Under the Illinois Real Estate License Act of 2000, which of the following best describes the range of disciplinary sanctions the Department may impose on a licensee found to have committed a substantiated violation?
Correct Answer
D) The Department may impose a reprimand, probation, suspension, revocation, fines, or any other sanction authorized by the Act.
Under 225 ILCS 454/20-10, the Department of Financial and Professional Regulation is authorized to impose a broad range of disciplinary sanctions, including reprimand, probation, suspension, revocation, refusal to renew, and civil fines up to $25,000 per violation. No single sanction is exclusive; the Department selects the appropriate remedy based on the severity of the violation.
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Related Topics & Key Terms
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Related Concepts
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.
A group boycott is an illegal antitrust practice in which two or more competing real estate businesses agree to refuse to work with a specific person, company, or entity in order to harm that party's ability to compete.
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