1. (a) If any party, including a broker company, buyer, or buyer's mortgagee suffers a pecuniary loss as the result of an owner's violation of the notice or certification provisions described in section 7 of this chapter, the party may bring a civil action against the owner for the following:

   1. (1) Actual damages.
   2. (2) The costs of the action.

   3. (3) Reasonable attorney's fees.

      However, if the party establishes that the owner's violation of the notice or certification provisions was fraudulent, a court may award the party damages that do not exceed three (3) times actual damages.

2. (b) It is a defense to an action brought under this section that the most recent address provided by the broker company to the owner in the agreement, contract, or other written instrument, including a written instrument described in section 5 of this chapter, was incorrect, and as a result of the incorrect address, the principal broker did not receive the owner's notice described in section 7(b) of this chapter, and as a result the broker company failed to provide the notice as required in section 7(c) of this chapter.

As added by P.L.78-2006, SEC.1. Amended by P.L.127-2012, SEC.63; P.L.116-2015, SEC.36.