Stricken language would be deleted from and underlined language would be added to present law.
1 State of Arkansas As Engrossed: H2/4/21
2 93rd General Assembly A Bill
3 Regular Session, 2021 HOUSE BILL 1165
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5 By: Representative Vaught
6 By: Senator Hester
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8 For An Act To Be Entitled
9 AN ACT TO AMEND THE EXEMPTIONS TO THE REAL ESTATE
10 LICENSE LAW; AND FOR OTHER PURPOSES.
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13 Subtitle
14 TO AMEND THE EXEMPTIONS TO THE REAL
15 ESTATE LICENSE LAW.
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18 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS:
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20 SECTION 1. Arkansas Code 17-42-104(a), concerning the exemptions to
21 the Real Estate License Law, is amended to add an additional subdivision to
22 read as follows:
23 (11) A person employed by a residential construction company
24 with respect to real property owned or leased by residential construction
25 company or an affiliated entity under common ownership in connection with the
26 proposed purchase, sale, rental, or leasing of real property owned by the
27 residential construction company or affiliated entity if:
28 (A) The employee provides a written disclosure to any
29 unrelated purchaser involved in the transaction that the employee is acting
30 exclusively on behalf of his or her employer who is the residential
31 construction company or affiliated entity and that the purchaser has a right
32 to be represented by his or her own licensed real estate agent;
33 (B) The primary business activity of both the residential
34 construction company and affiliated entity is not brokering the ownership or
35 acquisition of real estate; and
36 (C) The employee is not providing real estate services to
*JMB137* 02-04-2021 09:31:49 JMB137
 As Engrossed: H2/4/21 HB1165
1 or on behalf of more than one (1) entity not affiliated by common ownership.
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3 /s/Vaught
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2 02-04-2021 09:31:49 JMB137


Statutes affected:
Old version HB1165 Original - 1-12-2021 03:02 PM: 17-42-104(a)
Old version HB1165 V2 - 2-4-2021 09:32 AM: 17-42-104(a)
HB 1165: 17-42-104(a)
Old version of HB 1165 - 02-04-21: 17-42-104(a)
Old version of HB 1165 - 01-12-21: 17-42-104(a)