appraisers are used for federally related transactions; (j) A certification that the person has a system in place to require that appraisals are conducted independently and free from inappropriate influence and coercion as required by the appraisal independence standards established under Section 129E of the Truth in Lending Act, including the requirements for payment of a reasonable and customary fee to appraisers when the appraisal management company is providing services for a consumer credit transaction secured by the principal dwelling of a consumer; (k) A certification that the person maintains a detailed record of each service request that it receives and the appraiser that performs the residential real estate appraisal services for the appraisal management company; (l) An irrevocable Consent to Service of Process required under Section 73-34-107 ; (m) Any other information required by the board which is reasonably necessary to implement Sections 73-34-101 through 73-34-131 . (3) An application for the renewal of a registration shall include substantially similar information required for the initial registration as noted in subsection (2), as determined by the board. (4) A registration granted by the board under the provisions of Sections 73-34-101 through 73-34-131 shall be valid for one (1) year from the date on which it is issued. (5) This section shall stand repealed on July 1, 2027. Laws, 2011, ch. 458, § 2, eff. 12/1/2013. Amended by Laws, 2023, ch. 501, SB 2673,§ 15, eff. 7/1/2023. Amended by Laws, 2022, ch. 327, SB 2039,§ 1, eff. 7/1/2022. Amended by Laws, 2019, ch. 387, SB 2451,§ 1, eff. 7/1/2019. Amended by Laws, 2016, ch. 347, HB 472, 1, eff. 7/1/2016.

Miss. Code Ann. § 73-34-105

(1) The provisions of Sections 73-34-101 through 73-34-131 shall not apply to an appraisal management company that is a subsidiary owned and controlled by a financial institution regulated by a federal financial institutions regulatory agency. (2) The provisions of Sections 73-34-101 through 73-34-131 shall not apply to a business entity that exclusively engages real estate appraisers on an employer and employee basis for the performance of all real property appraisal services in the normal course of its business, except to the extent that federal law or regulation requires such entities to register with and be subject to supervision by a state appraiser certifying and licensing agency. Laws, 2011, ch. 458, § 1, eff. 12/1/2013.

Miss. Code Ann. § 73-34-11

No person other than a licensed certified real estate appraiser under this chapter shall assume or use that title or any title, designation or abbreviation likely to create the impression of certification as a real estate appraiser by this state. An individual who has qualified as a licensed certified real estate appraiser under this chapter is authorized to prepare and sign a certified appraisal report relating to real estate or real property in this state. An individual who has not qualified as a licensed certified real estate appraiser under this chapter shall not prepare or sign any appraisal or appraisal report relating to real estate or real property in this state using the term "State Certified Appraisal Report" unless the report is also signed by a licensed certified real estate appraiser. Laws, 1990, ch. 576, § 6, eff. 7/1/1990.

Miss. Code Ann. § 73-34-129

(1) (a) An appraisal management company may not remove an appraiser from its appraiser panel, or otherwise refuse to assign requests for real estate appraisal services to an independent appraiser without: (b) Notifying the appraiser in writing of the reasons why the appraiser is being removed from the appraiser panel of the appraisal management company; (c) If the appraiser is being removed from the panel for illegal conduct, violation of USPAP, or a violation of state licensing standards, notifying the appraiser of the nature of the alleged conduct or violation; (d) Providing an opportunity for the appraiser to respond to the notification of the appraisal management company. (2) An appraiser who is removed from the appraiser panel of an appraisal management company for alleged illegal conduct, violation of USPAP, or violation of state licensing standards, may file a complaint with the board for a review of the decision of the appraisal management company. The scope of the board's review in any such case is limited to determining whether the appraisal management company has complied with subsection (1) and whether illegal conduct, a violation of USPAP, or a violation of state licensing standards has occurred. (3) If an appraiser files a complaint against an appraisal management company under subsection (2), the board shall adjudicate the complaint within one hundred eighty (180) days. (4) If after opportunity for hearing and review, the board determines that an appraisal management company acted improperly in removing the appraiser from the appraiser panel, or that the appraiser did not commit a violation of law, a violation of USPAP, or a violation of state licensing standards, the board shall: (i) Provide written findings to the involved parties; (ii) Provide an opportunity for the appraisal management company and/or the appraiser to respond to the findings; and (iii) Make recommendations for action. Laws, 2011, ch. 458, § 1, eff. 12/1/2013. Amended by Laws, 2023, ch. 501, SB 2673,§ 19, eff. 7/1/2023.

Miss. Code Ann. § 73-34-13

Applications for one (1) of the appraisal licenses, applications for renewal, applications to take an examination, and applications for registration as an appraisal management company shall be made in writing to the board on approved forms. The payment of the appropriate fee, as fixed under Section 73-34-45 , must accompany all applications for licensure and renewal thereof, all applications to take an examination and all applications for registration as an appraisal management company. At the time of filing an application for licensure under this chapter, for renewal, or for registration as an appraisal management company, each applicant shall sign a pledge to comply with the standards of professional appraisal practices that are established from time to time for licensed appraisers and for licensed certified real estate appraisers under this chapter. Each applicant shall also certify that he understands the types of misconduct, as set forth in this chapter, for which disciplinary proceedings may be initiated against a licensed appraiser or a licensed certified real estate appraiser. Each application or filing made under this section shall include the last four (4) digits of the applicant's social security number. Laws, 1990, ch. 576, § 7; Laws, 1993, ch. 559, § 4; Laws, 1997, ch. 588, § 58, eff. 7/1/1997. Amended by Laws, 2023, ch. 501, SB 2673,§ 6, eff. 7/1/2023. Amended by Laws, 2011, ch. 458, HB 1337, 19, eff. 12/1/2013.

Miss. Code Ann. § 73-34-14

(1) (a) To qualify for a Mississippi real estate appraiser license, an applicant must have successfully been cleared for licensure through an investigation that shall consist of a determination that the applicant does not possess a background which calls into question public trust, as set forth below in subsection (2), and verification that the prospective licensee is not guilty of or in violation of any statutory ground for denial of licensure as set forth in Section 73-34-35 . (b) To assist the board in conducting its licensure investigation, on and after January 1, 2015, all applicants for a real estate appraiser license as a licensed real estate appraiser (license), licensed certified residential real estate appraiser (certification), or a licensed certified general real estate appraiser (certification), and all applicants for renewal of any real estate appraiser license or certification shall undergo a fingerprint-based criminal history records check of the Mississippi central criminal database and the Federal Bureau of Investigation criminal history database. Each applicant shall submit a full set of the applicant's fingerprints in a form and manner prescribed by the board, which shall be forwarded to the Mississippi Department of Public Safety (department) and the Federal Bureau of Investigation Identification Division for this purpose. (c) Any and all state or national criminal history records information obtained by the board that is not already a matter of public record shall be deemed nonpublic and confidential information restricted to the exclusive use of the board, its members, officers, investigators, agents and attorneys in evaluating the applicant's eligibility or disqualification for licensure, and shall be exempt from the Mississippi Public Records Act of 1983. Except when introduced into evidence in a hearing before the board to determine licensure, no such information or records related thereto shall, except with the written consent of the applicant or by order of a court of competent jurisdiction, be released or otherwise disclosed by the board to any other person or agency. (d) The board shall provide to the department the fingerprints of the applicant, any additional information that may be required by the department, and a form signed by the applicant consenting to the check of the criminal records and to the use of the fingerprints and other identifying information required by the state or national repositories. (e) The board shall charge and collect from the applicant, in addition to all other applicable fees and costs, such amount as may be incurred by the board in requesting and obtaining state and national criminal history records information on the applicant. (2) (a) The board must ensure that applicants for a real estate appraiser license or certification do not possess a background that could call into question public trust. An applicant found by the board to possess a background which calls into question the applicant's ability to maintain public trust shall not be issued a real estate appraiser license or certification. (b) The board shall not issue a real estate appraiser license or certification if: (i) The applicant has had an appraiser license or certification revoked in any governmental jurisdiction within the five (5) year period immediately preceding the date of the application; (ii) The applicant has been convicted of, or pled guilty or nolo contendere to, a felony in a domestic, or foreign court: 1. During the five-year period immediately preceding the date of the application for licensing or certification; or 2. At any time preceding the date of the application, if such felony involved an act of fraud, dishonesty, or a breach of trust, or money laundering. (iii) The applicant has failed to demonstrate character and general fitness such as to command the confidence of the community and to warrant a determination that the appraiser will operate honestly, fairly and efficiently within the purpose of these criteria. (c) The board shall evaluate and consider, by rules and regulations, additional background issues, including, but not limited to, those required by the Appraiser Qualifications Board of the Appraisal Foundation in compliance with federal requirements, prior to issuing (or taking disciplinary action against) a real estate appraiser. (d) The board shall adopt rules and regulations necessary to implement, administer and enforce the provisions of this section. Added by Laws, 2014, ch. 363, SB 2475, 1, eff. 7/1/2014.

Miss. Code Ann. § 73-34-15

A person licensed as a real estate appraiser is authorized to appraise all types of real estate and real property in this state, including but not limited to, commercial, industrial, residential and special purpose, provided that such appraisal does not involve federally related transactions which would require a certified appraisal. Laws, 1990, ch. 576, § 8; Laws, 1993, ch. 559, § 5, eff. 4/9/1993. .

Miss. Code Ann. § 73-34-17

To qualify to be a licensed real estate appraiser, an applicant must: (a) Successfully complete the number and type of classroom hours or other educational qualifications that meet or exceed the qualifications required by the Appraiser Qualifications Board. (b) Provide evidence satisfactory to the board that the applicant has completed the number of hours of experience in performing appraisals over the specified number of calendar years that meet or exceed the number of hours of experience over the specified number of calendar years as required by the Appraiser Qualifications Board. (c) Pass any examination administered by the board or its designated agent that is consistent with other requirements of this chapter and approved by the Appraiser Qualifications Board when such approval is required. (d) Be trustworthy and competent to transact the business of real estate appraising. (e) Comply with such other requirements as may be prescribed by the board. The courses of study referred to in paragraph (a) above must (i) be conducted by an accredited university, college or junior college; (ii) be conducted by an approved appraisal society, institute or association; or (iii) be conducted by such other school as may be approved by the board; or (iv) consist of courses relating to appraisal education. Laws, 1990, ch. 576, § 9; Laws, 1993, ch. 559, § 6, eff. 4/9/1993. . Amended by Laws, 2023, ch. 501, SB 2673,§ 7, eff. 7/1/2023. Amended by Laws, 2019, ch. 390, SB 2697,§ 5, eff. 7/1/2019.

Miss. Code Ann. § 73-34-19

The following shall be the two (2) classes for licensed certified real estate appraisers: (a) Licensed certified residential real estate appraiser. The licensed certified residential real estate appraiser classification shall consist of those persons who meet the requirements that relate to the appraisal of residential real property of one (1) to four (4) units without regard to transaction value or complexity. In addition, when nonfederally related transactions are involved, the licensed certified residential real estate appraiser shall enjoy the same privileges as set forth for the licensed real estate appraiser. (b) Licensed certified general real estate appraiser. The licensed certified general real estate appraiser classification shall consist of those persons who meet the requirements relating to the appraisal of all types of real estate. Each application for licensing as a licensed certified real estate appraiser, or for the renewal of a license, and each application to take an examination, shall specify the classification of licensing being applied for and, if applicable, the class of license previously granted. Each applicant shall be trustworthy and competent to transact the business of real estate appraising and comply with such other requirements as may be prescribed by the board. Laws, 1990, ch. 576, § 10; Laws, 1993, ch. 559, § 7, eff. 4/9/1993. . Amended by Laws, 2014, ch. 400, SB 2537, 1, eff. 7/1/2014.

Miss. Code Ann. § 73-34-21

As a prerequisite to taking the examination for licensing as a licensed certified residential real estate appraiser or licensed certified general real estate appraiser, an applicant shall present acceptable evidence that such applicant has successfully completed: (a) The number and type of classroom hours or other educational qualifications that meet or exceed the qualifications required by the Appraiser Qualifications Board; and (b) The number of hours of experience in performing appraisals over the specified number of calendar years that meet or exceed the number of hours of experience over the specified number of calendar years as required by the Appraiser Qualifications Board. The board may adopt rules and regulations as may be necessary to implement the requirements established by the Appraiser Qualifications Board. Laws, 1990, ch. 576, § 11; Laws, 1993, ch. 559, § 8, eff. 4/9/1993. . Amended by Laws, 2019, ch. 390, SB 2697,§ 6, eff. 7/1/2019. Amended by Laws, 2014, ch. 363, SB 2475, 2, eff. 7/1/2014.

Miss. Code Ann. § 73-34-23

An original license as a licensed certified real estate appraiser shall not be issued to any person who has not demonstrated through a written examination process that he possesses the following: (a) Appropriate knowledge of technical terms commonly used in or related to real estate appraising, appraisal report writing and economic concepts applicable to real estate; (b) An understanding of the basic principles of land economics and the basic problems likely to be encountered in gathering, interpreting and processing the data that is required in the real estate appraisal process; (c) An understanding of the standards for the development and communication of real estate appraisals as provided in this chapter; (d) Knowledge of theories of depreciation, cost estimating, methods of capitalization, and the mathematics of real estate appraisal that are appropriate for the classification of licensure applied for; (e) Knowledge of such other principles and procedures as may be appropriate for the classification of licensure applied for; and (f) An understanding of the types of misconduct for which disciplinary proceedings may be initiated against a licensed certified real estate appraiser as set forth in this chapter. Laws, 1990, ch. 576, § 12, eff. 7/1/1990.

Miss. Code Ann. § 73-34-27

To obtain a renewal of any of the real estate appraisal licenses or a renewal of any registration issued under this chapter, the holder of a current, valid license or registration shall make application and pay the prescribed fee to the board not earlier than one hundred twenty (120) days nor later than the expiration date, as defined in Section 73-34-25 , of the license then held. Each application for renewal shall be accompanied by evidence, in the form prescribed by the board, of having completed the continuing education requirements for renewal specified in this chapter. If a licensed appraiser or licensed certified real estate appraiser under this chapter fails to renew his license, or an appraisal management company fails to renew its registration before its expiration or within any period of extension granted under this chapter, that person or company may obtain a renewal of their license or registration by satisfying all of the requirements for renewal and filing an application for renewal, accompanied by a late renewal fee, within sixty (60) days of the date that the license or registration expired. From and after January 1, 2015, all applicants for a real estate appraisal license renewal shall undergo a fingerprint-based criminal history records check of the Mississippi central criminal database and the Federal Bureau of Investigation criminal history database pursuant to the provisions of Section 73-34-14 . Laws, 1990, ch. 576, § 14; Laws, 1993, ch. 559, § 9, eff. 4/9/1993. . Amended by Laws, 2023, ch. 501, SB 2673,§ 8, eff. 7/1/2023. Amended by Laws, 2014, ch. 363, SB 2475, 3, eff. 7/1/2014. Amended by Laws, 2011, ch. 458, HB 1337, 21, eff. 12/1/2013.

Miss. Code Ann. § 73-34-3

As used in this chapter, the following terms and phrases shall have the following meanings unless the context clearly indicates otherwise: (a) "Appraisal" means an analysis, opinion or conclusion prepared by a real estate appraiser relating to the nature, quality, value or utility of specified interests in, or aspects of, identified real estate or identified real property performed in accordance with the Uniform Standards for Professional Appraisal Practice. An appraisal may be classified by the nature of the assignment into either a valuation assignment or an evaluation assignment. The term "valuation assignment" means an analysis, opinion or conclusion prepared by a real estate appraiser that estimates the value of an identified parcel of real estate or identified real property at a particular point in time. The term "evaluation assignment" means an analysis, opinion or conclusion prepared by a real estate appraiser that relates to the nature, quality or utility of identified real estate or identified real property. (b) "Appraisal report" means any communication, written or oral, of an appraisal. For the purposes of this chapter, the testimony of an appraiser dealing with the appraiser's analyses, conclusions or opinions concerning identified real property is deemed to be an oral appraisal report. (c) "Board" means the Mississippi Real Estate Appraisal Board that is established under the provisions of this chapter. (d) "Certified appraisal report" means an appraisal report given or signed and certified as such by a state certified real estate appraiser. When a state certified real estate appraiser identifies an appraisal report as "certified," such state certified real estate appraiser must indicate which type of certification he holds. The certification of an appraisal report by a state certified real estate appraiser represents to the public that it meets the appraisal standards established under this chapter. (e) "Licensed real estate appraiser" means a person who holds a current, valid appraisal license issued to him under the provisions of this chapter. (f) "Real estate or real property" means an identified parcel or tract of land, with improvements, and includes easements, rights-of-way, undivided or future interest, or similar rights in a tract of land, but does not include mineral rights, timber rights, growing crops, water rights, or similar interests severable from the land when the transaction does not involve the associated parcel or tract of land. (g) "Real estate appraisal activity" means the act or process of making an appraisal of real estate or real property and preparing an appraisal report. (h) "Real estate appraiser" means a person who engages in real estate appraisal activity for a fee or other valuable consideration. (i) "Real property" means one or more defined interests, benefits or rights inherent in the ownership of real estate. (j) "State certified real estate appraiser" means a person who holds a current, valid license as a real estate appraiser issued to him under the provisions of this chapter for certified real estate appraisers. (k) "Appraisal management company" or "AMC" means, in connection with valuing properties collateralizing mortgage loans or mortgages incorporated into a securitization, any external third party that oversees a network or panel of more than fifteen (15) certified or licensed appraisers in this state or twenty-five (25) or more nationally within a given year, that is authorized either by a creditor of a consumer credit transaction secured by a consumer's principal dwelling or by an underwriter of or other principal in the secondary mortgage markets to: (i) Recruit, select, and retain appraisers; (ii) Contract with licensed and certified appraisers to perform appraisal assignments; (iii) Manage the process of having an appraisal performed, including providing administrative duties such as receiving appraisal orders and appraisal reports, submitting completed appraisal reports to creditors and underwriters, collecting fees from creditors and underwriters for services provided, and reimbursing appraisers for services performed; or (iv) Review and verify the work of appraisers. (l) "Appraisal review" means the act or process of developing and communicating an opinion about the quality of another appraiser's work that was performed as part of an appraisal assignment, except that a quality control examination of an appraisal shall not be an appraisal review. (m) "Appraiser" means an individual who holds a license or certification as an appraiser and is expected to perform valuation services competently and in a manner that is independent, impartial and objective. (n) "Appraiser panel" means a network, list or roster of licensed or certified appraisers approved by an AMC to perform appraisals as independent contractors for the AMC. (o) "Controlling person" means: (i) An officer or director, or owner of greater than a ten percent (10%) interest, of a corporation, partnership or other business entity, seeking to act as an appraisal management company in this state; (ii) An individual employed, appointed, or authorized by an appraisal management company that has the authority to enter into a contractual relationship with other persons for the performance of services requiring registration as an appraisal management company and has the authority to enter into agreements with appraisers for the performance of appraisals; or (iii) An individual who possesses, directly or indirectly, the power to direct or cause the direction of the management or policies of an appraisal management company. (p) "Federal financial institutions regulatory agencies" means the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Office of Thrift Supervision, and the National Credit Union Administration. (q) "Federally related transaction" means any real estate-related financial transaction which a federal financial institutions regulatory agency or the Resolution Trust Corporation engages in, contracts for, or regulates, and which requires the services of an appraiser. (r) "Person" means an individual, firm, partnership, limited partnership, limited liability company, association, corporation, or other group engaged in joint-business activities, however organized. (s) "Quality control examination" means an examination of an appraisal report for compliance and completeness, including grammatical, mathematical, typographical or other similar errors. (t) "Real estate-related financial transaction" means any transaction involving: (i) The sale, lease, purchase, auction, investment in or exchange of real property, including interests in property, or the financing thereof; (ii) The refinancing of real property or interests in real property; and (iii) The use of real property or interests in property as security for a loan or investment, including mortgage-backed securities. (u) "Uniform Standards of Professional Appraisal Practice" means the current standards of the appraisal profession, developed for appraisers and users of appraisal services by the Appraisal Standards Board of the Appraisal Foundation. (v) "USPAP" means the Uniform Standards of Professional Appraisal Practice. (w) "Appraisal Foundation" means the Appraisal Foundation, as defined by 12 USC Section 3350 , or its successor. (x) "Appraisal Standards Board" means the Appraisal Standards Board of the Appraisal Foundation, or its successor. (y) "Appraisal Subcommittee" means the Appraisal Subcommittee of the Federal Financial Institutions Examination Council, or its successor. (z) "Appraiser Qualifications Board" means the Appraiser Qualifications Board of the Appraisal Foundation, or its successor. (aa) "Supervisory appraiser" means a supervisory appraiser as defined by the Appraiser Qualifications Board. (bb) "Trainee appraiser" means a trainee appraiser as defined by the Appraiser Qualifications Board. Laws, 1990, ch. 576, § 2; Laws, 1993, ch. 559, § 1, eff. 4/9/1993. . Amended by Laws, 2023, ch. 501, SB 2673,§ 2, eff. 7/1/2023. Amended by Laws, 2019, ch. 390, SB 2697,§ 2, eff. 7/1/2019. Amended by Laws, 2011, ch. 458, HB 1337, 17, eff. 12/1/2013.

Miss. Code Ann. § 73-34-31

The term "certified real estate appraiser" may only be used to refer to an individual who is a licensed certified real estate appraiser as provided by this chapter and may not be used following, or immediately in connection with, the name or signature of a firm, partnership, corporation or group, or in such manner that it might be interpreted as referring to a firm, partnership, corporation, group or to anyone other than the individual who is licensed as a licensed certified appraiser under this chapter. This requirement shall not be construed to prevent a licensed certified real estate appraiser from signing an appraisal report on behalf of a corporation, partnership, firm or group practice if it is clear that only the individual is licensed and that the corporation, partnership, firm or group practice is not. Laws, 1990, ch. 576, § 16, eff. 7/1/1990.

Miss. Code Ann. § 73-34-33

(1) As a prerequisite to renewal of license, an active status licensed appraiser shall present evidence satisfactory to the board that such appraiser has met the continuing education requirements of this section. The basic continuing education requirement for renewal of a license shall be completed by the applicant, during the immediately preceding term of licensure, of not less than twenty-one (21) class hours of instruction in courses or seminars which have received the approval of the board in addition to a seven (7) hour USPAP update course, for a total of twenty-eight (28) hours. Inactive status licensees are not required to meet the continuing education requirements specified in this section; however, such inactive licensees, before activating their license to active status, shall cumulatively meet the requirements missed during the period their license was inactive. (2) In lieu of meeting the requirements set forth above, an applicant for renewal may satisfy all or part of the requirements by presenting evidence of the following: (a) Completion of an educational program of study determined by the board to be equivalent, for continuing education purposes, to courses or seminars approved by the board; or (b) Participation, other than as a student, in educational processes and programs approved by the board which relate to real property appraisal theory, practices or techniques, including, but not necessarily limited to, teaching, program development and preparation of textbooks, monographs, articles and other instructional materials. (3) The board shall develop regulations for the implementation of the provisions of this section to ensure that an individual who renews his or her license as a licensed appraiser or as a licensed certified real estate appraiser under this chapter has a working knowledge of current real estate appraisal theories, practices and techniques that will enable him or her to provide competent real estate appraisal services to the members of the public with whom he or she deals in a professional relationship under the authority of his or her licensure. The regulations developed by the board shall prescribe the following: (a) Policies and procedures to be followed in obtaining board approval of courses of instruction and seminars; (b) Standards, policies and procedures to be used by the board in evaluating an applicant's claims of equivalency; and (c) Standards, monitoring methods, and systems for recording attendance to be employed by course and seminar sponsors as a prerequisite to board approval of courses and seminars for credit. In developing and proposing regulations under this section, the board shall give consideration to courses of instruction, seminars and other appraisal education programs developed by or under the authority of organizations or associations of professional real estate appraisers which are utilized by such organizations or associations for the purpose of awarding real estate appraisal designations or indicating compliance with the continuing education requirements of such organizations or associations. (4) No amendment or repeal of a regulation adopted by the board pursuant to this section shall operate to deprive a licensed appraiser or licensed certified real estate appraiser of credit toward renewal of such appraiser's license for any course of instruction or seminar that had been completed by such individual prior to the amendment or repeal of the regulation. Laws, 1990, ch. 576, § 17; Laws, 1993, ch. 559, § 10, eff. 4/9/1993. . Amended by Laws, 2019, ch. 390, SB 2697,§ 7, eff. 7/1/2019.

Miss. Code Ann. § 73-34-35

(1) An application for licensure or renewal may be denied, and the rights of any licensed appraiser or licensed certified real estate appraiser may be revoked or suspended, or the holder of the license may be otherwise disciplined, in accordance with the provisions of this chapter for any of the following acts or omissions: (a) Failing to meet the minimum qualifications for licensure established under this chapter; (b) Procuring or attempting to procure licensure under this chapter by knowingly making a false statement, submitting false information or making a material misrepresentation in an application filed with the board or procuring or attempting to procure licensure through any form of fraud or misrepresentation; (c) Paying money other than the fees provided for by this chapter to any member or employee of the board to procure licensure under this chapter; (d) An act or omission in the practice of real estate appraising which constitutes dishonesty, fraud or misrepresentation with the intent to substantially benefit the licensee or another person or with the intent to substantially injure another person; (e) Entry of a final civil or criminal judgment against a licensee on grounds of fraud, misrepresentation or deceit; (f) Conviction, including a conviction based upon a plea or finding of guilty, of a crime which is substantially related to the qualifications, functions or duties of a person developing real estate appraisals and communicating real estate appraisals to others; (g) Engaging in the business of real estate appraising under an assumed or fictitious name not properly registered in this state; (h) Paying a finder's fee or a referral fee; (i) Making a false or misleading statement in that portion of a written appraisal report that deals with professional qualifications or in any testimony concerning professional qualifications; (j) Issuing an appraisal on any real property in which the appraiser has an interest through fee simple ownership, leasehold, rental agreement or auction agreement; (k) Taking a listing for the sale of a property within ninety (90) days of appraising such property, except as may be otherwise agreed upon by all parties and disclosed in the listing agreement; or (l) Any act or conduct, whether the same or of a different character than specified above, which constitutes or demonstrates bad faith, incompetency or untrustworthiness; or dishonest, fraudulent or improper dealing; or any other violation of the provisions of this chapter and of rules and regulations established by the board. (2) In accordance with the laws of this state, and to the extent permitted by any applicable federal legislation or regulation, the board may censure an appraisal management company, conditionally or unconditionally suspend or revoke any registration issued under this chapter, or deny renewal of any registration issued under this chapter, or levy fines or impose civil penalties not to exceed Five Thousand Dollars ($5,000.00), if after appropriate investigation the board concludes that an appraisal management company is attempting to perform, has performed, or has attempted to perform any of the following acts: (a) Committed any act in violation of this chapter; (b) Violated any rule or regulation adopted by the board in the interest of the public and consistent with the provisions of this chapter; or (c) Procured a registration for itself or any other person by fraud, misrepresentation or deceit. (3) In order to promote voluntary compliance, encourage appraisal management companies to correct errors promptly, and ensure a fair and consistent approach to enforcement, the board is authorized to impose fines or civil penalties that are reasonable in light of the nature, extent and severity of the violation. The board is also authorized to take action against an appraisal management company's registration, if at all, only after less severe sanctions have proven insufficient to ensure behavior consistent with this chapter. When deciding whether to impose a sanction permitted by subsection (2), determining the sanction that is most appropriate in a specific instance, or making any other discretionary decision regarding the enforcement of this chapter, the board shall consider whether an appraisal management company: (a) Has an effective program reasonably designed to ensure compliance with this chapter; (b) Has taken prompt and appropriate steps to correct and prevent the recurrence of any detected violations; and (c) Has independently reported to the board any significant violations or potential violations of this chapter, before an imminent threat of disclosure or investigation and within a reasonably prompt time after becoming aware of their occurrence. (4) In addition to the reasons specified in subsection (1) of this section, the board shall be authorized to suspend the license of any licensee for being out of compliance with an order for support, as defined in Section 93-11-153 . The procedure for suspension of a license for being out of compliance with an order for support, and the procedure for the reissuance or reinstatement of a license suspended for that purpose, and the payment of any fees for the reissuance or reinstatement of a license suspended for that purpose, shall be governed by Section 93-11-157 or 93-11-163 , as the case may be. If there is any conflict between any provision of Section 93-11-157 or 93-11-163 and any provision of this chapter, the provisions of Section 93-11-157 or 93-11-163 , as the case may be, shall control. Laws, 1990, ch. 576, § 18; Laws, 1993, ch. 559, § 11; Laws, 1996, ch. 507, § 66, eff. 7/1/1996. Amended by Laws, 2023, ch. 501, SB 2673,§ 9, eff. 7/1/2023. Amended by Laws, 2011, ch. 458, HB 1337, 23, eff. 12/1/2013.

Miss. Code Ann. § 73-34-37

Each real estate appraiser licensed under this chapter must comply with generally accepted standards of professional appraisal practice and generally accepted ethical rules to be observed by a real estate appraiser. Generally accepted standards of professional appraisal practice are currently evidenced by the uniform standards of professional appraisal practice as directed by the Appraisal Subcommittee of the Federal Financial Institutions Examinations Council or its agent; however, after a public hearing held in accordance with the laws of this state applicable to public hearings, the board may make such modifications in excess of those standards as the board deems appropriate for this state. Laws, 1990, ch. 576, § 19, eff. 7/1/1990.

Miss. Code Ann. § 73-34-39

(1) A licensed real estate appraiser shall retain for a period of five (5) years the original or a true copy of: (a) each appraisal report prepared or signed by such real estate appraiser; and (b) all supporting data assembled and formulated by the appraiser in preparing each such appraisal report. (2) The five-year period for retention of records is applicable to each engagement of the services of the appraiser and shall commence upon the date of the delivery of each appraisal report to the client unless, within such five-year period, the appraiser is notified that the appraisal or the appraisal report is involved in litigation, in which event a minimum of a two-year period for the retention of records shall commence upon the date of the final disposition of such litigation. (3) Upon reasonable notice, a licensed real estate appraiser shall make all records required to be maintained under the provisions of this chapter available for inspection and copying by the board or its designated agent. Laws, 1990, ch. 576, § 20; Laws, 1993, ch. 559, § 12, eff. 4/9/1993. .

Miss. Code Ann. § 73-34-41

The board may investigate the actions of an individual licensed or entity registered under this chapter or an applicant for licensure, renewal or registration. Upon compliance with the procedural requirements set forth in this chapter, the board may revoke or suspend the license or otherwise discipline a licensed appraiser, licensed certified real estate appraiser or registered appraisal management company, or deny an application or registration, for any of the acts or omissions set forth in Section 73-34-35 . Upon receipt of information indicating that a licensed appraiser, licensed certified real estate appraiser or a registered appraisal management company may have committed a violation under Section 73-34-35 , the board may, upon compliance with the procedural requirements set forth in this chapter, revoke or suspend the license or otherwise discipline the licensee or registrant, or deny an application or registration, for any of the acts or omissions set forth in Section 73-34-35 . Upon receipt of information indicating that a licensed appraiser, licensed certified real estate appraiser or registered appraisal management company may have committed a violation under Section 73-34-35 , the board may cause one or more of the investigators on its staff to make an investigation of the facts to determine whether or not there is evidence of any such violation. If technical assistance is required, a staff investigator may consult with not more than two (2) of the voting members of the board. If a voting member of the board is consulted and renders assistance in an investigation, such member shall be excused from service on the board in connection with any administrative hearing that results from such investigation. In any investigation made by the board's investigative staff, the board shall have the power to compel the attendance of witnesses and the production of books, appraisal documents, records and other papers, the power to administer oaths, and the power to take testimony and receive evidence concerning all matters within its jurisdiction. If an investigation indicates that a licensed appraiser, licensed certified real estate appraiser or registered appraisal management company has committed a violation under Section 73-34-35 , a formal complaint shall be prepared by the board staff and served upon such real estate appraiser or appraisal management company in accordance with the rules of the board. This complaint shall require the accused party to file an answer to the complaint within twenty (20) days of the date of service. In responding to a complaint filed by the staff of the board, the accused party may admit the allegations of the complaint, deny the allegations of the complaint, or otherwise plead. Failure to make a timely response shall be deemed an admission of the allegations of the complaint. Upon completion of the investigation of the complaint, the board shall set a date, time and place for an administrative hearing on the complaint. Laws, 1990, ch. 576, § 21, eff. 7/1/1990. Amended by Laws, 2023, ch. 501, SB 2673,§ 10, eff. 7/1/2023. Amended by Laws, 2011, ch. 458, HB 1337, 24, eff. 12/1/2013.

Miss. Code Ann. § 73-34-43

If, at the conclusion of the hearing, the board determines that a licensed appraiser, licensed certified real estate appraiser or appraisal management company is guilty of a violation of any of the provisions of this chapter, it shall prepare a formal decision that shall contain findings of fact concerning the appropriate disciplinary action to be taken. The decision and order of the board shall be final. Any applicant, licensee, registrant or person aggrieved by a decision or order of the board shall have the right of appeal from such adverse order or decision of the board to the circuit court of the county of residence of the applicant, licensee, registrant or person, or of the First Judicial District of Hinds County, within thirty (30) days from the service of notice of the action of the board upon the parties in interest. Notice of appeals shall be filed in the office of the clerk of the court who shall issue an order directed to the board commanding it, within ten (10) days after service thereof, to certify to the court its entire record in the matter in which the appeal has been taken. The appeal shall thereupon be heard in due course by the court, without a jury, which shall review the record and make its determination of the cause between the parties. To be effective, an application for review made by an aggrieved party must be filed within thirty (30) days after the party's receipt of the final decision and order of the board. If an application is filed for review of a final decision and order of the board, the case shall be set for trial within sixty (60) days from the date of the filing of an answer for the board. If the court finds that the board has regularly pursued its authority and has not acted arbitrarily, it shall affirm the decision and order of the board. Actions taken by the board in suspending a license when required by Section 93-11-157 or 93-11-163 are not actions from which an appeal may be taken under this section. Any appeal of a license suspension that is required by Section 93-11-157 or 93-11-163 shall be taken in accordance with the appeal procedure specified in Section 93-11-157 or 93-11-163 , as the case may be, rather than the procedure specified in this section. Laws, 1990, ch. 576, § 22; Laws, 1996, ch. 507, § 67, eff. 7/1/1996. . Amended by Laws, 2011, ch. 458, HB 1337, 25, eff. 12/1/2013.

Miss. Code Ann. § 73-34-45

(1) The board shall charge and collect appropriate fees for its services under this chapter. The fees charged shall not exceed the amounts indicated below and shall be set by the board. Application and examination.................... $225.00 Application only.................... $175.00 Initial and renewal license.................... $325.00 Delinquent renewal penalty.................... 100% of renewal fee For each change of address.................... $ 25.00 For each duplicate license.................... $ 25.00 To change status as a licensee between active/inactive.................... $ 25.00 For each bad check received by the board.................... $ 25.00 (2) (a) The board shall establish the fee to be paid by each appraisal management company making application for registration under this chapter that is sufficient for the administration regulation and enforcement of the provisions of the Mississippi Appraisal Management Company Registration Act (Section 73-34-101 et seq.), but in no case shall the fee for initial registration be more than One Thousand Five Hundred Dollars ($1,500.00). (b) The board may establish a similar fee, not to exceed One Thousand Five Hundred Dollars ($1,500.00), for the renewal of any registration, and a delinquent renewal penalty not to exceed one hundred percent (100%) of the renewal fee. (3) The board by rule shall establish and collect from each appraisal management company (AMC) registered under this chapter the national registry fee required by the Appraisal Subcommittee for each person who is on the appraisal panel of the company and licensed or certified as an appraiser in this state. (a) Unless exempted under provisions of this chapter or federal law/regulation, the board shall collect from each appraisal management company operating in this state: (i) The national registry fee required by the Appraisal Subcommittee; (ii) Information necessary for the board to determine the national registry fee as required by the Appraisal Subcommittee; (iii) A fee in an amount that is sufficient for the administration of this subsection as established by board rule; and (iv) Any other information required by state or federal law. (b) The board shall deposit the national registry fees collected under this section into an account maintained only for purposes of collecting and disbursing the national registry fees collected pursuant to this subsection. (c) The national registry fees collected under this section shall be transmitted to the Appraisal Subcommittee regularly as required by the Appraisal Subcommittee and federal law. (d) The board may adopt such rules and regulations necessary to implement the requirements of this subsection. (4) The board may charge additional fees for its services which the board deems appropriate to carry out its intent and purpose. These additional fees shall not exceed the cost of rendering the service. (5) Except for those fees collected by the board as required for disbursement to national registries, all fees charged and collected under this chapter shall be paid by the board at least once a week, accompanied by a detailed statement thereof, to the credit of the fund known as the "Real Estate Appraisal License Fund," hereby created in the State Treasury. All monies which are collected under this chapter shall be paid into and credited to the fund for the use of the board in carrying out the provisions of this chapter, including the payment of salaries and expenses, printing an annual directory of licensees, and for educational purposes. The board shall prepare an annual statement of income and expenses related to its appraisal-related administrative function. Laws, 1990, ch. 576, § 23; Laws, 2011, ch. 458, § 26, eff. 12/1/2013; Laws, 2012, ch. 531, § 1, eff. 7/1/2012. Amended by Laws, 2023, ch. 501, SB 2673,§ 11, eff. 7/1/2023. Amended by Laws, 2019, ch. 390, SB 2697,§ 8, eff. 7/1/2019. Amended by Laws, 2014, ch. 400, SB 2537, 2, eff. 7/1/2014.

Miss. Code Ann. § 73-34-47

The board shall issue to each licensed appraiser or licensed certified real estate appraiser under this chapter a license evidencing such licensure. The board shall also issue a pocket card in such size and form as the board approves. A license issued under this chapter shall bear a license number assigned by the board. When signing an appraisal report or certified appraisal report, the licensee shall place such appraiser's license number adjacent to or immediately below the title of "licensed appraiser" or "licensed certified residential real estate appraiser" or "licensed certified general real estate appraiser" or "licensed timberland appraiser." Such license number shall also be used in all statements of qualification, contracts or other instruments used by the license holder when reference is made to such license holder's status as a licensed appraiser or licensed certified real estate appraiser. The license must bear the current physical address of the licensee's place of business, which shall be a room either in his or her home or an office elsewhere, to be used for the transaction of the appraisal business. In case of removal from the designated address, the licensee shall make application to the board before removal, or within ten (10) days after removal, designating the new location of such office, whereupon the board shall forthwith issue a new license for the new location. Licenses and pocket cards shall remain the property of the state; and, upon any suspension or revocation of a license pursuant to this chapter, the individual holding the related license and pocket card shall immediately return such license and pocket card to the board. The board shall maintain and keep open for public inspection during office hours a complete and properly indexed record of all applications for licensure received and licenses issued, renewed, revoked, cancelled or suspended under the provisions of this chapter. A copy of any such record, except pending investigation files, shall be made available to the public, upon application to the board, at such reasonable price per copy as may be fixed by the board. Laws, 1990, ch. 576, § 24; Laws, 1993, ch. 559, § 13, eff. 4/9/1993. . Amended by Laws, 2023, ch. 501, SB 2673,§ 12, eff. 7/1/2023.

Miss. Code Ann. § 73-34-49

The board shall prepare and issue at least once each calendar year a roster showing the name and place of business of each real estate appraiser currently licensed and appraisal management company registered under the provisions of this chapter. A copy of the roster shall be made available to the public, upon application to the board, at a reasonable price per copy as may be fixed by the board. The board shall send a copy of this list to the Appraisal Subcommittee of the Federal Financial Institutions Examination Council, or its designated agent. Laws, 1990, ch. 576, § 25, eff. 7/1/1990. Amended by Laws, 2023, ch. 501, SB 2673,§ 13, eff. 7/1/2023. Amended by Laws, 2011, ch. 458, HB 1337, 27, eff. 12/1/2013.

Miss. Code Ann. § 73-34-5

(1) Except as otherwise provided for in this section, it shall be unlawful for anyone to engage in real estate appraisal activity in this state without first obtaining one (1) of the three (3) real estate appraiser licenses as provided in this chapter. (a) Any person who is engaged in real estate appraisal activity on July 1, 1990, shall continue through June 30, 1991, to be subject to the provisions of the Real Estate Brokers License Law of 1954, but, thereafter, all real estate appraisal activity shall be governed by and licensed pursuant to the provisions of this chapter. However, if the United States Congress or the Appraisal Subcommittee of the Federal Financial Institutions Examination Council extends the effective date for the use of certified or licensed appraisers in federally related transactions, then the above date of June 30, 1991, shall be extended to the date immediately preceding such extended effective date. In addition, if such Appraisal Subcommittee waives any requirement relating to certification or licensing of persons to perform appraisals in Mississippi, then such waiver shall also be effective in Mississippi under the Real Estate Appraiser Licensing and Certification Act and such requirement shall be waived by the Real Estate Appraisal Board until the waiver is terminated by the Appraisal Subcommittee. The Mississippi Real Estate Appraisal Board shall waive or modify statutory minimum requirements for hours of courses of study and provide by regulation for applicants who desire to do so to challenge the examinations, or one or some of them, by taking an examination on such courses without actually taking such courses, if such waivers or modifications are allowed or allowable under law or regulations adopted and promulgated by the United States Congress or the Appraisal Subcommittee of the Federal Financial Institutions Examination Council. (b) The provisions of this chapter shall not apply to any director, officer or salaried employee of commercial banks, savings banks, credit unions, and savings and loan associations, when engaged in appraisal or evaluation activities for and on behalf of such financial institution unless there is a fee charged for the appraisal or evaluation; provided that a federal statute, rule or regulation does not require such appraisal or evaluation activities to be performed by a state licensed appraiser. (c) This section shall not be construed to apply to individuals who do not render significant professional assistance in arriving at a real estate appraisal analysis, opinion or conclusion. Examples of the type of assistance which are not considered "significant professional assistance" under this section include the following: (i) assistance in obtaining the data upon which the appraisal is based; (ii) assistance in the physical preparation of the appraisal report (such as taking photographs, preparing charts, maps or graphs, or typing or printing the report); and (iii) any other assistance that does not directly involve the exercise of judgment in arriving at the analysis, opinions or conclusions concerning real estate or real property set forth in the appraisal report. (2) The provisions of this chapter shall not apply to: (a) Any state, county, or municipal public officers or their salaried employees while performing their duties as such; (b) The employees of private firms engaged pursuant to Section 27-35-165(2)(a) who perform work under the direction of the county tax assessor; or (c) Private consultants hired pursuant to Section 27-35-165(2)(b) and all personnel employed or otherwise engaged by private consultants to appraise property who perform work under the direction of the county tax assessor. (3) No license shall be issued under the provisions of this chapter to a corporation, partnership, firm or group. (4) The provisions of this chapter shall not apply to individuals performing timber cruises, valuation on timberland real estate appraisals for nonfederally related transactions. (5) The provisions of this chapter shall not apply to real estate licensees who are on active status and who perform a broker price opinion pursuant to Section 73-35-4 . Laws, 1990, ch. 576, § 3; Laws, 1991, ch. 475, § 1; Laws, 1993, ch. 559, § 2; Laws, 2003, ch. 468, § 5, eff. 10/1/2003. Amended by Laws, 2023, ch. 501, SB 2673,§ 3, eff. 7/1/2023. Amended by Laws, 2019, ch. 390, SB 2697,§ 3, eff. 7/1/2019. Amended by Laws, 2011, ch. 464, HB 990, 1, eff. 7/1/2011.

Miss. Code Ann. § 73-34-51

(1) Each applicant for licensure under this chapter who is not a resident of this state shall submit, with his application, an irrevocable consent that legal action arising out of his activities as a real estate appraiser in this state may be commenced against him in the proper court of any county of this state in which a cause of action may arise or in which the plaintiff may reside by service of process or pleading authorized by laws of this state, by the Secretary of State, or by the administrator or director of the board. The consent shall stipulate that the service of process or pleading shall be taken in all courts to be valid and binding as if personal service had been made upon the nonresident licensee in this state. The consent shall be duly acknowledged. Every nonresident licensee shall consent to have any hearings conducted by the board pursuant to Section 73-34-35 at a place designated by the board. (2) Any service of process or pleading shall be served on the Mississippi Real Estate Appraisal Board by filing duplicate copies, one (1) of which shall be filed in the office of the board and the other forwarded by certified mail to the last-known principal address of the nonresident licensee against whom the process or pleading is directed. (3) If, in the determination of the board, another state or territory or the District of Columbia is deemed to have substantially equivalent licensure laws for real estate appraisers, an applicant for licensure in this state who is licensed under the law of such other state, territory or district may obtain a license as a real estate appraiser in this state upon such terms and conditions as may be determined by the board provided that disciplinary proceedings are not pending against such applicant in his state of licensure. The issuance of a license by reciprocity to a military-trained applicant, military spouse or person who establishes residence in this state shall be subject to the provisions of Section 73-50-1 or 73-50-2 , as applicable. Laws, 1990, ch. 576, § 26, eff. 7/1/1990. Amended by Laws, 2023, ch. 501, SB 2673,§ 14, eff. 7/1/2023. Amended by Laws, 2021, ch. 398, HB 1263,§ 29, eff. 7/1/2021. Amended by Laws, 2014, ch. 400, SB 2537, 3, eff. 7/1/2014. Amended by Laws, 2013, ch. 350, SB 2419, 32, eff. 7/1/2013.

Miss. Code Ann. § 73-34-55

No person shall bring or maintain an action in any court of this state for the recovery of a commission, fee or compensation for any act done or services rendered, the doing or rendering of which is prohibited under the provisions of this chapter for persons other than licensed real estate appraisers, unless such person was duly licensed as a real estate appraiser at the time of the doing of such act or the rendering of such service. Laws, 1990, ch. 576, § 28, eff. 7/1/1990.

Miss. Code Ann. § 73-34-7

(1) (a) There is hereby established a board to be known as the Mississippi Real Estate Appraisal Board, which shall consist of five (5) members. (b) The five (5) members shall be appointed by the Governor, with the advice and consent of the Senate, one (1) from each congressional district as such district existed on July 1, 2004, and one (1) from the state at large. The provisions of this paragraph (b) shall not affect persons who are members of the board as of January 1, 2023. Such member(s) shall serve out their respective terms, upon the expiration of which the provisions of this paragraph (b) shall take effect. Nothing provided herein shall be construed as prohibiting the reappointment of any member of the board. (c) At least two (2) members shall be certified general real estate appraisers and at least two (2) members shall be certified residential real estate appraisers. Not more than two (2) positions on the board shall be filled with appointees who hold membership in the same professional appraisal organization. Each member shall serve for a term of four (4) years. Upon the expiration of a member's term, such member shall continue to serve until the appointment and qualification of a successor. No person shall be appointed as a member of the board for more than three (3) consecutive terms. The Governor may remove an appointed member for cause. (2) The board shall meet not less than twice a calendar year. Written notice shall be given to each member of the time and place of each meeting of the board at least ten (10) days prior to the scheduled date of the meeting. (3) A quorum of the board shall be three (3) voting members, and at least one (1) present member must be a licensed certified general real estate appraiser or a certified residential real estate appraiser. Appointed members of the board are entitled to mileage and actual expenses as authorized by Section 25-3-41 and per diem as provided by Section 25-3-69 . (4) The board shall elect a chairman and such other officers as it deems necessary. Such officers shall serve as such for terms established by the board. Laws, 1990, ch. 576, § 4; Laws, 2004, ch. 412, § 1, eff. 7/1/2004. . Amended by Laws, 2023, ch. 501, SB 2673,§ 4, eff. 7/1/2023.

Miss. Code Ann. § 73-34-8

(1) Effective July 1, 2023, the Mississippi Real Estate Appraiser Licensing and Certification Board shall be separated from the Mississippi Real Estate Commission ("commission") and shall thereafter operate as an independent board to be known as the Mississippi Real Estate Appraisal Board ("board"). (2) The Mississippi Real Estate Commission and the Mississippi Real Estate Appraisal Board shall cooperate on the orderly transfer of functions and resources as provided under this chapter to ensure that by July 1, 2023, the Mississippi Real Estate Appraisal Board shall be fully functional and independent from the Real Estate Commission. (3) The Mississippi Real Estate Commission and the Mississippi Real Estate Appraisal Board shall comply with the provisions of Section 5-11-1 et seq., regarding the transfer of agency functions. (4) (a) The Mississippi State Personnel Board shall provide assistance to the commission and the board to ensure that all authorized positions of the Mississippi Real Estate Appraiser Licensing and Certification Board are identified and properly assigned to the Mississippi Real Estate Appraisal Board by July 1, 2023. (b) The Department of Finance and Administration shall assist the Mississippi Real Estate Appraisal Board in identifying office space appropriate to meet its needs in a state-owned office building if possible, and shall further provide any temporary accounting or other assistance to the board to assist the board in becoming operational and independent. (c) The Department of Information Technology Services shall provide assistance to the Mississippi Real Estate Appraisal Board to ensure that any and all computer systems, web pages and other information technology communications systems are operational by July 1, 2023. (d) Beginning on July 1, 2023, wherever the terms "Mississippi Real Estate Appraiser Licensing and Certification Board" or "board," when referring to the Mississippi Real Estate Appraiser Licensing and Certification Board, appear in any law, rule, regulation or document the same shall be construed to mean the Mississippi Real Estate Appraisal Board. Added by Laws, 2023, ch. 501, SB 2673,§ 1, eff. 7/1/2023.

Miss. Code Ann. § 73-34-9

(1) The board shall have the following powers and duties: (a) To receive applications for licensure as a real estate appraiser and applications for registration as an appraisal management company under this chapter; to establish appropriate administrative procedures for the processing of those applications; to approve or disapprove applications for licensing or registration under this chapter; to issue licenses to qualified applicants under the provisions of this chapter; and to maintain a registry of the names and addresses of individuals who are currently licensed under this chapter. (b) To administer licensing examinations in the places and at the times as may be required to carry out its responsibilities under this chapter. (c) To collect all licensing fees required or permitted by this chapter. (d) To take appropriate action upon a decision and the related findings of fact made by the board if, after an administrative hearing, the board (i) determines that a licensed appraiser or a licensed state certified real estate appraiser under this chapter has violated the standards of appraisal practice or ethical rules established under Section 73-34-37 , or has committed one or more of the acts that are prohibited by Section 73-34-35 , and (ii) recommends that the license of the appraiser be suspended or revoked, that renewal be denied, or that some other disciplinary action be taken. (e) To solicit bids and enter into contracts. (f) To promote research and conduct studies relating to the profession of real estate appraising and sponsor real estate appraisal educational activities. (g) To adopt rules and regulations for the administration of this chapter that are not inconsistent with the provisions of this chapter or the Constitution and laws of Mississippi or of the United States. (h) To employ an administrator or director who shall keep a record of all proceedings, transactions, communications and official acts of the board and perform any other duties as the board may require. (i) To employ an appropriate staff to investigate allegations that licensed appraisers or licensed state certified real estate appraisers under this chapter failed to comply with the terms or provisions of this chapter. (j) To employ any other professional, clerical and technical assistance as may be necessary to properly administer the work of this chapter. (k) To be responsible for matters relating to real estate appraisal standards, real estate appraiser qualifications, testing standards and appraisal management companies and enforce the same through its disciplinary functions. (l) To hold meetings; to hold public hearings and administrative hearings; and to prepare examination specifications for licensed appraisers and licensed state certified appraisers. (m) To enable the board to carry out its responsibilities under this chapter with respect to licensing and registering, the board shall have: (i) The power to compel the attendance of witnesses; (ii) The power to require a licensed appraiser or an applicant for licensure to produce books, appraisal documents, records and other papers; (iii) The power to administer oaths; and (iv) The power to take testimony and receive evidence concerning all matters within its jurisdiction. These powers may be exercised directly by the board in such manner as the board shall determine. (n) To establish appropriate administrative procedures for disciplinary proceedings conducted under the provisions of this chapter. (o) To keep a record of its proceedings and issue an annual report of its activities. (p) To further define by rule or regulation, and with respect to each of the categories of licensed appraiser, the type of educational experience, appraisal experience and equivalent experience that will meet the statutory requirements of this chapter and of the Appraiser Qualifications Board. (q) To approve or disapprove applications for licensing or registration under this chapter. (r) To suspend or revoke licenses or registrations under the disciplinary proceedings provided for in this chapter. (s) To present an annual budget to the Mississippi Legislature for approval. (t) To implement all requirements directed by the Appraiser Qualifications Board, Appraisal Subcommittee of the Federal Financial Institutions Examination Council or their designated agent. (u) To make rules and regulations providing for an inactive license or registration status and for the reactivation thereof. (v) To make rules and regulations necessary to implement its powers and duties under this chapter. (w) To do all other things necessary to carry out the provisions of this chapter. (x) To adopt rules consistent with the provisions of this chapter which may be reasonably necessary to implement, administer and enforce the provisions of this chapter. (y) To provide for at least one (1) member of the board to represent the appraisal management company industry. (z) To establish the standard for measuring residential properties up to four (4) family buildings as promulgated by the American National Standards Institute or as provided in the American Measurement Standard Manual. The board shall require appraisals required to use those standards to indicate on the appraisal or separately appended document which standard was used. (aa) To conduct surveys as necessary. (bb) To administer and enforce the provisions of Sections 73-60-1 through 73-60-47 regarding home inspectors. (2) The members of the board shall be immune from any civil action or criminal prosecution for initiating or assisting in any lawful investigation of the actions of or participating in any disciplinary proceeding concerning an appraiser licensed under this chapter, provided that the action is taken without malicious intent and in the reasonable belief that the action was taken in accordance with the powers and duties vested in the members of the board under this chapter. Laws, 1990, ch. 576, § 5; Laws, 1993, ch. 559, § 3, eff. 4/9/1993. . Amended by Laws, 2024, ch. 376, SB 2788,§ 21, eff. 7/1/2024. Amended by Laws, 2023, ch. 501, SB 2673,§ 5, eff. 7/1/2023. Amended by Laws, 2019, ch. 390, SB 2697,§ 4, eff. 7/1/2019. Amended by Laws, 2014, ch. 535, SB 2671, 1, eff. 7/1/2014. Amended by Laws, 2011, ch. 458, HB 1337, 18, eff. 12/1/2013.

Miss. Code Ann. § 73-35

(1) (a) In connection with any real estate transaction, the size or area, in square footage or otherwise, of the subject property, if provided by any real estate licensee in accordance with paragraph (b)(i) and (ii), shall not be considered any warranty or guarantee of the size or area information, in square footage or otherwise, of the subject property. (b) (i) If a real estate licensee provides any party to a real estate transaction with third-party information concerning the size or area, in square footage or otherwise, of the subject property involved in the transaction, the licensee shall identify the source of the information. (ii) For the purposes of this section, "third-party information" means: 1. An appraisal or any measurement information prepared by a licensed appraiser; 2. A surveyor developer's plan prepared by a licensed surveyor; 3. A tax assessor's public record; or 4. A builder's plan used to construct or market the property. (c) A real estate licensee has no duty to the seller or purchaser of real property to conduct an independent investigation of the size or area, in square footage or otherwise, of a subject property, or to independently verify the accuracy of any third-party information. (d) A real estate licensee who has complied with the requirements of this section, as applicable, shall have no further duties to the seller or purchaser of real property regarding disclosed or undisclosed property size or area information, and shall not be subject to liability to any party for any damages sustained with regard to any conflicting measurements or opinions of size or area, including exemplary or punitive damages. (2) (a) If a real estate licensee has provided third-party information to any party to a real estate transaction concerning size or area of the subject real property, a party to the real estate transaction may recover damages from the licensee in a civil action only when a licensee knowingly violates the duty to disclose the source of the information as required in this section. However, nothing in this section shall provide immunity from civil liability to any licensee who knowingly misrepresents the size or area of the subject real property. (b) The sole and exclusive civil remedy at common law or otherwise for a violation of this section by a real estate licensee shall be an action for actual damages suffered by the party as a result of such violation and shall not include exemplary or punitive damages. (c) For any real estate transaction commenced after the effective date of this section, any civil action brought pursuant to this section shall be commenced within two (2) years after the date of transfer of the subject real property. (d) In any civil action brought pursuant to this section, the prevailing party shall be allowed court costs and reasonable attorney fees to be set by the court and collected as costs of the action. (e) A transfer of a possessory interest in real property subject to the provisions of this section may not be invalidated solely because of the failure of any person to comply with the provisions of this section. (f) The provisions of this section shall apply to, regulate and determine the rights, duties, obligations and remedies, at common law or otherwise, of the seller marketing the seller's real property for sale through a real estate licensee, and of the purchaser of real property offered for sale through a real estate licensee, with respect to disclosure of third-party information concerning the subject real property's size or area, in square footage or otherwise, and this section hereby supplants and abrogates all common-law liability, rights, duties, obligations and remedies of all parties therefor. (3) Notwithstanding any other provision of law to the contrary, no real estate licensee shall have any duty or obligation nor be subject to discipline or other action of any kind by any licensing authority of the State of Mississippi, pertaining to information required to be disclosed by Sections 89-1-501 through 89-1-523 or delivery of information required to be disclosed by Sections 89-1-501 through 89-1-523 . (4) The Mississippi Real Estate Commission shall not promulgate any rule or regulation, nor make any administrative or other interpretation, whereby any real estate licensee may be held responsible or subject to discipline or other actions by the commission relating to the provisions of this section or the information required to be disclosed by Sections 89-1-501 through 89-1-523 or delivery of information required to be disclosed by Sections 89-1-501 through 89-1-523 . Amended by Laws, 2023, ch. 385, SB 2647,§ 1, eff. 3/14/2023. Added by Laws, 2013, ch. 500, SB 2171, 1, eff. 7/1/2013.

Miss. Code Ann. § 73-35-1

This chapter shall be known, and may be cited, as "the Real Estate Brokers License Law of 1954"; and from and after May 6, 1954, it shall be unlawful for any person, partnership, association or corporation to engage in or carry on, directly or indirectly, or to advertise or to hold himself, itself or themselves out as engaging in or carrying on the business, or act in the capacity of, a real estate broker, or a real estate salesperson, within this state, without first obtaining a license as a real estate broker or real estate salesperson as provided for in this chapter. Codes, 1942, § 8920-01; Laws, 1954, ch. 318, § 1; reenacted, Laws, 1980, ch. 499, § 1; Laws, 1988, ch. 477, § 1, eff. 1/1/1989.

Miss. Code Ann. § 73-35-10

(1) (a) To qualify for a Mississippi real estate broker's license or a Mississippi resident license as a real estate salesperson, or a nonresident's license in Mississippi, an applicant must have successfully been cleared for licensure through an investigation that shall consist of a determination that the applicant does not possess a background which calls into question public trust, as set forth below in subsection (2), and verification that the prospective licensee is not guilty of or in violation of any statutory ground for denial of licensure as set forth in Section 73-35-21 . (b) To assist the commission in conducting its licensure investigation, from and after July 1, 2016, all applicants for a Mississippi real estate broker's license, or a Mississippi resident license as a real estate salesperson, or a nonresident's license in Mississippi, and all applicants for renewal of any real estate license shall undergo a fingerprint-based criminal history records check of the Mississippi central criminal database and the Federal Bureau of Investigation criminal history database. Each applicant shall submit a full set of the applicant's fingerprints in a form and manner prescribed by the commission, which shall be forwarded to the Mississippi Department of Public Safety (department) and the Federal Bureau of Investigation Identification Division for this purpose. (c) Any and all state or national criminal history records information obtained by the commission that is not already a matter of public record shall be deemed nonpublic and confidential information restricted to the exclusive use of the commission, its members, officers, investigators, agents and attorneys in evaluating the applicant's eligibility or disqualification for licensure, and shall be exempt from the Mississippi Public Records Act of 1983. Except when introduced into evidence in a hearing before the commission to determine licensure, no such information or records related thereto shall, except with the written consent of the applicant or by order of a court of competent jurisdiction, be released or otherwise disclosed by the commission to any other person or agency. (d) The commission shall provide to the department the fingerprints of the applicant, any additional information that may be required by the department, and a form signed by the applicant consenting to the check of the criminal records and to the use of the fingerprints and other identifying information required by the state or national repositories. (e) The commission shall charge and collect from the applicant, in addition to all other applicable fees and costs, such amount as may be incurred by the commission in requesting and obtaining state and national criminal history records information on the applicant. (2) (a) The commission must ensure that applicants for real estate licenses do not possess a background that could call into question public trust. An applicant found by the commission to possess a background which calls into question the applicant's ability to maintain public trust shall not be issued a real estate license. (b) The commission shall not issue a real estate license if: (i) The applicant has had a real estate license revoked in any governmental jurisdiction within the five-year period immediately preceding the date of the application; (ii) The applicant has been convicted of, or pled guilty or nolo contendere to, a felony in a domestic or foreign court: 1. During the five-year period immediately preceding the date of the application for licensing; or 2. At any time preceding the date of the application, if such felony involved an act of fraud, dishonesty or a breach of trust, or money laundering. (c) The commission shall adopt rules and regulations necessary to implement, administer and enforce the provisions of this section. (d) The requirement of a criminal background check provided in this section shall not apply to persons who have held a broker's or salesperson's license in this state for at least twenty-five (25) years and who are older than seventy (70) years of age. Added by Laws, 2016, ch. 472, SB 2725, 1, eff. 7/1/2016.

Miss. Code Ann. § 73-35-103

As used in Sections 73-35-101 through 73-35-105 , the following terms shall have the meanings ascribed herein unless the context clearly indicates otherwise: (a) "Real estate broker" or "broker" means an individual, partnership or corporation licensed pursuant to Section 73-35-1 et seq., and as defined under Section 73-35-3(1) . (b) "IREBEA" means the program created and governed by Sections 73-35-101 through 73-35-105 . (c) "Interest earnings" means the total interest earnings generated by the IREBEA at each individual financial institution. (d) "Local affiliate of Habitat for Humanity International, Inc.," means an independently run 501(c)(3) organization that acts in partnership with and on behalf of Habitat for Humanity International, Inc., to coordinate all aspects of Habitat home building in a specific geographical area. (e) Local affiliate of Fuller Center for Housing, Inc., means an independently run 501(c)(3) organization that acts in partnership with and on behalf of Fuller Center for Housing, Inc., to coordinate all aspects of home building on behalf of the Fuller Center in a specific geographical area. (f) "Chair of real estate" means the endowment fund held and administered by any Mississippi university. For those universities which do not designate or which do not have a "chair of real estate," the term "chair of real estate" includes a professorship of real estate. Laws, 1993, ch. 408, § 2; Laws, 2004, ch. 412, § 5; Laws, 2010, ch. 539, § 1, eff. 4/27/2010.

Miss. Code Ann. § 73-35-105

(1) The IREBEA program shall be a voluntary program based upon willing participation by real estate brokers, whether proprietorships, partnerships or professional corporations. (2) IREBEA shall apply to all clients or customers of the participating brokers whose funds on deposit are either nominal in amount or to be held for a short period of time. (3) The following principles shall apply to clients' or customers' funds which are held by brokers who elect to participate in IREBEA: (a) No earnings on the IREBEA accounts may be made available to or utilized by a broker. (b) Upon the request of the client or customer, earnings may be made available to the client whenever possible upon deposited funds which are neither nominal in amount nor to be held for a short period of time; however, traditional broker-client or broker-customer relationships do not compel brokers either to invest clients' or customers' funds or to advise clients or customers to make their funds productive. (c) Clients' or customers' funds which are nominal in amount or to be held for a short period of time shall be retained in an interest-bearing checking or savings trust account with the interest, less any service charge or fees, made payable at least quarterly to any chair of real estate, local affiliate of Habitat for Humanity International, Inc., or local affiliate of Fuller Center for Housing, Inc. A separate accounting shall be made annually for all funds received. (d) The broker shall select in writing that the chair of real estate, local affiliate of Habitat for Humanity International, Inc., or local affiliate of Fuller Center for Housing, Inc., shall be the beneficiary of such funds for the interest earnings on such funds. The interest earnings shall not be divided between one or more beneficiaries. (e) The determination of whether clients' or customers' funds are nominal in amount or to be held for a short period of time rests in the sound judgment of each broker, and no charge of ethical impropriety or other breach of professional conduct shall attend a broker's exercise of judgment in that regard. (f) Notification to clients or customers whose funds are nominal in amount or to be held for a short period of time is unnecessary for those brokers who choose to participate in the program. Participation in the IREBEA program is accomplished by the broker's written notification to an authorized financial institution. That communication shall contain an expression of the broker's desire to participate in the program and, if the institution has not already received appropriate notification, advice regarding the Internal Revenue Service's approval of the taxability of earned interest or dividends to a chair of real estate, or a local affiliate of Habitat for Humanity International, Inc., or local affiliate of Fuller Center for Housing, Inc. (4) The following principles shall apply to those clients' or customers' funds held in trust accounts by brokers who elect not to participate in IREBEA: (a) No earnings from the funds may be made available to any broker. (b) Upon the request of a client or customer, earnings may be made available to the client or customer whenever possible upon deposited funds which are neither nominal in amount nor to be held for a short period of time; however, traditional broker-client or broker-customer relationships do not compel brokers either to invest clients' or customers' funds or to advise clients or customers to make their funds productive. (c) Clients' or customers' funds which are nominal in amount or to be held for short periods of time, and for which individual income generation allocation is not arranged with a financial institution, shall be retained in a noninterest-bearing demand trust account. (d) The determination of whether clients' or customers' funds are nominal in amount or to be held for a short period of time rests in the sound judgment of each broker, and no charge of ethical impropriety or other breach of professional conduct shall attend a broker's exercise of judgment in that regard. (5) The Mississippi Real Estate Commission shall adopt appropriate and necessary rules in compliance with the provisions of Sections 73-35-101 through 73-35-105 . Laws, 1993, ch. 408, § 3; Laws, 2004, ch. 412, § 6; Laws, 2010, ch. 539, § 2, eff. 4/27/2010.

Miss. Code Ann. § 73-35-11

It shall be unlawful for any licensed broker, salesperson or other person who is not licensed as a Mississippi resident or nonresident broker or salesperson and a licensed broker or licensed salesperson in this state to perform any of the acts regulated by this chapter, except that a licensed broker of another state who does not hold a Mississippi real estate license may cooperate with a licensed broker of this state provided that any commission or fee resulting from such cooperative negotiation shall be stated on a form filed with the commission reflecting the compensation to be paid to the Mississippi broker. Whenever a Mississippi broker enters into a cooperative agreement under this section, the Mississippi broker shall file within ten (10) days with the commission a copy of each such written agreement. By signing the agreement, the nonresident broker who is not licensed in this state agrees to abide by Mississippi law, and the rules and regulations of the commission; and further agrees that civil actions may be commenced against him in any court of competent jurisdiction in any county of this state in which a claim may arise. The Mississippi broker shall require a listing or joint listing of the property involved. The written cooperative agreements shall specify all material terms of each agreement, including but not limited to its financial terms. The showing of property located in Mississippi and negotiations pertaining thereto shall be supervised by the Mississippi broker. In all advertising of real estate located in Mississippi, the name and telephone number of the Mississippi broker shall appear and shall be given equal prominence with the name of the nonresident broker who is not licensed in this state. The Mississippi broker shall be liable for all acts of the above cooperating broker, as well as for his own acts, arising from the execution of any cooperative agreement. The Mississippi broker shall determine that the cooperating broker is licensed as a broker in another state. All earnest money pertaining to a cooperative agreement must be held in escrow by the Mississippi broker unless both the buyer and seller agree in writing to relieve the Mississippi broker of this responsibility. Codes, 1942, § 8920-06.5; Laws, 1960, ch. 117, § 6; Laws, 1979, ch. 493, § 1; reenacted, Laws, 1980, ch. 499, § 6; Laws, 1988, ch. 477, § 6; Laws, 1991, ch. 355, § 5; Laws, 1992, ch. 533, § 3, eff. 7/1/1992.

Miss. Code Ann. § 73-35-13

(1) In addition to proof of his honesty, trustworthiness and good reputation, the applicant shall take a written examination which shall be held at least four (4) times each year at regular intervals and on stated times by the commission and shall test reading, writing, spelling, elementary arithmetic and his general knowledge of the statutes of this state relating to real property, deeds, mortgages, agreements of sale, agency, contract, leases, ethics, appraisals, the provisions of this chapter and such other matters the commission certifies as necessary to the practice of real estate brokerage in the State of Mississippi. The examination for a broker's license shall differ from the examination for a salesperson's license, in that it shall be of a more exacting nature and require higher standards of knowledge of real estate. The commission shall cause examinations to be conducted at such times and places as it shall determine. (2) In event the license of any real estate broker or salesperson is revoked by the commission subsequent to the enactment of this chapter, no new license shall be issued to such person unless he complies with the provisions of this chapter. (3) No person shall be permitted or authorized to act as a real estate broker or salesperson until he has qualified by examination, except as hereinbefore provided. Any individual who fails to pass the examination for salesperson upon two (2) occasions, shall be ineligible for a similar examination, until after the expiration of three (3) months from the time such individual last took the examination. Any individual who fails to pass the broker's examination upon two (2) occasions, shall be ineligible for a similar examination until after the expiration of six (6) months from the time such individual last took the examination, and then only upon making application as in the first instance. (4) If the applicant is a partnership, association or corporation, the examination shall be taken on behalf of the partnership, association or corporation by the member or officer thereof who is designated in the application as the person to receive a license by virtue of the issuing of a license to such partnership, association or corporation. (5) Upon satisfactorily passing such examination and upon complying with all other provisions of law and conditions of this chapter, a license shall thereupon be issued to the successful applicant who, upon receiving such license, is authorized to conduct the business of a real estate broker or real estate salesperson in this state. (6) The commission is authorized to exempt from such examination, in whole or in part, a real estate licensee of another state who desires to obtain a license under this chapter, provided that the examination administered in the other state is determined by the commission to be equivalent to such examination given in this state and provided that such other state extends this same privilege or exemption to Mississippi real estate licensees. The issuance of a license by reciprocity to a military-trained applicant, military spouse or person who establishes residence in this state shall be subject to the provisions of Section 73-50-1 or 73-50-2 , as applicable. Codes, 1942, § 8920-07; Laws, 1954, ch. 318, § 7; Laws, 1955 Ex. Sess., ch. 94, § 2; Laws, 1979, ch. 493, § 2; reenacted, Laws, 1980, ch. 499, § 7; Laws, 1988, ch. 477, § 7; Laws, 1992, ch. 533, § 4; Laws, 1994, ch. 520, § 4; Laws, 2002, ch. 512, § 6, eff. 7/1/2002. Amended by Laws, 2021, ch. 398, HB 1263,§ 31, eff. 7/1/2021. Amended by Laws, 2013, ch. 350, SB 2419, 34, eff. 7/1/2013.

Miss. Code Ann. § 73-35-14

(1) An institution or organization desiring to conduct a school or offer a course of instruction to prepare persons to be licensed under this chapter, or to offer post-licensure courses, shall apply to the commission for accreditation, and shall submit evidence that it is prepared to carry out a prescribed minimum curriculum in real estate principles and practices as set forth in this chapter and can meet other standards established by the commission. An investigation of the school and of the institution or organization with which such school is affiliated shall be made by the commission. If, in the opinion of the commission, the requirements for an accredited school for instruction in real estate principles and practices are met, the commission shall approve the school as an accredited real estate school upon payment of the fees set forth in this chapter and such other fees as established by the commission. All schools so accredited shall register at required intervals on a form provided and pay the required registration fees specified in this chapter and such other fees as established by the commission. (2) The commission shall have the authority to revoke, suspend or otherwise discipline the accreditation of any real estate school, prelicense education provider or post-license education provider if the commission determines that the school or education provider is not meeting or has not met the standards required for such accreditation. If the commission determines that any accredited real estate school or education provider is not maintaining the standards required by the commission, notices thereof in writing specifying the defect or defects shall be given promptly to the school or provider. If such defect or defects are not remedied in the time specified by the commission, the commission shall hold a hearing to determine the disciplinary action, if any, to be taken. Such hearing will be noticed to the school or provider, who will be allowed to attend the hearing and present to the commission its reasons why it should not be disciplined. (3) A college or university in the State of Mississippi accredited by the Southern Association of Colleges and Schools or the comparable regional accrediting authority shall be an approved education provider for prelicense courses for both the broker's and salesperson's license by virtue of such accreditation. Such colleges and universities are not required to meet any other standards provided herein. Laws, 2002, ch. 512, § 7, eff. 7/1/2003.

Miss. Code Ann. § 73-35-15

(1) Every person, partnership, association or corporation licensed as a real estate broker shall be required to have and maintain a definite place of business, which shall be a room either in his home or an office elsewhere, to be used for the transaction of real estate business, or such business and any allied business. The certificate of registration as broker and the certificate of each real estate salesperson employed by such broker shall be prominently displayed in said office. The said place of business shall be designated in the license. In case of removal from the designated address, the licensee shall make application to the commission before removal, or within ten (10) days after removal, designating the new location of such office, whereupon the commission shall forthwith issue a new license for the new location for the unexpired period. (2) All licenses issued to a real estate salesperson or broker-salesperson shall designate the responsible broker of such salesperson or broker-salesperson. Prompt notice in writing, within three (3) days, shall be given to the commission by any real estate salesperson of a change of responsible broker, and of the name of the principal broker into whose agency the salesperson is about to enter; and a new license shall thereupon be issued by the commission to such salesperson for the unexpired term of the original license upon the return to the commission of the license previously issued. The change of responsible broker or employment by any licensed real estate salesperson without notice to the commission as required shall automatically cancel his license. Upon termination of a salesperson's agency, the responsible broker shall within three (3) days return the salesperson's license to the commission for cancellation. It shall be unlawful for any real estate salesperson to perform any of the acts contemplated by this chapter either directly or indirectly after his agency has been terminated and his license has been returned for cancellation until his license has been reissued by the commission. Codes, 1942, § 8920-08; Laws, 1954, ch. 318, § 8; reenacted, Laws, 1980, ch. 499, § 8; Laws, 1988, ch. 477, § 8; Laws, 1991, ch. 355, § 6; Laws, 2002, ch. 512, § 13, eff. 7/1/2002.

Miss. Code Ann. § 73-35-16

(1) The following words and phrases shall have the meanings ascribed herein unless the context clearly indicates otherwise: (a) "Aggregate limit" means a provision in an insurance contract limiting the maximum liability of an insurer for a series of losses in a given time period such as the policy term. (b) "Claims-made" means policies written under a claims-made basis which shall cover claims made (reported or filed) during the year the policy is in force for incidents which occur that year or during any previous period the policyholder was insured under the claims-made contract. This form of coverage is in contrast to the occurrence policy which covers today's incident regardless of when a claim is filed even if it is one or more years later. (c) "Extended reporting period" means a designated period of time after a claims-made policy has expired during which a claim may be made and coverage triggered as if the claim had been made during the policy period. (d) "Licensee" means any active individual broker, broker-salesperson or salesperson, any partnership or any corporation. (e) "Per-claim limit" means the maximum limit payable, per licensee, for damages arising out of the same error, omission or wrongful act. (f) "Prior acts coverage" applies to policies on a claims-made versus occurrence basis. Prior acts coverage responds to claims that are made during a current policy period, but the act or acts causing the claim or injuries for which the claim is made occurred prior to the inception of the current policy period. (g) "Proof of coverage" means a copy of the actual policy of insurance, a certificate of insurance or a binder of insurance. (h) "Retroactive date" means a provision, found in many claims-made policies, that the policy shall not cover claims for injuries or damages that occurred before the retroactive date even if the claim is first made during the policy period. (2) The following persons shall submit proof of insurance: (a) Any active individual broker, active broker-salesperson or active salesperson; (b) Any partnership (optional); or (c) Any corporation (optional). (3) Individuals whose licenses are on inactive status are not required to carry errors and omissions insurance. (4) All Mississippi licensees shall be covered for activities contemplated under this chapter. (5) Licensees may obtain errors and omissions coverage through the insurance carrier approved by the Mississippi Real Estate Commission and provided on a group policy basis. The following are minimum requirements of the group policy to be issued to the commission, including, as named insureds, all licensees who have paid their required premium: (a) All activities contemplated under this chapter are included as covered activities; (b) A per-claim limit is not less than One Hundred Thousand Dollars ($100,000.00); (c) An annual aggregate limit is not less than One Hundred Thousand Dollars ($100,000.00); (d) Limits apply per licensee per claim; (e) Maximum deductible is Two Thousand Five Hundred Dollars ($2,500.00) per licensee per claim for damages; (f) Maximum deductible is One Thousand Dollars ($1,000.00) per licensee per claim for defense costs; and (g) The contract of insurance pays, on behalf of the injured person(s), liabilities owed. (6) (a) The maximum contract period between the insurance carrier and the commission is to be five (5) consecutive policy terms, after which time period the commission shall place the insurance out for competitive bid. The commission shall reserve the right to place the contract out for bid at the end of any policy period. (b) The policy period shall be a twelve-month policy term. (c) The retroactive date for the master policy shall not be before July 1, 1994. (i) The licensee may purchase full prior acts coverage on July 1, 1994, if the licensee can show proof of errors and omissions coverage that has been in effect since at least March 15, 1994. (ii) If the licensee purchases full prior acts coverage on July 1, 1994, that licensee shall continue to be guaranteed full prior acts coverage if the insurance carriers are changed in the future. (iii) If the licensee was not carrying errors and omissions insurance on July 1, 1994, the individual certificate shall be issued with a retroactive date of July 1, 1994. This date shall not be advanced if the insurance carriers are changed in the future. (iv) For any new licensee who first obtains a license after July 1, 1994, the retroactive date shall be the effective date of licensure. (v) For any licensee who changes status of license from inactive to active, the retroactive date shall be the effective date of change to "active" licensure. (d) Each licensee shall be notified of the required terms and conditions of coverage for the policy at least thirty (30) days before the renewal date of the policy. A certificate of coverage, showing compliance with the required terms and conditions of coverage, shall be filed with the commission by the renewal date of the policy by each licensee who elects not to participate in the insurance program administered by the commission. (e) If the commission is unable to obtain errors and omissions insurance coverage to insure all licensees who choose to participate in the insurance program at a premium of no more than Two Hundred Fifty Dollars ($250.00) per twelve (12) months' policy period, the requirement of insurance coverage under this section shall be void during the applicable contract period. (7) Licensees may obtain errors and omissions coverage independently if the coverage contained in the policy complies with the following minimum requirements: (a) All activities contemplated under this chapter are included as covered activities; (b) A per-claim limit is not less than One Hundred Thousand Dollars ($100,000.00); (c) The deductible is not more than Two Thousand Five Hundred Dollars ($2,500.00) per licensee per claim for damages and the deductible is not more than One Thousand Dollars ($1,000.00) per licensee per claim for defense costs; and (d) If other insurance is provided as proof of errors and omissions coverage, the other insurance carrier shall agree to a noncancelable policy or to provide a letter of commitment to notify the commission thirty (30) days before the intention to cancel. (8) The following provisions apply to individual licensees: (a) The commission shall require receipt of proof of errors and omissions insurance from new licensees within thirty (30) days of licensure. Any licenses issued at any time other than policy renewal time shall be subject to a pro rata premium. (b) For licensees not submitting proof of insurance necessary to continue active licensure, the commission shall be responsible for sending notice of deficiency to those licensees. Licensees who do not correct the deficiency within thirty (30) days shall have their licenses placed on inactive status. The commission shall assess fees for inactive status and for return to active status when errors and omissions insurance has been obtained. (c) Any licensee insured in the state program whose license becomes inactive shall not be charged an additional premium if the license is reactivated during the policy period. (9) The commission is authorized to adopt such rules and regulations as it deems appropriate to handle administrative duties relating to operation of the program, including billing and premium collection. Laws, 1994, ch. 520, § 8; Laws, 2002, ch. 512, § 14; Laws, 2004, ch. 412, § 2; Laws, 2011, ch. 388, § 1, eff. 7/1/2011.

Miss. Code Ann. § 73-35-17

(1) A fee not to exceed One Hundred Dollars ($100.00) shall accompany an application for a real estate broker's license, and in the event that the applicant successfully passes the examination, no additional fee shall be required for the issuance of a license for a one-year period; provided, that if an applicant fails to pass the examination, he may be eligible to take the next or succeeding examination without the payment of an additional fee. In the event a contract testing service is utilized, the fee associated with administering the test shall be collected by the testing provider and the application fee for any real estate license shall be collected by the commission. (2) For each license as a real estate broker issued to a member of a partnership, association or officer of a corporation other than the member or officer named in the license issued to such partnership, association or corporation, a fee not to exceed Seventy-five Dollars ($75.00) shall be charged. (3) A fee not to exceed One Hundred Dollars ($100.00) shall accompany an application for a real estate salesperson's license, and in the event that the applicant successfully passes the examination, no additional fee shall be required for the issuance of a license for a one-year period; provided, that if an applicant fails to pass the examination, he may be eligible to take the next or succeeding examination without the payment of an additional fee. In the event a contract testing service is utilized, the fee associated with administering the test shall be collected by the testing provider and the application fee for any real estate license shall be collected by the commission. (4) Except as provided in Section 33-1-39 , it shall be the duty of all persons, partnerships, associations, companies or corporations licensed to practice as a real estate broker or salesperson to register with the commission annually or biennially, in the discretion of the commission, according to rules promulgated by it and to pay the proper registration fee. An application for renewal of license shall be made to the commission annually no later than December 31 of each year, or biennially on a date set by the commission. A licensee failing to pay his renewal fee after the same becomes due and after two (2) months' written notice of his delinquency mailed to him by United States certified mail addressed to his address of record with the commission shall thereby have his license automatically cancelled. Any licensee renewing in this grace period shall pay a penalty in the amount of one hundred percent (100%) of the renewal fee. The renewal fee shall not exceed Seventy-five Dollars ($75.00) per year for real estate brokers, partnerships, associations and corporations. The renewal fee for a real estate salesperson's license shall not exceed Sixty Dollars ($60.00) per year. (5) For each additional office or place of business, an annual fee not to exceed Fifty Dollars ($50.00) shall be charged. (6) For each change of office or place of business, a fee not to exceed Fifty Dollars ($50.00) shall be charged. (7) For each duplicate or transfer of salesperson's license, a fee not to exceed Fifty Dollars ($50.00) shall be charged. (8) For each duplicate license, where the original license is lost or destroyed, and affidavit made thereof, a fee not to exceed Fifty Dollars ($50.00) shall be charged. (9) To change status as a licensee from active to inactive status, a fee not to exceed Twenty-five Dollars ($25.00) shall be charged. To change status as a licensee from inactive to active status, a fee not to exceed Fifty Dollars ($50.00) shall be charged. (10) For each bad check received by the commission, a fee not to exceed Twenty-five Dollars ($25.00) shall be charged. (11) A fee not to exceed Five Dollars ($5.00) per hour of instruction may be charged to allay costs of seminars for educational purposes provided by the commission. (12) A fee not to exceed Twenty-five Dollars ($25.00) may be charged for furnishing any person a copy of a real estate license, a notarized certificate of licensure or other official record of the commission. (13) A fee not to exceed One Hundred Dollars ($100.00) shall be charged to review and process the application and instructional materials for each curriculum seeking acceptance as a real estate continuing education course developed to satisfy the mandatory continuing education requirements for this chapter, with the period of approval expiring after one (1) year. A fee not to exceed Fifty Dollars ($50.00) shall be charged for each renewal of a previously approved course, with the period of renewal expiring after one (1) year. (14) Fees, up to the limits specified herein, shall be established by the Mississippi Real Estate Commission. (15) The fees in subsections (1) and (2) of this section shall stand repealed from and after July 1, 2025. Codes, 1942, § 8920-09; Laws, 1954, ch. 318, § 9; Laws, 1955 Ex. Sess., ch. 94, § 3; Laws, 1960, ch. 395, § 2; Laws, 1976, ch. 445, § 2; reenacted, Laws, 1980, ch. 499, § 9; Laws, 1983, ch. 476, § 5, 1988, ch. 477, § 9; Laws, 1992, ch. 533, § 5; Laws, 1994, ch. 520, § 5; Laws, 1999, ch. 588, § 1; Laws, 2007, ch. 309, § 28; Laws, 2008, ch. 399, § 2, eff. 3/31/2008. Amended by Laws, 2023, ch. 531, SB 2616,§ 1, eff. 7/1/2023.

Miss. Code Ann. § 73-35-18

(1) Each individual applicant for renewal of a license issued by the Mississippi Real Estate Commission shall, on or before the expiration date of his license, or at a time directed by the commission, submit proof of completion of not less than sixteen (16) clock hours of approved course work to the commission, in addition to any other requirements for renewal. The sixteen (16) clock hours' course work requirement shall apply to each two-year license renewal, and hours in excess thereof shall not be cumulated or credited for the purposes of subsequent license renewals except as provided in this subsection (1). The commission shall develop standards for approval of courses and shall require certification of such course work of the applicant. The commission may determine any required subject matter within the mandated sixteen (16) hours; provided that the required subjects shall not exceed eight (8) hours of the total sixteen (16) hours. Approved continuing education hours earned in the final three (3) months of a licensee's renewal period, if in excess of the required minimum sixteen (16) hours, may be carried over and credited to the next renewal period. However, no more than six (6) hours may be carried over in this manner. Any member of the Mississippi Legislature who has a real estate license shall be credited with eight (8) hours of credit for the attendance of each year of a legislative session. No person may receive continuing education credit for prelicense education courses taken, except as follows: a licensee whose license is on inactive status and whose continuing education credits are at least thirty (30) hours in arrears may, at the discretion of the commission, receive continuing education credit for retaking prelicense coursework, provided the entire prelicense course is retaken. (2) This section shall apply to renewals of licenses which expire on and after July 1, 1994; however, an applicant for first renewal who has been licensed for not more than one (1) year shall not be required to comply with this section for the first renewal of the applicant's license. The provisions of this section shall not apply to persons who have held a broker's or salesperson's license in this state for at least twenty-five (25) years and who are at least sixty-five (65) years of age. Inactive licensees are not required to meet the real estate continuing education requirements specified in this section; however, such inactive licensees, before activating their license to active status, must cumulatively meet requirements missed during the period their license was inactive. (3) A renewal of a license issued by the commission which expires after June 30, 2019, must include a current email address for the applicant. Any email address previously provided by an applicant to the commission which is no longer valid or the primary email address of the applicant must be updated when a renewal application is submitted under this section. (4) The commission shall promulgate rules and regulations as necessary to accomplish the purposes of this section in accordance with the Mississippi Administrative Procedures Law. (5) [Repealed] Laws, 1985, ch. 314; Laws, 1988, ch. 477, § 10; Laws, 1989, ch. 357, § 1; Laws, 1992, ch. 533, § 6; Laws, 1994, ch. 520, § 6; Laws, 1999, ch. 588, § 2; Laws, 2002, ch. 512, § 15, eff. 7/1/2002. Amended by Laws, 2023, ch. 484, HB 1084,§ 2, eff. 4/17/2023. Amended by Laws, 2019, ch. 339, HB 1292,§ 2, eff. 7/1/2019.

Miss. Code Ann. § 73-35-19

All fees charged and collected under this chapter shall be paid by the administrator at least once a week, accompanied by a detailed statement thereof, into the treasury of the state to credit of a fund to be known as the "Real Estate License Fund," which fund is hereby created. All monies which shall be paid into the State Treasury and credited to the "Real Estate License Fund" are hereby appropriated to the use of the commission in carrying out the provisions of this chapter including the payment of salaries and expenses, printing an annual directory of licensees, and for educational purposes. Maintenance of a searchable, internet-based web site shall satisfy the requirement for publication of a directory of licensees under this section. Codes, 1942, § 8920-10; Laws, 1954, ch. 318, § 10; Laws, 1974, ch. 485, § 3; reenacted, Laws, 1980, ch. 499, § 10; Laws, 1999, ch. 588, § 3, eff. 1/1/2000.

Miss. Code Ann. § 73-35-21

(1) Except as otherwise provided in this section, the commission may, upon its own motion and shall upon the verified complaint in writing of any person, hold a hearing pursuant to Section 73-35-23 for the refusal of license or for the suspension or revocation of a license previously issued, or for such other action as the commission deems appropriate. The commission shall have full power to refuse a license for cause or to revoke or suspend a license where it has been obtained by false or fraudulent representation, or where the licensee in performing or attempting to perform any of the acts mentioned herein, is deemed to be guilty of: (a) Making any substantial misrepresentation in connection with a real estate transaction; (b) Making any false promises of a character likely to influence, persuade or induce; (c) Pursuing a continued and flagrant course of misrepresentation or making false promises through agents or salespersons or any medium of advertising or otherwise; (d) Any misleading or untruthful advertising; (e) Acting for more than one (1) party in a transaction or receiving compensation from more than one (1) party in a transaction, or both, without the knowledge of all parties for whom he or she acts; (f) Failing, within a reasonable time, to account for or to remit any monies coming into his or her possession which belong to others, or commingling of monies belonging to others with his own funds. Every responsible broker procuring the execution of an earnest money contract or option or other contract who shall take or receive any cash or checks shall deposit, within a reasonable period of time, the sum or sums so received in a trust or escrow account in a bank or trust company pending the consummation or termination of the transaction. "Reasonable time" in this context means by the close of business of the next banking day; (g) Entering a guilty plea or conviction in a court of competent jurisdiction of this state, or any other state or the United States of any felony; (h) Displaying a "for sale" or "for rent" sign on any property without the owner's consent; (i) Failing to furnish voluntarily, at the time of signing, copies of all listings, contracts and agreements to all parties executing the same; (j) Paying any rebate, profit or commission to any person other than a real estate broker or salesperson licensed under the provisions of this chapter; (k) Inducing any party to a contract, sale or lease to break such contract for the purpose of substituting in lieu thereof a new contract, where such substitution is motivated by the personal gain of the licensee; (l) Accepting a commission or valuable consideration as a real estate salesperson for the performance of any of the acts specified in this chapter from any person, except his or her employer who must be a licensed real estate broker; (m) Failing to successfully pass the commission's background investigation for licensure or renewal as provided in Section 73-35-10 ; or (n) Any act or conduct, whether of the same or a different character than hereinabove specified, which constitutes or demonstrates bad faith, incompetency or untrustworthiness, or dishonest, fraudulent or improper dealing. However, simple contact and/or communication with any mortgage broker or lender by a real estate licensee about any professional, including, but not limited to, an appraiser, home inspector, contractor, and/or attorney regarding a listing and/or a prospective or pending contract for the lease, sale and/or purchase of real estate shall not constitute conduct in violation of this section. (2) No real estate broker shall practice law or give legal advice directly or indirectly unless said broker be a duly licensed attorney under the laws of this state. He or she shall not act as a public conveyancer nor give advice or opinions as to the legal effect of instruments nor give opinions concerning the validity of title to real estate; nor shall he or she prevent or discourage any party to a real estate transaction from employing the services of an attorney; nor shall a broker undertake to prepare documents fixing and defining the legal rights of parties to a transaction. However, when acting as a broker, he or she may use an earnest money contract form. A real estate broker shall not participate in attorney's fees, unless the broker is a duly licensed attorney under the laws of this state and performs legal services in addition to brokerage services. (3) It is expressly provided that it is not the intent and purpose of the Mississippi Legislature to prevent a license from being issued to any person who is found to be of good reputation, is able to give bond, and who has lived in the State of Mississippi for the required period or is otherwise qualified under this chapter. (4) In addition to the reasons specified in subsection (1) of this section, the commission shall be authorized to suspend the license of any licensee for being out of compliance with an order for support, as defined in Section 93-11-153 . The procedure for suspension of a license for being out of compliance with an order for support, and the procedure for the reissuance or reinstatement of a license suspended for that purpose, and the payment of any fees for the reissuance or reinstatement of a license suspended for that purpose, shall be governed by Section 93-11-157 or 93-11-163 , as the case may be. If there is any conflict between any provision of Section 93-11-157 or 93-11-163 and any provision of this chapter, the provisions of Section 93-11-157 or 93-11-163 , as the case may be, shall control. (5) Nothing in this chapter shall prevent an associate broker or salesperson from owning any lawfully constituted business organization, including, but not limited to, a corporation, limited liability company or limited liability partnership, for the purpose of receiving payments contemplated in this chapter. The business organization shall not be required to be licensed under this chapter and shall not engage in any other activity requiring a real estate license. (6) The Mississippi Real Estate Commission shall not promulgate any rule or regulation, nor make any administrative or other interpretation, whereby any real estate licensee may be held responsible or subject to discipline or other actions by the commission relating to the information required to be disclosed by Sections 89-1-501 through 89-1-523 or delivery of information required to be disclosed by Sections 89-1-501 through 89-1-523 . (7) The Mississippi Real Estate Commission shall not promulgate nor enforce any rule or regulation, nor make any administrative or other interpretation, whereby any real estate licensee may be required to include in any agreement or otherwise be required to agree to any requirement regarding unilateral termination by a buyer-agency agreement. Codes, 1942, § 8920-11; Laws, 1954, ch. 318, § 11; Laws, 1974, ch. 485, § 4; reenacted, Laws, 1980, ch. 499, § 11; Laws, 1983, ch. 476, § 2; Laws, 1988, ch. 477, § 11; Laws, 1991, ch. 355, § 7; Laws, 1992, ch. 533, § 7; Laws, 1994, ch. 520, § 7; Laws, 1996, ch. 507, § 68; Laws, 2004, ch. 412, § 3, eff. 7/1/2004. Amended by Laws, 2024, ch. 423, HB 1271,§ 1, eff. 4/23/2024. Amended by Laws, 2023, ch. 385, SB 2647,§ 8, eff. 3/14/2023. Amended by Laws, 2022, ch. 302, SB 2097,§ 3, eff. 2/2/2022. Amended by Laws, 2016, ch. 472, SB 2725, 4, eff. 7/1/2016.

Miss. Code Ann. § 73-35-23

(1) The commission is hereby authorized and directed to take legal action against any violator of this chapter. Upon complaint initiated by the commission or filed with it, the licensee or any other person charged with a violation of this chapter shall be given fifteen (15) days' notice of the hearing upon the charges filed, together with notice of the option of appearing before the commission or an administrative hearing officer as provided in subsection (7) of this section, and a copy of the complaint. The applicant or licensee or other violator shall have an opportunity to be heard in person or by counsel, to offer testimony, and to examine witnesses appearing in connection with the complaint. Hearings shall be held at the offices of the Mississippi Real Estate Commission, or at the commission's sole discretion, at a place determined by the commission. At such hearings, all witnesses shall be properly sworn and stenographic notes of the proceedings shall be taken and filed as a part of the record in the case. Any party to the proceedings shall be furnished with a copy of such stenographic notes upon payment to the commission of such fees as it shall prescribe, not exceeding, however, the actual cost to the commission. The preponderance of evidence standard of proof shall be used to examine factors during all hearings. The commission shall render a decision on any complaint and shall immediately notify the parties to the proceedings in writing of its ruling, order or decision. (2) In addition to the authority granted to the commission as hereinabove set forth, the commission is hereby vested with the authority to bring injunctive proceedings in any appropriate forum against any violator or violators of this chapter, and all judges or courts now having the power to grant injunctions are specifically granted the power and jurisdiction to hear and dispose of such proceedings. (3) The commission is hereby authorized and empowered to issue subpoenas for the attendance of witnesses and the production of books and papers. The process issued by the commission shall extend to all parts of the state, and such process shall be served by any person designated by the commission for such service. The person serving such process may receive such compensation as may be allowed by the commission, not to exceed the fee prescribed by law for similar services. All witnesses who are subpoenaed and who appear in any proceedings before the commission may receive the same fees and mileage as allowed by law, and all such fees shall be taxed as part of the costs in the case. (4) Where in any proceeding before the commission any witness shall fail or refuse to attend upon subpoena issued by the commission, shall refuse to testify, or shall refuse to produce any books and papers the production of which is called for by the subpoena, the attendance of such witness and the giving of his testimony and the production of the books and papers shall be enforced by any court of competent jurisdiction of this state in the same manner as the attendance and testimony of witnesses in civil cases are enforced in the courts of this state. (5) The commission may obtain legal counsel privately to represent it in proceedings when legal counsel is required. (6) No commissioner, administrator, employee, investigator, representative or agent of the commission shall communicate with a licensee in connection with any preliminary or formal investigation associated with alleged violations of licensing law or regulations prior to the delivery of written notice to the licensee's responsible broker. Any licensee represented by legal counsel shall be entitled to communication through such legal counsel unless waived in writing by the licensee. (7) The commission shall establish an administrative hearing option by July 1, 2022, which shall consist of administrative hearing officers designated by the Attorney General for the purpose of holding hearings, hearing evidence and rendering decisions on matters determined to be the subject of a hearing for a licensee or any other person charged with a violation of this chapter or affecting the license of any person coming under its jurisdiction, when the licensee or any other person charged with a violation of this chapter shall request, in writing, for the matter to be heard by the administrative hearing officer. Administrative hearing officers shall be staff attorneys employed by the Attorney General's office, but must not currently hold a license issued by the commission. The administrative hearing officers shall have the same powers and authority in conducting hearings and rendering decisions as granted to the commission in this section. Hearings before an administrative hearing officer shall be held in the City of Jackson, Mississippi, at a place, time and manner agreed upon by the commission and the hearing officer. The preponderance of evidence standard of proof shall be used to examine factors during all hearings. Any right of appeal available to a licensee or applicant for a license availing itself to the provisions hereof shall be preserved as if the matter had been heard and decided by the commission. (8) Nothing in this section shall preclude the commission and a licensee from entering into an agreed order resolving a complaint prior to the hearing. Codes, 1942, § 8920-12; Laws, 1954, ch. 318, § 12; Laws, 1960, ch. 395, § 3; Laws, 1974, ch. 485, § 5; Laws, 1979, ch. 493, § 3; reenacted, Laws, 1980, ch. 499, § 12; Laws, 1988, ch. 477, § 12; Laws, 1992, ch. 533, § 8; Laws, 2002, ch. 512, § 16, eff. 7/1/2002. Amended by Laws, 2022, ch. 302, SB 2097,§ 1, eff. 2/2/2022.

Miss. Code Ann. § 73-35-27

(1) The commission is hereby authorized to assist in conducting or holding real estate courses or institutes, and to incur and pay the necessary expenses in connection therewith, which courses or institutes shall be open to any licensee or other interested parties. (2) The commission is hereby authorized to assist libraries, real estate institutes, and foundations with financial aid, or otherwise, in providing texts, sponsoring studies, surveys and educational programs for the benefit of real estate and the elevation of the real estate business. Codes, 1942, § 8920-14; Laws, 1954, ch. 318, § 14; Laws, 1960, ch. 395, § 5; reenacted, Laws, 1980, ch. 499, § 14; Laws, 1988, ch. 477, § 14, eff. 1/1/1989.

Miss. Code Ann. § 73-35-3

(1) The term "real estate broker" within the meaning of this chapter shall include all persons, partnerships, associations and corporations, foreign and domestic, who for a fee, commission or other valuable consideration, or who with the intention or expectation of receiving or collecting the same, list, sell, purchase, exchange, rent, lease, manage or auction any real estate, or the improvements thereon, including options; or who negotiate or attempt to negotiate any such activity; or who advertise or hold themselves out as engaged in such activities; or who direct or assist in the procuring of a purchaser or prospect calculated or intended to result in a real estate transaction. The term "real estate broker" shall also include any person, partnership, association or corporation employed by or on behalf of the owner or owners of lots or other parcels of real estate, at a stated salary or upon fee, commission or otherwise, to sell such real estate, or parts thereof, in lots or other parcels, including timesharing and condominiums, and who shall sell, exchange or lease, or offer or attempt or agree to negotiate the sale, exchange or lease of, any such lot or parcel of real estate. (2) The term "real estate" as used in this chapter shall include leaseholds as well as any and every interest or estate in land, including timesharing and condominiums, whether corporeal or incorporeal, freehold or nonfreehold, and whether said property is situated in this state or elsewhere; provided, however, that the term "real estate" as used in this chapter shall not include oil, gas or mineral leases, nor shall it include any other mineral leasehold, mineral estate or mineral interest of any nature whatsoever. (3) One (1) act in consideration of or with the expectation or intention of, or upon the promise of, receiving compensation, by fee, commission or otherwise, in the performance of any act or activity contained in subsection (1) of this section, shall constitute such person, partnership, association or corporation a real estate broker and make him, them or it subject to the provisions and requirements of this chapter. (4) The term "real estate salesperson" shall mean and include any person employed or engaged by or on behalf of a licensed real estate broker to do or deal in any activity as included or comprehended by the definitions of a real estate broker in subsection (1) of this section, for compensation or otherwise. (5) The term "automated valuation method" means any computerized model used by mortgage originators and secondary market issuers to determine the collateral worth of a mortgage secured by a consumer's principal dwelling. (6) The term "broker price opinion" means an estimate prepared by a real estate broker, agent, or salesperson that details the probable selling price of a particular piece of real estate property and provides a varying level of detail about the property's condition, market, and neighborhood, and information on comparable sales, but does not include an automated valuation model. (7) Exempt from the licensing requirements of this chapter shall be any person, partnership, association or corporation, who, as a bona fide owner, shall perform any aforesaid act with reference to property owned by them, or to the regular employees thereof who are on a stated salary, where such acts are performed in the regular course of business. (8) The provisions of this chapter shall not apply to: (a) Attorneys at law in the performance of primary or incidental duties as such attorneys at law. (b) Any person holding in good faith a duly executed power of attorney from the owner, authorizing the final consummation and execution for the sale, purchase, leasing or exchange of real estate. (c) The acts of any person while acting as a receiver, trustee, administrator, executor, guardian or under court order, or while acting under authority of a deed of trust or will. (d) Public officers while performing their duties as such. (e) Anyone dealing exclusively in oil and gas leases and mineral rights. (9) Nothing in this chapter shall be construed to prohibit life insurance companies and their representatives from negotiating or attempting to negotiate loans secured by mortgages on real estate, nor shall these companies or their representatives be required to qualify as real estate brokers or agents under this chapter. (10) The provisions of this chapter shall not apply to the activities of mortgagees approved by the Federal Housing Administration or the United States Department of Veterans Affairs, banks chartered under the laws of the State of Mississippi or the United States, savings and loan associations chartered under the laws of the State of Mississippi or the United States, licensees under the Small Loan Regulatory Law, being Sections 75-67-101 through 75-67-135 , and under the Small Loan Privilege Tax Law, being Sections 75-67-201 through 75-67-243 , small business investment companies licensed by the Small Business Administration and chartered under the laws of the State of Mississippi, or any of their affiliates and subsidiaries, related to the making of a loan secured by a lien on real estate or to the disposing of real estate acquired by foreclosure or in lieu of foreclosure or otherwise held as security. No director, officer or employee of any such financial institution shall be required to qualify as a real estate broker or agent under this chapter when engaged in the aforesaid activities for and on behalf of such financial institution. Codes, 1942, § 8920-02; Laws, 1954, ch. 318, § 2; Laws, 1976, ch. 408; reenacted and amended, Laws, 1980, ch. 499, § 2; Laws, 1983, ch. 476, § 3; Laws, 1985, ch. 304; Laws, 1988, ch. 477, § 2; Laws, 1991, ch. 355, § 1; Laws, 1992, ch. 533, § 1; Laws, 1994, ch. 520, § 1; Laws, 2002, ch. 512, § 1; Laws, 2011, ch. 464, § 2, eff. 7/1/2011.

Miss. Code Ann. § 73-35-31

(1) Any person violating a provision of this chapter shall, upon conviction of a first violation thereof, if a person, be punished by a fine or not less than Five Hundred Dollars ($500.00) nor more than One Thousand Dollars ($1,000.00), or by imprisonment for a term not to exceed ninety (90) days, or both; and if a corporation, be punished by a fine of not more than Two Thousand Dollars ($2,000.00). Upon conviction of a second or subsequent violation, if a person, shall be punished by a fine of not less than One Thousand Dollars ($1,000.00) nor more than Two Thousand Dollars ($2,000.00), or by imprisonment for a term not to exceed six (6) months, or both; and if a corporation, be punished by a fine of not less than Two Thousand Dollars ($2,000.00) nor more than Five Thousand Dollars ($5,000.00). Any officer or agent of a corporation, or any member or agent of a partnership or association, who shall personally participate in or be accessory to any violation of this chapter by such corporation, partnership or association, shall be subject to the penalties herein prescribed for individuals. (2) In case any person, partnership, association or corporation shall have received any sum of money, or the equivalent thereto, as commission, compensation or profit by or in consequence of his violation of any provision of this chapter, such person, partnership, association or corporation shall also be liable to a penalty of not less than the amount of the sum of money so received and not more than four (4) times the sum so received, as may be determined by the court, which penalty may be sued for and recovered by any person aggrieved and for his use and benefit, in any court of competent jurisdiction. (3) No fee, commission or other valuable consideration may be paid to a person for real estate brokerage activities as described in subsection (1) of Section 73-35-3 unless the person provides evidence of licensure under the provisions of this chapter or provides evidence of a cooperative agreement provided under the authority of Section 73-35-11 . Codes, 1942, § 8920-16; Laws, 1954, ch. 318, § 16; Laws, 1976, ch. 357; reenacted, Laws, 1980, ch. 499, § 16; Laws, 2005, ch. 374, § 1, eff. 7/1/2005.

Miss. Code Ann. § 73-35-33

(1) No person, partnership, association or corporation shall bring or maintain an action in any court of this state for the recovery of a commission, fee or compensation for any act done or services rendered, the doing or rendering of which is prohibited under the provisions of this chapter for persons other than licensed real estate brokers, unless such person was duly licensed hereunder as a real estate broker at the time of the doing of such act or the rendering of such service. (2) No real estate salesperson shall have the right to institute suits in his own name for the recovery of a fee, commission or compensation for services as a real estate salesperson, but any such action shall be instituted and brought by the broker employing such salesperson. However, any real estate salesperson shall have the right to bring an action in his own name if the action is against the broker employing such salesperson for the recovery of any fees owed to him. Codes, 1942, § 8920-17; Laws, 1954, ch. 318, § 17; reenacted, Laws, 1980, ch. 499, § 17; Laws, 1988, ch. 477, § 16; Laws, 1992, ch. 533, § 9, eff. 7/1/1992.

Miss. Code Ann. § 73-35-35

(1) The commission may act by a majority of the members thereof, and authority is hereby given to the commission to adopt, fix and establish all rules and regulations in its opinion necessary for the conduct of its business, the holdings of hearings before it, and otherwise generally for the enforcement and administration of the provisions of this chapter. Further, the commission is empowered with the authority to adopt such rules and regulations as it deems appropriate to regulate the sale of timesharing and condominium properties within the State of Mississippi and the sale of timesharing and condominium properties in other states to residents of Mississippi. (2) Beginning on July 1, 2019, the commission shall provide notice by email to each real estate broker and real estate salesperson who has provided an email address to the commission under Section 73-35-9 or 73-35-18 of each proposed rule or regulation change or adoption. The notice required under this subsection must be given on no less than three (3) separate occasions during the notice period prescribed under the Mississippi Administrative Procedures Law (Chapter 43, Title 25, Mississippi Code of 1972). Codes, 1942, § 8920-18; Laws, 1954, ch. 318, § 18; reenacted, Laws, 1980, ch. 499, § 18; Laws, 1983, ch. 476, § 4, eff. 7/1/1983. Amended by Laws, 2019, ch. 339, HB 1292,§ 3, eff. 7/1/2019.

Miss. Code Ann. § 73-35-4

(1) A person licensed under this chapter may prepare a broker's price opinion and charge and collect a fee for such opinion if: (a) The license of that licensee is active and in good standing; and (b) The broker's price opinion meets the requirements of subsections (3) and (4) of this section. (2) Notwithstanding any provision to the contrary, a person licensed under this chapter may prepare a broker's price opinion for: (a) An existing or potential seller for the purposes of listing and selling a parcel of real property; (b) An existing or potential buyer of a parcel of real property; (c) A third party making decisions or performing due diligence related to the potential listing, offering, sale, exchange, option, lease or acquisition price of a parcel of real property; or (d) An existing or potential lienholder or other third party for any purpose other than as the basis to determine the value of a parcel of real property, for a mortgage loan origination, including first and second mortgages, refinances, or equity lines of credit. (e) The provisions of this subsection do not preclude the preparation of a broker's price opinion to be used in conjunction with or in addition to an appraisal. (3) A broker's price opinion prepared under the authority granted in this section shall be in writing and shall conform to the standards and guidelines published by a nationally recognized association of providers of broker price opinions. The Mississippi Real Estate Commission shall promulgate regulations that are consistent with, but not limited to, the standards and guidelines of a nationally recognized association of providers of broker price opinions. (4) A broker's price opinion shall be in writing and contain the following: (a) A statement of the intended purpose of the price opinion; (b) A brief description of the subject property and property interest to be priced; (c) The basis of reasoning used to reach the conclusion of the price, including the applicable market data and/or capitalization computation; (d) Any assumptions or limiting conditions; (e) A disclosure of any existing or contemplated interest of the broker or salesperson issuing the opinion; (f) The effective date of the price opinion; (g) The name and signature of the broker or salesperson issuing the price opinion; (h) The name of the real estate brokerage firm for which the broker or salesperson is acting; (i) The signature date; (j) A disclaimer stating that, "This opinion is not an appraisal of the market value of the property, and may not be used in lieu of an appraisal. If an appraisal is desired, the services of a licensed or certified appraiser must be obtained. This opinion may not be used by any party as the primary basis to determine the value of a parcel of real property for a mortgage loan origination, including first and second mortgages, refinances or equity lines of credit."; and (k) A certification that the licensee is covered by errors and omissions insurance, to the extent required by state law, for all liability associated with the preparation of the broker's price opinion. (5) If a broker's price opinion is submitted electronically or on a form supplied by the requesting party: (a) A signature required by paragraph (g) of subsection (4) may be an electronic signature, as defined in Section 75-12-3 . (b) A signature required by paragraph (g) of subsection (4) and the disclaimer required by paragraph (j) of subsection (4) may be transmitted in a separate attachment if the electronic format or form supplied by the requesting party does not allow additional comments to be written by the licensee. The electronic format or the form supplied by the requesting party must: (i) Reference the existence of a separate attachment; and (ii) Include a statement that the broker's price opinion is not complete without the attachment. (6) Notwithstanding any provisions to the contrary, a person licensed pursuant to this chapter may not prepare a broker's price opinion for any purpose in lieu of an appraisal when an appraisal is required by federal or state statute. A broker's price opinion which estimates value or worth of a parcel of real estate rather than sales price shall be deemed to be an appraisal and may not be prepared by a licensed broker or sales agent under the authority of their license but may only be prepared by a duly licensed appraiser and must meet the regulations promulgated by the Mississippi Real Estate Appraisal Board. A broker's price opinion may not under any circumstances be referred to as a valuation or appraisal. Laws, 2011, ch. 464, § 3, eff. 7/1/2011. Amended by Laws, 2023, ch. 501, SB 2673,§ 23, eff. 7/1/2023.

Miss. Code Ann. § 73-35-5

(1) There is hereby created the Mississippi Real Estate Commission. The commission shall consist of five (5) persons, to be appointed by the Governor with the advice and consent of the Senate. Each appointee shall have been a resident and citizen of this state for at least six (6) years prior to his appointment, and his vocation for at least five (5) years shall have been that of a real estate broker. One (1) member shall be appointed for the term of one (1) year; two (2) members for terms of two (2) years; two (2) members for terms of four (4) years; thereafter, the term of the members of said commission shall be for four (4) years and until their successors are appointed and qualify. There shall be one (1) commissioner from each Supreme Court District, as such districts are constituted at the time of appointment, and two (2) from the state at large. The commissioners appointed from each of the Supreme Court Districts shall be bona fide residents of the district from which each is appointed, and the commissioners appointed from the state at large shall be bona fide residents of the State of Mississippi. Members to fill vacancies shall be appointed by the Governor for the unexpired term. The Governor may remove any commissioner for cause. The State of Mississippi shall not be required to furnish office space for such commissioners. The provisions of this section shall not affect persons who are members of the Real Estate Commission as of January 1, 2002. Such members shall serve out their respective terms, upon the expiration of which the provisions of this section shall take effect. Nothing provided herein shall be construed as prohibiting the reappointment of any member of the said commission. (2) The Mississippi Real Estate Commission, created by former Section 73-35-5 , is continued and reconstituted as follows: Effective January 1, 2028, the members designated in subsection (1) of this section shall be appointed by the Governor, with the advice and consent of the Senate, provided that three (3) such members shall be appointed in 2028 to a term ending December 31, 2031, and two (2) such members shall be appointed in 2030 to a term ending December 31, 2033. Appointments made at the beginning of the four-year cycle shall be made to fill any member's term which actually expires that year and any member's term which expires next until the majority of the membership of the board or commission is reached. Appointments made at the beginning of the third year of the four-year cycle shall be made for the remainder of the membership positions irrespective of the time of their prior appointment. Any question regarding the order of appointments shall be determined by the Secretary of State in accordance with the specific statute. All appointment procedures, vacancy provisions, interim appointment provisions and removal provisions specifically provided for in Section 7-1-35 , Mississippi Code of 1972, shall be fully applicable to appointments to the Mississippi Real Estate Commission. (3) The commission shall organize by selecting from its members a chairman, and may do all things necessary and convenient for carrying into effect the provisions of this chapter, and may from time to time promulgate rules and regulations. Each member of the commission shall receive per diem as authorized in Section 25-3-69 , Mississippi Code of 1972, and his actual and necessary expenses incurred in the performance of duties pertaining to his office as authorized in Section 25-3-41 , Mississippi Code of 1972. (4) The commission shall adopt a seal by which it shall authenticate its proceedings. Copies of all records and papers in the office of the commission, duly certified and authenticated by the seal of said commission, shall be received in evidence in all courts equally and with like effect as the original. All records kept in the office of the commission under the authority of this chapter shall be open to public inspection except pending investigative files. (5) The board is authorized to appoint an executive director for a term of four (4) years, with the advice and consent of the Senate, and consistent with the provisions of Section 7-1-35 , Mississippi Code of 1972. Codes, 1942, § 8920-03; Laws, 1954, ch. 318, § 3; Laws, 1955, Ex. Sess. ch. 94, § 1; Laws, 1974, ch. 485, § 1; reenacted and amended, Laws, 1980, ch. 499, § 3; Laws, 1988, ch. 477, § 3; Laws, 1991, ch. 355, § 2; Laws, 2002, ch. 512, § 2, eff. 7/1/2002. Amended by Laws, 2024, ch. 497, SB 2799,§ 12, eff. 5/8/2024.

Miss. Code Ann. § 73-35-6

A corporation, partnership, company or association shall be granted a license when individual broker's licenses have been issued to every member, owner, partner or officer of such partnership, company, association or corporation who actively participates in its brokerage business and when any required fee is paid. Laws, 2002, ch. 512, § 3, eff. 7/1/2002.

Miss. Code Ann. § 73-35-7

Licenses shall be granted only to persons who present, and to corporations, partnerships, companies or associations whose officers, associates or partners present satisfactory proof to the commission that they are trustworthy and competent to transact the business of a real estate broker or real estate salesperson in such manner as to safeguard the interests of the public. Except as otherwise provided in this section, every person who applies for a resident license as a real estate broker: (a) shall be age twenty-one (21) years or over, and have his legal domicile in the State of Mississippi at the time he applies; (b) shall be subject to the jurisdiction of this state, subject to the income tax laws and other excise laws thereof, subject to the road and bridge privilege tax laws thereof; (c) shall not be an elector in any other state; (d) shall have held a license as an active real estate salesperson for twelve (12) months prior to making application for the broker's examination hereafter specified; (e) shall have successfully completed a minimum of one hundred twenty (120) hours of courses in real estate as hereafter specified; (f) shall have successfully completed the real estate broker's examination as hereafter specified; and (g) shall have successfully been cleared for licensure by the commission's background investigation as provided in Section 73-35-10 ; and (h) sign a form under penalty of perjury stating that the applicant will not hire any real estate salespersons for thirty-six (36) months from the date of approval of his or her active real estate salesperson's license. The real estate commission shall create a standard form to comply with the requirements of this section. Upon completion of such restriction provided in this paragraph (h) of this section, the real estate broker is authorized to employ any number of real estate salespersons. The provisions of paragraph (h) shall not apply to an applicant who seeks to hire a real estate salesperson in less than thirty-six (36) months from the date of approval of his or her active real estate salesperson's license. Any person who desires to hire a real estate salesperson in less than thirty-six (36) months from the date of approval of his or her active real estate salesperson's license shall: (a) be age twenty-one (21) years or over, and have his or her legal domicile in the State of Mississippi at the time he or she applies; (b) be subject to the jurisdiction of this state, subject to the income tax laws and other excise laws thereof, subject to the road and bridge privilege tax laws thereof; (c) not be an elector in any other state; (d) have held a license as an active real estate salesperson for thirty-six (36) months prior to making application for the broker's examination hereafter specified; (e) have successfully completed a minimum of one hundred twenty (120) hours of courses in real estate as hereafter specified; (f) have successfully completed the real estate broker's examination as hereafter specified; and (g) have successfully been cleared for licensure by the commission's background investigation as provided in Section 73-35-10 . An applicant who has not held an active real estate salesperson's license for a period of at least thirty-six (36) months prior to submitting an application shall have successfully completed a minimum of one hundred fifty (150) classroom hours in real estate courses, which courses are acceptable for credit toward a degree at a college or university as approved by the Southern Association of Colleges and Schools. Every applicant for a resident license as a real estate salesperson shall be age eighteen (18) years or over, shall be a bona fide resident of the State of Mississippi prior to filing his application, shall have successfully completed a minimum of sixty (60) hours in courses in real estate as hereafter specified, and shall have successfully completed the real estate salesperson's examination as hereafter specified. The residency requirements set forth in this section shall not apply to those licensees of other states who qualify and obtain nonresident licenses in this state. The commission is authorized to exempt from such prelicensing educational requirements, in whole or in part, a real estate licensee of another state who desires to obtain a license under this chapter, provided that the prelicensing educational requirements in the other state are determined by the commission to be equivalent to prelicensing educational requirements in this state and provided that such state extends this same privilege or exemption to Mississippi real estate licensees. The issuance of a license by reciprocity to a military-trained applicant, military spouse or person who establishes residence in this state shall be subject to the provisions of Section 73-50-1 or 73-50-2 , as applicable. Codes, 1942, § 8920-04; Laws, 1954, ch. 318, § 4; Laws, 1960, ch. 395, § 1; Laws, 1974, ch. 485, § 2; Laws, 1976, ch. 445, § 1; reenacted and amended, Laws, 1980, ch. 499, § 4; Laws, 1983, ch. 476, § 1; Laws, 1988, ch. 477, § 4; Laws, 1991, ch. 355, § 3; Laws, 1992, ch. 533, § 2; Laws, 1994, ch. 520, § 2; Laws, 2002, ch. 512, § 4, eff. 7/1/2002. Amended by Laws, 2021, ch. 398, HB 1263,§ 30, eff. 7/1/2021. Amended by Laws, 2020, ch. 355, HB 1212,§ 1, eff. 7/1/2020. Amended by Laws, 2016, ch. 472, SB 2725, 2, eff. 7/1/2016. Amended by Laws, 2013, ch. 350, SB 2419, 33, eff. 7/1/2013.

Miss. Code Ann. § 73-35-8

(1) A nonresident may apply for a nonresident's license in Mississippi provided the individual is (a) a licensed broker in another state, or (b) is a broker/salesperson or salesperson affiliated with a resident or nonresident Mississippi broker, or (c) is a nonresident who applies for a broker's license and who will maintain an office in Mississippi. The nonresident broker need not maintain a place of business within Mississippi provided he is regularly actively engaged in the real estate business and maintains a place of business in the other state. The nonresident licensee or applicant shall be subject to all the provisions of this chapter, except for the residency requirement and approved equivalent prelicensing education. (2) Every nonresident applicant shall file a statement of irrevocable consent with the Real Estate Commission that legal actions may be commenced against him in the proper court of any county of this state in which a cause of action may arise or in which the plaintiff may reside by service of process or pleading authorized by the laws of this state, by the Secretary of State of Mississippi, or by any member of the commission or chief executive officer thereof, the consent stipulating that the service of process or pleading shall be taken in all courts to be valid and binding as if personal service had been made upon the nonresident licensee in this state. The consent shall be duly acknowledged. Every nonresident licensee shall consent to have any hearings conducted by the commission pursuant to Section 73-35-23 , Mississippi Code of 1972, at a place designated by the commission. (3) Any service of process or pleading shall be served on the executive officer of the commission by filing duplicate copies, one (1) of which shall be filed in the office of the commission and the other forwarded by certified mail to the last-known principal address of the nonresident licensee against whom such process or pleading is directed. No default in any such action shall be taken except upon an affidavit of certification of the commission or the executive officer thereof that a copy of the process or pleading was mailed to the defendant as herein provided, and no default judgment shall be taken in any such action or proceeding until thirty (30) days after the mailing of process or pleading to the defendant. (4) An applicant shall sign an agreement to cooperate with any investigation of the applicant's real estate brokerage activities which the commission may undertake. (5) Each applicant for a nonresident license must qualify in all respects, including education, background investigation, examination and fees, as an applicant who is a resident of Mississippi with the exception of the residency requirement and approved equivalent prelicensing education. (6) A certification from the Executive Officer of the Real Estate Commission in the state in which the nonresident maintains his principal place of business shall be required. An applicant shall disclose all states in which he has held a real estate license and furnish a certification of licensure from that state or states. (7) The applicant/broker shall obtain an appropriate Mississippi license for the firm through which he intends to operate as a broker. (8) Any nonresident broker, broker-salesperson and salesperson shall meet Mississippi continuing education requirements after becoming licensed just as any resident licensee. (9) A broker or salesperson licensed in this state, on inactive status in good standing and no longer a resident of this state, may, after meeting other requirements for nonresident licensees, make application for a nonresident license without being required to meet current prelicensing educational requirements at the time of application or having to sit for the examination in order to obtain the equivalent nonresident license. (10) A nonresident licensee in good standing who changes his legal domicile to the State of Mississippi may obtain a resident license equivalent to his nonresident license without meeting the current educational requirements or sitting for the examination, provided other requirements set forth for residents of the state are met. (11) A nonresident licensee may utilize the inactive status for his license under the same requirements as a resident licensee, including, but not limited to, continuing education requirements and ceasing active status under a licensed nonresident broker. Laws, 1991, ch. 355, § 4; Laws, 1994, ch. 520, § 3; Laws, 2002, ch. 512, § 5, eff. 7/1/2002. Amended by Laws, 2016, ch. 472, SB 2725, 3, eff. 7/1/2016.

Miss. Code Ann. § 73-35-9

(1) Every applicant for a real estate broker's license shall apply therefor in writing upon blanks prepared by the commission and shall provide such data and information as the commission may require. (2) Such application shall be accompanied by the recommendation of at least three (3) citizens who have been property owners for at least three (3) years, who have known the applicant for three (3) years, and who are not related to the applicant, certifying that the applicant bears a good reputation for honesty and trustworthiness and recommending that a license be granted to the applicant. (3) Every applicant for a salesperson's license shall apply therefor in writing upon blanks prepared by the commission and shall provide such data and information as the commission may require. (4) Each application for license shall also be accompanied by two (2) photographs of the applicant in such form as the commission may prescribe. (5) Each application or filing made under this section shall include the social security number(s) of the applicant in accordance with Section 93-11-64 . (6) Beginning on July 1, 2019, each application for a license made under this section must include a current email address for the applicant. Codes, 1942, § 8920-05; Laws, 1954, ch. 318, § 5; reenacted, Laws, 1980, ch. 499, § 5; Laws, 1988, ch. 477, § 5; Laws, 1997, ch. 588, § 59; Laws, 2008, ch. 399, § 1, eff. 3/31/2008. Amended by Laws, 2019, ch. 339, HB 1292,§ 1, eff. 7/1/2019.

Miss. Code Ann. § 73-59-18

All residential contractors, in order to obtain a building permit in the State of Mississippi, shall possess a permit from the Department of Revenue issued under Section 27-65-27 . Notwithstanding the definitions of "residential builder" and "remodeler" in Section 73-59-1 , for purposes of this section, a residential contractor is a person or entity contracting or offering to contract with an owner or possessor of residential real estate to construct a residence or appurtenant structure thereon, or to repair or renovate any portion of a residence or appurtenant structure thereon, regardless of the cost of the project, and regardless of whether all or part of the cost is expected to be paid as a benefit of a property and casualty insurance policy. A residential contractor is not a person building, repairing or renovating his or her own personal residence. This section shall not apply to a residential contractor having a permanent place of business in the State of Mississippi or licensed under Section 31-3-1 et seq. Added by Laws, 2021, ch. 476, SB 2874,§ 1, eff. 4/22/2021.

Miss. Code Ann. § 73-60-1

The following words shall have the meaning ascribed in this section unless the context clearly indicates otherwise: (a) "Client" means any person who engages or seeks to engage the services of a home inspector for the purpose of obtaining an inspection of and written report on the conditions of a residential building. (b) "Home inspection" means the process by which a home inspector examines the observable systems and components of improvements to residential real property that are readily accessible. (c) "Home inspection report" means a written evaluation prepared and issued by a home inspector concerning the condition of the improvements to residential real property. (d) "Home inspector" means any person, who for compensation, conducts a home inspection. (e) "Residential real property" means a structure intended to be, or that is in fact, used as a residence and consisting of one (1) to four (4) family dwelling units. (f) " Appraisal Board" means the Mississippi Real Estate Appraisal Board as established under Section 73-34-8, Mississippi Code of 1972. (g) "Home Inspector Board" means the Home Inspector Regulatory Board that is created pursuant to this chapter. Laws, 2001, ch. 539, § 1, eff. 7/1/2001. Amended by Laws, 2024, ch. 376, SB 2788,§ 2, eff. 7/1/2024. Reenacted by Laws, 2017, ch. 389, SB 2017, 1, eff. 7/1/2017. Amended by Laws, 2013, ch. 442, SB 2698, 1, eff. 7/1/2013. See Laws, 2017, ch. 389, SB 2017, § 7.

Miss. Code Ann. § 73-60-15

(1) An action by a client to recover damages for any act or omission of a home inspector relating to a home inspection that he conducts shall be commenced within three (3) years after the date a home inspection is completed or the action shall be barred. Further, a licensed home inspector shall not be liable for any latent defects that may be contained in the observable systems and components of improvements to residential real property that he has inspected and has issued a home inspection report. (2) Any professional who is licensed by the State of Mississippi when acting within the scope of his profession and is not a licensed home inspector shall not be liable for the findings, errors, or omissions of the home inspection, provided that he has not provided physical work on the residential building; has not committed proven fraud in the real estate transaction; and has no personal or financial interest in the ownership of the residential building. (3) Any person who in good faith or intention recommends or endorses a home inspector without compensation, remuneration, rebate, or any other form of consideration shall not be liable for the actions of that home inspector, including errors, omissions, failure to perform any contracted duties of a home inspection, or failure to meet the standards of practice, report writing standards, or code of ethics. Laws, 2001, ch. 539, § 8, eff. 7/1/2001.

Miss. Code Ann. § 73-60-19

The requirements of this chapter shall not prevent the following from performing a visual inspection of a home that is within the scope of their license without further license from the board: specialty contractor, general contractor, architect, engineer, insurance adjuster, individual employed by a governmental entity, person employed by a bank, savings and loan or credit union, licensed real estate broker or salesperson, a licensed appraiser or a home builder. Laws, 2001, ch. 539, § 10, eff. 7/1/2001.

Miss. Code Ann. § 73-60-3

This chapter shall be administered and enforced by the Mississippi Real Estate Appraisal Board, which shall have the duties and powers to: (a) Receive applications for licensure as a home inspector under this chapter, establish appropriate administrative procedures for the processing of applications and issue licenses to qualified applicants pursuant to the provisions of this chapter; (b) Implement recommendations made to the Mississippi Real Estate Appraisal Board by the Home Inspector Regulatory Board with respect to upgrading and improving the experience, education and examination requirements that are required for a home inspector license; (c) Adopt and publish a code of ethics and standards of practice for persons licensed under this chapter; (d) Collect all licensing fees required or permitted by this chapter; (e) Take appropriate action upon a decision and the related findings of fact made by the Home Inspector Board, or a hearing officer employed by the Home Inspector Board, if, after an administrative hearing, the Home Inspector Board or hearing officer (i) determines that a licensed home inspector under this chapter has violated the code of ethics and standards established under this section, and (ii) recommends that the license of the home inspector be suspended or revoked, that renewal be denied, or that some other disciplinary action be taken; (f) Develop and adopt a licensing examination, which would meet nationally recognized standards, to determine the knowledge of an applicant of the home inspector profession; (g) Solicit bids and enter into contracts with one or more educational testing services or organizations approved by the Home Inspector Board for the preparation of questions and answers for licensure examinations under this chapter; (h) Develop the application and license forms; (i) Adopt rules and regulations for the administration of this chapter that are not inconsistent with the provisions of this chapter or the Constitution and laws of Mississippi or of the United States; (j) Employ an assistant to the Appraisal Board administrator who shall keep a record of all proceedings, transactions, communications and official acts of the Appraisal Board and perform such other duties as the Appraisal Board may require; and (k) Employ such other staff and technical assistance as may be necessary to properly administer the requirements of this chapter. Laws, 2001, ch. 539, § 2, eff. 7/1/2001. Amended by Laws, 2024, ch. 376, SB 2788,§ 3, eff. 7/1/2024. Reenacted by Laws, 2017, ch. 389, SB 2017, 2, eff. 7/1/2017. Amended by Laws, 2013, ch. 442, SB 2698, 2, eff. 7/1/2013. See Laws, 2017, ch. 389, SB 2017, § 7.

Miss. Code Ann. § 73-60-5

(1) There is hereby created, as an adjunct board to the Mississippi Real Estate Appraisal Board, a board to be known as the Home Inspector Regulatory Board, which shall consist of five (5) members appointed by the Governor, with the advice and consent of the Senate, to include one (1) representative from each congressional district, one (1) from the state at large and all shall be licensed home inspectors. Two (2) members shall be appointed to serve for a term of three (3) years, two (2) members shall be appointed to serve for a term of two (2) years and one (1) member shall be appointed to serve for a term of one (1) year. Thereafter, each member shall be appointed to serve for a term of four (4) years. (2) The Home Inspector Regulatory Board shall advise the Mississippi Real Estate Appraisal Board or its designee on all matters relating to this chapter. The Home Inspector Regulatory Board shall meet no less than four (4) times annually and shall be reimbursed for expenses on a per diem basis pursuant to state law. Reenacted and amended by Laws, 2024, ch. 376, SB 2788,§ 1, eff. 7/1/2024. Repealed by Laws, 2013, ch. 442, SB 2698, 7, eff. 7/1/2013. Laws, 2001, ch. 539, § 3; Laws, 2006, ch. 356, § 1, eff. 7/1/2006.

The law belongs to the people. Georgia v. Public.Resource.Org, 590 U.S. (2020)