California Code of Regulations
Title 10 - Investment
Chapter 3 - Commissioner of Financial Protection and Innovation
Subchapter 2 - Corporate Securities
Article 4 - Standards for the Exercise of the Commissioner's Authority
Subarticle 10 - Real Estate Programs
Fees-Compensation-Expenses
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.
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.
