Section 12.64.940. Disclosure of compensation.

	(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.  

Authorities

08.88.071;08.88.081;08.88.351

Notes

Reference

12 AAC 64.130

Authority

AS 08.88.071 AS 08.88.081 AS 08.88.351

History

Eff. 5/28/98, Register 146; am 2/12/99, Register 149; am 4/24/2009, Register 190