45:15-3.1 - Payment of referral fee, commission to person licensed in another jurisdiction - New Jersey Statutes

45:15-3.1.   Payment of referral fee, commission to person licensed in another jurisdiction 
    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.