The Ohio Division of Real Estate receives multiple complaints about a broker's handling of trust funds. The Superintendent determines an emergency exists. Under Ohio law, the Superintendent may:
Correct Answer
B) Issue an emergency suspension order to immediately suspend the broker's license to protect the public
Under ORC §4735.051 and Ohio Administrative Procedure Act (ORC Chapter 119), the Superintendent may issue an emergency suspension order when there is clear and convincing evidence that a licensee's continued practice poses an immediate danger to the public. This emergency action suspends the license immediately, with a hearing scheduled afterward.
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More Oh Division Of Re Rules Disciplinary Process Questions
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An Ohio broker manages 50 rental properties and holds security deposits in the trust account. A tenant moves out and the broker deducts $800 for damages from the $1,200 security deposit. Under Ohio law, the broker must return the remaining $400 to the tenant within:
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Under Ohio law, a broker must display which of the following at their main office?