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NJ S1419
Bill
Status
1/13/2026
Primary Sponsor
Joseph Lagana
Click for details
AI Summary
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Real estate salespersons and broker-salespersons in New Jersey may form limited liability companies (LLCs) or other legal entities to receive commissions from their employing or contracting broker.
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Receiving commission payments through an LLC does not affect the business affiliation between the broker and the salesperson/broker-salesperson as defined in their written agreement.
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The New Jersey Real Estate Commission is required to create a registration process for LLCs and other entities that receive real estate commissions.
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Amends R.S.45:15-16 and takes effect immediately upon enactment.
Legislative Description
Clarifies current law addressing commissions paid to limited liability companies formed by real estate salespersons or broker-salespersons.
Withdrawn Because Approved
Last Action
Withdrawn Because Approved P.L.2025, c.271.
1/13/2026