Louisiana Revised Statutes 37:1438 – A. The provisions of this Chapter shall not apply to:
Terms Used In Louisiana Revised Statutes 37:1438
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Client: means one who engages the professional advice and services of a licensee as his agent and whose interests are protected by the specific duties and loyalties imposed by that relationship. See Louisiana Revised Statutes 37:1431
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Executor: A male person named in a will to carry out the decedent
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
- Property management: means the marketing, leasing, or overall management of real property for others for a fee, commission, compensation, or other valuable consideration. See Louisiana Revised Statutes 37:1431
- Property manager: means one who, for a fee, commission, or other valuable consideration, manages real estate, including the collection of rents, supervision of property maintenance, and accounting for fees received for another. See Louisiana Revised Statutes 37:1431
- Real estate: shall mean and include condominiums and leaseholds, as well as any other interest in land, with the exceptions of oil, gas and other minerals and whether the real estate is situated in this state or elsewhere. See Louisiana Revised Statutes 37:1431
- real estate broker: means a licensed real estate broker performing activities as an individual real estate broker, a sponsoring broker or designated qualifying broker, or a corporation, partnership, or limited liability company which has been granted a real estate license through a designated qualifying broker. See Louisiana Revised Statutes 37:1431
- Trustee: A person or institution holding and administering property in trust.
A. The provisions of this Chapter shall not apply to:
(1) Any unlicensed person, partnership, limited liability company, association, or corporation, foreign or domestic, provided that the following requirements are met:
(a) The unlicensed person, partnership, limited liability company, association, or corporation, foreign or domestic, is the owner or lessor of the property.
(b) The unlicensed person, partnership, limited liability company, association, or corporation, foreign or domestic, performs acts of ownership regarding the property, either individually or through an employee or representative.
(c) The provisions of this Section shall not include any unlicensed person, partnership, limited liability company, association, corporation, foreign or domestic, in the business of selling or managing timeshare interests.
(2) The service rendered by an attorney at law on behalf of a client that may be required in the normal course of other legal representation.
(3) A receiver, trustee in bankruptcy, administrator, executor, tutor, or civil sheriff for any parish of this state.
(4) A trustee selling under a deed of trust or a mortgage.
(5) Any individual, corporation, partnership, trust, limited liability company, joint venture, or other entity that sells, exchanges, leases, or manages its own property, except persons, corporations, partnerships, trusts, limited liability companies, joint ventures, and other entities that are in the business of selling timeshare interests.
(6) Any salaried person employed by a licensed real estate broker for and on behalf of the owner of any real estate that the licensed broker has contracted to manage for the owner, if the salaried employee is limited in his employment to the following:
(a) Delivering a lease application, a lease, or any amendment thereof to any person.
(b) Receiving a lease application, lease, or amendment thereof, a security deposit, rental payment, or any related payment for delivery to and made payable to a property manager or owner.
(c) Showing a rental unit to any person, as long as the employee is acting under the direct instructions of the broker, including the execution of leases or rental agreements, provided the broker is responsible for the actions of his employees.
(d) Providing information about a rental unit, a lease, an application for lease, or the status of a security deposit or the payment of rent to any person.
(e) Assisting in the performance of property management functions by carrying out administrative, clerical, or maintenance tasks.
(7) Any person employed by a housing authority to manage its property or otherwise managing property of the Department of Housing and Urban Development, but only with respect to the management of such property.
(8) Any person managing agricultural property.
B, C. Repealed by Acts 1995, No. 1207, §2.
Acts 1990, No. 893, §1; Acts 1995, No. 1207, §§1, 2; Acts 2016, No. 533, §1.