Maryland § 17-511
Full text of Maryland Maryland Code § 17-511, with citation guidance and answers to common questions.
§ 17-511.
(a) (1) In this section the following words have the meanings indicated.
(2) “Business” means a person or entity, regardless of legal structure, through which real estate brokerage services are provided.
(3) (i) “Immediate family member” means a spouse, parent, child, or sibling.
(ii) “Immediate family member” includes a stepparent, stepchild, or stepsibling.
(4) “Interest in a business” means, in the case of a business that is in a corporation, the outstanding voting stock of the corporation through which real estate brokerage services are provided.
(b) (1) Not more than 50% of the interest in a business may be held directly or indirectly by associate real estate brokers, real estate salespersons, or any combination of associate brokers or salespersons.
(2) Unless the immediate family member is affiliated with the business as an associate real estate broker or real estate salesperson, an interest of a licensee in a business through which real estate brokerage services are provided shall include any interest in the business held by an immediate family member of the licensee.
(c) Except as to the limitation of interest of the professional service corporation in a business through which real estate brokerage services are provided, this section does not affect the formation of a professional service corporation by associate real estate brokers and real estate salespersons authorized by § 17–512 of this subtitle.
Frequently Asked Questions About Maryland § 17-511
What does Maryland Code § 17-511 cover?
Section 17-511 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 § 17-511?
A common citation format is "Maryland Code § 17-511" (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 § 17-511 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.