SB 5554 - DIGEST

     Declares that a licensee who enters into a brokerage relationship with a principal shall be limited to representing only that principal in the transaction.

     Specifies the duties of a seller's/landlord's agent.

     Specifies the duties of a buyer's/tenant's agent.

     Specifies the duties of a dual agent.

     Designates the duration of a brokerage relationship.

     Establishes compensation limits.

     Provides for vicarious liability and imputed knowledge tests.