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17-42-107. Capacity to sue and be sued — Definition.
Arkansas Code — all titles (historical 2020) · legal_authorities
17-42-107. Capacity to sue and be sued — Definition.
(a) An action or suit shall not be instituted, nor recovery be had, in any court of this state by any person or other legal entity for compensation for performance of any acts described in § 17-42-103(10) unless at the time of offering to perform and performing any such act or procuring any promise to contract for the payment of compensation for any such contemplated act:
(1) The person holds an active license under this chapter as a principal broker; or
(2) The person or other legal entity was the owner of the real estate firm that contracted for or otherwise performed the acts for the compensation that is the subject of the action or suit through either a principal broker or a person approved by the Arkansas Real Estate Commission under § 17-42-301(f) while licensed or approved by the commission at the time of the acts.
(b) No salesperson, executive broker, or associate broker may sue in his or her own capacity for the recovery of fees, commissions, or compensation for services as a salesperson, executive broker, or associate broker unless the action is against the principal broker with whom he or she is licensed or was licensed at the time the acts were performed.
(c)(1) As used in this subsection, “systematic residential rental property inspection program” means a program that requires all persons who reside outside of the State of Arkansas and are owners of residential rental property located within the corporate limits of a municipality in this state to designate an agent for service of process.
(2) In any municipality that has established a systematic residential rental property inspection program, a licensee as defined under § 17-42-103 shall not have criminal or civil liability to the municipality
Source: Arkansas Code — historical release 78 (November 6, 2020) · 17-42-107
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:17-42-107
Source file: gov.ar.code.title.17.odt
Pages: Not recorded – Not recorded
Passage SHA-256: fc8e0beaea01eed6d51b493cef8a95a70ab0cacfcc1005de07a910ebf4821eab
Source location: content.xml paragraph 14997
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17-42-107. Capacity to sue and be sued — Definition.
(a) An action or suit shall not be instituted, nor recovery be had, in any court of this state by any person or other legal entity for compensation for performance of any acts described in § 17-42-103(10) unless at the time of offering to perform and performing any such act or procuring any promise to contract for the payment of compensation for any such contemplated act:
(1) The person holds an active license under this chapter as a principal broker; or
(2) The person or other legal entity was the owner of the real estate firm that contracted for or otherwise performed the acts for the compensation that is the subject of the action or suit through either a principal broker or a person approved by the Arkansas Real Estate Commission under § 17-42-301(f) while licensed or approved by the commission at the time of the acts.
(b) No salesperson, executive broker, or associate broker may sue in his or her own capacity for the recovery of fees, commissions, or compensation for services as a salesperson, executive broker, or associate broker unless the action is against the principal broker with whom he or she is licensed or was licensed at the time the acts were performed.
(c)(1) As used in this subsection, “systematic residential rental property inspection program” means a program that requires all persons who reside outside of the State of Arkansas and are owners of residential rental property located within the corporate limits of a municipality in this state to designate an agent for service of process.
(2) In any municipality that has established a systematic residential rental property inspection program, a licensee as defined under § 17-42-103 shall not have criminal or civil liability to the municipality, to the nonresident owner, or otherwise for any action or inaction of the municipality or owner:
(A) When acting as an agent for service of process for a nonresident owner;
(B) Arising from the agent's performance of duties as the agent for service of process; and
(C) If within three (3) business days of receipt of service of process or at other times established by ordinance in effect as of August 12, 2005, the licensee sends the service of process to the last known address of the nonresident owner.
(3) This subsection supersedes any provision of common law to the contrary.
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Arkansas Code — all titles (historical 2020) · legal_authorities
17-42-103. Definitions.
As used in this chapter:
(1)(A) “Associate broker” means an individual who has a broker's license and who is employed by a principal broker, or is associated with a principal broker as an independent contractor, and who participates in any activity described in subdivision (10) of this section while under the supervision of a principal broker or executive broker.
(B) An associate broker shall have no supervisory authority over any other licensee;
(2) “Branch office” means a principal broker's office other than his or her principal place of business;
(3) “Broker's price opinion” means an estimate prepared by a licensee that details the probable selling price of real estate and provides a varying level of detail about the real estate's condition, market, and neighborhood, and information about sales of comparable real estate;
(4) “Classroom hour” means a period of at least fifty (50) minutes, but not more than sixty (60) minutes, of actual classroom instruction with the instructor present;
(5) “Continuing education” means postlicensure education derived from participation in courses in real estate-related subjects that have been approved by the Arkansas Real Estate Commission or that are not required to be approved by the commission;
(6) “Continuing education unit” means a period of ten (10) contact hours of actual classroom instruction with the instructor present;
(7)(A) “Executive broker” means an individual who:
(i) Has a broker's license;
(ii) Is employed by a principal broker or associated with a principal broker as an independent contractor; and
(iii) Participates in any activity described in subdivision (10) of this section while under the supervision of a principal broker.
(B) An executive broker may supervise assoc
Source: Arkansas Code — historical release 78 (November 6, 2020) · 17-42-103
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 17-42-103. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
17-42-301. License required — Violations.
(a) No person shall practice or represent himself or herself as a real estate broker or salesperson without first applying for and receiving a license to practice under this chapter.
(b) Any person who directly or indirectly for another with the intention, or on the promise of receiving any valuable consideration, offers, attempts, or agrees to perform any single act described in § 17-42-103(10), whether as part of a transaction or as an entire transaction, shall be deemed a broker or salesperson within the meaning of this chapter.
(c) The commission of a single act by a person required to be licensed under this chapter and not so licensed shall constitute a violation of this chapter.
(d) It shall be unlawful for any person, directly or indirectly, to act as a real estate broker or salesperson without first obtaining a license and otherwise complying with the provisions of this chapter.
(e)(1) Notwithstanding the provisions of this section, a person or other legal entity not licensed by the Arkansas Real Estate Commission may own a real estate firm, provided the employees or agents employed by or associated with the firm who perform real estate activities identified under § 17-42-103(10) hold an active license under this chapter.
(2) The firm may enter into contracts or otherwise perform activities identified under § 17-42-103(10) only through a principal broker and a licensee employed by or associated with the principal broker that holds an active license issued by the commission at the time of performing the contract or activities.
(f) The commission may provide for the continuing temporary operation of a real estate firm having all rights under § 17-42-107(a) upon the death, resignation, termination, or incapaci
Source: Arkansas Code — historical release 78 (November 6, 2020) · 17-42-301
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 17-42-301. This identifies an authority to review, not proof of applicability.