The following were
the Alaska Association of REALTORS®
2008 Legislative Priorities.
HB 357 -
Mandatory Errors & Omissions Insurance
Sponsor: House Labor and Commerce Committee
HB
357: "An Act requiring errors and omissions insurance
for real estate licensees; renaming the real estate
surety fund as the real estate recovery fund and
relating to that fund, and redefining the procedures and
criteria used by the Real Estate Commission to make an
award from the fund to a person suffering a loss caused
by certain misconduct of real estate licensees;
requiring a real estate licensee to maintain an office
in the state; and providing for an effective date."
This legislative session, the Alaska Association of
REALTORS® was successful in passing HB357. This
bill will modernize the Surety Fund and will require
errors and omissions
insurance
for licensees. Attached is an article by AAR
Industry Issues Chairman Dave Feeken which explains
what the bill will accomplish. HB 357 is currently
waiting to be transmitted to the Governor.
Read what HB 357 Accomplishes -
Link to Article
If you have any question about HB 357, you can
contact Dave Feeken at dfeeken@alaska.net.
HB 349
Frivolous Lawsuits - Sponsor Mike Chenault - This
bill would allow a judge to stop a lawsuit due to the
frivolous nature of the suit and order the lawyer
bringing the frivolous lawsuit to pay the other
attorney's fees.
Clearly, the United States is experiencing a lawsuit
epidemic. Filing a lawsuit has become a common
occurrence and filing a frivolous lawsuit has become the
punch line to a sitcom plot. Unfortunately, the
junk lawsuits we laugh about are coming a great cost;
the lawsuit lottery is not free. It is estimated that
Minnesotans spend $1,200 per person every year in what
has been call a hidden liability cost.
Link to Bill.
We did not get the bill passed this legislative session.
HB 175 Eminent Domain - Sponsor Craig Johnson - This
bill would give privately owned recreational structures
the same protection from government seizure already
granted to personal residences in AS 09.55.240 and will
strengthen the right of private ownership.
Link to bill.
We did not get the bill passed this session.
