Louisiana 2010 Regular Session

Louisiana House Bill HB370 Latest Draft

Bill / Chaptered Version

                            ENROLLED
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ACT No. 247
Regular Session, 2010
HOUSE BILL NO. 370
BY REPRESENTATIVE ARNOLD
AN ACT1
To amend and reenact R.S. 9:3891(8) and (9) and to enact R.S. 9:3891(14), relative to2
agency relations in real estate transactions; to provide for a change in the definition3
of "designated agency" and "designated agent"; to provide for a definition of4
"substantive contact"; and to provide for related matters.5
Be it enacted by the Legislature of Louisiana:6
Section 1. R.S. 9:3891(8) and (9) are hereby amended and reenacted and R.S.7
9:3891(14) is hereby enacted to read as follows: 8
ยง3891.  Definitions9
*          *          *10
(8) "Designated agency" means 	a contractual relationship between a broker11
and a client under which one or more licensees affiliated with the broker are12
designated as agents of the client the agency relationship that shall be presumed to13
exist when a licensee engaged in any real estate transaction, except as otherwise14
provided in this Chapter, is working with a client, unless there is a written agreement15
providing for a different relationship.16
(9) "Designated agent" means a licensee named by a broker as who is the17
agent of a client.18
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(14) "Substantive contact" means that point in any conversation where20
confidential information is solicited or received. This includes any specific financial21
qualifications of the consumer or the motives or objectives in which the consumer22
may divulge any confidential, personal, or financial information, which, if disclosed23 ENROLLEDHB NO. 370
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to the other party to the transaction, could harm the party's bargaining position. This1
includes any electronic contact, electronic mail, or any other form of electronic2
transmission.3
SPEAKER OF THE HOUSE OF REPRESENTATI VES
PRESIDENT OF THE SENATE
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED: