Section 17-537 - Engaging in a commercial real estate transaction by nonresident real estate broker. - Maryland Statutes

§ 17-537. Engaging in a commercial real estate transaction by nonresident real estate broker.
 

(a)  In general.- A nonresident real estate broker may engage in a transaction under this title with respect to commercial real estate located in this State and receive compensation provided the nonresident real estate 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 real estate 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 real estate broker in the transaction; and 

(3) complies with the requirements of subsection (b) of this section. 

(b)  Application.- 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; 

(6) written consent signed by the nonresident real estate broker, individually and on behalf of the business entity, and by each nonresident real estate salesperson listed under paragraph (3) of this subsection, that service of process on the Executive Director of the Commission shall bind the applicant in any action, suit, or proceeding brought against the broker or salesperson; 

(7) written consent signed by the nonresident real estate broker and by each nonresident salesperson listed under paragraph (3) of this subsection, to submit to the jurisdiction of the Commission for the purposes of disciplinary action under § 17-322 of this title; 

(8) any other information that is requested by the Commission; and 

(9) a temporary license fee of $45. 

(c)  Temporary license.- The Commission shall issue a temporary license to a nonresident real estate broker who complies with the requirements of this section if the jurisdiction in which the real estate broker holds a current license: 

(1) allows a Maryland broker to obtain a temporary license under similar circumstances; or 

(2) waives the examination and qualification requirements for licensure for individuals licensed in Maryland. 
 

[2003, ch. 368.]