WILLIAM DONALD SCHAEFER, Governor                           Ch. 719

(E)     (1) THE STATE REAL ESTATE COMMISSION SHALL REQUIRE A LICENSED
REAL ESTATE BROKER, LICENSED ASSOCIATE REAL ESTATE BROKER, OR LICENSED
REAL ESTATE SALESPERSON WHO PARTICIPATES IN A RESIDENTIAL REAL ESTATE
TRANSACTION TO UTILIZE A STANDARD DISCLOSURE FORM IN EACH REAL ESTATE
TRANSACTION THAT INCLUDES THE INFORMATION SPECIFIED IN SUBSECTION (B)(4)
(B)(5) OF THIS SECTION.

(2) THE REAL ESTATE COMMISSION SHALL REQUIRE A LICENSED REAL
ESTATE BROKER WHO ACTS AS A DUAL AGENT AND A LICENSED REAL ESTATE
ASSOCIATE BROKER OR LICENSED REAL ESTATE SALESPERSON WHO ACTS AS A
DESIGNATED DUAL AGENT IN A REAL ESTATE TRANSACTION TO UTILIZE A
STANDARD CONSENT FORM THAT INCLUDES THE INFORMATION SPECIFIED IN
SUBSECTION (D)(3) OF THIS SECTION.

(F)      (1) THE STATE REAL ESTATE COMMISSION SHALL PREPARE AND
PROVIDE A COPY OF:

(I)      THE STANDARD DISCLOSURE FORM REQUIRED UNDER
SUBSECTION (B) OF THIS SECTION TO EACH LICENSED REAL ESTATE BROKER,
LICENSED ASSOCIATE REAL ESTATE BROKER, AND LICENSED REAL ESTATE
SALESPERSON LICENSEE IN THIS STATE; AND

(II)     THE STANDARD CONSENT FORM REQUIRED UNDER
SUBSECTION (D) OF THIS SECTION TO EACH LICENSED REAL ESTATE BROKER,
LICENSED ASSOCIATE REAL ESTATE BROKER, AMD LICENSED REAL ESTATE
SALESPERSON LICENSEE IN THIS STATE.

(2) THE DISCLOSURE FORM AND THE CONSENT FORM SHALL BE:

(I)       WRITTEN IN A CLEAR AND COHERENT MANNER USING WORDS
WITH COMMON AND EVERYDAY MEANINGS;

(II)     APPROPRIATELY DIVIDED AND CAPTIONED BY THEIR
VARIOUS SECTIONS; AND

(III) PRINTED IN AT LEAST 10 POINT TYPE.

[(c)](G) The provisions of this section apply only to residential real estate
transactions of 1, 2, 3, or 4 single-family units.

[(d)](H) This section does not apply [:

(1) if a licensed real estate broker, licensed associate real estate broker, or
licensed real estate salesperson has entered into a written agreement for consideration to
represent a prospective buyer or lessee in the acquisition of real estate for sale or for
lease; or

(2)] to a lease of 125 days or less.

[(e)](I) The Commission may adopt regulations to implement the provisions of
this section.

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