Arkansas Administrative Code
Agency 076 - Real Estate Commission
Rule 076.00.91-003 - 135 - Knowledge of Property Offered for Sale; 137-Handling of Funds - Maintenance of Records
Universal Citation: AR Admin Rules 076.00.91-003
Current through Register Vol. 49, No. 9, September, 2024
135. Knowledge of property offered for sale.
A licensee shall exert reasonable efforts to ascertain those facts which are material to the value or desirability of every property for which the licensee accepts the agency so that in offering the property the licensee will be informed about its condition, and thus able to avoid intentional or negligent misrepresentation to the public concerning such property.
137. Handling of funds - Maintenance of records.
(a)
(2) A broker shall deposit all advance fees
in the broker's trust account and shall disburse such funds only in the
accordance with the terms of a written agreement signed by the owner of the
funds. If such written agreement is not received within a reasonable time after
payment of the advance fee, the fee shall be refunded to the owner.
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