Senate Insurance & Commerce committee advances bill allowing real estate licensees to form professional LLCs

The Senate Insurance & Commerce committee voted to advance HB 1265, a measure to allow licensed real estate brokers and salespeople to incorporate as professional limited liability companies, the committee chair announced Tuesday.

Senator Terry Rice (District 5), who presented the bill, said Representative Dauby carried the measure in the House. "It simply allows that the individual who is a broker or a salesman in the real estate field, be able to incorporate as a professional limited liability company," Rice said, and added he had not heard any opposition.

After Rice’s presentation, the committee called for questions and public comment; none were offered. A motion to pass the bill was made and seconded by Senator Boyd. The committee approved the measure by voice vote; the chair declared the bill passed.

The record does not include a roll-call tally or identify the member who moved the motion by name. The committee noted that Senator Wallace would not run his bills at this meeting and that Senator Irvin was absent. With no further business recorded, the chair adjourned the session.

The bill now moves to the next committee or floor action as required by Senate procedure; no further scheduling details were provided in the transcript.