Indiana Code 25-34.1-10-17. Subagency prohibited
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Terms Used In Indiana Code 25-34.1-10-17
- client: means a person who has entered into an agency relationship with a licensee. See Indiana Code 25-34.1-10-5
- 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
- real estate transaction: means the sale or lease of any legal or equitable interest in real estate. See Indiana Code 25-34.1-10-8
- subagent: means a broker engaged to act for another broker in performing brokerage services for a client. See Indiana Code 25-34.1-10-9
Sec. 17. A licensee may not make an offer of subagency through a multiple listing service or other information source, or agree to appoint, cooperate with, compensate, or otherwise associate with a subagent in a real estate transaction. The elimination of subagency by this section is not intended to limit the rights of a licensee to cooperate with, compensate, or otherwise associate with another licensee who is not acting on behalf of a client.
As added by P.L.130-1999, SEC.22.