Sec. 1. 32 MRSA §13002, sub-§2, as amended by PL 1991, c. 53, §1, is further amended to read:

2. Transactions by attorneys-at-law. Transactions conducted by an attorney-at-law in the performance of duties as an attorney-at-law. This exception does not apply to attorneys who are regularly engaged in real estate brokerage; and

Sec. 2. 32 MRSA §13002, sub-§3, as enacted by PL 1987, c. 395, Pt. A, §212, is amended to read:

3. Exception. Any person licensed as an auctioneer under chapter 5, hired to call bids at an auction, if the person employed does not prepare contracts or otherwise control the actual sale or take custody of any part of the purchase price. ; and

Sec. 3. 32 MRSA §13002, sub-§4 is enacted to read:

4.__Transactions by business brokers and merger and acquisitions specialists.__Transactions conducted by business brokers and merger and acquisitions specialists whose occupation is assisting in the transfer of ownership of businesses or business assets, part of which assets may be real estate, if no more that 4 transactions involving business real estate occur in a calendar year.

SUMMARY

This bill exempts business brokers and merger and acquisitions specialists from the real estate brokerage licensing act.