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Current as of January 01, 2021 | Updated by FindLaw Staff
1. No person, firm, partnership, corporation, association, or other entity shall demand or receive a referral fee or compensation of any kind for (i) a referral from any person or other entity relative to finding a seller of real property after a bona fide real estate listing agreement has been signed, (ii) a referral from any person or other entity relative to finding a buyer for real property after a bona fide offer to purchase real property is accepted, or (iii) a referral from any person or other entity relative to finding real property after a bona fide buyer's agency agreement has been signed, unless reasonable cause for payment of such compensation exists.
2. Any violation of subdivision one of this section shall constitute a deceptive act or practice within the meaning of section three hundred forty-nine of this article.
Cite this article: FindLaw.com - New York Consolidated Laws, General Business Law - GBS § 350-f-1. After-the-fact referral fees - last updated January 01, 2021 | https://codes.findlaw.com/ny/general-business-law/gbs-sect-350-f-1/
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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