§ 5-20.5-2 - Persons exempt. - Rhode Island Statutes

SECTION 5-20.5-2

   § 5-20.5-2  Persons exempt. – (a) Neither the term "real estate broker" nor "real estate salesperson" is heldto include:

   (1) Any person, partnership, association, or corporation,who, as a bona fide owner, lessee, or lessor, performs any of the previouslystated acts as to property owned, or leased by them, or to their regularemployees, where those acts are performed in the regular course of, or as anincident to the management of the property and the investment in the property;or

   (2) Any person, partnership, association, or corporation, orany of their employees, who seeks to acquire, lease, rent, sell, or deal inreal estate which has been or will be used or held for investment by thatperson, partnership, association, or corporation.

   (b) This chapter is also not to be construed to include:

   (1) Any attorney at law licensed by the supreme court of thestate, nor any person holding in good faith, an executed power of attorney fromthe owner, authorizing the final consummation and execution for the sale,purchase, leasing, or exchange of real estate;

   (2) The acts of any person while acting as a receiver,trustee, administrator, executor, guardian, or under court order, or whileacting under authority of a deed of trust or will;

   (3) The acts of any person, partnership, association, orcorporation who appraises real or personal property for the purpose ofconducting a mass appraisal, municipal revaluation for tax purposes or otherforms of ad valorem appraisal; or

   (4) Public officers while performing their duties as publicofficers.