ARA/AREC Legislative Package

The following is a list of bills the Arkansas REALTORS® Association and/or the Arkansas Real Estate Commission sponsored during the last Arkansas legislative session.

ARA Bills:
HB 1354/Act 185 - A bill to limit the restrictive covenants in deeds, bills of assurance and other instruments and permits amending restrictive covenants at any time if the requirements in the covenant have been fulfilled.
 
HB 1388/Act 145 – A bill to outlaw the inclusion of transfer fee covenants in the bill of assurance/restrictive covenants when a subdivision is developed.
 
SB 309/Act 515 - Authorizes title insurers to issue a closing protection letter to a party to a real estate closing transaction that is not conducted by a licensed title insurance agency.
 
SB 401/Act 340 - Revises the Real Estate Licensee Lien Act and exempts specific salaried or hourly workers and exemption from certain licensing requirements.
 
SB 720/Act 762 - Authorizes real estate licensees to prepare and charge for broker’s price opinions and authorizes the Real Estate Commission to prescribe rules.
 
 
AREC Bills:
HB 1615/Act 877 – This bill clarifies agency duties for real estate licensees and provides for a waiver of certain agency duties by sellers and buyers who choose to do business with brokers who operate business models that provide fewer services than the traditional full-service broker.
 
HB 1795/Act 883 – This bill clarifies exemptions from licensure for officers of certain business entities that own real estate.   It also extends the licensure exemption to employees of large corporations or banks who work primarily on  a salaried or hourly wage basis as long as the employee works only with property owned or acquired by the employer and does so for only one employer  whose primary business activity is not ownership or acquisition of real estate.
 
SB 636/Act 865 - This bill clarifies that any person who brokers the sale of a business located in the state of Arkansas that includes real estate must hold an active Arkansas real estate license.