Enrolled HB 267: Relating to the Real Estate Commission; relating to temporary permits issued by the Real Estate Commission; relating to licensed assistants who are employed by other real estate licensees; relating to contributions by a real estate licensee to a charitable organization; and providing for an effective date.
00Enrolled HB 267 01 Relating to the Real Estate Commission; relating to temporary permits issued by the Real 02 Estate Commission; relating to licensed assistants who are employed by other real estate 03 licensees; relating to contributions by a real estate licensee to a charitable organization; and 04 providing for an effective date. 05 _______________ 06 * Section 1. AS 08.88.071(a) is amended to read: 07 (a) The commission shall 08 (1) determine whether applicants meet requirements for licenses under 09 this chapter and issue licenses to those who qualify; 10 (2) prepare and grade examinations; 11 (3) after hearing, have the authority to suspend or revoke the license of 12 a licensee or impose other disciplinary sanctions authorized under AS 08.01.075 on a 13 licensee who 14 (A) with respect to a real estate transaction
01 (i) made a substantial misrepresentation; 02 (ii) made a false promise likely to influence, persuade, 03 or induce; 04 (iii) in the case of a real estate broker, pursued a 05 flagrant course of misrepresentation or made a false promise through 06 another real estate licensee; 07 (iv) has engaged in conduct that is fraudulent or 08 dishonest; 09 (v) violates AS 08.88.391; 10 (vi) violates AS 08.88.396; 11 (B) procures a license by deceiving the commission, or aids 12 another to do so; 13 (C) has engaged in conduct of which the commission did not 14 have knowledge at the time the licensee was licensed demonstrating the 15 licensee's unfitness to engage in the business for which the licensee is licensed; 16 (D) knowingly authorizes, directs, connives at, or aids in 17 publishing, distributing, or circulating a material false statement or 18 misrepresentation concerning the licensee's business or concerning real estate 19 offered for sale, rent, or lease, or managed in the course of the licensee's 20 business in this or any other state or concerning the management of an 21 association in the course of a licensee's business in this or another state; 22 (E) if a real estate broker, wilfully violates AS 08.88.171(d) or 23 08.88.291; 24 (F) if an associate real estate broker, claims to be a real estate 25 broker, or, if a real estate salesperson, claims to be a real estate broker or 26 associate real estate broker; 27 (G) if a real estate broker, employs an unlicensed person to 28 perform activities for which a real estate license is required; 29 (H) if an employed real estate licensee of a real estate broker, 30 fails immediately to turn money or other property collected in a real estate 31 transaction over to the employing real estate broker; or
01 (I) fails to carry and maintain errors and omissions insurance 02 with terms and conditions established by the commission under AS 08.88.172; 03 (4) prosecute, through the Department of Law, violations of the 04 provisions of this chapter or lawful regulations adopted under this chapter; 05 (5) release for publication in a newspaper of general circulation in the 06 locale of the offending person's principal office registered with the commission notice 07 of disciplinary action taken by the commission against a person licensed under this 08 chapter; 09 (6) issue a temporary permit to the personal representative of the estate 10 of a deceased real estate broker or to another person designated by the commission 11 with the approval of the personal representative of the estate in order to secure proper 12 administration in concluding the affairs of the decedent broker's real estate business; 13 (7) issue a temporary permit to a licensee designated by the 14 commission for the purpose of securing proper administration, temporarily 15 managing, or concluding the affairs of the real estate business of a broker if 16 (A) an investigation produces substantial evidence that the 17 broker has misappropriated trust funds; 18 (B) the real estate license of the broker is suspended; or 19 (C) the broker is incapacitated because of a traumatic event 20 or medical condition, as defined in regulations adopted by the 21 commission; 22 (8) issue a temporary permit to the personal representative of a 23 legally incompetent real estate broker or to another person designated by the 24 commission with the approval of the personal representative of the broker in order to 25 secure proper administration in temporarily managing the real estate business of the 26 broker; 27 (9) [(8)] establish and periodically revise the form of the seller's 28 property disclosure statement required by AS 34.70.010; 29 (10) [(9)] have the authority to levy civil fines as established in this 30 chapter; 31 (11) [(10)] revoke the license of a broker, associate broker, or real
01 estate salesperson who is convicted of a felony or other crime committed while 02 licensed under this chapter that, in the judgment of the commission, affects the ability 03 of that person to practice as a broker, associate broker, or real estate salesperson 04 competently and safely or who is convicted of forgery, theft, extortion, conspiracy to 05 defraud creditors, or fraud; notwithstanding AS 08.88.171, a person whose license is 06 revoked under this paragraph is not qualified to obtain or renew a license under 07 AS 08.88.171(a) - (c) until seven years have elapsed since the person completed the 08 sentence imposed for the conviction. 09 * Sec. 2. AS 08.88.398 is amended to read: 10 Sec. 08.88.398. Licensed assistants. A licensed real estate salesperson or 11 licensed associate real estate broker may act as a licensed assistant to another 12 licensed salesperson or associate real estate broker only [A REAL ESTATE 13 LICENSEE OTHER THAN THE BROKER WHO EMPLOYS THE SALESPERSON 14 OR ASSOCIATE BROKER] if 15 (1) the licensed assistant and the salesperson or associate broker 16 are both employed by the same broker; 17 (2) the licensed assistant is not employed to perform activities 18 requiring licensure under this chapter for more than one licensed real estate 19 broker; 20 (3) the employment arrangement between the licensed assistant and the 21 salesperson or associate real estate broker [OTHER LICENSEE] is in writing and 22 conforms to the applicable state and federal regulations regarding employment; 23 (4) [(2)] the employment of the licensed assistant is approved in 24 writing by the broker who employs both the salesperson or associate real estate 25 broker and [OF THE LICENSEE WHO EMPLOYS] the licensed assistant; 26 (5) [(3)] the salesperson or associate real estate broker [LICENSEE] 27 who employs the licensed assistant agrees to be responsible for paying the licensed 28 assistant's wages and appropriate taxes and completing the appropriate state and 29 federal tax forms; and 30 (6) [(4)] the broker of the salesperson or associate real estate broker 31 [LICENSEE] who employs the licensed assistant agrees to be liable for the actions of
01 the licensed assistant. 02 * Sec. 3. AS 08.88.401(e) is amended to read: 03 (e) The prohibition of (d)(1) of this section does not prohibit 04 (1) payments by a licensee to a person licensed to perform real estate 05 activities in another jurisdiction if the other person has assisted the licensee in the 06 performance of an act for which a license is required by this chapter; [OR] 07 (2) payments from a real estate licensee to a principal as part of the 08 resolution of a dispute regarding the terms of a transaction or regarding the property 09 transferred; or 10 (3) contributions from a licensee to a charitable organization and 11 advertisement of the licensee's intent to make the charitable donation. 12 * Sec. 4. This Act takes effect July 1, 2012.