57-11-14. Revocation, suspension, or denial of registration -- Grounds -- Suspension or revocation of license.

479 words·~2 min read·/ut/title-57/chapter-11/57-11-14

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)If the division makes a written finding of fact that a subdivider engages in one or more acts described in Subsection (1)(b) , the division may:

(i)deny an application for registration;

(ii)revoke, suspend, or deny reissuance of a registration; or

(iii)impose a civil penalty not to exceed the greater of:

(A)$2,500 for each violation; or

(B)the amount of any gain or economic benefit derived from each violation.

(b)Subsection (1)(a) applies if the division makes a written finding of fact that a subdivider:

(i)fails to comply with the terms of a cease and desist order;

(ii)is convicted in a court prior or subsequent to the filing of the application for registration of a crime involving:

(A)fraud;

(B)deception;

(C)false pretenses;

(D)misrepresentation;

(E)false advertising; or

(F)dishonest dealing in real estate transactions;

(iii)is subject to an injunction or administrative order restraining a false or misleading promotional plan involving land dispositions;

(iv)disposes of, conceals, or diverts funds or assets of any person so as to defeat the rights of subdivision purchasers;

(v)fails to perform faithfully a stipulation or agreement made with the division as an inducement to:

(A)grant a registration;

(B)reinstate a registration;

(C)revoke a cease and desist order; or

(D)approve any promotional plan or public offering statement;

(vi)makes an intentional misrepresentation, or conceals a material fact, in an application for registration;

(vii)violates this chapter or the rules adopted under this chapter;

(viii)directly or through an agent or employee knowingly engages in false, deceptive, or misleading advertising, promotional, or sales methods to offer or dispose of an interest in subdivided lands;

(ix)engages in the offering of subdivided lands that has constituted or that may constitute a fraud upon purchasers or prospective purchasers of the subdivided lands; or

(x)engages in a dishonest practice in any industry involving sales to consumers.

(c)The division shall accompany with a finding of fact required by this Subsection

(1)a concise and explicit statement of the underlying facts supporting the finding.

(2)As an alternative to revoking the registration of a subdivider, the director may issue a cease and desist order if after notice and a hearing the director finds that the subdivider is guilty of a violation for which revocation may be ordered.

(a)The division shall suspend or revoke the license of a principal broker, associate broker, or sales agent who violates this chapter for the period of time the director determines to be justified under the circumstances.

(b)A suspension or revocation under this section is in addition to any other penalty that may be imposed under this chapter, subject to Section 61-2f-404 .

Amended by Chapter 379 , 2010 General Session