The bill amends Section 19-14.10-17 of the General Laws, which pertains to prohibited acts and practices under the Federal Secure and Fair Enforcement for Mortgage Licensing Act of 2009. The amendment introduces a new provision that specifically prohibits individuals who are licensed as both real estate agents and mortgage loan originators from being compensated for both the sale of a property and the origination or referral of a loan in the same transaction. This aims to prevent potential conflicts of interest and ensure transparency in financial transactions involving real estate and mortgage services.

Additionally, the bill modifies existing language by removing a provision related to property insurance coverage. The act is set to take effect immediately upon passage.

Statutes affected:
5811: 19-14.10-17