Text: HF02201 Text: HF02203 Text: HF02200 - HF02299 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 543B.7, Code Supplement 1995, is 1 2 amended by adding the following new subsection: 1 3 NEW SUBSECTION. 11. A nonlicensed employee of a licensee 1 4 who provides information to another licensee concerning the 1 5 sale, exchange, purchase, rental, lease, or advertising of 1 6 real estate which has been provided to the employee by the 1 7 employer licensee either verbally or in writing. 1 8 Sec. 2. Section 543B.56, subsection 3, paragraph b, Code 1 9 Supplement 1995, is amended to read as follows: 1 10 b. Act in a transaction on the licensee's own behalf, on 1 11 behalf of the licensee's immediate family or brokerage, or on 1 12 behalf of an organization or business entity in which the 1 13 licensee has an interest, unless the licensee hastheprovided 1 14 writtenconsent ofdisclosure of the interest to all parties 1 15 to the transaction. 1 16 EXPLANATION 1 17 This bill exempts from the provisions of chapter 543B the 1 18 actions of a nonlicensed employee of a licensed real estate 1 19 broker or salesperson who provides information to another 1 20 licensee concerning the sale, exchange, purchase, rental, 1 21 lease, or advertising of real estate, and the information has 1 22 been provided to the employee by the employer licensee either 1 23 verbally or in writing. 1 24 The bill also provides that a licensed real estate broker 1 25 or sales person, is prohibited from acting in a transaction on 1 26 the licensee's own behalf, on behalf of the licensee's 1 27 immediate family or brokerage, or on behalf of an organization 1 28 or business entity in which the licensee has an interest, 1 29 unless the licensee has provided written disclosure of the 1 30 interest to all parties to the transaction. Currently, the 1 31 licensee must have the consent of all parties to the 1 32 transaction before acting in the transaction. 1 33 LSB 3437HV 76 1 34 mj/jw/5
Text: HF02201 Text: HF02203 Text: HF02200 - HF02299 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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