Sarah holds a Vermont real estate salesperson license. She is accused of commingling client funds with her personal bank account. Which body has the authority to investigate this complaint and impose disciplinary action against Sarah?
Correct Answer
D) The Vermont Real Estate Commission (VREC)
Under 26 V.S.A. Chapter 41, the Vermont Real Estate Commission (VREC) has the authority to investigate complaints against licensees, conduct hearings, and impose disciplinary sanctions — including license suspension, revocation, or fines — for violations such as commingling client funds with personal accounts.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Broker supervision is the legal obligation of a designated or managing broker to oversee and be accountable for the real estate activities of all salespersons and associate brokers operating under their license.
Commingling is the illegal act of mixing client funds with a broker's personal or business operating funds, while conversion is the unauthorized use of client funds for the broker's own benefit. Both are serious violations that can result in license revocation.
Commingling is the illegal act of mixing client trust funds with a broker's personal or business operating funds; conversion is the misappropriation of those funds.
More Practice Of Real Estate Questions
In Wyoming real estate practice, an associate broker or salesperson is not associated with a responsible broker at renewal. What should the licensee remember?
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In Wyoming real estate practice, a salesperson applicant age is reviewed. What should the licensee remember?
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