Rule detail : 251777

ARK LEG Real Estate Dual Agency Duties

Published on: Apr 24, 2025

ARK LEG enacted HB 1853 on real estate licensee dual agency duties to clients.
Amends ARK LEG 17-42-316 (agency relationship), adds dual agency exceptions.
Bill Provisions
Allows clients of licensee acting under dual agency to waive duty of absolute fidelity.
Multiple clients represented by dual agency licensee can waive agent confidentiality.
Legislative History
On Mar. 19, 2025, bill introduced in House; on Apr. 3, 2025, bill was passed in House.
On Apr. 3, 2025, bill introduced in Senate; on Apr. 14, 2025, bill was passed in Senate.
On Apr. 17, 2025, bill approved by governor, HB 1853 was assigned Act 834.
Effectiveness
Act effective 91 days after legislature adjourned sine die (May 5), so Aug. 4, 2025.

Regulators

ARK LEG

Entity Types

CNSM; Corp; Fiduciary; MG Orig

Reference

Act 834, 4/17/2025; Citation: ARK LEG 17-42-316;

Functions

Compliance; Legal; Market Conduct; Registration/Licensing; Sales Practices

Countries

United States of America