Text: HF02183                           Text: HF02185
Text: HF02100 - HF02199                 Text: HF Index
Bills and Amendments: General Index     Bill History: General Index

House File 2184

Partial Bill History

Bill Introduced: H.J. 179
Complete Bill History

Bill Text

PAG LIN
  1  1    Section 1.  Section 543B.56, subsection 2, paragraph a,
  1  2 Code 1997, is amended to read as follows:
  1  3    a.  Place the client's interests ahead of the interests of
  1  4 any other party, unless loyalty to a client violates the
  1  5 licensee's duties under subsection 1, section 543B.58, or
  1  6 under other applicable law.
  1  7    Sec. 2.  Section 543B.58, Code 1997, is amended to read as
  1  8 follows:
  1  9    543B.58  LICENSEES REPRESENTING MORE THAN ONE CLIENT IN A
  1 10 TRANSACTION PROHIBITED.
  1 11    1.  A licensee shall not be the agent for both a buyer and
  1 12 a seller to a transaction without obtaining the written
  1 13 consent of both the buyer and the seller.  The written consent
  1 14 shall state that the licensee has made a full disclosure of
  1 15 the type of representation the licensee will provide.  The
  1 16 consent to multiple representation shall contain a statement
  1 17 of the licensee's duties under section 543B.56, subsection 1,
  1 18 a statement of the licensee's duties to the client under
  1 19 section 543B.56, subsection 2, paragraphs "b" and "c", and a
  1 20 statement that the clients understand the licensee's duties
  1 21 and consent to the licensee's providing brokerage services to
  1 22 more than one client.
  1 23    2.  A consent to multiple representation may contain
  1 24 additional disclosures by the licensee or additional
  1 25 agreements between the licensee and the clients that do not
  1 26 violate any duty of a licensee under this chapter.
  1 27    Sec. 3.  Section 543B.59, subsection 2, Code 1997, is
  1 28 amended to read as follows:
  1 29    2.  DUAL AGENT.  A real estate brokerage agency and a
  1 30 designated broker are not considered to be dual agents in
  1 31 violation of this subchapter solely because of an appointment
  1 32 under the provisions of this section.  However, an affiliated
  1 33 licensee who personally represents both the seller and the
  1 34 buyer in a particular transaction is considered to be a
  1 35 disclosed dual agent and is required to comply with the
  2  1 provisions of this subchapter governing disclosed dual agents.
  2  2    Sec. 4.  Section 543B.61, subsection 2, Code 1997, is
  2  3 amended to read as follows:
  2  4    2.  Failure of a licensee to act in accordance with the
  2  5 disclosures made pursuant to sections 543B.56 through 543B.58
  2  6 and 543B.57 is prima facie evidence of a violation under
  2  7 section 543B.34, subsection 4.  
  2  8                           EXPLANATION
  2  9    This bill prohibits a licensed real estate broker or
  2 10 salesperson from representing a buyer and a seller to the same
  2 11 real estate transaction.  
  2 12 LSB 3047HH 77
  2 13 mj/jw/5

Text: HF02183                           Text: HF02185
Text: HF02100 - HF02199                 Text: HF Index
Bills and Amendments: General Index     Bill History: General Index

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