The Montana Board of Realty Regulation is conducting a disciplinary hearing against a licensed broker. Which of the following actions is within the MBRR's authority to impose as a disciplinary measure?
Correct Answer
B) Imposing a civil fine, suspending the broker's license, or revoking the broker's license
Under MCA Title 37, Chapter 51, the MBRR has authority to impose a range of disciplinary sanctions including civil fines, license suspension, and license revocation. These administrative remedies are the primary enforcement tools available to the Board when a licensee violates the Real Estate Licensing Act or related rules.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Florida brokers are required to maintain transaction records and escrow records for a minimum of five years.
A tie-in arrangement is an illegal antitrust practice in which a seller conditions the purchase of one product or service on the buyer's agreement to purchase a separate product or service.
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.
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