Arkansas § 17-42-319 Waiver of agency duties

Arkansas Statutes

§ 17-42-319 — Waiver of agency duties

Arkansas § 17-42-319

Title17

This text of Arkansas § 17-42-319 (Waiver of agency duties) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 17-42-319 (2026).

Text

(a)A licensee shall perform the duties required under § 17-42-317 or § 17-42-318 unless the client agrees to waive these duties and signs a waiver of duties statement that contains:

(1)A list of the fiduciary duties required of all licensees under § 17-42-316 ;

(2)A list of the duties contained in § 17-42-317 or § 17-42-318 set forth in a manner that allows for the parties to indicate each duty that is being waived; and (3) The following language in at least 10-point boldface type: "Agreement to Waive By signing below, I agree that the real estate licensee who represents me will not perform the duties that are initialed above. I also understand that in a proposed real estate transaction, no other real estate licensee will perform the waived duties, and I realize that I may need to hire

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(a) A licensee shall perform the duties required under § 17-42-317 or § 17-42-318 unless the client agrees to waive these duties and signs a waiver of duties statement that contains: (1) A list of the fiduciary duties required of all licensees under § 17-42-316 ; (2) A list of the duties contained in § 17-42-317 or § 17-42-318 set forth in a manner that allows for the parties to indicate each duty that is being waived; and (3) The following language in at least 10-point boldface type: "Agreement to Waive By signing below, I agree that the real estate licensee who represents me will not perform the duties that are initialed above. I also understand that in a proposed real estate transaction, no other real estate licensee will perform the waived duties, and I realize that I may need to hire other professionals such as an attorney. ____________________ ____________________ Signature of Client Date ____________________ ____________________ Signature of Licensee Date" (b) If a licensee enters into an agency relationship containing the waivers outlined in this section, all reasonable efforts must be taken to inform other licensees that: (1) Any moneys of others, including without limitation earnest money, advance fees, or security deposits are not to be transmitted or kept by the licensee, notwithstanding other applicable statutes and rules; and (2) A licensee for a buyer or lessee remains authorized to present offers to buy, lease, or rent real property directly to the licensee's principal notwithstanding a: (A) Waiver under subsection (a) of this section; or (B) Conflicting statute or rule.