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PARRIS N. GLENDENING, Governor
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S.B. 523
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(E) "NONRESIDENT REAL ESTATE SALESPERSON" MEANS AN INDIVIDUAL
WHO IS NOT LICENSED UNDER SUBTITLE 3 OF THIS TITLE BUT IS LICENSED TO
PROVIDE REAL ESTATE BROKERAGE SERVICES AND IS AFFILIATED WITH A
NONRESIDENT REAL ESTATE BROKER
17-537.
(A) A NONRESIDENT REAL ESTATE BROKER MAY PROVIDE REAL ESTATE
BROKERAGE SERVICES ENGAGE IN A TRANSACTION UNDER THIS TITLE WITH
RESPECT TO COMMERCIAL REAL ESTATE LOCATED IN THIS STATE AND RECEIVE
COMPENSATION PROVIDED THE NONRESIDENT BROKER:
(1) PROVIDES REAL ESTATE BROKERAGE SERVICES THROUGH A REAL
ESTATE BROKER LICENSED UNDER THIS TITLE;
(2) ENTERS INTO A WRITTEN AGREEMENT WITH A LICENSED REAL
ESTATE BROKER IN THIS STATE WHICH:
(I) SPECIFIES THE TERMS OF COOPERATION AND COMPENSATION
AND INCLUDES A STATEMENT BY THE NONRESIDENT REAL ESTATE BROKER THAT
THE NONRESIDENT REAL ESTATE BROKER AND THE NONRESIDENT SALESPERSONS
LICENSED AND AFFILIATED WITH THE NONRESIDENT REAL ESTATE BROKER WILL
BOTH ADHERE TO THE LAWS OF THIS STATE AND THIS TITLE; AND
(II) ALLOCATES THE RESPONSIBILITY FOR THE ACTIONS OF THE
NONRESIDENT BROKER IN THE TRANSACTION; AND
(3) COMPLIES WITH THE REQUIREMENTS OF SUBSECTION (B) OF THIS
SECTION.
(B) BEFORE A NONRESIDENT REAL ESTATE BROKER MAY PROVIDE REAL
ESTATE BROKERAGE SERVICES IN THIS STATE, THE NONRESIDENT REAL ESTATE
BROKER SHALL MAKE WRITTEN APPLICATION TO THE COMMISSION INCLUDING:
(1) THE NAME, ADDRESS, AND TELEPHONE NUMBER OF THE
NONRESIDENT REAL ESTATE BROKER;
(2) THE NAME, ADDRESS, AND TELEPHONE NUMBER OF THE BUSINESS
ENTITY THROUGH WHICH THE NONRESIDENT REAL ESTATE BROKER PROVIDES
REAL ESTATE BROKERAGE SERVICES;
(3) THE NAME, ADDRESS, AND TELEPHONE NUMBER OF EACH
NONRESIDENT REAL ESTATE SALESPERSON WHO WILL OFFER OR PROVIDE REAL
ESTATE BROKERAGE SERVICES IN THIS STATE ON BEHALF OF THE NONRESIDENT
REAL ESTATE BROKER;
(4) A COPY OF THE AGREEMENT REQUIRED BY SUBSECTION (A) OF THIS
SECTION;
(5) WRITTEN EVIDENCE THAT THE NONRESIDENT REAL ESTATE
BROKER AND EACH NONRESIDENT REAL ESTATE SALESPERSON LISTED UNDER
PARAGRAPH (3) OF THIS SUBSECTION, ARE DULY LICENSED IN ANOTHER
JURISDICTION, AND THAT THE LICENSE IS VALID, CURRENT, AND ACTIVE;
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- 4671 -
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