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1999 SESSION
HB 2609 Real estate brokers and salespersons.
Introduced by: W. W. Bennett, Jr. | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Real estate brokers and salespersons; disclosure of affiliated business relationship. Requires licensed real estate brokers and salespersons to disclose, in addition to any broker relationship the licensee has with another party to a transaction, any affiliate relationship with, or any direct or beneficial interest that the licensee or an associate of the licensee has in an affiliated settlement service provider. The bill defines “settlement services” and “client” to mean the same as those terms are defined in the Real Estate Settlement Procedures Act of 1974 (RESPA), 12 U.S.C. § 2601, et seq., as amended, and the regulations thereunder.