HLS 12RS-998 ORIGINAL
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
Regular Session, 2012
HOUSE BILL NO. 774
BY REPRESENTATIVE PONTI
REAL ESTATE/REALTORS: Requires a real estate licensee to relinquish certain business
property to the sponsoring broker upon termination of business relationship
AN ACT1
To enact R.S. 37:1441.1, relative to real estate licensees; to provide for the return of certain2
business property upon termination of a business relationship; and to provide for3
related matters.4
Be it enacted by the Legislature of Louisiana:5
Section 1. R.S. 37:1441.1 is hereby enacted to read as follows: 6
ยง1441.1. Return of business related property and data upon termination7
A. When the association of a licensee with his sponsoring broker is8
terminated by either party for any reason, the licensee shall immediately relinquish9
and return to the sponsoring broker all business related property and data, including10
but not limited to:11
(1) Any keys or access cards to any and all properties listed with the12
sponsoring broker.13
(2) Any documents and computer files pertaining in any way to real estate14
transactions where the licensee sponsored by the broker has appeared in a licensing15
capacity. The licensee may retain copies of such documents and computer files.16
B. A sponsoring broker who alleges the failure of a terminated licensee to17
comply with this Section shall file a complaint with the commission in the form of18
a signed written report alleging such failure, which shall include a description or19
listing of the specific business related property or data that was not relinquished or20 HLS 12RS-998 ORIGINAL
HB NO. 774
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
returned to the sponsoring broker. The sponsoring broker filing the complaint shall1
provide a copy of the report to the licensee by certified mail return receipt requested.2
DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
Ponti HB No. 774
Abstract: Provides that when a real estate licensee ends a business relationship with his
sponsoring broker for any reason, the licensee shall immediately relinquish and
return all business related property and data.
Proposed law requires any person who is licensed by the Louisiana Real Estate Commission
whose business relationship is terminated, to immediately relinquish and return all business
related property and data to the sponsoring broker.
Proposed law requires the sponsoring broker to file a complaint with the commission if the
terminated licensee fails to relinquish or return property or data. Requires the sponsoring
broker to provide a copy of the complaint to the licensee.
(Adds R.S. 37:1441.1)