SB520 - Fair Compensation Act

• Establishes legislation known as the "Fair Compensation Act"
• Amends Arkansas Code § 17-42-104(a)(10) regarding exemptions under the Real Estate License Law
• Exempts salaried or hourly employees of corporations, LLCs, partnerships, or other business entities from real estate licensing requirements when acting on property owned or leased by the entity or affiliated entities under common ownership
• Requires exempt employees to not receive compensation solely from successful transaction commissions
• Requires exempt employees to serve only one entity or group of commonly-owned affiliated entities, prohibiting service to multiple unaffiliated entities