‘‘(ii) listing or advertising real prop-
erty for sale, purchase, lease, rental, or ex-
change;
‘‘(iii) providing advice in connection
with sale, purchase, lease, rental, or ex-
change of real property;
‘‘(iv) bringing together parties inter-
ested in the sale, purchase, lease, rental, or
exchange of real property;
‘‘(v) negotiating, on behalf of any
party, any portion of a contract relating to
the sale, purchase, lease, rental, or ex-
change of real property (other than in con-
nection with providing financing with re-
spect to any such transaction);
‘‘(vi) engaging in any activity for
which a person engaged in the activity is
required to be registered or licensed as a
real estate agent or broker under any ap-
plicable law; and
‘‘(vii) offering to engage in any activ-
ity, or act in any capacity, described in
clause (i), (ii), (iii), (iv), (v), or (vi).
‘‘(C) REAL ESTATE MANAGEMENT ACTIV-
ITY DEFINED.—For purposes of this paragraph,
the term ‘real estate management activity’
means any activity that involves offering or pro-
viding real estate management services to the
public, including—
‘‘(i) procuring any tenant or lessee for
any real property;
‘‘(ii) negotiating leases of real prop-
erty;
‘‘(iii) maintaining security deposits on
behalf of any tenant or lessor of real prop-
erty (other than as a depository institution
for any person providing real estate man-
agement services for any tenant or lessor
of real property);
‘‘(iv) billing and collecting rental pay-
ments with respect to real property or pro-
viding periodic accounting for such pay-
ments;
‘‘(v) making principal, interest, insur-
ance, tax, or utility payments with respect
to real property (other than as a deposi-
tory institution or other financial institu-
tion on behalf of, and at the direction of,
an account holder at the institution);
‘‘(vi) overseeing the inspection, main-
tenance, and upkeep of real property, gen-
erally; and
‘‘(vii) offering to engage in any activ-
ity, or act in any capacity, described in
clause (i), (ii), (iii), (iv), (v), or (vi).
‘‘(D) EXCEPTION
FOR
COMPANY
PROP-
ERTY.—This paragraph shall not apply to an
activity of a bank holding company or any affil-
iate of such company that directly relates to
managing any real property owned by such
company or affiliate, or the purchase, sale, or
lease of property owned, or to be used or occu-
pied, by such company or affiliate.’’.
(b) REVISED STATUTES OF THE UNITED STATES.—
Section 5136A(b) of the Revised Statutes of the United
States (12 U.S.C. 24a(b)) is amended by adding at the
end the following new paragraph:
‘‘(4) REAL ESTATE BROKERAGE AND REAL ES-
TATE MANAGEMENT ACTIVITIES.—
‘‘(A) IN
GENERAL.—The Secretary may
not determine that real estate brokerage activ-
ity or real estate management activity is an ac-
tivity that is financial in nature, is incidental to
any financial activity, or is complementary to a
financial activity.
‘‘(B) DEFINITIONS.—For purposes of this
paragraph, the terms ‘real estate brokerage ac-
tivity’ and ‘real estate management activity’
have the same meanings as in section 4(k)(8) of
the Bank Holding Company Act of 1956.
‘‘(C) EXCEPTION
FOR
COMPANY
PROP-
ERTY.—This paragraph shall not apply to an
activity of a national bank, or a subsidiary of
a national bank, that directly relates to man-
aging any real property owned by such bank or
subsidiary, or the purchase, sale, or lease of
property owned, or to be owned, by such bank
or subsidiary.’’.
Æ