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§ 17-412. Suspension and reinstatement of license

West's Annotated Code of MarylandBusiness Occupations and Professions

West's Annotated Code of Maryland
Business Occupations and Professions
Title 17. Real Estate Brokers (Refs & Annos)
Subtitle 4. Real Estate Guaranty Fund (Refs & Annos)
MD Code, Business Occupations & Professions, § 17-412
§ 17-412. Suspension and reinstatement of license
Suspension of license
(a) If the Commission orders payment by the Guaranty Fund of a claim based on an act or omission for which a licensee is responsible, the Commission immediately and without further proceedings shall suspend the license of the licensee.
Grounds for reinstatement
(b) The Commission may not reinstate a license that is suspended under this section until the individual whose license was suspended:
(1) repays in full:
(i) the amount paid by the Guaranty Fund; and
(ii) the interest due under § 17-411(a)(2) of this subtitle; and
(2) applies to the Commission for reinstatement of the license.
Sanctions imposed by Commission
(c) Regardless of whether the disciplinary sanction was imposed for the same act or omission that gave rise to the claim against the Guaranty Fund, the reimbursement of the Guaranty Fund by a licensee does not affect any sanction imposed by the Commission against an individual under the disciplinary provisions of Subtitle 3 of this title.

Credits

Added by Acts 1989, c. 3, § 1, eff. Oct. 1, 1989. Renumbered from Business Occupations and Professions § 16-412 by Acts 1994, c. 3, § 13, eff. Feb. 28, 1994.
Formerly Art. 56A, § 4-412.
MD Code, Business Occupations & Professions, § 17-412, MD BUS OCCUP & PROF § 17-412
Current with all legislation from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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