§ 858-312. Investigations--Cause for suspension or revocation of license
Oklahoma Statutes AnnotatedTitle 59. Professions and OccupationsEffective: November 1, 2019
Effective: November 1, 2019
59 Okl.St.Ann. § 858-312
§ 858-312. Investigations--Cause for suspension or revocation of license
The Oklahoma Real Estate Commission may, upon its own motion, and shall, upon written complaint filed by any person, investigate the business transactions of any real estate licensee, and may, upon showing good cause, impose sanctions as provided for in Section 858-208 of this title. Cause shall be established upon the showing that any licensee has performed, is performing, has attempted to perform, or is attempting to perform any of the following acts:
12. Using prizes, money, gifts or other valuable consideration as an inducement to secure customers or clients to purchase specific property; however, licensees may use prizes, money, gifts or other valuable consideration for marketing purposes provided they are not contingent or limited to individuals making an offer or purchasing a specific property;
13. Accepting employment or compensation for appraising real estate contingent upon the reporting of a predetermined value or issuing any appraisal report on real estate in which the licensee has an interest unless the licensee's interest is disclosed in the report. All appraisals shall be in compliance with the Oklahoma real estate appraisal law, and the person performing the appraisal or report shall disclose to the employer whether the person performing the appraisal or report is licensed or certified by the Oklahoma Real Estate Appraiser Board;
19. Conviction in a court of competent jurisdiction in this or any other state of the crime of forgery, embezzlement, obtaining money under false pretenses, extortion, conspiracy to defraud, fraud, or any similar offense or offenses, or pleading guilty or nolo contendere to any such offense or offenses;
23. Violation of the Residential Property Condition Disclosure Act.1
Credits
Laws 1974, c. 121, § 312, operative July 1, 1974; Laws 1980, c. 165, § 8, eff. Oct. 1, 1980; Laws 1982, c. 194, § 6, emerg. eff. April 26, 1982; Laws 1984, c. 74, § 2, eff. Nov. 1, 1984; Laws 1991, c. 43, § 10, eff. July 1, 1993; Laws 1992, c. 94, § 6, eff. July 1, 1993; Laws 1994, c. 149, § 4, eff. July 1, 1995; Laws 1996, c. 159, § 3, eff. Nov. 1, 1996; Laws 1998, c. 60, § 18, eff. Jan. 1, 1999; Laws 1999, c. 26, § 2, eff. Nov. 1, 1999; Laws 1999, c. 194, § 14, eff. Nov. 1, 2000; Laws 2001, c. 235, § 5, eff. Aug. 1, 2001; Laws 2008, c. 274, § 5, eff. Nov. 1, 2008; Laws 2019, c. 66, § 1, eff. Nov. 1, 2019.
Footnotes
Title 60, § 831 et seq.
59 Okl. St. Ann. § 858-312, OK ST T. 59 § 858-312
Current with emergency effective legislation through Chapter 295 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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