{"data":{"id":"us-ky/krs-324.236","jurisdiction":"us-ky","citation":"KRS 324.236","heading":"Engaging in commercial real estate brokerage by out -of-state principal","body":"broker and out-of-state licensee.\nAn out -of-state principal broker and his or her out -of-state licensee, for or in the\nexpectation of a fee, commission, compensation, or other valu able consideration, may\nengage in real estate brokerage with respect to commercial real estate if the requirements\nof this section are satisfied:\n(1) The out -of-state licensee shall be licensed with and work under the direct\nsupervision of the out-of-state principal broker;\n(2) The out -of-state principal broker shall enter into a written cooperation agreement\nwith the Kentucky cooperating broker that shall include but not be limited to the\nfollowing:\n(a) The terms of cooperation and compensation between the out-of-state principal\nbroker and the Kentucky cooperating broker;\n(b) A description of the parties, the commercial real estate, or other information\nsufficient to identify the specific transactions governed by the cooperation\nagreement; and\n(c) The effec tive date and a definite termination date of the cooperation\nagreement; and\n(3) Regarding transactions that fall within the scope of the cooperation agreement\nspecified in subsection (2) of this section, the out -of-state principal broker and the\nout-of-state licensee shall:\n(a) Work in cooperation with a Kentucky cooperating broker;\n(b) Furnish the Kentucky cooperating broker with a copy of the out -of-state\nprincipal broker's and out -of-state licensee's current real estate license from\nthe jurisdiction of his or her primary place of business;\n(c) Limit acts of real estate brokerage to commercial real estate transactions\nreferenced in the cooperation agreement;\n(d) Only list commercial real estate located in this state for sale, lease, or\nexchange if the real estate is co-listed with the Kentucky cooperating broker;\n(e) Be prohibited from holding escrow funds, security deposits, or other moneys\nin escrow or other accounts located outside this state;\n(f) Promptly provide the Kentucky cooperating broker with rel evant\ndocumentation relating to the specific transaction or transactions governed by\nthe cooperation agreement;\n(g) Keep the Kentucky cooperating broker fully informed of all activities through\nprompt communications;\n(h) Perform all actions under the direct supervision and control of the Kentucky\ncooperating broker;\n(i) List his or her individual name, firm name, or both in advertising for\ncommercial real estate transactions only if the advertising:\n1. Includes with equal prominence the same identifying information for the\nKentucky cooperating broker and his or her relevant licensees, except\nthat, with respect to multistate portfolio listings, only the name or firm\nof the Kentucky cooperating broker printed in legible type shall be\nmandatory, with no requirement concerning prominence; and\n2. Otherwise complies with the requirements of this chapter;\n(j) Comply with and be bound by and subject to Kentucky law and the\nregulations of the commission, including but not limited to KRS 324.235 to\n324.238;\n(k) Not engage in improper conduct as set out in KRS 324.160(4); and\n(l) File with the Kentucky cooperating broker a true and complete notice of\naffiliation in compliance with KRS 324.327.","path":["KRS Chapter 324"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=31589","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:19Z","sha256":"05737d4ba7c1e5fd3cf4d285a87e4431b77329ccb1f9e510de52e0112010cdb7","source_id":"us-ky","stale":false,"prev":"us-ky/krs-324.235","next":"us-ky/krs-324.237"},"notice":"GroundRules: Original legal text. Not legal advice."}