§ 25-34.1-10-14 — Commencement and termination of agency relationship

(a) The duties and obligations set forth in
this chapter begin at the time the licensee enters into an agency
relationship with a party to a real estate transaction and continues until
the agency relationship terminates.
(b) If the agency relationship is not fulfilled or completed for any
reason, the agency relationship ends at the earlier of:
(1) a date of expiration agreed upon by the parties; or
(2) a termination of the relationship by the parties.
(c) Except as otherwise agreed to in writing and as provided in
subsection (b), a licensee representing a seller, landlord, buyer, or
tenant owes no further duties or obligations after termination,
expiration, or completion of the agency relationship, except:
(1) accounting for all money and property received during the
agency relationship; and
(2) keeping confidential all information received during the
course of the agency relationship that was made confidential by
request or instructions from the client, unless:
(A) the disclosure is required by law;
(B) the client gives written consent to the disclosure; or
(C) the information becomes public from a source other than
the licensee or by subsequent words or conduct of the client.

Legislative History

As added by P.L.128-1994, SEC.6. Amended by P.L.130-1999, SEC.19.