SB 158: "An Act relating to the Real Estate Commission; and providing for an effective date."
00 SENATE BILL NO. 158 01 "An Act relating to the Real Estate Commission; and providing for an effective date." 02 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 03 * Section 1. AS 08.88.071(a) is amended to read: 04 (a) The commission shall 05 (1) determine whether applicants meet requirements for licenses under 06 this chapter and issue licenses to those who qualify; 07 (2) prepare and grade examinations; 08 (3) after hearing, have the authority to suspend or revoke the license of 09 a licensee or impose other disciplinary sanctions authorized under AS 08.01.075 on a 10 licensee who 11 (A) with respect to a real estate transaction 12 (i) made a substantial misrepresentation; 13 (ii) made a false promise likely to influence, persuade, 14 or induce; 15 (iii) in the case of a real estate broker, pursued a
01 flagrant course of misrepresentation or made a false promise through 02 another real estate licensee; 03 (iv) has engaged in conduct that is fraudulent or 04 dishonest; 05 (v) violates AS 08.88.391; 06 (vi) violates AS 08.88.396; 07 (B) procures a license by deceiving the commission, or aids 08 another to do so; 09 (C) has engaged in conduct of which the commission did not 10 have knowledge at the time the licensee was licensed demonstrating the 11 licensee's unfitness to engage in the business for which the licensee is licensed; 12 (D) knowingly authorizes, directs, connives at, or aids in 13 publishing, distributing, or circulating a material false statement or 14 misrepresentation concerning the licensee's business or concerning real estate 15 offered for sale, rent, or lease, or managed in the course of the licensee's 16 business in this or any other state or concerning the management of an 17 association in the course of a licensee's business in this or another state; 18 (E) if a real estate broker, wilfully violates AS 08.88.171(d) or 19 08.88.291; 20 (F) if an associate real estate broker, claims to be a real estate 21 broker, or, if a real estate salesperson, claims to be a real estate broker or 22 associate real estate broker; 23 (G) if a real estate broker, employs an unlicensed person to 24 perform activities for which a real estate license is required; 25 (H) if an employed real estate licensee of a real estate broker, 26 fails immediately to turn money or other property collected in a real estate 27 transaction over to the employing real estate broker; or 28 (I) fails to carry and maintain errors and omissions insurance 29 with terms and conditions established by the commission under AS 08.88.172; 30 (4) prosecute, through the Department of Law, violations of the 31 provisions of this chapter or lawful regulations adopted under this chapter;
01 (5) release for publication in a newspaper of general circulation in the 02 locale of the offending person's principal office registered with the commission notice 03 of disciplinary action taken by the commission against a person licensed under this 04 chapter; 05 (6) issue a temporary permit to the personal representative of the estate 06 of a deceased real estate broker or to another person designated by the commission 07 with the approval of the personal representative of the estate in order to secure proper 08 administration in concluding the affairs of the decedent broker's real estate business; 09 (7) issue a temporary permit to a licensee designated by the 10 commission for the purpose of securing proper administration, temporarily 11 managing, or concluding the affairs of the real estate business of a broker if 12 (A) an investigation produces substantial evidence that the 13 broker has misappropriated trust funds; 14 (B) the real estate license of the broker is suspended; or 15 (C) the broker is incapacitated because of a traumatic event 16 or medical condition, as defined in regulations adopted by the board; 17 (8) issue a temporary permit to the personal representative of a 18 legally incompetent real estate broker or to another person designated by the 19 commission with the approval of the personal representative of the broker in order to 20 secure proper administration in temporarily managing the real estate business of the 21 broker; 22 (9) [(8)] establish and periodically revise the form of the seller's 23 property disclosure statement required by AS 34.70.010; 24 (10) [(9)] have the authority to levy civil fines as established in this 25 chapter; 26 (11) [(10)] revoke the license of a broker, associate broker, or real 27 estate salesperson who is convicted of a felony or other crime committed while 28 licensed under this chapter that, in the judgment of the commission, affects the ability 29 of that person to practice as a broker, associate broker, or real estate salesperson 30 competently and safely or who is convicted of forgery, theft, extortion, conspiracy to 31 defraud creditors, or fraud; notwithstanding AS 08.88.171, a person whose license is
01 revoked under this paragraph is not qualified to obtain or renew a license under 02 AS 08.88.171(a) - (c) until seven years have elapsed since the person completed the 03 sentence imposed for the conviction. 04 * Sec. 2. AS 08.88.398 is amended to read: 05 Sec. 08.88.398. Licensed assistants. A licensed real estate salesperson or 06 licensed associate real estate broker may act as a licensed assistant to another 07 licensed salesperson or associate real estate broker [A REAL ESTATE LICENSEE 08 OTHER THAN THE BROKER WHO EMPLOYS THE SALESPERSON OR 09 ASSOCIATE BROKER] if 10 (1) the licensed assistant and the salesperson or associate broker 11 are both employed by the same broker; 12 (2) the employment arrangement between the licensed assistant and the 13 salesperson or associate real estate broker [OTHER LICENSEE] is in writing and 14 conforms to the applicable state and federal regulations regarding employment; 15 (3) [(2)] the employment of the licensed assistant is approved in 16 writing by the broker who employs both the salesperson or associate real estate 17 broker and [OF THE LICENSEE WHO EMPLOYS] the licensed assistant; 18 (4) [(3)] the salesperson or associate real estate broker [LICENSEE] 19 who employs the licensed assistant agrees to be responsible for paying the licensed 20 assistant's wages and appropriate taxes and completing the appropriate state and 21 federal tax forms; 22 (5) [(4)] the broker of the salesperson or associate real estate broker 23 [LICENSEE] who employs the licensed assistant agrees to be liable for the actions of 24 the licensed assistant. 25 * Sec. 3. AS 08.88.401(e) is amended to read: 26 (e) The prohibition of (d)(1) of this section does not prohibit 27 (1) payments by a licensee to a person licensed to perform real estate 28 activities in another jurisdiction if the other person has assisted the licensee in the 29 performance of an act for which a license is required by this chapter; [OR] 30 (2) payments from a real estate licensee to a principal as part of the 31 resolution of a dispute regarding the terms of a transaction or regarding the property
01 transferred; or 02 (3) contributions from a licensee to a charitable organization and 03 advertisement of the licensee's intent to make the charitable donation. 04 * Sec. 4. This Act takes effect July 1, 2012.