reglab/housing_qa huggingface dataset:
IA Code § 543B.41 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 543B - REAL ESTATE BROKERS AND SALESPERSONS|Section 543B.41 - Findings of fact.

543B.41 Findings of fact.   If the majority of the real estate commission shall determine that any applicant is not qualified to receive a license, a license shall not be granted to such applicant, and if the commission shall determine that any licensee is guilty of a violation of any of the provisions of this chapter, the license may be suspended or revoked. The commission, upon request of the applicant or licensee, shall furnish said applicant or licensee with a definite statement of its findings of fact and its reason or reasons for refusing to grant the license or for suspension of the rights of the licensee or for the revocation of the license, as the case may be. Judicial review of action of the commission may be sought in accordance with the terms of the Iowa administrative procedure Act, chapter 17A.  [C31, 35, §1905-c56; C39, §1905.53; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §117.41]  C93, §543B.41  2003 Acts, ch 44, §114  Referred to in §543B.43
IA Code § 543B.42 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 543B - REAL ESTATE BROKERS AND SALESPERSONS|Section 543B.42 - List of licensees.

543B.42 List of licensees.   The real estate commission shall at least annually prepare a list of the names and addresses of all licensees licensed by it under this chapter, and of all persons whose licenses have been suspended or revoked within one year; together with other information relative to the enforcement of this chapter as it deems of interest to the public. The lists shall be mailed by the commission to any person in this state upon request.  [C31, 35, §1905-c58; C39, §1905.55; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §117.42]  86 Acts, ch 1238, §6  C93, §543B.42
IA Code § 543B.43 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 543B - REAL ESTATE BROKERS AND SALESPERSONS|Section 543B.43 - Penalties.

543B.43 Penalties.   Any person found guilty of violating a provision of sections 543B.1 through 543B.24 and sections 543B.27 through 543B.41 in a first offense shall be guilty of a simple misdemeanor.  [C31, 35, §1905-c59; C39, §1905.56; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §117.43]  C93, §543B.43  2013 Acts, ch 90, §166; 2018 Acts, ch 1026, §159  Referred to in §543B.49  Civil penalty for unlicensed person acting as real estate broker or salesperson; §543B.34  Civil penalty for licensees; §543B.48
IA Code § 543B.44 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 543B - REAL ESTATE BROKERS AND SALESPERSONS|Section 543B.44 - Complaints referred to court.

543B.44 Complaints referred to court.   The real estate commission may refer a complaint for violation of section 543B.1 before any court of competent jurisdiction, and it may take the necessary legal steps through the proper legal officers of this state to enforce the provisions hereof and collect the penalties herein provided.  [C31, 35, §1905-c60; C39, §1905.57; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §117.44]  C93, §543B.44  Referred to in §543B.49
IA Code § 543B.45 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 543B - REAL ESTATE BROKERS AND SALESPERSONS|Section 543B.45 - Dual contracts for sale of real property.

543B.45 Dual contracts for sale of real property.   1. A person licensed under this chapter shall not knowingly make, issue, deliver, receive, or permit the use of two or more written or oral contracts for the purpose of sale concerning the same parcel of real estate one of which is not made known to the prospective lender or loan guarantor to enable the purchaser to obtain a larger loan than the true sales price would allow or to enable the purchaser to qualify for a loan which the purchaser otherwise could not obtain.   2. Any person who shall violate the provisions of this section shall be guilty of a fraudulent practice.  [C71, 73, 75, 77, 79, 81, §117.45; 81 Acts, ch 54, §22]  C93, §543B.45  2018 Acts, ch 1041, §127  Fraudulent practices, see §714.8
IA Code § 543B.47 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 543B - REAL ESTATE BROKERS AND SALESPERSONS|Section 543B.47 - Insurance requirement.

543B.47 Insurance requirement.   1. The real estate commission shall adopt rules requiring as a condition of licensure that all real estate licensees, except those who hold inactive licenses, carry errors and omissions insurance covering all activities contemplated under this chapter. The rules shall provide for administration of the insurance requirements of this section within the multiyear licensing structure required by section 543B.28. However, the rules shall require licensees to submit evidence of compliance with this section within twenty calendar days of the commission’s request, which may be made on a test basis, a random basis, or upon reasonable cause to question a licensee’s compliance.   2. The commission shall contract with an insurance provider for a group policy under which coverage is available to all licensees, and shall maintain coverage with the contracted provider unless the commission determines that continuing the contract is not reasonably practical. The contract shall be solicited by competitive, sealed bid.   3. The group policy shall be made available to all licensees and shall not include any right on the part of the insurance provider to cancel coverage for a licensee.   4. A licensee shall have the option of obtaining insurance independently, if the coverage contained in an independently obtained policy complies with the minimum requirements adopted by rule of the commission.   5. The commission shall determine the terms and conditions of coverage required by subsection 1, including but not limited to the minimum limits of coverage, the permissible deductible, and the permissible exceptions.   6. Failure of a license applicant or licensee to carry the errors and omissions insurance required by this section, or to timely submit proof of coverage upon commission request, shall be grounds for the denial of an application for licensure, the denial of an application to renew a license, or the suspension or revocation of a license.  90 Acts, ch 1126, §2  C91, §117.47  91 Acts, ch 97, §21  C93, §543B.47  2002 Acts, ch 1031, §3  Referred to in §543B.29
IA Code § 543B.48 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 543B - REAL ESTATE BROKERS AND SALESPERSONS|Section 543B.48 - Civil penalty amount.

543B.48 Civil penalty amount.   Notwithstanding section 272C.3, licensee discipline may include a civil penalty not to exceed two thousand five hundred dollars per violation.  2002 Acts, ch 1031, §4  Referred to in §543B.49
IA Code § 543B.49 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 543B - REAL ESTATE BROKERS AND SALESPERSONS|Section 543B.49 - Injunctive relief.

543B.49 Injunctive relief.   1. In addition to the penalty and complaint provisions of sections 543B.43, 543B.44, and 543B.48, an injunction may be granted through an action in district court to prohibit a person from engaging in an activity which violates the provisions of section 543B.1. The court shall grant a permanent or temporary injunction if it appears to the court that a violation has occurred or is imminently threatened. The plaintiff is not required to show that the violation or threatened violation would greatly or irreparably injure the plaintiff. No bond shall be required of the plaintiff unless the court determines that a bond is necessary in the public interest. The action for injunctive relief may be brought by an affected person. For the purposes of this section, “affected person” means any person directly impacted by the actions of a person suspected of violating the provisions of section 543B.1, including but not limited to the commission created in section 543B.8, a person who has utilized the services of a person suspected of violating the provisions of section 543B.1, or a private association composed primarily of members practicing a profession for which licensure is required pursuant to this chapter.   2. If successful in obtaining injunctive relief, the affected person shall be entitled to actual costs and attorney fees. For the purposes of this section, “actual costs” means those costs other than attorney fees which were actually incurred in connection with the action, including but not limited to court and witness fees, investigative expenses, travel expenses, legal research expenses, and other related fees and expenses.  2004 Acts, ch 1005, §3; 2006 Acts, ch 1055, §4
IA Code § 543B.50 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 543B - REAL ESTATE BROKERS AND SALESPERSONS|Section 543B.50 - Meetings.

543B.50 Meetings.   The real estate commission shall hold at least one meeting per year at the location of the commission’s principal office and shall elect a chairperson annually. A majority of the members of the commission shall constitute a quorum.  [C75, 77, 79, 81, §117.50]  88 Acts, ch 1158, §24  C93, §543B.50
IA Code § 543B.51 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 543B - REAL ESTATE BROKERS AND SALESPERSONS|Section 543B.51 - Public members.

543B.51 Public members.   The public members of the real estate commission shall be allowed to participate in administrative, clerical, or ministerial functions incident to giving the examination, but shall not determine the content of the examination or determine the correctness of the answers.  [C75, 77, 79, 81, §117.51]  C93, §543B.51
IA Code § 543B.52 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 543B - REAL ESTATE BROKERS AND SALESPERSONS|Section 543B.52 - Disclosure of confidential information.

543B.52 Disclosure of confidential information.   1. The commission shall not disclose information relating to the following:   a. The contents of the examination.   b. The examination results other than final score except for information about the results of an examination which is given to the person who took the examination.   2. A member of the commission who willfully communicates or seeks to communicate such information, and any person who willfully requests, obtains, or seeks to obtain such information, is guilty of a simple misdemeanor.  [C75, 77, 79, 81, §117.52]  C93, §543B.52  2008 Acts, ch 1059, §4
IA Code § 543B.53 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 543B - REAL ESTATE BROKERS AND SALESPERSONS|Section 543B.53 - Application of chapter.

543B.53 Application of chapter.   The provisions of this chapter which require successful completion of a real estate education course before being licensed as a real estate salesperson shall not apply to the issuance of new licenses pursuant to section 543B.28.  [C77, 79, 81, §117.53; 81 Acts, ch 54, §24]  C93, §543B.53  2017 Acts, ch 71, §11
IA Code § 543B.54 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 543B - REAL ESTATE BROKERS AND SALESPERSONS|Section 543B.54 - Real estate education fund.

543B.54 Real estate education fund. Repealed by 2013 Acts, ch 93, §3.
IA Code § 543B.55 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 543B - REAL ESTATE BROKERS AND SALESPERSONS|Section 543B.55 - Disclosure of relationship.

543B.55 Disclosure of relationship.   The real estate commission shall adopt rules requiring that each real estate broker or salesperson in a real estate transaction disclose in writing the broker’s or salesperson’s agency relationship with the buyer or seller in the transaction.  90 Acts, ch 1126, §3  C91, §117.55  C93, §543B.55
IA Code § 543B.56 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 543B - REAL ESTATE BROKERS AND SALESPERSONS|Section 543B.56 - Duties of licensees.

543B.56 Duties of licensees.   1. Duties to all parties in a transaction. In providing brokerage services to all parties to a transaction, a licensee shall do all of the following:   a. Provide brokerage services to all parties to the transaction honestly and in good faith.   b. Diligently exercise reasonable skill and care in providing brokerage services to all parties.   c. Disclose to each party all material adverse facts that the licensee knows except for the following:   (1) Material adverse facts known by the party.   (2) Material adverse facts the party could discover through a reasonably diligent inspection, and which would be discovered by a reasonably prudent person under like or similar circumstances.   (3) Material adverse facts the disclosure of which is prohibited by law.   (4) Material adverse facts that are known to a person who conducts an inspection on behalf of the party.   d. Account for all property coming into the possession of a licensee that belongs to any party within a reasonable time of receiving the property.   2. Duties to a client. In addition to the licensee’s duties under subsection 1, a licensee providing brokerage services to a client shall do all of the following:   a. Place the client’s interests ahead of the interests of any other party, unless loyalty to a client violates the licensee’s duties under subsection 1, section 543B.58, or under other applicable law.   b. Disclose to the client all information known by the licensee that is material to the transaction and that is not known by the client or could not be discovered by the client through a reasonably diligent inspection.   c. Fulfill any obligation that is within the scope of the agency agreement, except those obligations that are inconsistent with other duties that the licensee has under this chapter or any other law.   d. Disclose to a client any financial interests the licensee or the brokerage has in any business entity to which the licensee or brokerage refers a client for any service or product related to the transaction.   3. Prohibited conduct. In providing brokerage services, a licensee shall not do either of the following:   a. Accept a fee or compensation related to a transaction from a person other than the licensee’s client, unless the licensee has provided written notice to all parties to the transaction that a fee or compensation will be accepted by the licensee from such person.   b. Act in a transaction on the licensee’s own behalf, on behalf of the licensee’s immediate family or brokerage, or on behalf of an organization or business entity in which the licensee has an interest, unless the licensee has provided written disclosure of the interest to all parties to the transaction.  95 Acts, ch 17, §2; 96 Acts, ch 1054, §2  Referred to in §543B.57, 543B.58, 543B.61
IA Code § 543B.56A (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 543B - REAL ESTATE BROKERS AND SALESPERSONS|Section 543B.56A - Brokerage agreements — purpose — contents.

543B.56A Brokerage agreements — purpose — contents.   1. The purpose of this section is to promote the protection of the public by establishing minimum standards reasonably expected by the public in reliance upon the professional work product of real estate licensees. The reliance of the public and business community on sound professional opinions and assistance imposes on real estate licensees certain obligations both to their clients and to the public. The purpose of this section is also to assist in ensuring that licensees’ obligations are met including licensees’ exercising sound independent business judgment, striving to continuously improve professional business skills and knowledge in the industry, promoting sound and informative real estate reporting, and exercising the highest fiduciary duties to clients and the public.   2. A brokerage agreement shall specify that the broker shall, at a minimum, do all of the following:   a. Accept delivery of and present to the client offers and counteroffers to buy, sell, rent, lease, or exchange the client’s property or the property the client seeks to purchase or lease.   b. Assist the client in developing, communicating, negotiating, and presenting offers or counteroffers until a rental agreement, lease, exchange agreement, offer to buy or sell, or purchase agreement is signed and all contingencies are satisfied or waived and the transaction is completed.   c. Answer the client’s questions relating to the brokerage agreements, listing agreements, offers, counteroffers, notices, and contingencies.   d. Provide prospective buyers access to listed properties.  2005 Acts, ch 40, §2; 2011 Acts, ch 73, §4  Referred to in §543B.5, 543B.61
IA Code § 543B.57 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 543B - REAL ESTATE BROKERS AND SALESPERSONS|Section 543B.57 - Confirmation and disclosure of relationship.

543B.57 Confirmation and disclosure of relationship.   1. A licensee shall not represent any party or parties to a transaction or otherwise as a licensee unless that licensee makes an agency disclosure to the party or parties represented by the licensee.   2. a. The disclosure required in subsection 1 shall be made by the licensee at the time the licensee provides specific assistance to the client. A change in a licensee’s representation that makes the initial disclosure incomplete, misleading, or inaccurate requires that a new disclosure be made immediately.   b. A written disclosure is required to be made to the client prior to an offer being made or accepted. The written disclosure shall be acknowledged by separate signatures of the party or parties represented by the licensee prior to any offer being made or accepted by any party to a transaction.   c. For purposes of this section, “specific assistance” means eliciting or accepting confidential information about a party’s real estate needs, motivation, or financial qualifications, or eliciting or accepting information involving a proposed or preliminary offer associated with specific real estate. “Specific assistance” does not mean an open house showing, preliminary conversations concerning price range, location, and property styles, or responding to general factual questions concerning properties which have been advertised for sale or lease.   3. The written agency disclosure form shall contain all of the following:   a. A statement of which party is the licensee’s client or, if the licensee is providing brokerage services to more than one client as provided under section 543B.60, a statement of all persons who are the licensee’s clients.   b. A statement of the licensee’s duties to the licensee’s client under section 543B.56, subsections 1 and 2.   c. Any additional information that the licensee determines is necessary to clarify the licensee’s relationship to the licensee’s client or customer.   4. This section does not prohibit a person from representing oneself.   5. The seller, in the listing agreement, may authorize the seller’s licensee to disburse part of the licensee’s compensation to other licensees, including a buyer’s licensee solely representing the buyer. A licensee representing a buyer shall inform the listing licensee, if there is a listing licensee, either verbally or in writing, of the agency relationship before any negotiations are initiated. The obligation of either the seller or the buyer to pay compensation to a licensee is not determinative of the agency relationship.  95 Acts, ch 17, §3; 97 Acts, ch 82, §1; 2017 Acts, ch 71, §12  Referred to in §543B.60, 543B.61
IA Code § 543B.58 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 543B - REAL ESTATE BROKERS AND SALESPERSONS|Section 543B.58 - Licensees representing more than one client in a transaction.

543B.58 Licensees representing more than one client in a transaction.   1. A licensee shall not be the agent for both a buyer and a seller to a transaction without obtaining the written consent of both the buyer and the seller. The written consent shall state that the licensee has made a full disclosure of the type of representation the licensee will provide. The consent to multiple representation shall contain a statement of the licensee’s duties under section 543B.56, subsection 1, a statement of the licensee’s duties to the client under section 543B.56, subsection 2, paragraphs “b” and “c”, and a statement that the clients understand the licensee’s duties and consent to the licensee’s providing brokerage services to more than one client.   2. A consent to multiple representation may contain additional disclosures by the licensee or additional agreements between the licensee and the clients that do not violate any duty of a licensee under this chapter.  95 Acts, ch 17, §4  Referred to in §543B.56, 543B.61
IA Code § 543B.59 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 543B - REAL ESTATE BROKERS AND SALESPERSONS|Section 543B.59 - Appointed agents within a firm.

543B.59 Appointed agents within a firm.   1. Appointed agents. A real estate brokerage agency entering into a brokerage agreement, through a designated broker, may notify a client in writing of those affiliated licensees within the real estate brokerage agency who will be acting as appointed agents of that client to the exclusion of all other affiliated licensees within the real estate brokerage agency.   2. Dual agent. A real estate brokerage agency and a designated broker are not considered to be dual agents solely because of an appointment under the provisions of this section. However, an affiliated licensee who personally represents both the seller and the buyer in a particular transaction is considered to be a disclosed dual agent and is required to comply with the provisions of this subchapter governing disclosed dual agents.   3. Actual knowledge — information. A client, a real estate brokerage agency, and its appointed agents are deemed to possess only actual knowledge and information at the time the appointed agents are appointed. Knowledge or information is not imparted by operation of law among the clients, the real estate brokerage agency, and its appointed agents.   4. Appointments — roles. The commission shall define by rule the methods of appointment and the role of the real estate brokerage agency and the designated broker. The rules must include a requirement that clients be informed as to the real estate brokerage agency’s appointed agent policy and be given written notice of that policy in advance of entering into a brokerage agreement.  95 Acts, ch 17, §5  Referred to in §543B.61
IA Code § 543B.60 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 543B - REAL ESTATE BROKERS AND SALESPERSONS|Section 543B.60 - Licensees providing services in more than one transaction.

543B.60 Licensees providing services in more than one transaction.   A licensee may provide brokerage services simultaneously to more than one party in different transactions unless the licensee agrees with a client that the licensee is to provide brokerage services only to that client. If the licensee and a client agree that the licensee is to provide brokerage services only to that client, the agency agreement disclosure required under section 543B.57, subsection 1, shall contain a statement of that agreement.  95 Acts, ch 17, §6  Referred to in §543B.57, 543B.61