Indiana Code 25-34.1-10-15. Fiduciary duties superseded
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Indiana Code 25-34.1-10-15
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- Fiduciary: A trustee, executor, or administrator.
- licensee: means an individual or entity issued a broker's real estate license by the Indiana real estate commission. See Indiana Code 25-34.1-10-6.8
Sec. 15. The duties and obligations of a licensee set forth in this chapter supersede any fiduciary duties of a licensee to a party based on common law principles of agency to the extent that those common law fiduciary duties are inconsistent with the duties and obligations set forth in this chapter.
As added by P.L.128-1994, SEC.6. Amended by P.L.130-1999, SEC.20.