SENATE AMENDMENT

    Bill No. CS for SB 340

    Amendment No.    

                            CHAMBER ACTION
              Senate                               House
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11  Senator Clary moved the following amendment:

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13         Senate Amendment (with title amendment) 

14         On page 52, between lines 25 and 26,

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16  insert:

17         Section 41.  Section 475.5015, Florida Statutes, is

18  amended to read:

19         475.5015  Brokerage business records.--Each broker

20  shall keep and make available to the department such books,

21  accounts, and records as will enable the department to

22  determine whether such broker is in compliance with the

23  provisions of this chapter.  Each broker shall preserve at

24  least one legible copy of all books, accounts, and records

25  pertaining to her or his real estate brokerage business for at

26  least 5 years from the date of receipt of any money, fund,

27  deposit, check, or draft entrusted to the broker or, in the

28  event no funds are entrusted to the broker, for at least 5

29  years from the date of execution by any party of any listing

30  agreement, offer to purchase, rental property management

31  agreement, rental or lease agreement, or any other written or

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    2:54 PM   04/16/98                              s0340c1c-07e08




                                                  SENATE AMENDMENT

    Bill No. CS for SB 340

    Amendment No.    





 1  verbal agreement which engages the services of the broker.  If

 2  any brokerage record has been the subject of or has served as

 3  evidence for litigation, relevant books, accounts, and records

 4  must be retained for at least 2 years after the conclusion of

 5  the civil action or the conclusion of any appellate

 6  proceeding, whichever is later, but in no case less than a

 7  total of 5 years as set above. Disclosure documents required

 8  under ss. 475.2755, 475.276, and 475.278 shall be retained by

 9  the real estate licensee in all transactions that result in a

10  written contract to purchase and sell real property.

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12  (Redesignate subsequent sections.)

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15  ================ T I T L E   A M E N D M E N T ===============

16  And the title is amended as follows:

17         On page 3, line 30, after the semicolon

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19  insert:

20         amending s. 475.5015, F.S.; amending a

21         cross-reference;

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    2:54 PM   04/16/98                              s0340c1c-07e08