Source: https://www.oregonlaws.org/ors/2007/696.290
Timestamp: 2019-12-10 00:41:23
Document Index: 305868714

Matched Legal Cases: ['§2', '§2', '§16', '§21', '§40', '§13', '§9', '§1', '§1', '§27', '§5']

ORS 696.290 - Sharing compensation with or paying finder's fee to unlicensed person prohibited - 2007 Oregon Revised Statutes
2007 ORS Vol. 15 Chapter 696 Section 696.290
2007 ORS 696.290¹
(1) A real estate licensee shall not offer, promise, allow, give, pay or rebate, directly or indirectly, any part or share of the licensee’s compensation arising or accruing from any real estate transaction or pay a finder’s fee to any person who is not a real estate licensee licensed under ORS 696.022 (Licensing system for real estate brokers and property managers). However, a real estate broker or principal real estate broker may pay a finder’s fee or a share of the licensee’s compensation on a cooperative sale when the payment is made to a licensed real estate broker in another state or country, provided that the state or country in which that broker is licensed has a law permitting real estate brokers to cooperate with real estate brokers or principal real estate brokers in this state and that such nonresident real estate broker does not conduct in this state any acts constituting professional real estate activity and for which compensation is paid. If a country does not license real estate brokers, the payee must be a citizen or resident of the country and represent that the payee is in the business of real estate brokerage in the other country. A real estate broker associated with a principal real estate broker shall not accept compensation from any person other than the principal real estate broker with whom the real estate broker is associated at the time. A principal real estate broker shall not make payment to the real estate broker of another principal real estate broker except through the principal real estate broker with whom the real estate broker is associated. Nothing in this section prevents payment of compensation earned by a real estate broker or principal real estate broker while licensed, because of change of affiliation or inactivation of the broker’s license.
(2) Nothing in subsection (1) of this section is intended to prohibit a real estate licensee who has a written property management agreement with the owner of a residential building or facility from authorizing the payment of a referral fee, rent credit or other compensation to an existing tenant of the owner or licensee, or a former tenant if the former tenant resided in the building or facility within the previous six months, as compensation for referring new tenants to the licensee.
(3) Nothing in subsection (1) of this section is intended to prevent an Oregon real estate broker or principal real estate broker from sharing compensation on a cooperative nonresidential real estate transaction with a person who holds an active real estate license in another state or country, provided:
(4) Nothing in subsection (1) of this section is intended to prohibit a real estate licensee from directly compensating a licensed personal assistant if permitted by the terms, conditions and requirements of a licensed personal assistant agreement under ORS 696.028 (Licensed personal assistant).
(5) As used in subsection (3) of this section, "nonresidential real estate" means any real property that is improved or available for improvement by commercial structures or five or more residential dwelling units. [Amended by 1953 c.42 §2; 1961 c.670 §2; 1969 c.674 §16; 1975 c.746 §21; 1977 c.649 §40; 1981 c.617 §13; 1989 c.724 §9; 1997 c.307 §1; 1999 c.470 §1; 2001 c.300 §27; 2007 c.337 §5]