2006 New York Code - After-the-fact Referral Fees.



 
    §  442-l.  After-the-fact  referral  fees. 1. No real estate broker or
  salesperson, in any place in which this  article  is  applicable,  shall
  demand  or  receive a referral fee or compensation of any kind for (i) a
  referral from any person or other entity relative to  finding  a  seller
  after  a  bona  fide  listing agreement has been signed, (ii) a referral
  from any person or other entity relative to finding a buyer after a bona
  fide offer to purchase is accepted, or (iii) a referral from any  person
  or other entity relative to finding a property after a bona fide buyer's
  agency agreement has been signed, unless reasonable cause for payment of
  such compensation exists.
    2.  A  violation  of this section shall be a violation of this article
  and shall constitute a deceptive act or practice within the  meaning  of
  section three hundred forty-nine of the general business law.

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