N.D. Admin. Code 70-02-03-16

Current through Supplement No. 392, April, 2024

Section 70-02-03-16 - Licensee acting in own behalf to set forth terms and conditions and make disclosure

A broker or salesperson acting in his own behalf shall disclose his licensed status in writing to any person with whom he purchases, sells, exchanges, or options real property. All the terms and conditions of the transaction as agreed upon must be in writing, properly executed, and a copy furnished to such person. Copies of the disclosure of his licensed status and of the documents containing the terms and conditions of the transaction must be retained by the broker or salesperson and made available to the commission upon request.

N.D. Admin Code 70-02-03-16

Effective Septembers, 1989; amended effective January 1, 1992.

General Authority: NDCC 43-23-11.1(1)

Law Implemented: NDCC 43-23-11.1(1)