California Codes, Civil Code - CIV, Division 2 — Property, Part 4 — Acquisition of Property, Title 4 — Transfer, Chapter 1 — Transfers in General, Article 6 — Agency Listings for the Transfer of Certain Property, Section 1087
A multiple listing service (MLS) is a facility of cooperation of agents and appraisers, operating through an intermediary that does not itself act as an agent or appraiser, through which agents establish express or implied contracts for compensation between agents that are MLS participants in accordance with its MLS rules with respect to listed properties in a listing agreement, or that may be used by agents and appraisers, pursuant to the rules of the service, to prepare market evaluations and appraisals of real property.
Notes
Defines a multiple listing service as a cooperative facility for agents and appraisers operating through an intermediary that does not itself act as an agent or appraiser. Participants may use it under its rules to establish compensation contracts concerning listed properties and to prepare real-property market evaluations and appraisals.
Use as reference
Lexinter.net | California Code, Civil Code - CIV § 1087 | https://laws.lexinter.net/codes/california/civil-code/division-2/part-4/title-4/chapter-1/article-6/section-1087