Any broker acting in a real estate transaction shall adopt a written agency disclosure office policy which specifically enumerates the types of brokerage service arrangements a licensee may offer or accept.
(a) The qualifying broker for each brokerage company shall provide every licensee a copy of the agency disclosure policy regarding the types of brokerage services offered by their company. This policy shall be explained to all licensees at least once a year.
(b) A form acknowledging receipt of the office policy statement and a satisfactory explanation of its contents shall be signed by each licensee and a copy retained by the brokerage company for three years.
Structure Code of Alabama
Title 34 - Professions and Businesses.
Chapter 27 - Real Estate Brokers.
Article 4 - Real Estate Consumer's Agency and Disclosure Act.
Section 34-27-80 - Short Title.
Section 34-27-81 - Definitions.
Section 34-27-83 - Agency Disclosure Office Policy.
Section 34-27-84 - Obligations of Licensees.
Section 34-27-85 - Services Licensees Required to Provide.
Section 34-27-86 - Misrepresentation or False Information Given by Licensee.
Section 34-27-87 - Duties Supersede Duties Based on Common Law.