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House Journal: Page 910: Monday, March 31, 1997

 2     1.  By striking everything after the enacting
 3   clause and inserting the following:
 4     "Section 1.  Section 543B.57, subsections 1 and 2,
 5   Code 1997, are amended to read as follows:
 6     1.  A licensee shall not represent any party or
 7   parties to a transaction or otherwise as a licensee
 8   unless that licensee makes an affirmative written a
 9   disclosure to all parties to the transaction
10   identifying which party that person represents in the
11   transaction.  The disclosure shall be acknowledged by
12   separate signatures of all parties to the transaction.
13     2.  a.  The disclosure required in subsection 1
14   shall be made by the licensee at the time the licensee
15   provides specific assistance to the client, or prior
16   to any offer being made or accepted by any party to a
17   transaction, whichever is sooner.  A change in a
18   licensee's representation that makes the initial
19   disclosure incomplete, misleading, or inaccurate
20   requires that a new disclosure be made immediately.
21     b.  For purposes of this section, "specific
22   assistance" means eliciting or accepting confidential
23   information about a party's real estate needs,
24   motivation, or financial qualifications.  "Specific
25   assistance" does not mean an open house showing,
26   preliminary conversations concerning price range,
27   location, and property styles, or responding to
28   general factual questions concerning properties which
29   have been advertised for sale or lease.
30     c.  A written disclosure shall be acknowledged by
31   separate signatures of all parties to the transaction
32   prior to any offer being made or accepted by any party
33   to a transaction.
34     Sec. 2.  EFFECTIVE DATE.  This Act, being deemed of
35   immediate importance, takes effect upon enactment."
36     2.  Title page, by striking lines 2 and 3 and
37   inserting the following:  "or salesperson and parties
38   to certain real estate transactions and providing an
39   effective date."
Holveck of Polk offered amendment H-1443, to amendment H-1435,
and requested division as follows:

H-1443

 1     Amend the amendment, H-1435, to House File 644 as
 2   follows:

H-1443A

 3     1.  Page 1, line 8, by striking the words "an
 4   affirmative written a" and inserting the following:
 5   "an affirmative written".

Iowa General Assembly

Index: House Journal (77th General Assembly: Session 1)

© 1997 Cornell College and League of Women Voters of Iowa

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Last update: Tue Apr 1 13:40:04 CST 1997
URL: /DOCS/GA/77GA/Session.1/HJournal/00900/00910.html
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