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OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®

Daily Real Estate News  |  March 29, 2004  |   Ind.: Commercial License Portability Passes The Indiana state legislature has passed a bill (H.B. 1005) that includes provisions to allow out-of-state commercial practitioners to conduct business in the state. Under the new bill, out-of-state practitioners must sign an agreement with a broker or agent licensed in Indiana in order to share commissions. Previously, out-of-state practitioners were only allowed to refer business to an Indiana broker and receive a referral fee. The law--expected to be signed by Governor Joseph Kernan in the next several weeks—would take effect July 1. "This is a good law that allows out-of-state brokers to do deals here in Indiana," says Karl Berron, vice president of government affairs at the Indiana Association of REALTORSŪ. By Jane Adler for REALTORŪ Magazine Online

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