1659 AMH APPE MADS 7

HB 1659 ‑ H AMDS 324 WITHDRAWN 3/14/95

By Representative Appelwick

     On page  9, beginning on line 29, strike all of section 8

     On page 10, line 17, strike "(1)"

     On page 10, beginning on line 21, strike all of subsection (2)

     On page 10, line 25, after "have" strike all material through "principals" on line 26 and insert "been applied to real estate brokers, affiliated licensees, and their principals before the effective date of this act except for the following:

     (1) Common law principles of liability of a principal for the acts, errors, or omissions of the principal's agent; and

     (2) Common law principles of liability of a licensee for the acts, errors, or omissions or a subagent whether or not under the licensee's supervision"

Renumber remaining sections consecutively and correct internal references accordingly.

EFFECT:  Restores application of common law principles of vicarious liability  between the principal and the principal's agent or subagent arising out of a brokerage relationship and between a broker and a subagent involved in the buying and selling of real estate.