Legal & Regulatory Information

2005 Summary of Key Professional Standards Changes

Antitrust and Boycotting.

Boycotting - Are you Guilty? Take This Test - (Save $100,000.00 or More)

Court Ruling Changes How Movables/Immovables are Determined

Do Not Call Program, Louisiana Public Service Commission

Escrow Disputes, LREC Rules & Regulations

FEMA Flood Map Update Information

Legal Assistance Hotline and License Law Interpretation

Multiple Offers, Presenting and Negotiating

RESPA (Real Estate Settlement Procedures Act) Do's and Dont's For Real Estate Brokers and Agents

Sign Ordinance Codes, City and Parish

Unlicensed Secretaries and Assistants

USA Patriot Act and Executive Order #13224

Jefferson Parish Home Mortgage

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LREC UPDATE ON MOLD PAMPHLET

Please note that the LA Real Estate Commission has elected NOT to develop its own unique Mold Pamphlet, but has instead, adopted the pamphlet published by the US Environmental Protection Agency. The pamphlet is available in its entirety on line at www.EPA.gov. Just type in the word 'mold' in the search block; the pamphlet is item 2, titled something like "A Brief Guide to Mold, Moisture and Your Home."

Citizens can also order a copy of the pamphlet by going to the bottom on the home page of the Mold pamphlet and clicking on the link to the National Service Center for Environmental Publications (NSCEP). It is my understanding that these are free, but each order is limited to five copies.

Three important points:

* The pamphlet is optional; brokerage firms may adopt policies about tracking use. The Commission does NOT require any proof of use.

* The Commission also said that, by just giving clients the web site to the EPA, that should suffice as notice. That's an option you might want to consider.

* The Commission also adopted an EPA pamphlet on commercial buildings, also available at www.EPA.gov. All pamphlets from the EPA are free, but you can order only five per order.

Annotation of offer rule goes into effect July 20

Changes to Section 3905 of the Louisiana Real Estate Commission's Rules & Regulations regarding annotation of offers will go into effect on July 20, 2003. The rule change requires designated agents to annotate all offers and counter offers. This effectively takes the burden off of licensees (who are not the designated agent) so that they would not be required to immediately present the offer. Under the new rule, it will be the designated agent who annotates offers and/or counteroffers as to the date and time they were received by that designated agent. Then, applying the requirements in Section 3901, the designated agent would be required to present the offer/counteroffer immediately. For more information, please contact contact Stephanie Boudreaux with LREC at 225-925-4771 or boudreaux@lrec.state.la.us, or Norman Morris at 1-800-266-8538 or norman@larealtors.org.

Do-Not-Call/Do-Not-Fax Toolkit

NAR rolled out a Do-Not-Call/Do-Not-Fax Toolkit at the 2003 Conference and Expo in San Francisco. The Toolkit provides REALTORS with over 100 pages of information on the new Do-Not-Call and Do-Not-Fax Rules including information on the safe harbor provision, how to access the registry, sample FTC Registry web pages, FTC and FCC consumer advisories, and NAR's webcast seminars on complying with the rules.

NAR distributed over 3000 copies of the Toolkit to conference registrants. As a result of the high-demand, NAR is making additional copies available to associations and members. Orders can be placed at the REALTOR.org. For more information on the Toolkit, please call NAR Information Central at 1-800-874-6500

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