The Alaska Real Estate Commission receives a formal complaint against broker David Larson alleging that he commingled client funds with his personal account. Which of the following actions is within AREC's authority under AS 08.88?
Correct Answer
A) Suspending or revoking the broker's real estate license after a hearing
Under AS 08.88, AREC has the authority to suspend or revoke a real estate license after conducting a proper disciplinary hearing. Commingling client funds is a clear violation of trust account rules under 12 AAC 64, and license suspension or revocation is the appropriate regulatory sanction AREC can impose.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The National Do Not Call Registry is a federal program administered by the FTC that allows consumers to opt out of receiving unsolicited telemarketing calls, including calls from real estate agents soliciting business.
Brokers in Florida have strict responsibilities for managing escrow accounts, including monthly reconciliation and proper handling of trust funds.
FREC has the authority to impose fines and other disciplinary actions on licensees who violate real estate laws and rules.
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