NEWS
Florida proposal would ban dual agency at sales
Posted: Friday, January 25, 2008 7:05 PM
by Pete Denk
The Florida Department of Agriculture and Consumer Services is seeking to ban dual agency in the horse business and will require a written receipt for all horse sales, under the terms of a proposed law made public on Friday.
House Bill 1427, which was passed in June 2007, ordered the state agency to adopt rules to prevent “unfair and deceptive practices at horse sales.”
The movement originated with Florida owner and breeder Earle Mack, but the final proposal fell far short of what Mack and some others had pushed for, including disclosure of ownership and medical information of horses at auction.
The proposal must goes through a public comment period and could still change. Mack released a press release on Friday, calling it a good first step.
“I would like to compliment the staff of the Florida Department of Agriculture and Consumer Services on their enormous and diligent efforts on behalf of the public and horse industry of Florida,” Mack said. “There are several additional issues of great importance that will also need to be addressed. These areas were specifically recognized by the Florida Legislature when it passed legislation requiring transparency in the purchase and sale of horses in Florida, and we will work with the agency on the next steps to ensure the goal of transparency.”
The law would ban a person from representing more than one party in a transaction without prior knowledge and written consent from purchaser and seller. Any compensation, fees, or gratuities of more than $500 must be disclosed in writing.
The acknowledgment of purchase form that most auction companies use qualifies under the proposal’s bill of sale requirement. Ocala Breeders’ Sales Co. General Manager Tom Ventura said the proposal addressed his biggest concerns.
“I think it was well thought out, and I think the end result is a good rule that addresses the significant issue of dual agency while fine tuning the bill of sale as it applies to private transactions,” Ventura said. “And it isn’t cumbersome or overly restrictive. It’s very similar to the dual agency bill passed in Kentucky.”
“I think nationally the sales companies are doing a good job addressing some of the issues raised by Jess Jackson, Earle Mack, and others.”
Pete Denk is sales editor of Thoroughbred Times
