[§480E-3]  Distressed property
consultant contract.  (a)  A distressed property consultant contract shall
be in writing and shall fully disclose all services to be performed by the
distressed property consultant and all terms of any agreements between the
distressed property consultant and all owners of the distressed property,
including the total amount and terms of compensation to be directly or
indirectly received by the distressed property consultant.



(b)  A distressed property consultant contract
shall contain on its first page in a type size no smaller than fourteen-point
boldface type:



(1)  A description of the distressed property;



(2)  The name, street address, and telephone number of
the distressed property consultant; and



(3)  The name and address of the distressed property
consultant to which notice of cancellation is to be delivered. 



(c)  A distressed property consultant contract
shall be dated and signed by the distressed property consultant.  If the
distressed property consultant is a person other than an individual, the
individual executing the distressed property consultant contract on behalf of
the distressed property consultant shall identify the title and office held by
the individual. 



(d)  A distressed property consultant contract
shall be dated and signed by all owners of the distressed property.



(e)  The distressed property consultant shall
provide each distressed property owner with a copy of the distressed property
consultant contract and attached notice of cancellation immediately upon
execution by all parties to the distressed property consultant contract.  A
distressed property consultant contract shall not be effective until all
parties to the distressed property consultant contract have signed the
contract. [L 2008, c 137, pt of §2]