Senate Study Bill 1133 



                                       SENATE FILE       
                                       BY  (PROPOSED COMMITTEE ON
                                            COMMERCE BILL BY
                                            CHAIRPERSON WARNSTADT)


    Passed Senate, Date               Passed House,  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 2156SC 82
  5 rn/je/5

PAG LIN



  1  1    Section 1.  Section 543B.60A, Code 2007, is amended by
  1  2 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 2156SC 82
  1 16 rn:nh/je/5