45:15-3.1. Payment of referral fee, commission to person licensed in another jurisdiction
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/nj/title-45/chapter-15/45-15-3-1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
1. A duly licensed real estate broker of this State may pay a referral fee or referral commission to a person not licensed if the person is a licensed real estate broker of another jurisdiction in which the licensed broker maintains a bona fide office. A licensed real estate broker of another jurisdiction may make a referral, receive a referral fee or referral commission, and bring or maintain an action in the courts of this State against a duly licensed real estate broker of this State for the collection of the fee or commission.
For the purposes of this section, "referral" means the introduction, assisting, or directing of a person by one broker to another broker for real estate brokerage services, aid, or information; "referral fee" or "referral commission" means the compensation paid or received for the referral.
L.1979,c.322,s.1; amended 1993,c.51,s.4.