ENROLLED Page 1 of 2 CODING: Words in struck through type are deletions from existing law; words underscored are additions. 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 * * *19 (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 Page 2 of 2 CODING: Words in struck through type are deletions from existing law; words underscored are additions. 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: