HB 143: "An Act relating to the executive officer employed for the Real Estate Commission, to educational materials published by the Real Estate Commission, to the Real Estate Surety Fund, to contracts by the Real Estate Commission, and to disclosures in real property transactions."
00HOUSE BILL NO. 143 01 "An Act relating to the executive officer employed for the Real Estate 02 Commission, to educational materials published by the Real Estate Commission, 03 to the Real Estate Surety Fund, to contracts by the Real Estate Commission, 04 and to disclosures in real property transactions." 05 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 06 * Section 1. AS 08.88.031 is amended to read: 07 Sec. 08.88.031. Executive director [SECRETARY] of commission. The 08 department shall, after consultation with the commission, employ a person, who is not 09 a member of the commission, to serve as executive director [SECRETARY] for the 10 commission. The executive director [SECRETARY] shall perform duties as assigned 11 by the commission. 12 * Sec. 2. AS 08.88.091(a) is amended to read: 13 (a) The commission may conduct and assist in conducting real estate clinics, 14 meetings, courses, or institutes. The commission may
01 (1) assist libraries and educational institutions in sponsoring studies and 02 programs; and 03 (2) publish informational materials for the purpose of raising the 04 standards of the real estate business and the competency of licensees , except that the 05 commission may not publish educational materials that primarily address tenant 06 rights in landlord-tenant relationships . 07 * Sec. 3. AS 08.88.450 is amended to read: 08 Sec. 08.88.450. Real estate surety fund. The real estate surety fund is 09 established in the general fund to carry out the purposes of AS 08.88.450 - 08.88.495. 10 The fund is composed of payments made by real estate licensees under AS 08.88.455 11 and filing fees retained under AS 08.88.460. Money appropriated to the fund does 12 not lapse. The fund may not exceed $500,000 . Amounts [AND AMOUNTS] in the 13 fund [IN EXCESS OF $250,000] may not be appropriated for real estate educational 14 purposes [AS PROVIDED IN AS 08.88.091]. 15 * Sec. 4. AS 08.88.450 is amended by adding a new subsection to read: 16 (b) The Department of Commerce and Economic Development shall provide 17 the commission with a monthly statement of the activities of and balances in the real 18 estate surety fund. 19 * Sec. 5. AS 08.88.455(a) is amended to read: 20 (a) A real estate licensee, when applying for or renewing a real estate license, 21 in lieu of obtaining a corporate surety bond, shall pay to the commission , in addition 22 to the license fee, a surety fund fee not to exceed $125. After the fund reaches 23 $300,000 [$250,000], the commission shall by regulation adjust the surety fund fees 24 so that, taking into account anticipated expenditures for claims against the fund and 25 for hearing, investigative, and legal expenses under AS 08.88.472(a) [AND REAL 26 ESTATE EDUCATIONAL PURPOSES], the fund is maintained at a level that is not 27 less than $300,000 or more than $500,000 [$250,000]. 28 * Sec. 6. AS 08.88.472(a) is amended to read: 29 (a) The commission may charge to the real estate surety fund the costs of a 30 hearing on a claim for reimbursement held under AS 08.88.465 , the costs of the 31 investigation by the commission of a claim, and the costs of legal services provided
01 to the commission with regard to a claim . The commission shall deposit into the 02 real estate surety fund amounts recovered for these costs from the licensee under 03 AS 08.88.071(b) or from other parties under AS 08.88.490. 04 * Sec. 7. AS 08.88.472 is amended by adding a new subsection to read: 05 (c) The commission may contract under AS 36.30 (State Procurement Code) 06 with a person for the person to perform hearing, investigative, and legal services for 07 the commission with regard to a claim against the real estate surety fund. The contract 08 may cover one or more claims. 09 * Sec. 8. AS 34 is amended by adding a new chapter to read: 10 Chapter 95. Miscellaneous Provisions. 11 Sec. 34.95.010. Nondisclosure of certain information. (a) Notwithstanding 12 any other provision of law, a transferor of real property and the agent of the transferor 13 are not liable for damages or other penalties in a civil, criminal, or administrative 14 action for failing to disclose to the transferee certain background information about the 15 real property. 16 (b) In this section, 17 (1) "certain background information" means that 18 (A) a natural death, a suicide, or a murder or other crime 19 classified as a felony under state or federal law occurred on the real property; 20 (B) the real property is or has been owned or occupied by a 21 person exposed to the human immunodeficiency virus or diagnosed as having 22 acquired immune deficiency syndrome or another disease that has been 23 determined by medical evidence to be highly unlikely to be transmitted through 24 the occupancy of a dwelling place; or 25 (C) the real property is located in the vicinity of a person who 26 has registered or is required to register as a sex offender under AS 12.63 or 27 under a law or ordinance with similar requirements in another jurisdiction; 28 (2) "real property" includes an interest in real property. 29 * Sec. 9. APPLICABILITY. AS 34.95.010, enacted by sec. 8 of this Act, does not apply 30 to a transfer of real property unless the agreement, including an earnest money agreement, to 31 transfer the real property is entered into on or after the effective date of this Act.