12 AAC 64.325 - Findings and conclusions
(a) After
consideration of a claim, the commission will make written findings and
conclusions in accordance with the provisions of
AS
08.88.465.
(b) The claimant may not receive payment of a
claim unless the commission finds that
(1)
the clamant filed a claim that complies with
12 AAC 64.285 within the time
limit provided under
AS
08.88.460;
(2) the court judgment, arbitration award, or
settlement agreement with a licensee submitted by the claimant is no longer
subject to appeal and establishes that the clamant suffered a loss in the
manner described in
AS
08.88.460(a); and
(3) the clamant used due diligence to collect
the amount due under the court judgment, arbitration award, or settlement
agreement and that the amount due is uncollectable using reasonable
efforts.
(c) The
commission will furnish a copy of its findings and conclusions to
(1) the claimant;
(2) the claimant's legal representative, if
applicable;
(3) each licensee named
in the claim;
(4) the licensee's
legal representative, if applicable; and
(5) real estate broker supervising an
involved licensee at the time the commission makes its written findings and
conclusions, if applicable.
(d) If interest is ordered to be paid on a
claim of less than $15,000, the interest will be calculated from the date of
loss until the date of payment of the claim. Total payment from the fund will
not exceed $15,000 per transaction, whether principal or a combination of
principal and interest.
(e) When
the commission awards payment of a claim from the real estate recovery fund,
the following information will be added to the license file of each licensee
named in the findings and conclusions as responsible for the loss:
(1) a copy of the findings and conclusions
and the order adopted by the commission;
(2) proof of payment from the real estate
recovery fund to the claimant.
(f) If, as a result of the commission's
findings and conclusions, the commission suspends a licensee's license, the
commission will require proof of reimbursement of the real estate recovery fund
by the licensee or an agreement between the licensee and the commission on the
terms and conditions for reimbursing the real estate recovery fund under
AS
08.88.071(b) before
reinstating the license. The proof of reimbursement or agreement for
reimbursement will be added to the licensee's license file.
Notes
Authority:AS 08.88.071
AS 08.88.081
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