36-21A-144. Transaction broker--Duties and obligations.

117 words·~1 min read·/sd/title-36/chapter-36-21/36-21a-144

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Any licensee acting as a transaction broker has the following duties and obligations:

(1)To perform the terms of any written agreement made with the customer;

(2)To exercise reasonable skill and care for the customer;

(3)To present all offers in a timely manner;

(4)To account in a timely manner for all money and property received;

(5)To comply with any applicable federal, state, and local laws, rules, regulations, and ordinances including fair housing and civil rights statutes or regulations; and

(6)To disclose to the customer all adverse material facts known by the licensee.

No licensee acting as a transaction broker may advise any party to a transaction to the detriment of another party.