reglab/housing_qa huggingface dataset:
IN Code § 25-34.1-10-6.8 (2021)
2021 Indiana Code|Title 25. Professions and Occupations|Article 34.1. Real Estate Brokers and Salespersons|Chapter 10. Real Estate Agency Relationships|25-34.1-10-6.8. "Licensee"

Sec. 6.8. As used in this chapter, "licensee" means an individual or entity issued a broker's real estate license by the Indiana real estate commission.As added by P.L.130-1999, SEC.8. Amended by P.L.127-2012, SEC.42.
IN Code § 25-34.1-10-7 (2021)
2021 Indiana Code|Title 25. Professions and Occupations|Article 34.1. Real Estate Brokers and Salespersons|Chapter 10. Real Estate Agency Relationships|25-34.1-10-7. "Limited Agent"

Sec. 7. As used in this chapter, "limited agent" means a licensee who, with the written and informed consent of all parties to a real estate transaction, represents both the seller and buyer or both the landlord and tenant and whose duties and responsibilities to a client are only those set forth in this chapter.As added by P.L.128-1994, SEC.6. Amended by P.L.130-1999, SEC.9.
IN Code § 25-34.1-10-8 (2021)
2021 Indiana Code|Title 25. Professions and Occupations|Article 34.1. Real Estate Brokers and Salespersons|Chapter 10. Real Estate Agency Relationships|25-34.1-10-8. "Real Estate Transaction"

Sec. 8. As used in this chapter, "real estate transaction" means the sale or lease of any legal or equitable interest in real estate.As added by P.L.128-1994, SEC.6.
IN Code § 25-34.1-10-9 (2021)
2021 Indiana Code|Title 25. Professions and Occupations|Article 34.1. Real Estate Brokers and Salespersons|Chapter 10. Real Estate Agency Relationships|25-34.1-10-9. "Subagent"

Sec. 9. As used in this chapter, "subagent" means a broker engaged to act for another broker in performing brokerage services for a client.As added by P.L.128-1994, SEC.6. Amended by P.L.130-1999, SEC.12.
IN Code § 25-34.1-10-9.5 (2021)
2021 Indiana Code|Title 25. Professions and Occupations|Article 34.1. Real Estate Brokers and Salespersons|Chapter 10. Real Estate Agency Relationships|25-34.1-10-9.5. Agency Relationship; Performance of Duties

Sec. 9.5. (a) A licensee has an agency relationship with, and is representing, the individual with whom the licensee is working unless:(1) there is a written agreement to the contrary; or(2) the licensee is merely assisting the individual as a customer without compensation.(b) If a licensee, under subsection (a)(1), does not have an agency relationship with the individual with whom the licensee is working due to the existence of a written agreement to the contrary, the licensee must perform at least the following duties under the written agreement:(1) Be available to receive and timely present offers and counteroffers for the purchase or lease of:(A) the property of the individual, if the individual is a seller or landlord; or(B) the property that the individual seeks to purchase or lease, if the individual is a buyer or tenant.(2) Assist in negotiating, completing real estate forms, communicating, and timely presenting offers, counteroffers, notices, and various addenda relating to the offers and counteroffers until:(A) a purchase agreement or lease is signed; and(B) all contingencies are satisfied or waived.(3) Timely respond to questions relating to offers, counter offers, notices, various addenda, and contingencies from the seller, landlord, buyer, or tenant pertaining to the subject property.(c) If:(1) a licensee described in subsection (b) fails to perform the duties set forth in subsection (b); and(2) another licensee performs those duties on behalf of or at the request of a seller, landlord, buyer, or tenant;the performance of those duties by the other licensee referred to in subdivision (2) does not constitute an agency relationship.(d) This section does not prohibit a licensee from performing duties in addition to the duties specified in this section on behalf of or at the request of a seller, landlord, buyer, or tenant in a real estate transaction.As added by P.L.130-1999, SEC.13. Amended by P.L.87-2006, SEC.8.
IN Code § 25-34.1-10-12 (2021)
2021 Indiana Code|Title 25. Professions and Occupations|Article 34.1. Real Estate Brokers and Salespersons|Chapter 10. Real Estate Agency Relationships|25-34.1-10-12. Licensee Acting as Limited Agent

Sec. 12. (a) A licensee may act as a limited agent only with the written consent of all parties to a real estate transaction. The written consent is presumed to have been given and all parties are considered informed for any party who signs a writing or writings at the time of entering into an agency relationship with the licensee that contains the following:(1) A description of the real estate transaction or types of real estate transactions in which the licensee will serve as a limited agent.(2) A statement that in serving as a limited agent, the licensee represents parties whose interests are different or even adverse.(3) A statement that a limited agent shall not disclose the following without the informed consent, in writing, of the parties to the real estate transaction:(A) Any material or confidential information, except adverse material facts or risks actually known by the licensee concerning the physical condition of the property and facts required by statute, rule, or regulation to be disclosed and that could not be discovered by a reasonable and timely inspection of the property by the parties.(B) That a buyer or tenant will pay more than the offered purchase price or offered lease rate for the property.(C) That a seller or landlord will accept less than the listed price or lease rate for the property.(D) What motivates a party to buy, sell, or lease the property.(E) Other terms that would create a contractual advantage for one (1) party over another party.(4) A statement that there will be no imputation of knowledge or information between any party and the limited agent or among licensees.(5) A statement that a party does not have to consent to the limited agency.(6) A statement that the consent of each party has been given voluntarily and that any limited agency disclosure has been read and understood.(b) A licensee acting as a limited agent may disclose and provide to both the seller and buyer property information, including listed and sold properties available through a multiple listing service or other information source.(c) A cause of action does not arise against a licensee for disclosing or failing to disclose information in compliance with this section, and the limited agent does not terminate the limited agency relationship by making a required disclosure.As added by P.L.128-1994, SEC.6. Amended by P.L.130-1999, SEC.16.
IN Code § 25-34.1-10-12.5 (2021)
2021 Indiana Code|Title 25. Professions and Occupations|Article 34.1. Real Estate Brokers and Salespersons|Chapter 10. Real Estate Agency Relationships|25-34.1-10-12.5. Representations by Licensees

Sec. 12.5. (a) An individual licensee affiliated with a broker company represents only the client with which the licensee is working in an in-house agency relationship. A client represented by an individual licensee affiliated with a broker company is represented only by that licensee to the exclusion of all other licensees. A managing broker does not represent any party in such transactions unless the managing broker has an agency relationship to personally represent a client.(b) A licensee who personally represents both the seller and buyer or both the landlord and tenant in a real estate transaction is a limited agent and is required to comply with the provisions of this chapter governing limited agents.(c) A licensee representing a client in an in-house agency relationship owes the client duties and obligations set forth in this chapter and shall not disclose material or confidential information obtained from the client to other licensees, except to the managing broker for the purpose of seeking advice or assistance for the client's benefit.(d) A broker company, a managing broker, and any affiliated licensee shall take reasonable and necessary care to protect any material or confidential information disclosed by a client to the client's in-house agent.(e) In all in-house agency relationships, a broker company, a managing broker, and an individual licensee possess only actual knowledge and information. There is no imputation of agency, knowledge, or information among or between clients, the broker company, the managing broker, and licensees. Information contained in records of prior transactions maintained by the broker company concerning any existing or previous adverse material facts or risks with respect to real property may not be imputed to a broker or affiliated licensee unless the broker or affiliated licensee had actual knowledge of any adverse material facts or risks with respect to the real property. A person may not bring a cause of action against a broker or licensee for failure to disclose adverse material facts or risks if the cause of action is based on imputed knowledge of the adverse material facts or risks.As added by P.L.130-1999, SEC.17. Amended by P.L.127-2012, SEC.45; P.L.150-2013, SEC.1; P.L.150-2013, SEC.2; P.L.116-2015, SEC.19.
IN Code § 25-34.1-10-13 (2021)
2021 Indiana Code|Title 25. Professions and Occupations|Article 34.1. Real Estate Brokers and Salespersons|Chapter 10. Real Estate Agency Relationships|25-34.1-10-13. Written Office Policy Regarding Agency Relationships; Disclosure of Policy; Disclosure of Compensation; Compensation Not Creating Agency Relationship

Sec. 13. (a) A managing broker shall develop and enforce a broker company written office policy that identifies and describes the agency relationships that a licensee may have with a seller, landlord, buyer, or tenant and that specifically permits or rejects the practice of disclosed limited agency.(b) At the beginning of an agency relationship, a licensee shall disclose in writing the broker company's written office policy set forth in this section before the disclosure by the potential seller, landlord, buyer, or tenant of any confidential information specific to that potential seller, landlord, buyer, or tenant.(c) Parties to a real estate transaction shall be advised whether compensation will be shared with other broker companies that may represent other parties to the transaction whose interests are different or even adverse.(d) The payment of compensation does not create an agency relationship between a licensee and a seller, landlord, buyer, or tenant.As added by P.L.128-1994, SEC.6. Amended by P.L.130-1999, SEC.18; P.L.127-2012, SEC.46; P.L.116-2015, SEC.20.
IN Code § 25-34.1-10-14 (2021)
2021 Indiana Code|Title 25. Professions and Occupations|Article 34.1. Real Estate Brokers and Salespersons|Chapter 10. Real Estate Agency Relationships|25-34.1-10-14. Commencement and Termination of Agency Relationship

Sec. 14. (a) The duties and obligations set forth in this chapter begin at the time the licensee enters into an agency relationship with a party to a real estate transaction and continues until the agency relationship terminates.(b) If the agency relationship is not fulfilled or completed for any reason, the agency relationship ends at the earlier of:(1) a date of expiration agreed upon by the parties; or(2) a termination of the relationship by the parties.(c) Except as otherwise agreed to in writing and as provided in subsection (b), a licensee representing a seller, landlord, buyer, or tenant owes no further duties or obligations after termination, expiration, or completion of the agency relationship, except:(1) accounting for all money and property received during the agency relationship; and(2) keeping confidential all information received during the course of the agency relationship that was made confidential by request or instructions from the client, unless:(A) the disclosure is required by law;(B) the client gives written consent to the disclosure; or(C) the information becomes public from a source other than the licensee or by subsequent words or conduct of the client.As added by P.L.128-1994, SEC.6. Amended by P.L.130-1999, SEC.19.
IN Code § 25-34.1-10-15 (2021)
2021 Indiana Code|Title 25. Professions and Occupations|Article 34.1. Real Estate Brokers and Salespersons|Chapter 10. Real Estate Agency Relationships|25-34.1-10-15. Fiduciary Duties Superseded

Sec. 15. The duties and obligations of a licensee set forth in this chapter supersede any fiduciary duties of a licensee to a party based on common law principles of agency to the extent that those common law fiduciary duties are inconsistent with the duties and obligations set forth in this chapter.As added by P.L.128-1994, SEC.6. Amended by P.L.130-1999, SEC.20.
IN Code § 25-34.1-10-16 (2021)
2021 Indiana Code|Title 25. Professions and Occupations|Article 34.1. Real Estate Brokers and Salespersons|Chapter 10. Real Estate Agency Relationships|25-34.1-10-16. Liability for Misrepresentation

Sec. 16. (a) A client is not liable for any misrepresentation made by a licensee in connection with the agency relationship, unless the client knew or should have known of the misrepresentation.(b) A licensee is not liable for any misrepresentation made by another licensee, unless the licensee knew or should have known of the other licensee's misrepresentation.As added by P.L.128-1994, SEC.6. Amended by P.L.130-1999, SEC.21.
IN Code § 25-34.1-10-17 (2021)
2021 Indiana Code|Title 25. Professions and Occupations|Article 34.1. Real Estate Brokers and Salespersons|Chapter 10. Real Estate Agency Relationships|25-34.1-10-17. Subagency Prohibited

Sec. 17. A licensee may not make an offer of subagency through a multiple listing service or other information source, or agree to appoint, cooperate with, compensate, or otherwise associate with a subagent in a real estate transaction. The elimination of subagency by this section is not intended to limit the rights of a licensee to cooperate with, compensate, or otherwise associate with another licensee who is not acting on behalf of a client.As added by P.L.130-1999, SEC.22.
IN Code § 25-34.1-11-1 (2021)
2021 Indiana Code|Title 25. Professions and Occupations|Article 34.1. Real Estate Brokers and Salespersons|Chapter 11. Appraisal Management Companies|25-34.1-11-1. "Appraisal"

Sec. 1. As used in this chapter, "appraisal" has the meaning set forth in IC 24-5-23.5-1.As added by P.L.77-2010, SEC.2.
IN Code § 25-34.1-11-2 (2021)
2021 Indiana Code|Title 25. Professions and Occupations|Article 34.1. Real Estate Brokers and Salespersons|Chapter 11. Appraisal Management Companies|25-34.1-11-2. "Appraisal Management Company"

Sec. 2. As used in this chapter, "appraisal management company" means a person that, for compensation, acts as a third party intermediary by contracting with independent real estate appraisers to perform appraisals for other persons.As added by P.L.77-2010, SEC.2.
IN Code § 25-34.1-11-3 (2021)
2021 Indiana Code|Title 25. Professions and Occupations|Article 34.1. Real Estate Brokers and Salespersons|Chapter 11. Appraisal Management Companies|25-34.1-11-3. "Appraisal Management Services"

Sec. 3. (a) As used in this chapter, "appraisal management services" means any of the following functions:(1) To recruit, qualify, verify licensing or certification, or negotiate fees and service level expectations with independent real estate appraisers on behalf of a person seeking an appraisal.(2) To receive an order for an appraisal from a person and deliver the order for completion to a independent real estate appraiser.(3) To track and determine the status of orders for appraisals.(4) To conduct quality control of a completed appraisal before delivery of the appraisal to the client who ordered the appraisal.(5) To provide a completed appraisal performed by a real estate appraiser to one (1) or more clients.(b) The term does not include transportation or communication of an appraisal or order for an appraisal without concern for the appraisal information in the appraisal or the order for an appraisal, including transportation or communication by the United States Postal Service, a delivery company, a courier, or an Internet service provider.As added by P.L.77-2010, SEC.2.
IN Code § 25-34.1-11-4 (2021)
2021 Indiana Code|Title 25. Professions and Occupations|Article 34.1. Real Estate Brokers and Salespersons|Chapter 11. Appraisal Management Companies|25-34.1-11-4. "Board"

Sec. 4. As used in this chapter, "board" refers to the real estate appraiser licensure and certification board established by IC 25-34.1-8-1.As added by P.L.77-2010, SEC.2.
IN Code § 25-34.1-11-5 (2021)
2021 Indiana Code|Title 25. Professions and Occupations|Article 34.1. Real Estate Brokers and Salespersons|Chapter 11. Appraisal Management Companies|25-34.1-11-5. "Person"

Sec. 5. (a) As used in this chapter, "person" means an individual engaged in a trade or business, an association, a partnership, a limited partnership, a limited liability company, a corporation, or a similar entity.(b) The term does not include an employee.As added by P.L.77-2010, SEC.2.
IN Code § 25-34.1-11-6 (2021)
2021 Indiana Code|Title 25. Professions and Occupations|Article 34.1. Real Estate Brokers and Salespersons|Chapter 11. Appraisal Management Companies|25-34.1-11-6. "Real Estate Appraiser"

Sec. 6. As used in this chapter, "real estate appraiser" means a person who:(1) prepares an appraisal for a real estate transaction in Indiana; and(2) meets one (1) or more of the following:(A) Is licensed as a real estate broker under IC 25-34.1 and performs real estate appraisals within the scope of the person's license.(B) Holds a real estate appraiser license or certificate issued under IC 25-34.1-8.As added by P.L.77-2010, SEC.2.
IN Code § 25-34.1-11-7 (2021)
2021 Indiana Code|Title 25. Professions and Occupations|Article 34.1. Real Estate Brokers and Salespersons|Chapter 11. Appraisal Management Companies|25-34.1-11-7. "Uspap"

Sec. 7. "USPAP" refers to the Uniform Standards of Professional Appraisal Practice, as published by the Appraisal Standards Board of the Appraisal Foundation, under the authority of Title XI of the federal Financial Institutions Reform, Recovery, and Enforcement Act (12 U.S.C. 3331-3351).As added by P.L.77-2010, SEC.2. Amended by P.L.15-2018, SEC.1.
IN Code § 25-34.1-11-8 (2021)
2021 Indiana Code|Title 25. Professions and Occupations|Article 34.1. Real Estate Brokers and Salespersons|Chapter 11. Appraisal Management Companies|25-34.1-11-8. Certificate of Registration Required

Sec. 8. An appraisal management company may not perform appraisal management services unless the appraisal management company has obtained a certificate of registration from the board under this chapter.As added by P.L.77-2010, SEC.2.
IN Code § 25-34.1-11-9 (2021)
2021 Indiana Code|Title 25. Professions and Occupations|Article 34.1. Real Estate Brokers and Salespersons|Chapter 11. Appraisal Management Companies|25-34.1-11-9. Information and Fee Required for Registration

Sec. 9. (a) An appraisal management company that wishes to obtain or renew a certificate of registration under this chapter must submit the following information to the board on forms prescribed by the board:(1) The name of the person seeking registration.(2) The business address of the person seeking registration.(3) The telephone contact information of the person seeking registration.(4) The name, address, and contact information of each person that has an ownership share in an appraisal management company that equals or exceeds five percent (5%) of the total ownership share of the appraisal management company.(5) Any other information that the board reasonably requires.(b) An appraisal management company that wishes to obtain or renew a certificate of registration must pay the fee established under section 15 of this chapter.As added by P.L.77-2010, SEC.2.
IN Code § 25-34.1-11-10 (2021)
2021 Indiana Code|Title 25. Professions and Occupations|Article 34.1. Real Estate Brokers and Salespersons|Chapter 11. Appraisal Management Companies|25-34.1-11-10. Issuance of a Certificate of Registration

Sec. 10. (a) The board shall issue a certificate of registration to an appraisal management company that:(1) has furnished the information required by section 9(a) of this chapter in the manner prescribed by the board; and(2) paid the fee required under section 9(b) of this chapter.(b) Subject to IC 25-1-2-6(e), a certificate of registration issued to an appraisal management company under this chapter expires one (1) year after the date on which the certificate of registration is issued.As added by P.L.77-2010, SEC.2. Amended by P.L.177-2015, SEC.74; P.L.90-2019, SEC.48.
IN Code § 25-34.1-11-11 (2021)
2021 Indiana Code|Title 25. Professions and Occupations|Article 34.1. Real Estate Brokers and Salespersons|Chapter 11. Appraisal Management Companies|25-34.1-11-11. Restrictions on Appraisal Management Companies

Sec. 11. (a) A person may not own an interest in an appraisal management company if the person has had the person's license or certificate to act as a real estate appraiser in Indiana or any other state revoked and the license or certificate has not been reinstated.(b) An appraisal management company may only hire an independent contractor to perform an appraisal who:(1) holds a license or certificate under IC 25-34.1-3-8 or a license as a real estate broker under IC 25-34.1; and(2) is in good standing.(c) An appraisal management company may not corrupt or improperly influence a real estate appraiser in violation of IC 24-5-23.5-7.As added by P.L.77-2010, SEC.2.
IN Code § 25-34.1-11-12 (2021)
2021 Indiana Code|Title 25. Professions and Occupations|Article 34.1. Real Estate Brokers and Salespersons|Chapter 11. Appraisal Management Companies|25-34.1-11-12. Appraisal Reviews

Sec. 12. (a) As used in this section, "appraisal review" means the USPAP Standard 3 process of developing and communicating an opinion about the quality of an independent real estate appraiser's work that is performed as part of an appraisal assignment made by an appraisal management company. However, the term does not include:(1) an examination of an appraisal solely for grammatical errors, typographical errors, or similar errors; or(2) a quality control examination for completeness.(b) An individual who performs an appraisal review must hold a license or certificate under IC 25-34.1-3-8 or a license as a real estate broker under IC 25-34.1.As added by P.L.77-2010, SEC.2.
IN Code § 25-34.1-11-13 (2021)
2021 Indiana Code|Title 25. Professions and Occupations|Article 34.1. Real Estate Brokers and Salespersons|Chapter 11. Appraisal Management Companies|25-34.1-11-13. Service Requests; Record Requirements

Sec. 13. (a) An appraisal management company performing appraisal management services shall maintain a record of each service request for an appraisal that the appraisal management company receives. The following must be included in a record maintained under this subsection:(1) The person making the service request.(2) The date on which the service request is made.(3) The property to be appraised.(4) The real estate appraiser who performed the appraisal.(5) A copy of the appraisal produced for the service request.(6) The individuals who reviewed the appraisal.(7) The date on which the appraisal was delivered to the person who made the service request.(8) The costs and fees for the appraisal management services performed by the appraisal management company.(9) The costs and fees for the appraisal performed by the real estate appraiser.(b) An appraisal management company shall keep the records described in subsection (a) for not less than six (6) years after the date specified in subsection (a)(2).As added by P.L.77-2010, SEC.2.