2023 Kentucky Statutes 324.020 – Requirement of licensing — Application of chapter to owner or builder-developer — Prohibition against fee splitting — Exceptions — Supervision of sales associate — Authority to seek injunctive relief
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(1) It shall be unlawful for any person who is not licensed as a real estate broker or sales associate to hold himself or herself out to the public as a real estate broker or sales associate or use any terms, titles, or abbreviations which express, infer, or imply that the person is licensed as a real estate broker or sales associate.
(2) No person shall practice real estate brokerage with respect to real estate located in this state unless:
(a) The person holds a license to practice real estate brokerage under this chapter;
or
(b) The person has complied with KRS § 324.235 to KRS § 324.238.
(3) A licensee who is an owner or a builder-developer shall comply with the provisions of this chapter and the administrative regulations applying to real estate brokers and sales associates.
(4) No broker shall split fees with or compensate any person who is not licensed to perform any of the acts regulated by this chapter, except that a broker may:
(a) Pay a referral fee to a broker licensed outside of Kentucky for referring a client to the Kentucky broker;
(b) Pay a commission or other compensation to a broker licensed outside of
Kentucky in compliance with KRS § 324.235 to KRS § 324.238; or
(c) Pay a licensed auctioneer for services rendered in cases where an auctioneer and real estate broker collaborate in the conduct of a sale of real estate at auction.
(5) Except as authorized in KRS § 324.112(1) and 324.425, no sales associate shall supervise another licensed sales associate or manage a real estate brokerage office.
(6) The Kentucky Real Estate Commission may seek and obtain injunctive relief against any individual acting in violation of this chapter by filing a civil action in the Circuit Court where the commission is located or where the unlawful activity took place.
Effective: June 24, 2015
History: Amended 2015 Ky. Acts ch. 14, sec. 2, effective June 24, 2015. — Amended
2008 Ky. Acts ch. 156, sec. 5, effective July 15, 2008. — Amended 2004 Ky. Acts ch.
45, sec. 1, effective July 13, 2004. — Amended 2000 Ky. Acts ch. 488, sec. 4, effective July 14, 2000. — Amended 1998 Ky. Acts ch. 313, sec. 3, effective July 15,
1998. — Amended 1992 Ky. Acts ch. 448, sec. 3, effective July 14, 1992. — Amended
1984 Ky. Acts ch. 352, sec. 2, effective July 13, 1984. — Amended 1982 Ky. Acts ch.
196, sec. 10, effective July 15, 1982. — Amended 1976 Ky. Acts ch. 100, sec. 8. — Amended 1956 Ky. Acts ch. 18, sec. 1, effective July 1, 1956. — Amended 1942 Ky. Acts ch. 184, secs. 1 and 8. — Recodified 1942 Ky. Acts ch. 208, secs. 1 and 8, effective October 1, 1942, from Ky. Stat. sec. 3990e-1.
(2) No person shall practice real estate brokerage with respect to real estate located in this state unless:
(a) The person holds a license to practice real estate brokerage under this chapter;
or
(b) The person has complied with KRS § 324.235 to KRS § 324.238.
(3) A licensee who is an owner or a builder-developer shall comply with the provisions of this chapter and the administrative regulations applying to real estate brokers and sales associates.
(4) No broker shall split fees with or compensate any person who is not licensed to perform any of the acts regulated by this chapter, except that a broker may:
(a) Pay a referral fee to a broker licensed outside of Kentucky for referring a client to the Kentucky broker;
(b) Pay a commission or other compensation to a broker licensed outside of
Kentucky in compliance with KRS § 324.235 to KRS § 324.238; or
(c) Pay a licensed auctioneer for services rendered in cases where an auctioneer and real estate broker collaborate in the conduct of a sale of real estate at auction.
(5) Except as authorized in KRS § 324.112(1) and 324.425, no sales associate shall supervise another licensed sales associate or manage a real estate brokerage office.
(6) The Kentucky Real Estate Commission may seek and obtain injunctive relief against any individual acting in violation of this chapter by filing a civil action in the Circuit Court where the commission is located or where the unlawful activity took place.
Effective: June 24, 2015
History: Amended 2015 Ky. Acts ch. 14, sec. 2, effective June 24, 2015. — Amended
2008 Ky. Acts ch. 156, sec. 5, effective July 15, 2008. — Amended 2004 Ky. Acts ch.
45, sec. 1, effective July 13, 2004. — Amended 2000 Ky. Acts ch. 488, sec. 4, effective July 14, 2000. — Amended 1998 Ky. Acts ch. 313, sec. 3, effective July 15,
1998. — Amended 1992 Ky. Acts ch. 448, sec. 3, effective July 14, 1992. — Amended
1984 Ky. Acts ch. 352, sec. 2, effective July 13, 1984. — Amended 1982 Ky. Acts ch.
196, sec. 10, effective July 15, 1982. — Amended 1976 Ky. Acts ch. 100, sec. 8. — Amended 1956 Ky. Acts ch. 18, sec. 1, effective July 1, 1956. — Amended 1942 Ky. Acts ch. 184, secs. 1 and 8. — Recodified 1942 Ky. Acts ch. 208, secs. 1 and 8, effective October 1, 1942, from Ky. Stat. sec. 3990e-1.