House File 2528 - Introduced



                                       HOUSE FILE       
                                       BY  COMMITTEE ON COMMERCE,
                                           REGULATION AND LABOR

                                           (SUCCESSOR TO HSB 594)


    Passed House, Date               Passed Senate,  Date             
    Vote:  Ayes        Nays           Vote:  Ayes        Nays         
                 Approved                            

                                      A BILL FOR

  1 An Act relating to prohibited business practices by a real estate
  2    broker or salesperson.
  3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  4 TLSB 5096HV 81
  5 jr/je/5

PAG LIN



  1  1    Section 1.  Section 543B.60A, Code Supplement 2005, is
  1  2 amended by adding the following new subsection:
  1  3    NEW SUBSECTION.  8.  An Iowa licensee is prohibited from
  1  4 participating in any marketing plan or arrangement prohibited
  1  5 by this section with a person who is licensed or otherwise
  1  6 authorized to engage in the real estate business in another
  1  7 state or foreign country.
  1  8                           EXPLANATION
  1  9    Code section 543B.60A currently enumerates certain business
  1 10 practices which may not be conducted by persons licensed in
  1 11 Iowa as a real estate broker or salesperson.  This bill
  1 12 expands that section to prohibit an Iowa licensee from
  1 13 participating with a person licensed in another jurisdiction
  1 14 in a marketing plan or arrangement which is unlawful in Iowa.
  1 15 LSB 5096HV 81
  1 16 jr:nh/je/5