txt

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.