SB 435
Creates provisions related to certain payments made to businesses owned by licensed real estate salespersons and broker-salespersons
Sponsor:
LR Number:
1963S.01I
Last Action:
3/2/2021 - Hearing Conducted S Small Business and Industry Committee
Journal Page:
Title:
Calendar Position:
Effective Date:
August 28, 2021

Current Bill Summary

SB 435 - Under this act, a real estate broker may pay compensation directly to a business entity, as defined in the act, owned by a licensed real estate salesperson or broker-salesperson formed for the purpose of receiving compensation earned by such licensee.

The business entity shall not be required to be licensed and may be co-owned by an unlicensed spouse, a licensed spouse associated with the same broker as the licensee, or one or more other licensees associated with the same broker as the licensee.

MATT KIMMINAU

Amendments

No Amendments Found.