2006 Ohio Revised Code - [4735.62.1] 4735.621.Waiver of duties of licensee.

[§ 4735.62.1] § 4735.621. Waiver of duties of licensee.
 

(A)  The duties required of a licensee under section 4735.62 of the Revised Code may not be waived by a client. 

(B)  A licensee shall perform the duties required under section 4735.63 or 4735.65 of the Revised Code unless the client agrees to waive these duties, and signs a waiver of duties statement pursuant to division (C) of this section. 

(C)  The superintendent of real estate, with the approval of the Ohio real estate commission, shall establish by rule a waiver of duties statement that shall contain the following: 

(1) The fiduciary duties required of all licensees under section 4735.62 of the Revised Code; 

(2) A list of those duties contained in section 4735.63 or 4735.65 of the Revised Code, which shall be set forth in a manner that allows for the parties to indicate which of those duties are being waived; 

(3) A statement that no other licensee is required to perform the waived duty on behalf of the client; 

(4) A statement that legal counsel or other professionals may be hired by the client; 

(5) A place for the client and licensee to sign and date the statement. 
 

HISTORY: 151 v H 150, § 1, eff. 10-12-06.