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17-42-406. Disciplinary hearing — Procedure.
Arkansas Code — all titles (historical 2020) · legal_authorities
17-42-406. Disciplinary hearing — Procedure.
(a)(1) In any disciplinary hearing before the Arkansas Real Estate Commission which involves any licensee who has allegedly violated any provision of this chapter or commission rules, the commission shall first determine whether a violation has occurred.
(2) If so, the commission shall then determine the amount of damages, if any, suffered by the aggrieved party or parties. However, damages shall be limited to actual damages in accordance with § 17-42-407.
(3) The commission shall then direct the licensee to pay that amount to the aggrieved party or parties.
(4) If that amount has not been paid within thirty (30) days following entry of the commission's final order in the matter and the order has not been appealed to the circuit court, then the commission shall pay, upon request, from the Real Estate Recovery Fund to the aggrieved party or parties the amount specified. However, the commission shall not:
(A) Pay in excess of twenty-five thousand dollars ($25,000) for any one (1) violation or continuing series of violations, regardless of the number of licensees who participated in such a violation or continuing series of violations; or
(B) Pay an amount in excess of the fund balance.
(b) The question of whether or not certain violations constitute a continuing series of violations shall be a matter solely within the discretion and judgment of the commission.
(c) Nothing within this subchapter shall obligate the fund for any amount in excess of a total of seventy-five thousand dollars ($75,000) with respect to:
(1) The acts of any one (1) licensee; or
(2) Any group of related claims.
(d) Whether or not a claim is one (1) of a group of related claims shall be a matter solely within the discretion and judgme
Source: Arkansas Code — historical release 78 (November 6, 2020) · 17-42-406
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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Record provenance
Stable record: arkansas_code:legal_authorities:17-42-406
Source file: gov.ar.code.title.17.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 1f482181a4887fe38c0e8a06f2b440a674c9d29a65f0a95cada754453c203306
Source location: content.xml paragraph 15661
Stored source content
17-42-406. Disciplinary hearing — Procedure.
(a)(1) In any disciplinary hearing before the Arkansas Real Estate Commission which involves any licensee who has allegedly violated any provision of this chapter or commission rules, the commission shall first determine whether a violation has occurred.
(2) If so, the commission shall then determine the amount of damages, if any, suffered by the aggrieved party or parties. However, damages shall be limited to actual damages in accordance with § 17-42-407.
(3) The commission shall then direct the licensee to pay that amount to the aggrieved party or parties.
(4) If that amount has not been paid within thirty (30) days following entry of the commission's final order in the matter and the order has not been appealed to the circuit court, then the commission shall pay, upon request, from the Real Estate Recovery Fund to the aggrieved party or parties the amount specified. However, the commission shall not:
(A) Pay in excess of twenty-five thousand dollars ($25,000) for any one (1) violation or continuing series of violations, regardless of the number of licensees who participated in such a violation or continuing series of violations; or
(B) Pay an amount in excess of the fund balance.
(b) The question of whether or not certain violations constitute a continuing series of violations shall be a matter solely within the discretion and judgment of the commission.
(c) Nothing within this subchapter shall obligate the fund for any amount in excess of a total of seventy-five thousand dollars ($75,000) with respect to:
(1) The acts of any one (1) licensee; or
(2) Any group of related claims.
(d) Whether or not a claim is one (1) of a group of related claims shall be a matter solely within the discretion and judgment of the commission.
(e) When unsatisfied or pending claims are such that they exceed the limits payable under subsection (c) of this section, the commission shall be the sole determinant of how the available funds shall be allocated among such claims.
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Arkansas Code — all titles (historical 2020) · legal_authorities
17-42-407. Jurisdiction.
(a) The Arkansas Real Estate Commission's jurisdiction and authority to award damages to an aggrieved party pursuant to § 17-42-406 is limited to actual, compensatory damages. The commission shall not award punitive or exemplary damages, nor shall it award interest on damages.
(b) Likewise, the appellate jurisdiction of the circuit court is limited to the awarding of actual, compensatory damages.
(c) The circuit court shall have no authority or jurisdiction to assess punitive or exemplary damages under this subchapter.
(d) The circuit court's jurisdiction over the Real Estate Recovery Fund shall be limited to appeals from the commission's orders.
(e) The circuit court shall have no jurisdiction or authority to order payments from the fund in any amount in excess of either:
(1) The amount determined by the commission; or
(2) The limits set forth in § 17-42-406.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 17-42-407
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 17-42-407. This identifies an authority to review, not proof of applicability.