A transaction broker shall have the following duties and responsibilities:

1. 1. To perform the terms of the written brokerage agreement, if applicable;
2. 2. To treat all parties with honesty;
3. 3. To comply with all requirements of the Oklahoma Real Estate License Code and all applicable statutes and rules; and

4. 4. To exercise reasonable skill and care including:

   1. a. timely presentation of all written offers and counteroffers,
   2. b. keeping the party for whom the transaction broker is providing services fully informed regarding the transaction,
   3. c. timely accounting for all money and property received by the broker,
   4. d. keeping confidential information received from a party confidential as required by Section 7 of this act, and
   5. e. disclosing information pertaining to the property as required by the Residential Property Condition Disclosure Act.

Laws 1999, HB 1178, c. 194, § 3, eff. November 1, 2000.