Key Takeaways
- State sanctions follow a graduated structure from reprimand through mandatory education, fines, suspension, and revocation.
- Consent orders provide an alternative to formal hearings but create permanent disciplinary records.
- Recovery funds provide consumer restitution when licensee judgments are uncollectible, funded by licensee fees.
- Recovery fund payments result in automatic license suspension until the amount is repaid with interest.
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Test Your Knowledge
1.What types of sanctions can state real estate commissions impose?
2.What is a consent order in the context of state regulatory enforcement?
3.What is a real estate recovery fund?