61-2-13. Grounds for revocation of principal broker's license -- Automatic
inactivation of affiliated associate brokers and sales agents licenses.
(1) (a) An unlawful act or violation of this chapter committed by a person listed in
Subsection (1)(b) is cause for:
(i) the revocation, suspension, or probation of a principal broker's license; or
(ii) the imposition of a fine against the principal broker in an amount not to exceed
$2,500 per violation.
(b) Subsection (1)(a) applies to an act or violation by any of the following:
(i) a real estate sales agent or associate broker employed by a licensed principal broker;
(ii) a real estate sales agent or associate broker engaged as an independent contractor by
or on behalf of a licensed principal broker; or
(iii) an employee, officer, or member of a licensed principal broker.
(2) (a) The revocation or suspension of a principal broker license automatically
inactivates an associate broker or sales agent license granted to a person by reason of that
person's affiliation with the principal broker whose license is revoked or suspended, pending a
change of broker affiliation.
(b) A principal broker shall, before the effective date of a suspension or revocation of the
principal broker's license, notify in writing every licensee affiliated with the principal broker of
the revocation or suspension of the principal broker license.
Amended by Chapter 387, 2008 General Session
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Last revised: Thursday, May 28, 2009