(a) A licensee relationship with a buyer, lessee, seller, or lessor begins when the licensee represents or provides specific assistance to the buyer, lessee, seller, or lessor and continues until the earliest of the following events occurs:
(1) the licensee completes the representation or specific assistance;
(2) the relationship term agreed on by the buyer, lessee, seller, or lessor terminates;
(3) the licensee and the parties to the relationship terminate the relationship by mutual agreement; or
(4) a party to the relationship terminates the relationship by giving notice to the other party.
(b) The termination of a relationship under (a)(3) or (4) of this section only terminates the licensee relationship and does not affect other contractual rights of the parties to the licensee relationship.
(c) Except as otherwise agreed to in writing, a licensee does not owe a further duty to a buyer, lessee, seller, or lessor after termination of the licensee relationship, except for the duties of accounting for all money and other property received during the relationship and not disclosing confidential information.
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