1. (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:

   1. (A) A transaction is closed according to the agreement of the parties; or

   2. (B) if a transaction is not closed according to the agreement of the parties, the earlier of:

      1. (i) Any date of expiration agreed upon by the parties in the agency agreement or in any amendments thereto; or
      2. (ii) any authorized termination of the relationship.

      3. (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:

         1. (A) To account for all moneys and property relating to the engagement; and

         2. (B) to keep confidential all confidential information received during the course of the engagement unless:

            1. (i) The client permits the disclosure by subsequent word or conduct;
            2. (ii) such disclosure is required by law; or
            3. (iii) the information becomes public from a source other than the broker.

2. (b) (1) The relationship between a transaction broker and a seller, landlord, buyer or tenant shall terminate when:

   1. (A) A transaction is closed according to the agreement of the parties; or

   2. (B) if a transaction is not closed according to the agreement of the parties, the earlier of:

      1. (i) Any date of expiration agreed upon by the parties; or
      2. (ii) any authorized termination of the relationship.

      3. (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:

         1. (A) To account for all moneys and property relating to the engagement; and

         2. (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:

            1. (i) The party permits the disclosure by subsequent word or conduct;
            2. (ii) such disclosure is required by law; or
            3. (iii) the information becomes public from a source other than the transaction broker.

L. 1995, ch. 252, § 4; Revived, L. 1997, ch. 65, § 28; L. 1997, ch. 65, § 29; October 1.