New York License Law
Under New York law, a licensee who accepts a commission from both the buyer and the seller without disclosing this arrangement to both parties:
AHas earned a higher commission and is not required to disclose it
BHas violated their fiduciary duty and is subject to DOS discipline and potential civil liability✓ Correct
CMay do so freely if both parties would have agreed if asked
DIs only liable if the total commission exceeds 6%
Explanation
A New York licensee who receives compensation from both the buyer and the seller must disclose this to both parties and obtain their informed consent. Accepting undisclosed dual compensation violates the agent's fiduciary duties and is grounds for DOS disciplinary action and civil liability.
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