Iowa Administrative Code
Agency 193E - REAL ESTATE COMMISSION
Chapter 21 - ENFORCEMENT PROCEEDINGS AGAINST UNLICENSED PERSONS
Rule 193E-21.1 - Civil penalties against unlicensed persons

Universal Citation: IA Admin Code 193E-21.1

Current through Register Vol. 46, No. 19, March 20, 2024

(1) Commission authority. The commission is authorized to issue a cease and desist order and to impose a civil penalty of up to the greater of $10,000 or 10 percent of the real estate sale price against any person who is not licensed by the commission but who acts in the capacity of a real estate broker or salesperson, pursuant to Iowa Code section 543B.34.

(2) Unlicensed person. An "unlicensed person" includes any individual or business entity that has never been licensed by the commission, has voluntarily surrendered a license issued by the commission, or has allowed a license issued by the commission to lapse and the time in which the license could have been reinstated pursuant to rule 193E-3.6 (272C,543B) or 193E-4.6 (272C,543B) has passed.

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