58-30,104. Termination of relationships. (a) (1) The agency relationships set forth in K.S.A. 58-30,103, and amendments thereto, shall commence at the time that the client engages the broker, and shall continue until:
(A) A transaction is closed according to the agreement of the parties; or
(B) if a transaction is not closed according to the agreement of the parties, the earlier of:
(i) Any date of expiration agreed upon by the parties in the agency agreement or in any amendments thereto; or
(ii) any authorized termination of the relationship.
(2) Except as otherwise agreed in writing, a broker owes no further duties to the client after termination, expiration, or the closing of a transaction according to the agreement of the parties, except:
(A) To account for all moneys and property relating to the engagement; and
(B) to keep confidential all confidential information received during the course of the engagement unless:
(i) The client permits the disclosure by subsequent word or conduct;
(ii) such disclosure is required by law; or
(iii) the information becomes public from a source other than the broker.
(b) (1) The relationship between a transaction broker and a seller, landlord, buyer or tenant shall terminate when:
(A) A transaction is closed according to the agreement of the parties; or
(B) if a transaction is not closed according to the agreement of the parties, the earlier of:
(i) Any date of expiration agreed upon by the parties; or
(ii) any authorized termination of the relationship.
(2) Except as otherwise agreed in writing, a transaction broker owes no further duties to any party to the transaction after termination, expiration or the closing of a transaction according to the agreement of the parties, except:
(A) To account for all moneys and property relating to the engagement; and
(B) to keep confidential all information received during the course of the engagement which was made confidential by request of any party to the transaction, unless:
(i) The party permits the disclosure by subsequent word or conduct;
(ii) such disclosure is required by law; or
(iii) the information becomes public from a source other than the transaction broker.
History: L. 1995, ch. 252, § 4; Revived, L. 1997, ch. 65, § 28; L. 1997, ch. 65, § 29; Oct. 1.
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