73rd OREGON LEGISLATIVE ASSEMBLY--2005 Regular Session
 
NOTE:  Matter within  { +  braces and plus signs + } in an
amended section is new. Matter within  { -  braces and minus
signs - } is existing law to be omitted. New sections are within
 { +  braces and plus signs + } .
 
LC 3160
 
                         House Bill 3236
 
Sponsored by Representative BOQUIST; Representatives ANDERSON,
  BRUUN, FLORES, JENSON, KROPF, LIM, NELSON, SUMNER, THATCHER,
  Senators GEORGE, C STARR
 
 
                             SUMMARY
 
The following summary is not prepared by the sponsors of the
measure and is not a part of the body thereof subject to
consideration by the Legislative Assembly. It is an editor's
brief statement of the essential features of the measure as
introduced.
 
  Allows real estate licensee to pay finder's fee to nonprofit
organization.
 
                        A BILL FOR AN ACT
Relating to finder's fees; amending ORS 696.290.
Be It Enacted by the People of the State of Oregon:
  SECTION 1. ORS 696.290 is amended to read:
  696.290. (1) A real estate licensee shall not offer, promise,
allow, give, pay or rebate, directly or indirectly, any part or
share of the licensee's commission or compensation arising or
accruing from any real estate transaction or pay a finder's fee
to any person who is not a real estate licensee licensed under
ORS 696.022. However, a real estate broker or principal real
estate broker may pay a finder's fee or a share of the commission
on a cooperative sale where such payment is made to a licensed
real estate broker in another state or country provided that the
state or country in which that broker is licensed has a law
permitting real estate brokers to cooperate with real estate
brokers or principal real estate brokers in this state and that
such nonresident real estate broker does not conduct in this
state any acts constituting professional real estate activity and
for which compensation is paid. If a country does not license
real estate brokers, the payee must be a citizen or resident of
the country and represent that the payee is in the business of
real estate brokerage in the other country. A real estate broker
associated with a principal real estate broker shall not accept
compensation from any person other than the principal real estate
broker with whom the real estate broker is associated at the
time. A principal real estate broker shall not make payment to
the real estate broker of another principal real estate broker
except through the principal real estate broker with whom the
real estate broker is associated. Nothing in this section
prevents payment of a commission or fee earned by a real estate
broker or principal real estate broker while licensed, because of
change of affiliation or inactivation of the broker's license.
  (2) Nothing in subsection (1) of this section is intended to
prohibit a real estate licensee who has a written property
management agreement with the owner of a residential building or
facility from authorizing the payment of a referral fee, rent
credit or other compensation to an existing tenant of the owner
or licensee, or a former tenant if the former tenant resided in
the building or facility within the previous six months, as
compensation for referring new tenants to the licensee.
  (3) Nothing in subsection (1) of this section is intended to
prevent an Oregon real estate broker or principal real estate
broker from sharing a commission on a cooperative nonresidential
real estate transaction with a person who holds an active real
estate license in another state or country, provided:
  (a) Before the out-of-state real estate licensee performs any
act in this state that constitutes professional real estate
activity, the licensee and the cooperating Oregon real estate
broker or principal real estate broker agree in writing that the
acts constituting professional real estate activity conducted in
this state will be under the supervision and control of the
cooperating Oregon broker and will comply with all applicable
Oregon laws;
  (b) The cooperating Oregon real estate broker or principal real
estate broker accompanies the out-of-state real estate licensee
and the client during any property showings or negotiations
conducted in this state; and
  (c) All property showings and negotiations regarding
nonresidential real estate located in this state are conducted
under the supervision and control of the cooperating Oregon real
estate broker or principal real estate broker.
  (4) Nothing in subsection (1) of this section is intended to
prohibit a real estate licensee from directly compensating a
licensed personal assistant if permitted by the terms, conditions
and requirements of a licensed personal assistant agreement under
ORS 696.028.
   { +  (5) Notwithstanding subsection (1) of this section, a
real estate licensee may pay a finder's fee to a nonprofit
organization. The finder's fee shall be paid out of escrow. + }
    { - (5) - }   { + (6) + } As used in subsection (3) of this
section, ' nonresidential real estate' means any real property
that is improved or available for improvement by commercial
structures or five or more residential dwelling units.
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