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Senate committee rejects bill requiring wholesalers to disclose they do not yet hold title
Summary
A proposed Arkansas consumer‑protection law would have required real‑estate wholesalers to disclose in writing that they are wholesalers and may not be able to convey title; the committee rejected the proposal after extended debate over market effects and when disclosure should be required.
Senator Clint Penzo presented a bill clarifying exemptions to real‑estate licensure and creating an Arkansas Real Estate Wholesale Consumer Protection Act requiring wholesalers to disclose in writing to sellers or buyers that they are wholesalers and may not be able to convey title. The sponsor…
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