Section 12-406 - Restrictions on payment of commissions, finder's fees, and points. - Maryland Statutes

§ 12-406. Restrictions on payment of commissions, finder's fees, and points.
 

(a)  Limitations on payment of commission, finder's fee, or point.- Except as permitted by § 12-405(a) of this subtitle, any commission, finder's fee, or point shall be paid by the lender, and may be paid only to: 

(1) A licensed real estate broker; 

(2) A lawyer licensed to practice law in the State; or 

(3) A licensee. 

(b)  Agreement for commission, finder's fee, or point unenforceable if not in writing.- An agreement to pay a commission, finder's fee, or point may not be enforced unless it is in writing and signed by the lender. 
 

[An. Code 1957, art. 66, § 62; 1975, ch. 49, § 3; 2005, ch. 25, § 13.]