2562

LAWS OF MARYLAND

Ch. 268

relating to the payment of commissions to certain
corporations; and clarifying language.

BY adding to

Article 56 - Licenses

Section 218(d)

Annotated Code of Maryland

(1979 Replacement Volume and 1981 Supplement)

BY repealing and reenacting, with amendments,

Article 56 - Licenses

Section 227(a)

Annotated Code of Maryland

(1979 Replacement Volume and 1981 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
read(s) as follows:

Article 56 - Licenses

218.

(D) (1) WITH THE CONSENT OF A BROKER, AN INDIVIDUAL
SALESPERSON, OR 2 OR MORE SALESPERSONS, LICENSED TO ACT ON
BEHALF OF THE BROKER MAY FORM A PROFESSIONAL SERVICE
CORPORATION WHOLLY OWNED BY THE SALESPERSON OR SALESPERSONS.

(2) A SALESPERSON WHO HAS OR SALESPERSONS WHO
HAVE INCORPORATED MAY DIRECT WITH THE CONSENT OF THE BROKER
THAT COMMISSIONS BE PAID TO THE CORPORATION. THE FORMATION
OF A CORPORATION DOES NOT RELIEVE ANY BROKER OR SALESPERSON
OF ANY DUTIES UNDER THIS SUBTITLE, INCLUDING ANY DUTY OF
SUPERVISION.

227.

(a) It shall be unlawful for any real estate broker,
or real estate [salesman] SALESPERSON, to pay any
compensation, in money or other valuable thing, to any
person other than a licensed real estate broker, those
exempted under the provisions of subsection (6) of § 212(f)
and § 219(e), or real estate [salesman} SALESPERSON, OR A
CORPORATION FORMED AND WHOLLY OWNED BY A REAL ESTATE
SALESPERSON OR SALESPERSONS, for the rendering of any
service, or the doing of any of the acts by this subtitle
forbidden to be rendered or performed by other than
licensees.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1982.