§ 17-42-505 — Civil penalties - Jurisdiction

(a) If after notice and a hearing under this subchapter and the Arkansas Administrative Procedure Act, § 25-15-201 et seq., the Arkansas Real Estate Commission finds that a person has offered a nonqualified offering, the commission may impose a civil penalty of no more than five thousand dollars ($5,000) and assess costs against the person. (b) The fact that a person offers to provide or provides a course offering without the appropriate license or course approval from the commission is prima facie evidence that the person is offering a nonqualified offering. (c) In addition to civil penalties imposed under this section, the commission may require a person who offered a nonqualified offering to reimburse compensation, fees, or other remuneration collected for the nonqualified offering.

Legislative History

Amended by Act 2013, No. 281,§ 3, eff. 8/16/2013. Acts 1993, No. 690, § 23; 1995, No. 1285, § 4.