§ 59-858-360. Abrogation of common law principles of agency – Remedies cumulative.

A.  The duties and responsibilities of a broker specified in Sections 858-351 through 858-363 of The Oklahoma Real Estate License Code shall replace and abrogate the fiduciary or other duties of a broker to a party based on common law principles of agency.  The remedies at law and equity supplement the provisions of Sections 858-351 through 858-363 of The Oklahoma Real Estate License Code.

B.  A broker may cooperate with other brokers in a transaction.  Pursuant to Sections 858-351 through 858-363 of The Oklahoma Real Estate License Code, a broker shall not be an agent, subagent, or dual agent and an offer of subagency shall not be made to other brokers.

C.  Nothing in this act shall prohibit a broker from entering into an agreement for brokerage services not enumerated herein so long as the agreement is in compliance with this act, the Oklahoma Real Estate Code and the Oklahoma Real Estate Commission Administration Rules.

Added by Laws 1999, c. 194, § 10, eff. Nov. 1, 2000.  Amended by Laws 2012, c. 251, § 6,  eff. Nov. 1, 2013.