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:
(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.