§ 442-L — After-the-fact referral fees

§ 442-l. After-the-fact referral fees. 1. No real estate broker or\nsalesperson, in any place in which this article is applicable, shall\ndemand or receive a referral fee or compensation of any kind for (i) a\nreferral from any person or other entity relative to finding a seller\nafter a bona fide listing agreement has been signed, (ii) a referral\nfrom any person or other entity relative to finding a buyer after a bona\nfide offer to purchase is accepted, or (iii) a referral from any person\nor other entity relative to finding a property after a bona fide buyer's\nagency agreement has been signed, unless reasonable cause for payment of\nsuch compensation exists.\n 2. A violation of this section shall be a violation of this article\nand shall constitute a deceptive act or practice within the meaning of\nsection three hundred forty-nine of the general business law.\n