NY A07979

Permits real estate brokers to pay commissions or fees to unlicensed corporations or limited liability companies if all shareholders or members are individually associated with the broker as duly licensed associates or salesmen.

Allows brokers registered under Article 23-A of the General Business Law to pay commissions for cooperative or homeowners association sales to persons whose principal business is not selling such properties, provided they are licensed salesmen, brokers, or engaged in real estate brokerage outside New York.

Clarifies that brokers may offer portions of commissions directly to sellers, buyers, landlords, or tenants in real estate transactions, provided such payments are not compensation for activities requiring a real estate license.

Maintains prohibition on brokers paying commissions to unlicensed persons for services rendered in brokerage transactions, with limited exceptions for licensed associates and out-of-state brokers.

Takes effect immediately upon enactment.