Utah § 2f-305 - Restrictions on commissions.

Full text of Utah Utah Code § 2f-305 — Restrictions on commissions., with citation guidance and answers to common questions.

§ 2f-305. Restrictions on commissions.

Effective 5/3/2023
61-2f-305.  Restrictions on commissions.
(1) Except as provided in Subsection (2), an associate broker or sales agent may not accept valuable consideration for the performance of an act specified in this chapter from a person except the principal broker with whom the associate broker or sales agent is affiliated.
(2) An associate broker or sales agent may receive valuable consideration for the performance of an act specified in this chapter from a person other than the principal broker with whom the associate broker or sales agent is affiliated if:
(a) the valuable consideration is paid with a payment instrument prepared by a title insurance agent; and
(b) the title insurance agent complies with the written instructions of the principal broker:
(i) in preparing the payment instrument; and
(ii) delivering the payment instrument to the associate broker or sales agent.
(3) The commission, with the concurrence of the division, may make rules in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act:
(a) defining what constitutes a "payment instrument" for purposes of this section; or
(b) the form and contents of the written instructions required by Subsection (2), including providing that the contents of the written instructions indicate that the payment instrument process is an assignment to the associate broker or sales agent by the principal broker of a portion of the consideration the title insurance agent is obligated to pay the principal broker.


Amended by Chapter 141, 2023 General Session

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Frequently Asked Questions About Utah § 2f-305

What does Utah Code § 2f-305 cover?

Section 2f-305 ("Restrictions on commissions.") is part of the Utah Code, the codified statutory law of Utah. 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 Utah § 2f-305?

A common citation format is "Utah Code § 2f-305" (Utah). 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 Utah law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Utah official source linked on this page or consult a licensed Utah attorney.

How does Utah § 2f-305 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Utah 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 Utah.