Maryland § 17-512
Full text of Maryland Maryland Code § 17-512, with citation guidance and answers to common questions.
§ 17-512.
(a) With the consent of a licensed real estate broker, one or more licensed real estate salespersons and licensed associate real estate brokers who are affiliated with the licensed real estate broker may:
(1) organize and wholly own a professional service corporation under the Maryland Professional Service Corporation Act;
(2) form a limited liability company under the Maryland Limited Liability Company Act; or
(3) form any other business entity authorized under Maryland law.
(b) A professional service corporation may be organized and owned or a limited liability company or other business entity may be formed under this section by any number and any combination of licensed real estate salespersons and licensed associate real estate brokers. However, each shareholder in the corporation, member of the limited liability company, or owner of any other business entity shall be either a licensed real estate salesperson or a licensed associate real estate broker.
(c) A licensed real estate salesperson or a licensed associate real estate broker who is a shareholder of a professional service corporation, a member of a limited liability company, or the owner of any other business entity may direct that any commission due the salesperson or associate broker be paid to the corporation, limited liability company, or other business entity.
Frequently Asked Questions About Maryland § 17-512
What does Maryland Code § 17-512 cover?
Section 17-512 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 17-512?
A common citation format is "Maryland Code § 17-512" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 17-512 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.