(a)  A licensee shall not act as a designated client representative until the licensee has complied with § 5-20.6-8.

Terms Used In Rhode Island General Laws 5-20.6-9

  • Client: means a buyer, seller, tenant, or landlord who has agreed to representation by a licensee in a real estate transaction, evidenced by an executed, mandatory relationship disclosure, to whom a licensee owes the duties set forth in §?5-20. See Rhode Island General Laws 5-20.6-2
  • Licensee: means an individual licensed by the director as a real estate broker or real estate salesperson pursuant to chapter 20. See Rhode Island General Laws 5-20.6-2
  • Mandatory relationship disclosure: means a form that describes the relationship between a consumer and a principal broker and his or her affiliated licensees that meets the requirements of §?5-20. See Rhode Island General Laws 5-20.6-2
  • Principal broker: means a real estate broker licensed by the director who is designated by the brokerage to be responsible for the supervision and activities of his or her affiliated licensees in accordance with this chapter and chapter 20. See Rhode Island General Laws 5-20.6-2

(b)  Each principal broker shall keep a receipt of the executed, mandatory relationship disclosure in accordance with § 5-20.5-8(b).

History of Section.
P.L. 2007, ch. 344, § 2; P.L. 2007, ch. 403, § 2.