Cal. Code Regs. tit. 10 § 260.140.113.7

Current through Register 2024 Notice Reg. No. 25, June 21, 2024

Section 260.140.113.7 - Real Estate Brokerage Commissions on Resale of Property

The total compensation paid to all persons for the sale of a program property shall be limited to a competitive real estate commission, not to exceed 6% of the contract price for the sale of the property. If the sponsor provides a substantial amount of the services in the sales effort, the sponsor may receive up to one-half of the competitive real estate commission, not to exceed 3%, and subordinated as in Section 260.140.113.5(a) above. If the sponsor participates with an independent broker on resale, the subordination requirement shall apply only to the commission earned by the sponsor.

Cal. Code Regs. Tit. 10, § 260.140.113.7

1. Amendment filed 1-22-75; effective thirtieth day thereafter (Register 75, No. 4).
2. Amendment filed 1-27-84; effective thirtieth day thereafter (Register 84, No. 4).
3. Renumbering and amendment of former section 260.140.113.6 to section 260.140.113.7 filed 5-18-92; operative 6-17-92 (Register 92, No. 22).

Note: Authority cited: Section 25610, Corporations Code. Reference: Section 25140, Corporations Code.