Senate Amendment 3401


PAG LIN




     1  1    Amend Senate File 530, as passed by the Senate, as
     1  2 follows:
     1  3 #1.  Page 1, line 7, by inserting after the word
     1  4 <country.> the following:  <This subsection shall not
     1  5 be interpreted to impact or alter a referral fee
     1  6 structure which otherwise complies with the
     1  7 requirements of this section.>
     1  8 #2.  Page 1, by inserting after line 7 the
     1  9 following:
     1 10    <Sec.    .  Section 543B.60A, Code 2007, is amended
     1 11 by adding the following new subsection:
     1 12    NEW SUBSECTION.  9.  A licensee or person licensed
     1 13 in another state or foreign country who conducts
     1 14 business in this state or refers business to a
     1 15 licensee in this state shall disclose in writing to
     1 16 the consumer and to the licensee to whom they are
     1 17 referring business, the name of the consumer being
     1 18 referred, the name of the referring company, and the
     1 19 amount of compensation they are receiving for the
     1 20 referral.  This subsection shall not affect or
     1 21 restrict business practices relating to payment
     1 22 methods between listing and selling brokerages, and
     1 23 shall be applicable strictly to properties containing
     1 24 at least one but not more than four dwelling units.>
     1 25 #3.  By renumbering, relettering, or redesignating
     1 26 and correcting internal references as necessary.
     1 27 SF 530.H
     1 28 rn/jg/25
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