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Text: HF02201                           Text: HF02203
Text: HF02200 - HF02299                 Text: HF Index
Bills and Amendments: General Index     Bill History: General Index

House File 2202

Partial Bill History

Bill Text

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 has the provided
  1 14 written consent of disclosure 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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