A Georgia licensee committed a trust account recordkeeping violation. After GREC opened a formal investigation, the licensee immediately corrected all records and brought the account into full compliance. How does the post-investigation correction affect the disciplinary proceeding?
Correct Answer
D) The original violation still stands as a disciplinable offense, though the correction may be considered as a mitigating factor in determining the penalty.
Under O.C.G.A. § 43-40-25 and GREC disciplinary procedures, a violation is established at the time it occurs. Subsequent correction does not retroactively erase the offense. However, GREC may consider voluntary remediation as a mitigating factor when determining the appropriate sanction on the disciplinary ladder.
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Previous Question
A Georgia broker's affiliated salesperson published misleading advertising without the broker's knowledge or direct involvement. The broker had no written advertising policy and never reviewed the salesperson's marketing materials. Regarding GREC disciplinary authority, which statement is correct?
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A Georgia broker failed to maintain proper escrow account records and used $15,000 in client earnest money deposits for personal business expenses. GREC has substantiated the violation. What is the most severe administrative action GREC itself can take against this broker's license?