reglab/statecodes huggingface dataset:
2023 Indiana Code › Title 25. Professions and Occupations › Article 34.1. Real Estate Brokers and Salespersons › Chapter 8. Real Estate Appraiser Licensure and Certification Board › 25-34.1-8-13. Real Estate Appraiser Courses; Approval

Sec. 13. A person may not conduct, solicit, or accept student enrollment for a real estate appraiser course represented as satisfying the requirements of the board without approval of the course by the Appraiser Qualifications Board, under the regulatory oversight of the Appraisal Subcommittee established under Title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (12 U.S.C. 3331 et seq.).
As added by P.L.183-1991, SEC.17. Amended by P.L.57-2007, SEC.8.
2023 Indiana Code › Title 25. Professions and Occupations › Article 34.1. Real Estate Brokers and Salespersons › Chapter 8. Real Estate Appraiser Licensure and Certification Board › 25-34.1-8-14. Repealed

As added by P.L.183-1991, SEC.18. Repealed by P.L.57-2007, SEC.9.
2023 Indiana Code › Title 25. Professions and Occupations › Article 34.1. Real Estate Brokers and Salespersons › Chapter 8. Real Estate Appraiser Licensure and Certification Board › 25-34.1-8-15. Use of Investigative Fund

Sec. 15. The office of the attorney general and the professional licensing agency may use the investigative fund established by section 7.5 of this chapter to hire investigators and other employees to administer and enforce the provisions of this article and to investigate and prosecute real estate fraud and real estate appraisal fraud.
As added by P.L.145-2003, SEC.13.
2023 Indiana Code › Title 25. Professions and Occupations › Article 34.1. Real Estate Brokers and Salespersons › Chapter 9. Continuing Education › 25-34.1-9-1. "Council" Defined

Sec. 1. As used in this chapter, "council" refers to the real estate education advisory council established by this chapter.
As added by P.L.120-1992, SEC.3.
2023 Indiana Code › Title 25. Professions and Occupations › Article 34.1. Real Estate Brokers and Salespersons › Chapter 9. Continuing Education › 25-34.1-9-3. Membership

Sec. 3. The council consists of five (5) members, three (3) of whom must be recommended by the Indiana association of realtors and appointed by the commission.
As added by P.L.120-1992, SEC.3. Amended by P.L.127-2012, SEC.35.
2023 Indiana Code › Title 25. Professions and Occupations › Article 34.1. Real Estate Brokers and Salespersons › Chapter 9. Continuing Education › 25-34.1-9-4. Term of Office

Sec. 4. Each member of the council shall be appointed by the commission for a two (2) year term. If a successor has not been appointed, the current member serves until a successor is appointed and qualified.
As added by P.L.120-1992, SEC.3.
2023 Indiana Code › Title 25. Professions and Occupations › Article 34.1. Real Estate Brokers and Salespersons › Chapter 9. Continuing Education › 25-34.1-9-5. Vacancies

Sec. 5. If a vacancy occurs on the council, the commission shall appoint an individual to serve the unexpired term of the previous member and until a successor is appointed and qualified.
As added by P.L.120-1992, SEC.3.
2023 Indiana Code › Title 25. Professions and Occupations › Article 34.1. Real Estate Brokers and Salespersons › Chapter 9. Continuing Education › 25-34.1-9-8. Meetings

Sec. 8. The council shall meet upon the call of the chairman or at the request of the commission. The chairman shall establish the time and place of all meetings.
As added by P.L.120-1992, SEC.3.
2023 Indiana Code › Title 25. Professions and Occupations › Article 34.1. Real Estate Brokers and Salespersons › Chapter 9. Continuing Education › 25-34.1-9-9. Implementation and Courses Under This Chapter

Sec. 9. (a) The council shall make recommendations to the commission concerning the following:
(1) Requirements for sponsors of courses under this chapter.
(2) Requirements for instructors to be used by sponsors in providing courses under this chapter.
(3) Requirements for the curricula for postlicensing and continuing education courses under this chapter.
(4) Rules to implement this chapter.
(5) Other issues identified by the commission to implement this chapter.
(b) Notwithstanding IC 25-1-4, the commission shall approve all postlicensing and continuing education courses.
(c) The commission may, with the advice of the council, approve online education required for licensing.
As added by P.L.120-1992, SEC.3. Amended by P.L.127-2012, SEC.36.
2023 Indiana Code › Title 25. Professions and Occupations › Article 34.1. Real Estate Brokers and Salespersons › Chapter 9. Continuing Education › 25-34.1-9-10. Completion of Approved Education Requirement; Exception

Sec. 10. Except for an individual who has been granted an inactive license under IC 25-34.1-3-10, an individual who is licensed as a real estate broker under IC 25-34.1-3-4.1 must complete the approved education requirement each year.
As added by P.L.120-1992, SEC.3. Amended by P.L.127-2012, SEC.37.
2023 Indiana Code › Title 25. Professions and Occupations › Article 34.1. Real Estate Brokers and Salespersons › Chapter 9. Continuing Education › 25-34.1-9-11. Approved Education Requirement

Sec. 11. (a) The approved education requirement is as follows:
(1) At least twelve (12) hours per year and at least thirty-six (36) hours per three (3) year renewal cycle in any of the following subjects, as determined by the commission:
(A) License and escrow law.
(B) Anti-trust law.
(C) Civil rights law.
(D) Agency law.
(E) Listing contracts and purchase agreements.
(F) Ethics and professionals standards.
(G) Settlement procedures.
(H) Appraising.
(I) Property management.
(J) Farm property management.
(K) Commercial brokerage and leasing.
(L) Financing.
(M) Residential brokerage.
(N) Land development.
(O) Legislative issues affecting the real estate practice.
(P) Other courses approved by the commission.
(b) An attorney in good standing licensed to practice law in Indiana may satisfy the requirements of subsection (a) by completing the number of hours required by subsection (a) in continuing legal education courses in the subject matters listed in subsection (a).
(c) An individual who applies for a broker's license after June 30, 2014, must, during the first two (2) years after the license is issued, take and pass at least thirty (30) hours of postlicensing education focused on the practical matters of real estate transactions instead of the continuing education requirements under this chapter.
(d) For license renewal, a managing broker must complete at least twelve (12) hours of continuing education each year and at least thirty-six (36) hours per three (3) year renewal cycle. At least four (4) hours of the continuing education each year must be dedicated to the necessary business and management skills and legal knowledge needed by a managing broker. The commission shall develop or approve the continuing education courses for managing brokers.
As added by P.L.120-1992, SEC.3. Amended by P.L.182-1996, SEC.4; P.L.127-2012, SEC.38; P.L.116-2015, SEC.17.
2023 Indiana Code › Title 25. Professions and Occupations › Article 34.1. Real Estate Brokers and Salespersons › Chapter 9. Continuing Education › 25-34.1-9-12. Course Sponsor; Approval Requirements

Sec. 12. To obtain approval as a continuing education course sponsor, the sponsor must do the following:
(1) Provide the commission information on courses, curriculum, and facilities as determined by the commission.
(2) Limit the number of credit hours that may be offered in a twenty-four (24) hour period for the course to a number not more than the amount established by the commission by rule.
(3) Provide each participant who successfully completes an approved course a certificate that contains the following:
(A) The name of the participant.
(B) The name, address, and signature of the sponsor.
(C) The number of approved credit hours.
(D) The date of the program.
(E) Any other information required by the commission.
(4) Pay a fee determined by the commission.
(5) Meet any standard that the commission adopts by rule.
As added by P.L.120-1992, SEC.3.
2023 Indiana Code › Title 25. Professions and Occupations › Article 34.1. Real Estate Brokers and Salespersons › Chapter 9. Continuing Education › 25-34.1-9-13. Approved Sponsor; Records; Attendance Roster; Evaluation; Transmittal Form

Sec. 13. (a) A continuing education sponsor that has received approval under section 12 of this chapter must maintain records for five (5) years of the participants who successfully complete and pass the course. If the sponsor ceases operations, the owner shall place the records in the care of a custodian that is approved by the commission.
(b) A continuing education sponsor shall, not later than ten (10) days after a continuing education course is offered, submit the following to the commission:
(1) A completed continuing education attendance roster of all participants. The roster must include the full legal name, address of residence, and any other identifying information required by the commission of each participant. The names must be submitted to the commission in alphabetical order.
(2) A completed continuing education evaluation transmittal form for each of the participants.
As added by P.L.120-1992, SEC.3. Amended by P.L.173-2016, SEC.2.
2023 Indiana Code › Title 25. Professions and Occupations › Article 34.1. Real Estate Brokers and Salespersons › Chapter 9. Continuing Education › 25-34.1-9-14. Expiration of Sponsor Approval; Renewal Requirements

Sec. 14. (a) The approval for a sponsor for a broker's course expires December 31 each even-numbered year.
(b) A sponsor must submit:
(1) a letter requesting renewal of approval; and
(2) the renewal fee;
at least thirty (30) days before a sponsor's approval expires.
As added by P.L.120-1992, SEC.3. Amended by P.L.127-2012, SEC.40.
2023 Indiana Code › Title 25. Professions and Occupations › Article 34.1. Real Estate Brokers and Salespersons › Chapter 9. Continuing Education › 25-34.1-9-15. Inspection; Approved Sponsor Records and Facilities

Sec. 15. The commission may inspect an approved sponsor's records and facilities.
As added by P.L.120-1992, SEC.3.
2023 Indiana Code › Title 25. Professions and Occupations › Article 34.1. Real Estate Brokers and Salespersons › Chapter 9. Continuing Education › 25-34.1-9-15.5. Commission Denial, Suspension, or Revocation of Approval of Courses or Course Sponsors

Sec. 15.5. (a) The commission may deny, suspend, or revoke approval of any course or course sponsor if the commission determines that the course sponsor, by the act of an employee or agent, has failed to comply with the standards established in this chapter and the rules of the commission.
(b) The commission may deny, suspend, or revoke approval of any course instructor permit issued under this article if the commission determines that the instructor has failed to comply with the standards established in this chapter and the rules of the commission.
(c) The commission may deny, suspend, or revoke approval of any course sponsor if the commission determines the course sponsor:
(1) falsifies attendance information for continuing education courses submitted to the commission; or
(2) fails to provide the commission with attendance information required under section 13(b) of this chapter.
As added by P.L.200-2013, SEC.10. Amended by P.L.173-2016, SEC.3.
2023 Indiana Code › Title 25. Professions and Occupations › Article 34.1. Real Estate Brokers and Salespersons › Chapter 9. Continuing Education › 25-34.1-9-16. Advertising Sponsor or Course

Sec. 16. (a) A person may advertise that the sponsor or the sponsor's course is approved by the commission and fulfills the requirements of the commission.
(b) A person may not advertise that the sponsor or the sponsor's course is required or recommended by the commission.
As added by P.L.120-1992, SEC.3.
2023 Indiana Code › Title 25. Professions and Occupations › Article 34.1. Real Estate Brokers and Salespersons › Chapter 9. Continuing Education › 25-34.1-9-17. Renewal Period; Licensee Exemption From Continuing Education Requirement

Sec. 17. A licensee who is initially licensed in the second year of a renewal period is exempt from the continuing education requirements under this chapter for that renewal period.
As added by P.L.120-1992, SEC.3.
2023 Indiana Code › Title 25. Professions and Occupations › Article 34.1. Real Estate Brokers and Salespersons › Chapter 9. Continuing Education › 25-34.1-9-18. Application for Renewal; Certification Requirements

Sec. 18. An applicant for renewal must certify on the application that the applicant:
(1) has complied with the continuing education requirements;
(2) is exempt from the continuing education requirement because the individual has been licensed for less than one (1) year; or
(3) has not complied with the continuing education requirements but is seeking a waiver under section 19 of this chapter.
As added by P.L.120-1992, SEC.3.
2023 Indiana Code › Title 25. Professions and Occupations › Article 34.1. Real Estate Brokers and Salespersons › Chapter 9. Continuing Education › 25-34.1-9-19. Waiver Conditions; Continuing Education Requirement; Prohibited Activity

Sec. 19. The commission may grant an applicant a waiver from the continuing education requirement for the renewal period if the applicant meets one (1) of the following conditions:
(1) Was not able to fulfill the requirement due to a hardship that resulted from any of the following:
(A) Service in the armed forces of the United States during a substantial part of the renewal period.
(B) An incapacitating illness.
(C) Other circumstances determined by the commission.
(2) Has certified on approved forms to the commission the following:
(A) That the applicant has an active license but will not perform an act that requires a broker's license.
(B) That the applicant is affiliated with a managing broker for the sole purpose of making referrals to a licensed broker.
An individual granted a waiver under this subdivision may not perform an act that requires a broker's license until the individual has fulfilled the same continuing education requirements needed to reactivate an inactive license under IC 25-34.1-3-10(c) and IC 25-34.1-3-10(d) and applicable requirements under IC 25-34.1-3-10.5.
As added by P.L.120-1992, SEC.3. Amended by P.L.42-2011, SEC.58; P.L.127-2012, SEC.41.
2023 Indiana Code › Title 25. Professions and Occupations › Article 34.1. Real Estate Brokers and Salespersons › Chapter 9. Continuing Education › 25-34.1-9-20. Renewal License; Denial

Sec. 20. Subject to IC 25-1-4, the commission may deny renewal of the license of a licensee that does not fulfill the requirements of this chapter.
As added by P.L.120-1992, SEC.3. Amended by P.L.157-2006, SEC.74.
2023 Indiana Code › Title 25. Professions and Occupations › Article 34.1. Real Estate Brokers and Salespersons › Chapter 9. Continuing Education › 25-34.1-9-21. Implementation of Chapter

Sec. 21. The commission may adopt rules under IC 4-22-2 necessary to implement this chapter.
As added by P.L.120-1992, SEC.3.
2023 Indiana Code › Title 25. Professions and Occupations › Article 34.1. Real Estate Brokers and Salespersons › Chapter 9. Continuing Education › 25-34.1-9-22. Continuing Education Instructor Permits

Sec. 22. (a) Each instructor of a continuing education course under this chapter must have a permit issued by the commission.
(b) An instructor permit under subsection (a) must:
(1) be issued for a term of three (3) years and, subject to IC 25-1-2-6(e), expire on a date set by the licensing agency; and
(2) automatically expire if not renewed by the end of the permit period.
(c) An instructor issued a permit under subsection (a), must meet the following requirements:
(1) Be a licensed real estate broker or attorney licensed in Indiana, or an expert in the field working in conjunction with a licensed real estate broker or licensed attorney.
(2) Each year, complete four (4) hours of continuing education approved by the commission and specific to providing real estate instruction. Hours earned under this subdivision may be used toward the completion of the continuing education requirement for a broker under IC 25-34.1-9-11.
(3) Pay applicable fees established under rules adopted by the commission under IC 4-22-2.
(4) Meet any additional requirements established by the commission under rules adopted under IC 4-22-2.
(d) If a permit expires under subsection (b)(2), to return to active status, the instructor must:
(1) successfully complete continuing education requirements set by the commission;
(2) file a renewal application;
(3) pay a renewal fee under rules adopted by the commission under IC 4-22-2; and
(4) pay any applicable late fees established under rules adopted by the commission under IC 4-22-2.
(e) Instructors approved by the commission before July 1, 2013, shall be exempted from the requirement under subsection (c)(1).
(f) The commission may deny, suspend, or revoke approval of any instructor permit issued under this chapter if the commission determines that the instructor has failed to comply with the standards established in this chapter and the rules of the commission.
As added by P.L.200-2013, SEC.11. Amended by P.L.177-2015, SEC.73.
2023 Indiana Code › Title 25. Professions and Occupations › Article 34.1. Real Estate Brokers and Salespersons › Chapter 9. Continuing Education › 25-34.1-9-23. Electronic Continuing Education Tracking System

Sec. 23. The commission may enter into an agreement with an entity that is not a state agency or the federal government to provide through electronic means a continuing education tracking system. The system must provide an electronic record of the continuing education courses, classes, or programs completed by all individuals who are licensed under this article. All the following apply to an electronic system provided under this section:
(1) All continuing education tracking performed by the system must accurately reflect the continuing education requirements under this chapter.
(2) A confirmation of completed continuing education courses required under this chapter generated by the system is considered verification of completion for renewal of a license or registration and for purposes of any audit of licensees or registrants conducted by the commission.
(3) The system must provide access to an individual who is licensed or registered under this article and to the commission access to continuing education information about the individual.
(4) The commission shall adopt rules under IC 4-22-2 it considers appropriate or necessary to implement this section.
As added by P.L.173-2016, SEC.4.
2023 Indiana Code › Title 25. Professions and Occupations › Article 34.1. Real Estate Brokers and Salespersons › Chapter 10. Real Estate Agency Relationships › 25-34.1-10-0.5. "Agency Relationship"

Sec. 0.5. As used in this chapter, "agency relationship" means a relationship in which a licensee represents a client in a real estate transaction.
As added by P.L.130-1999, SEC.3.
2023 Indiana Code › Title 25. Professions and Occupations › Article 34.1. Real Estate Brokers and Salespersons › Chapter 10. Real Estate Agency Relationships › 25-34.1-10-1. "Broker"

Sec. 1. As used in this chapter, "broker" means an individual or entity issued a broker's real estate license by the Indiana real estate commission.
As added by P.L.128-1994, SEC.6. Amended by P.L.130-1999, SEC.4.
2023 Indiana Code › Title 25. Professions and Occupations › Article 34.1. Real Estate Brokers and Salespersons › Chapter 10. Real Estate Agency Relationships › 25-34.1-10-5. "Client"

Sec. 5. As used in this chapter, "client" means a person who has entered into an agency relationship with a licensee.
As added by P.L.128-1994, SEC.6. Amended by P.L.130-1999, SEC.5.
2023 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. "Customer"

Sec. 6. As used in this chapter, "customer" means a person who is provided services in the ordinary course of business by a licensee but who is not a client.
As added by P.L.128-1994, SEC.6. Amended by P.L.130-1999, SEC.6.
2023 Indiana Code › Title 25. Professions and Occupations › Article 34.1. Real Estate Brokers and Salespersons › Chapter 10. Real Estate Agency Relationships › 25-34.1-10-6.5. "In-House Agency Relationship"

Sec. 6.5. As used in this chapter, "in-house agency relationship" means an agency relationship involving two (2) or more clients who are represented by different licensees within the same broker company.
As added by P.L.130-1999, SEC.7. Amended by P.L.116-2015, SEC.18.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 Indiana Code › Title 25. Professions and Occupations › Article 34.1. Real Estate Brokers and Salespersons › Chapter 11. Appraisal Management Companies › 25-34.1-11-13.3. Engaging a Real Estate Appraiser to Perform Appraisal; Proposed Contract Required; Contents; Acceptance

Sec. 13.3. (a) Before an appraisal management company may engage a real estate appraiser to perform an appraisal under this chapter, the appraisal management company shall provide the real estate appraiser with a proposed contract to perform the appraisal. The proposed contract must include the following:
(1) The order for appraisal.
(2) Information delineating the work to be completed.
(3) The date when the real estate appraiser must complete the appraisal.
(4) The terms and conditions for the payment of the real estate appraiser for the appraisal.
(b) A real estate appraiser may accept a proposed contract that is offered and signed, manually or electronically, by the appraisal management company by:
(1) signing a written contract and delivering the signed contract to the appraisal management company; or
(2) accepting the contract electronically through an electronic mail, facsimile transmission, or digital image to the appraisal management company.
As added by P.L.145-2018, SEC.1.
2023 Indiana Code › Title 25. Professions and Occupations › Article 34.1. Real Estate Brokers and Salespersons › Chapter 11. Appraisal Management Companies › 25-34.1-11-13.5. "Peers"; "Scope of Work"; Deadline for Appraisal Management Company to Pay Real Estate Appraiser; Exceptions; Inclusion of Real Estate Appraiser's Fee in Appraisal Report

Sec. 13.5. (a) As used in this section, "peers", with respect to a real estate appraiser who performs an appraisal assignment for an appraisal management company, means other real estate appraisers who have expertise and competency in a similar type of assignment.
(b) As used in this section, "scope of work", with respect to an appraisal assignment, means the type and extent of research and analysis in the appraisal assignment.
(c) Except as provided in subsection (d), an appraisal management company that engages a real estate appraiser as an independent contractor, as described in section 3 of this chapter, to perform an appraisal under this chapter shall pay the real estate appraiser for the appraisal not later than:
(1) the deadline indicated by the payment terms set forth in:
(A) the contract or agreement under which the appraisal management company engages the real estate appraiser to perform the appraisal, if applicable; or
(B) the real estate appraiser's invoice to the appraisal management company if:
(i) a contract or an agreement described in clause (A) does not exist with respect to the particular appraisal; or
(ii) a contract or an agreement described in clause (A) exists with respect to the particular appraisal, but does not address payment terms or clearly indicate a payment deadline; or
(2) forty-five (45) days after the delivery of the appraisal report to the appraisal management company by the real estate appraiser if:
(A) a contract, an agreement, or an invoice described in subdivision (1) does not exist with respect to the particular appraisal; or
(B) a contract, an agreement, or an invoice described in subdivision (1) exists with respect to the particular appraisal, but does not address payment terms or clearly indicate a payment deadline.
(d) The times set forth in subsection (c) for payment by an appraisal management company for an appraisal performed by a real estate appraiser under this chapter do not apply in the case of any of the following:
(1) A breach by the real estate appraiser of the contract or agreement under which the appraisal management company engages the real estate appraiser to perform the appraisal.
(2) The inclusion in the appraisal report of one (1) or more significant and material documented errors of law, regulation, or appraisal standards.
(3) The failure of the real estate appraiser's scope of work to meet or exceed:
(A) the expectations of parties who are regularly intended users for similar assignments; and
(B) what the actions of the real estate appraiser's peers would be in performing the same or a similar assignment.
(e) An appraisal management company may not prohibit a real estate appraiser from including in an appraisal report the real estate appraiser's fee amount for preparing the appraisal.
As added by P.L.15-2018, SEC.2.
2023 Indiana Code › Title 25. Professions and Occupations › Article 34.1. Real Estate Brokers and Salespersons › Chapter 11. Appraisal Management Companies › 25-34.1-11-14. Registration Forms

Sec. 14. The board shall prescribe forms for the registration of appraisal management companies under this chapter.
As added by P.L.77-2010, SEC.2.