1965/66/67 session laws – Ch.281 Sec.4

G. S. 93A-6 is hereby amcnded as follows: (a) By adding the following subdivisions at the end of subsection (a) of said Section: (12). Commingling the money or other property of his principals with his own or failure to maintain and deposit in a trust or escrow account in an insured bank all money received by a real estate broker acting in said capacity, or as escrow agent, or the temporary custodian of the funds of others, in a real estate transaction; (13) Failure to deliver, within a reasonable time, a completed copy of any purchase agreement or offer to buy and sell real estate to the buyer and to the seller; (14) Failure by a broker to deliver to the seller in every real estate transaction wherein he acts as a real estate broker, at the time such 330 transaction is consummated, a complete detailed closing statement showing all of the receipts and disbursements handled by such broker for the seller; also failure to deliver to the buyer a complete statement showing all money received in the transaction from such buyer and how and for what the same were disbursed. (b) By deleting subsection (b) of said Section and substituting therefor a new subsection to read as follows: (b) In all proceedings under this Section for the revocation or suspension of licenses, the provisions of Chapter 150 of the General Statutes shall be applicable.