32-2155. Restriction on employment or
compensation of person as broker or salesperson
A. A broker shall employ and pay only active licensees, and a licensee shall accept
employment and compensation as a licensee only from the legally licensed broker to whom
the licensee is licensed. If the licensee is licensed through a professional corporation
or a professional limited liability company, the employing broker may pay and the
licensee may receive compensation only through the licensed professional corporation of
which the licensee is an officer and shareholder or the licensed professional limited
liability company of which the licensee is a member or manager.
B. It is unlawful for a person, firm or corporation, whether obligor, escrow holder
or otherwise, to pay or deliver to anyone compensation for performing any of the acts
specified by this chapter, as a broker, who is not licensed at the time the service is
rendered. An identification card or certificate of license issued by the state real
estate department showing that the person, firm or corporation holds a license for the
year in which the payment is made or earned shall be sufficient proof to relieve from any
penalty for a violation of this section the obligor, escrow holder or other person who
relied in good faith on the card or certificate.
C. A real estate broker or real estate salesperson shall not collect compensation
for rendering services in negotiating loans secured by real property unless all of the
following apply:
1. The broker or salesperson is licensed pursuant to title 6, chapter 9 or is an
employee, officer or partner of a corporation or partnership licensed pursuant to title
6, chapter 9.
2. The broker or salesperson has disclosed to the person from whom the compensation
is collected that the broker or salesperson is receiving compensation both for real
estate brokerage, when applicable, and for mortgage broker services.
3. The compensation does not violate any other state or federal law.
D. Notwithstanding subsection A of this section, brokers licensed under this
chapter may employ residential leasing agents or managers of residential rental
properties, as prescribed by section 32-2121, subsection A, paragraph 6. The exemption
of residential leasing agents or managers of residential rental property under article 2
of this chapter shall not be construed to exempt the designated broker from the
responsibility to exercise reasonable supervision over these leasing agents or managers.
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