Virgin Islands: changes to Real Estate Commission law
The governor of the Virgin Islands vetoed a bill to create a property manager license type under the Real Estate Commission. Instead the Department of Licensing and Consumer Affairs is directed to create a new business license category for property managers.
A bill was approved to change the composition of the Real Estate Commission to require that "three members must hold a valid Virgin Islands Real Estate Broker License for at least five consecutive years before the date of appointment; one member must be a licensed property manager; one member must be a licensed attorney; and two members must be persons who have never been licensed as a real estate broker or property manager in any jurisdiction. Current law requires that not more than three members be licensed as real estate brokers, one of which must be an attorney. Subsection (b) was also amended to require that three members reside on St. Croix, three members reside on St. Thomas, and one member reside on St. John. Current law requires that not more than three members reside on any one island."