A broker's license was issued with a condition requiring maintenance of errors and omissions insurance. During a routine audit, GREC discovers the broker has been operating without the required E&O coverage for 90 days. What action is GREC most likely to take?
Correct Answer
D) Immediate suspension of the license until proof of compliant coverage is provided
Under O.C.G.A. § 43-40-25, when a license condition — such as maintaining E&O insurance — is violated, GREC's standard response is to suspend the license until the licensee demonstrates compliance. Suspension is the proportionate remedy because it immediately protects consumers while giving the licensee a path to reinstatement upon curing the deficiency.
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