A Connecticut real estate salesperson, Kevin, is convicted of a felony involving fraud in federal court. CREC learns of the conviction. Under Connecticut license law, which of the following statements most accurately describes CREC's authority in response to this conviction?
Correct Answer
A) CREC may suspend or revoke Kevin's license based on the felony conviction as grounds for discipline
Under CGS § 20-321, CREC is authorized to suspend or revoke a license if a licensee has been convicted of a crime involving fraud, misrepresentation, or moral turpitude. A federal felony conviction for fraud qualifies as grounds for disciplinary action, and CREC does not need to wait for a state conviction or for the licensee's sentence to be completed.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A trust account, also called an escrow account, is a separate bank account maintained by a broker to hold funds belonging to others, such as earnest money deposits, security deposits, or other client funds.
Advertising regulations govern how real estate licensees may market properties and services, requiring truthful, non-deceptive advertising that includes proper identification of the brokerage.
Antitrust violations in real estate occur when competing brokerages or agents engage in practices that restrain trade, reduce competition, or harm consumers through collusion. These violations are governed by the Sherman Antitrust Act and can result in severe penalties.
More Practice Of Real Estate Questions
In Wyoming real estate practice, an associate broker or salesperson is not associated with a responsible broker at renewal. What should the licensee remember?
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