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MI HB5823
Bill
Status
5/28/2020
Primary Sponsor
Steven Johnson
Click for details
AI Summary
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Increases the maximum value of consideration (referral compensation) that owners or authorized agents can offer existing tenants from 1/2 month's rent to 1 full month's rent for referring prospective tenants.
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Increases the maximum consideration that existing tenants can accept for referring prospective tenants from 1/2 month's rent to 1 full month's rent.
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These actions remain exempt from constituting participation in real estate transactions or payment of real estate commissions.
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Amends section 2512b of the Occupational Code (MCL 339.2512b), originally added by 1981 PA 83.
Legislative Description
Occupations; real estate; compensation for referrals; modify. Amends sec. 2512b of 1980 PA 299 (MCL 339.2512b).
Occupations: real estate
Last Action
Bill Electronically Reproduced 06/02/2020
6/2/2020