(a) A licensee may perform activities as a licensee only for his or her sponsoring
broker. A licensee must have only one sponsoring broker at any one time.
(b) Every broker who employs licensees or has an independent contractor relationship
with a licensee shall have a written employment or independent contractor agreement
with each such licensee. The broker having this written employment or independent contractor agreement with
the licensee must be that licensee's sponsoring broker.
(c) Every sponsoring broker must have a written employment or independent contractor
agreement with each licensee the broker sponsors. The agreement shall address the employment or independent contractor relationship
terms, including without limitation supervision, duties, compensation, and termination
(e) Notwithstanding the fact that a sponsoring broker has an employment or independent
contractor agreement with a licensee, a sponsoring broker may pay compensation directly
to a business entity solely owned by that licensee that has been formed for the purpose
of receiving compensation earned by the licensee. A business entity that receives compensation from a sponsoring broker as provided
for in this subsection (e) shall not be required to be licensed under this Act and
must either be owned solely by the licensee or by the licensee together with the licensee's
spouse, but only if the spouse and licensee are both licensed and sponsored by the
same sponsoring broker or the spouse is not also licensed.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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