§ 5-20.6-4. Duties owed by a transaction facilitator to a customer.
(a) A transaction facilitator owes the following duties to a customer:
(1) To perform agreed-upon ministerial acts timely and competently;
(2) To perform these acts with honesty, good faith, reasonable skill, and care;
(3) To properly account for money or property placed in the care and responsibility of the principal broker; and
(4) To protect confidential information when assisting customers as a dual facilitator.
(b) A licensee acting as a transaction facilitator does not owe any fiduciary duties to a customer except those duties specified in subsection (a).
History of Section.P.L. 1989, ch. 141 § 2; P.L. 1990, ch. 425, § 2; P.L. 1993, ch. 397, § 1; P.L. 2007, ch. 344, § 1; P.L. 2007, ch. 403, § 1; P.L. 2013, ch. 27, § 2; P.L. 2013, ch. 38, § 2; P.L. 2014, ch. 528, § 2.
Structure Rhode Island General Laws
Title 5 - Businesses and Professions
Chapter 5-20.6 - Relationships in Residential Real Estate Transactions
Section 5-20.6-1. - Legislative purpose.
Section 5-20.6-2. - Definitions.
Section 5-20.6-3. - Relationships — Creation and presumption.
Section 5-20.6-4. - Duties owed by a transaction facilitator to a customer.
Section 5-20.6-5. - Duties owed by a designated client representative to client.
Section 5-20.6-6. - Dual facilitator.
Section 5-20.6-7. - Duty to protect confidential information.
Section 5-20.6-8. - Mandatory relationship disclosure.
Section 5-20.6-9. - Written requirement for representation of a client.
Section 5-20.6-10. - Client representation contract — Minimum requirements.
Section 5-20.6-11. - Relationship and compensation.