Michigan Administrative Code
Department - Licensing and Regulatory Affairs
Bureau of Professional Licensing
Board of Accounting
Accountancy - General Rules
Part 4 - PROFESSIONAL CONDUCT
Section R. 338.5475 - Payment or acceptance of commissions; "commission" defined
Current through Vol. 24-16, September 15, 2024
Rule 475.
(1) As used in section 731 of the code, MCL 339.731, "commission" means any consideration paid to an individual licensee, a firm licensee, an individual with practice privileges, or an out-of-state firm by a third-party in connection with a recommendation or referral of a person to the third-party.
(2) As provided in section 731(3) of the code, MCL 339.731, a referral fee is not a commission when received or paid by an individual licensee, a firm licensee, an individual with practice privileges, or an out-of-state firm for recommending or referring a client to another individual licensee, firm licensee, individual with practice privileges, or out-of-state firm for a service involving the practice of public accounting.
(3) An individual licensee, a firm licensee, an individual with practice privileges, or an out-of-state firm who is paid or expects to be paid a commission or a referral fee shall disclose that fact to the client.
