863-015-0220

Written Company Policy

(1) Each real estate business shall develop and maintain a written company policy that sets forth the types of relationships real estate licensees associated with the business may establish. The policy shall include:

(a) Provisions on how licensees associated with the business will comply with the agency relationships set forth in OAR 863-015-0200;

(b) Procedures to ensure the protection of confidential information;

(c) Provisions regarding the supervision and control of licensees associated with the business in the fulfillment of their duties and obligations to their respective clients including but not limited to the requirements of OAR 863-015-0205;

(d) Provisions regarding the supervision of licensed personal assistants employed by the brokerage or employed by licensees associated with the brokerage;

(2) The development and maintenance of a policy under this section shall not relieve a licensee from liability for the failure to maintain confidential information.

Stat. Auth.: ORS 696.385 & ORS 183.335
Stats. Implemented: ORS 696.028, ORS 696.805, ORS 696.810, ORS 696.815 & ORS 696.820
Hist.: REA 1-2002, f. 5-31-02, cert. ef. 7-1-02