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