Which of the following disciplinary actions is the Maine Real Estate Commission (MREC) authorized to take against a licensee?
Correct Answer
B) Suspend or revoke a license and impose civil fines
The Maine Real Estate Commission (MREC) is authorized to take administrative disciplinary actions against licensees, including suspending or revoking a license, refusing to renew a license, and imposing civil fines. MREC does not have the authority to impose criminal penalties such as imprisonment — criminal prosecution must be pursued through the courts under Maine law (32 M.R.S. §13077). MREC also cannot unilaterally void contracts entered into by licensees on behalf of their clients.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
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.
Advertising regulations govern how real estate licensees may market properties and services, requiring truthful, non-deceptive advertising that includes proper identification of the brokerage.
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