Minnesota License Law
Under Minnesota license law, a real estate licensee may receive a 'bonus' or 'referral' payment from a third party for a transaction, but only if:
AThe payment is less than $500
BThe payment is fully disclosed to all parties in the transaction✓ Correct
CThe payment is made after closing
DThe payment is approved by the Department of Commerce
Explanation
Any additional compensation received by a Minnesota licensee from a third party must be disclosed to all parties in the transaction. Undisclosed compensation from third parties violates fiduciary duties and Minnesota license law. Full transparency about all compensation sources is required.
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