Section 45:15-16 - Acceptance of commission, valuable considerationa. No real estate salesperson or broker-salesperson shall accept a commission or valuable consideration for the performance of any of the acts herein specified, from any person except his employer or contracting broker, who must be a licensed real estate broker.b. A real estate salesperson or broker-salesperson may form a limited liability company pursuant to the "Revised Uniform Limited Liability Company Act," P.L. 2012, c. 50(C.42:2C-1 et seq.), or any other entity permitted by law, in order to receive a commission or other valuable consideration pursuant to subsection a. of this section, and the real estate salesperson or broker-salesperson may accept payment of the commission or other valuable consideration or any part thereof from the limited liability corporation or other entity. Notwithstanding the formation of such an entity, a salesperson or broker-salesperson who satisfies the requirements of subparagraph (K) of paragraph (7) of subsection (i) of R.S. 43:21-19 shall not be considered an employee pursuant to that law.c. The New Jersey Real Estate Commission shall create a registration process for a limited liability company and other entity to receive a commission or other valuable consideration pursuant to subsection a. of this section.Amended by L. 2021, c. 281, s. 1, eff. 11/8/2021.Amended by L. 2018, c. 71, s. 12, eff. 1/1/2018.Amended by L. 2009, c. 238,s. 10, eff. 7/1/2011.Amended 1993, c.51, s.18.