§ 34-27-8. Real Estate Commission - Quorum; rules and regulations;
agency disclosure clause.


(a) A majority of the commission members shall constitute a quorum for
the conduct of commission business. The commission may adopt and enforce
all rules and regulations pursuant to the state administrative procedure
statutes necessary for the administration of this chapter, and to otherwise do
all things necessary and convenient for effecting this chapter.
(b) In addition to the powers granted in this section, the commission may
adopt and enforce rules and regulations governing the requirements of agency
disclosure by licensed brokers and salespersons.
(c) Each offer to purchase prepared after August 1, 1998, shall have
prominently displayed the following AGENCY DISCLOSURE clause which
shall be completed and initialed as indicated:
The listing company is:
(Two blocks may be checked)
An agent of the seller.
An agent of the buyer.
An agent of both the seller and buyer and is acting as a limited
consensual dual agent.
Assisting the buyer seller as a transaction
broker.
The selling company is:
(Two blocks may be checked)
An agent of the seller.
An agent of the buyer.
An agent of both the seller and buyer and is acting as a limited
consensual dual agent.
Assisting the buyer seller as a transactionbroker.

(Acts 1951, No. 422, p. 745, § 19; Acts 1971, No. 2485, p. 3966, § 19; Acts
1971, 3rd Ex. Sess., No. 310, p. 4599, § 1; Acts 1975, No. 563, p. 1276, § 1;
Acts 1985, No. 85-750, p. 1204, § 1; Acts 1988, No. 88-214, p. 315, § 3; Acts
1989, No. 89-284, p. 447, § 3; Acts 1992, No. 92-177, p. 305, § 3; Acts 1995,
No. 95-211, p. 341, § 10; Act 98-618, p. 1359, § 1.)

Cross references

See RULE 790-X-1.01 through RULE 790-X-1.21; RULE 790-X-2.01 through RULE 790-X-2.04; RULE 790-X-2.07; RULE 790-X-2.13 through RULE 790-X-2.23; RULE 790-X-3.01 through RULE 790-X-3.14.