KRS 324.121: Designation of licensee as exclusive agent -- Effect of designation --

Availability of dual agency.

(1) A principal broker may designate one (1) or more affiliated licensees to act as agent

for a seller or lessor, to the exclusion of all other license es affiliated with the

principal broker. A principal broker may designate one (1) or more affiliated

licensees to act as agent for a buyer or lessee, or prospective buyer or lessee to the

exclusion of all other licensees affiliated with the principal broke r. The designation

procedure shall be made in writing and communicated to all licensees affiliated with

the principal broker. The designated agent shall inform and obtain the consent of the

buyer or lessee, or prospective buyer or lessee to the designation . The designated

agent shall inform and obtain the consent of the seller or lessor to the designation.

The principal broker shall not designate himself or herself as a designated agent.

(2) If a principal broker designates one (1) or more licensees to repr esent the seller and

one (1) or more other licensees to represent the buyer or the prospective buyer in the

same transaction, only the principal broker or a designated manager working under

the principal broker's direction shall be deemed to be a dual agen t representing the

seller and buyer in a limited fiduciary capacity. As a dual agent, the principal broker

or designated manager shall keep confidential information relating to either party in

an individual file that shall be maintained and accessed by the principal broker or

designated manager only. As a dual agent, the principal broker or designated

manager shall not disclose to either party confidential information learned relative

to the other party. Except as set forth in subsection (3) of this section , this

designation shall not affect the principal broker's or designated manager's agency

relationships in cooperative sales between consumers separately represented by

nonaffiliated principal brokers or designated managers.

(3) No exchange of information or knowledge between or among consumers, whether

the seller, buyer, lessor, or lessee, and the principal broker, the designated manager,

the firm, or the licensees shall be imputed as a matter of law in any real estate

transaction.

(4) Nothing in this sect ion shall prevent a real estate brokerage firm or licensee from

entering into a dual agency relationship with consumers in a real estate transaction.