New Jersey § 45:15-16
Full text of New Jersey New Jersey Statutes § 45:15-16, with citation guidance and answers to common questions.
§ 45:15-16.
of regulations by the New Jersey Real Estate Commission to effectuate the purposes of L.2021, c. 281 . See, also, text of section 45:15-16 effective prior to the promulgation of regulations to effectuate L.2021, c. 281 .> a. No real estate salesperson or broker-salesperson shall accept a commission or valuable consideration for the performance of any of the acts herein specified, from any person except his employer or contracting broker, who must be a licensed real estate broker. b. A real estate salesperson or broker-salesperson may form a limited liability company pursuant to the “Revised Uniform Limited Liability Company Act,” P.L.2012, c. 50 ( C.42:2C-1 et seq. ), or any other entity permitted by law, in order to receive a commission or other valuable consideration pursuant to subsection a. of this section, and the real estate salesperson or broker-salesperson may accept payment of the commission or other valuable consideration or any part thereof from the limited liability corporation or other entity. Notwithstanding the formation of such an entity, a salesperson or broker-salesperson who satisfies the requirements of subparagraph (K) of paragraph (7) of subsection (i) of R.S.43:21-19 shall not be considered an employee pursuant to that law. c. The New Jersey Real Estate Commission shall create a registration process for a limited liability company and other entity to receive a commission or other valuable consideration pursuant to subsection a. of this section.
Frequently Asked Questions About New Jersey § 45:15-16
What does New Jersey Statutes § 45:15-16 cover?
Section 45:15-16 is part of the New Jersey Statutes, the codified statutory law of New Jersey. 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 New Jersey § 45:15-16?
A common citation format is "New Jersey Statutes § 45:15-16" (New Jersey). 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 New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 45:15-16 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey 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 New Jersey.