Sec. 4.5. (a) A broker company may pay compensation directly to a business entity that is owned by a broker and associated with the broker company and that has been formed for the purpose of receiving compensation earned by the broker.
(b) A business entity that receives compensation from a broker company as provided for in this section:
(1) is not required to be licensed as a broker company; and
(2) must be owned:
(A) solely by the broker; or
(B) by the broker and the broker's spouse, if the spouse is not licensed.
As added by P.L.32-2020, SEC.2.
Structure Indiana Code
Title 25. Professions and Occupations
Article 34.1. Real Estate Brokers and Salespersons
25-34.1-3-1. Registration or License Requirements; Fees or Charges
25-34.1-3-2. Transactions Without License; Prohibition; Exemption
25-34.1-3-4.1. Requirements for Broker's License
25-34.1-3-4.5. Broker Compensation
25-34.1-3-5. Licensing of Nonresident; Consent to Service of Process; Waiver
25-34.1-3-6. Change of Name, Business Address, or Association of Licensee or Managing Broker
25-34.1-3-9.5. Fees; Real Estate Appraiser Licensure and Certification Program
25-34.1-3-10. Inactive License Requirements; Continuing Education; Reactivation Requirements
25-34.1-3-10.5. "Referral Status"
25-34.1-3-11. Acts Permitted by Unlicensed Out-of-State Commercial Broker; Written Consent