58-3084. Expiration, suspension, deactivation or revocation of certain licenses; effect on pending closings. (a) A supervising broker or branch broker whose license is expired or is suspended, deactivated or revoked may not personally finalize any pending closings. This responsibility must be given to another broker, an attorney, a financial institution or an escrow company.
(b) If the commission has not authorized another broker to act as the supervising broker or branch broker, transfer of the responsibility for finalizing a pending closing shall be done with the written approval of all parties to the transaction.
(c) If the commission has not authorized another broker to act as the supervising broker or branch broker, all parties to the transaction shall be advised of the facts concerning the situation concerning the status of the license of the supervising broker or branch broker and shall be provided the name, address and telephone number of the responsible entity where all trust and escrow moneys will be held in accordance with the written agreement of the parties to the transaction.
(d) The provisions of this section shall be a part of and supplemental to the Kansas real estate brokers' and salespersons' license act.
History: L. 2007, ch. 88, § 14; L. 2009, ch. 7, § 8; July 1.
Structure Kansas Statutes
Chapter 58 - Personal And Real Property
Article 30 - Real Estate Brokers And Salespersons
58-3038 Licensure required for recovery of compensation for services; exceptions.
58-3039 Licensure; application; criminal history record check; qualifications; examination.
58-3041 Restricted or conditioned license.
58-3042 License nontransferable; only individuals licensed; primary office; supervising broker.
58-3044 Denial of license; hearing; incomplete applications.
58-3045 Expiration of license; renewal, fee; reinstatement and renewal of expired license, late fee.
58-3046a Licensure; educational requirements.
58-3046b Same; act supplemental to license act.
58-3048 Commission powers and duties.
58-3056 Costs of hearing; assessment; itemization.
58-3058 Appeal of commission orders.
58-3064 Injunction to enforce law.
58-3065 Penalties for violations; reporting of minor violations for prosecution not required.
58-3066 Recovery revolving fund; assessment of fees to maintain balance; payments; interest.
58-3067 Same; recovery from; limitations.
58-3068 Recovery revolving fund; use of moneys, limitations.
58-3069 Same; court order directing payment from, when; hearing; recovery limitation; attorney fees.
58-3070 Same; duties of commission in recovery actions; fees and expenses of counsel.
58-3071 Same; conditions on court order of directing payment.
58-3073 Same; unlawful acts; penalty.
58-3074 Disposition of moneys received by commission; real estate fee fund.
58-3077 Commercial real estate; sharing commissions with unlicensed persons, when authorized.
58-3078a Same; information regarding radon.
58-3079 Supervising broker; use of trade name.
58-3080 Licenses of certain licensees placed on inactive status, when, pending transactions.
58-3082 Suspended, deactivated or revoked license; effect on commissions.
58-3083 Expiration or deactivation of certain licenses; notifications required, when.
58-3085 Limitations on advertising, when.
58-3086 Advertising; prohibitions; requirements of; information disclosed; filing of agreements.
58-30,101 Title of act; compliance.
58-30,103 Written agency agreements; written transaction brokerage agreements.
58-30,104 Termination of relationships.
58-30,106 Minimum requirements of seller's or landlord's agent.
58-30,107 Minimum requirements of buyer's or tenant's agent.
58-30,110 Real estate brokerage relationships.
58-30,112 Forms; rules and regulations.
58-30,113 Transaction broker; obligations of; disclosure of information.