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§ 17-1815. Yacht salespersons

West's Annotated Code of MarylandBusiness RegulationEffective: [See Text Amendments] to September 30, 2022

West's Annotated Code of Maryland
Business Regulation (Refs & Annos)
Title 17. Miscellaneous State Business Licenses (Refs & Annos)
Subtitle 18. Traders and Chain Stores (Refs & Annos)
Effective: [See Text Amendments] to September 30, 2022
MD Code, Business Regulation, § 17-1815
§ 17-1815. Yacht salespersons
(a)(1) In this section the following words have the meanings indicated.
(2) “Yacht brokerage” means the sale of new or used vessels.
(3)(i) “Yacht salesperson” means an individual who provides yacht brokerage services on behalf of a licensed trader.
(ii) “Yacht salesperson” includes a licensed yacht broker.
(b) Subject to the provisions of this section, a licensed trader who sells yachts may, at the trader's option, utilize as an independent contractor, employ, or otherwise contract with a yacht salesperson.
(c) A yacht salesperson:
(1) may operate under a trader's license; and
(2) is not required to be licensed personally.
(d)(1) A licensed trader shall exercise reasonable and adequate supervision over the provision of yacht brokerage services by a yacht salesperson on behalf of the trader.
(2) The requirement of paragraph (1) of this subsection shall apply regardless of the manner in which a yacht salesperson is affiliated with the trader on whose behalf the services are rendered.

Credits

Added by Acts 1992, c. 624, § 2.
MD Code, Business Regulation, § 17-1815, MD BUS REG § 17-1815
Current through all legislation from the 2022 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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