§ 37:1448.1 — Non-compete agreements

Louisiana § 37:1448.1

• Jurisdiction: Louisiana
• Title 37: Professions and Occupations

Text

A. A non-compete agreement between a real estate broker and licensee which requires the licensee to refrain from carrying on or engaging in a business similar to that of the real estate broker or from soliciting customers of the real estate broker within a specified parish or parishes, municipality or municipalities, or parts thereof, so long as the real estate broker carries on a like business therein, for any period of time up to two years, shall be unenforceable and an absolute nullity unless the licensee shall have the right to rescind the non-compete agreement until midnight of the third business day following the execution of the non-compete agreement or the delivery of the agreement to the licensee, whichever is later. In any agreement between the broker and licensee, which includes a non-compete agreement, the non-compete agreement shall be prominently displayed in bold-faced block lettering of not less than ten-point type.
B. Any action to enforce the provisions of this Section shall be brought in a court of competent jurisdiction in this state.
C. The provisions of this Section shall be effective as to agreements entered into after January 1, 2006.

Legislative History

Acts 2005, No. 229, §1.