Sec. 4.5. (a) A broker company may pay compensation directly to a business entity that is owned by a broker and associated with the broker company and that has been formed for the purpose of receiving compensation earned by the broker.

     (b) A business entity that receives compensation from a broker company as provided for in this section:

Terms Used In Indiana Code 25-34.1-3-4.5

  • Broker: means a person who:

    Indiana Code 25-34.1-1-2

  • Broker company: means a licensee that is a business engaged in the activities described in Indiana Code 25-34.1-1-2
(1) is not required to be licensed as a broker company; and

(2) must be owned:

(A) solely by the broker; or

(B) by the broker and the broker’s spouse, if the spouse is not licensed.

As added by P.L.32-2020, SEC.2.

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