Alaska Administrative Code
Title 12 - Professional Regulations
Part 1 - Boards and Commissions Subject to Centralized Licensing
Chapter 64 - Real Estate Commission
Article 11 - General Provisions
12 AAC 64.940 - Disclosure of compensation

Universal Citation: 12 AK Admin Code 64.940

Current through August 30, 2024

(a) In a real estate sales transaction, a broker shall disclose in writing to the broker's principal the dollar amount or percentage of transaction amount of any rebate, compensation, or fee paid to another broker in connection with that transaction.

(b) The provisions of (a) of this section do not require a broker to disclose the payment of a franchise fee, an internal office operating cost, or compensation to a licensee within the broker's office.

(c) As used in this section, "real estate sales transaction" means the sale or purchase of real property, but does not include a rental, lease, or other transaction involving real property.

(d) A disclosure required of a broker to the broker's principal under (a) of this section shall be made when

(1) the listing contract is signed; and

(2) the settlement statement is signed.

(e) The disclosure requirement in (a) of this section is a continuing obligation that is not extinguished by the transfer of title in a real estate transaction.

Authority:AS 08.88.071

AS 08.88.081

AS 08.88.351

Disclaimer: These regulations may not be the most recent version. Alaska may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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