|On May 2, 2022, a revised proposed new rule, promulgated by the Missouri Real Estate Commission (“MREC”) regarding the “Team Advertising” (§339.100.2(24)(b) legislation signed into law last year, was published in the Missouri Register and posted on the Secretary of State Website. To access this proposed rule amendment (20 CSR 2250-8.070(5)), please click here (or click on the “Department of Commerce & Insurance” tab & scroll to page 633 of the PDF on the SOS website).
This rule differs from that originally proposed last year, primarily in that subpart “(B)” now includes the following clarifying language:
“When the licensee’s or group of licensee’s name includes or incorporates the name of the broker/brokerage with whom the licensee or group of licensee’s is currently affiliated, the use of the words realty, brokerage, or company in the licensee’s fictitious name shall not constitute a violation of subsection (5)(A) above when these words are used to refer to or identify the licensee’s affiliation with the broker/brokerage.”
The proposed rule (as amended) is now again open for public comment (until June 1, 2022). The MREC website was recently updated to simplify this process (simply click the email link under the “Proposed Rules” section to submit a comment).
After the public comment period is closed, the MREC will review any new comments received to determine if any further change to the proposed rule is needed. If not, then the “final” proposed rule amendment is sent back through the approval process, after which the SOS will officially file the final rules. This process will likely take a couple more months.
Steven D. Graham
Vice President, Risk Management