339.810. Misrepresentation, client liability--licensee liability--liability for subagent, limited agent licensee liability--licensee as subagent, liability.
Misrepresentation, client liability--licensee liability--liabilityfor subagent, limited agent licensee liability--licensee as subagent,liability.
339.810. 1. A client shall not be liable for a misrepresentation ofsuch client's limited agent or subagent arising out of the limited agencyagreement unless the client knew or should have known of themisrepresentation.
2. A client shall not be liable for a misrepresentation of suchclient's transaction broker arising out of the transaction broker agreementunless the client has actual knowledge of the misrepresentation.
3. A licensee who is serving as a limited agent or subagent of aclient shall not be liable for misrepresentation of such licensee's clientarising out of the brokerage agreement unless the licensee knew or shouldhave known of the misrepresentation.
4. A licensee who is serving as a limited agent of a client shall notbe liable for a misrepresentation of any subagent unless the licensee knewor should have known of the misrepresentation. A limited agent licenseeshall not be liable for misrepresentation of an affiliated licensee unlesssuch limited agent licensee knew or should have known of themisrepresentation.
5. A licensee who is serving as a subagent shall not be liable for amisrepresentation of the limited agent unless the subagent knew or shouldhave known of the misrepresentation.
6. A licensee who is serving as a transaction broker shall not beliable for misrepresentation of such licensee's client arising out of thebrokerage agreement unless the licensee had actual knowledge of themisrepresentation.
(L. 1996 S.B. 664 § 11, A.L. 1998 H.B. 1601, et al.)Effective 1-1-99