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17-42-109. Civil penalties for engaging in unlicensed real estate activity.
Arkansas Code — all titles (historical 2020) · legal_authorities
17-42-109. Civil penalties for engaging in unlicensed real estate activity.
(a) If after notice and a hearing in accordance with this chapter and the Arkansas Administrative Procedure Act, § 25-15-201 et seq., the Arkansas Real Estate Commission finds that a person has engaged in unlicensed real estate activity, the commission may impose a civil penalty of no more than five thousand dollars ($5,000) and assess costs against the person.
(b) The fact that a person offers to engage in or offers to perform any practice, act, or operation set forth in § 17-42-103(10) without a license is prima facie evidence that the person is engaged in unlicensed real estate activity.
(c) In addition to civil penalties imposed under this section, the commission may require the person engaged in unlicensed real estate activity to reimburse any compensation, fees, or other remuneration collected during the unlicensed real estate activity.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 17-42-109
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:17-42-109
Source file: gov.ar.code.title.17.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 74c76ea29ba3c4ff1e34b4b59a4f1f1de4dc0fde129bd7ed8e56f01f87e72aae
Source location: content.xml paragraph 15032
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17-42-109. Civil penalties for engaging in unlicensed real estate activity.
(a) If after notice and a hearing in accordance with this chapter and the Arkansas Administrative Procedure Act, § 25-15-201 et seq., the Arkansas Real Estate Commission finds that a person has engaged in unlicensed real estate activity, the commission may impose a civil penalty of no more than five thousand dollars ($5,000) and assess costs against the person.
(b) The fact that a person offers to engage in or offers to perform any practice, act, or operation set forth in § 17-42-103(10) without a license is prima facie evidence that the person is engaged in unlicensed real estate activity.
(c) In addition to civil penalties imposed under this section, the commission may require the person engaged in unlicensed real estate activity to reimburse any compensation, fees, or other remuneration collected during the unlicensed real estate activity.
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Arkansas Code — all titles (historical 2020) · legal_authorities
17-42-103. Definitions.
As used in this chapter:
(1)(A) “Associate broker” means an individual who has a broker's license and who is employed by a principal broker, or is associated with a principal broker as an independent contractor, and who participates in any activity described in subdivision (10) of this section while under the supervision of a principal broker or executive broker.
(B) An associate broker shall have no supervisory authority over any other licensee;
(2) “Branch office” means a principal broker's office other than his or her principal place of business;
(3) “Broker's price opinion” means an estimate prepared by a licensee that details the probable selling price of real estate and provides a varying level of detail about the real estate's condition, market, and neighborhood, and information about sales of comparable real estate;
(4) “Classroom hour” means a period of at least fifty (50) minutes, but not more than sixty (60) minutes, of actual classroom instruction with the instructor present;
(5) “Continuing education” means postlicensure education derived from participation in courses in real estate-related subjects that have been approved by the Arkansas Real Estate Commission or that are not required to be approved by the commission;
(6) “Continuing education unit” means a period of ten (10) contact hours of actual classroom instruction with the instructor present;
(7)(A) “Executive broker” means an individual who:
(i) Has a broker's license;
(ii) Is employed by a principal broker or associated with a principal broker as an independent contractor; and
(iii) Participates in any activity described in subdivision (10) of this section while under the supervision of a principal broker.
(B) An executive broker may supervise assoc
Source: Arkansas Code — historical release 78 (November 6, 2020) · 17-42-103
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 17-42-103. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
25-15-201. Title.
This subchapter shall be known and cited as the “Arkansas Administrative Procedure Act”.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 25-15-201
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 25-15-201. This identifies an authority to review, not proof of applicability.