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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.

00 Enrolled 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.