018-6 Wyo. Code R. §§ 6-1 - Regulatory enforcement grounds

The Commission may take disciplinary action, which includes an administrative fine, censure, probation, suspension, or revocation, including a combination thereof, with respect to a licensee, for any of the following acts or conduct:

(a) Against a licensee and/or licensee's Responsible Broker for:

(i) Violating or failing to comply with any rule of the Commission or provision of the act;

(ii) Participating in real estate activity while a license is on inactive status;

(iii) Representing that a particular form or sales compensation rate has been approved by the Commission;

(iv) Violation or assisting in the violation of local, state or federal law or regulation;

(v) Using a form which does not describe the actual real estate transaction;

(vi) Making any false promise which influences, persuades, or induces action by another relating to a real estate transaction;

(vii) Failing to account for or to remit any moneys or documents coming into his possession which belong to others;

(viii) Commingling the money or property of others with his own;

(ix) Permitting the use of his license as a Responsible Broker to enable anyone to operate a real estate company without actual participation therein and control thereof by the Responsible Broker;

(x) Failing to provide information requested by the Commission relative to a complaint, investigation, or audit which could indicate a violation of the act;

(xi) Failing to disclose matters known to the licensee which are material to the real estate transaction;

(xii) Failing to notify sub-agents, multiple listing service or other interested parties when agency or non-agency has been terminated. Notice to multiple listing services shall constitute notice to all members thereof;

(xiii) Failing to remove signs and/or lock boxes after termination of a listing; continuing to advertise real estate which is no longer listed;

(xiv) Advertising and promoting another real estate company's or Responsible Broker's listings without written permission and in compliance with Section 4 of this chapter;

(xv) Failing to pay a fine imposed or comply with all requirements of a Commission settlement agreement, stipulation and order;

(xvi) Compensating any unlicensed person for performing the services of a licensee for any real estate activity except anyone arranging non-consecutive short-term rentals.

(xvii) Failing to obtain and maintain errors and omissions insurance and provide proof of insurance to the Commission.

(xviii) Falsifying attendance and/or completion of required and elective education for licensure;

(xix) Failing to disclose the names of all real estate companies within all real estate transactions if the Responsible Broker holds a license for more than one (1) real estate company, per W.S. 33-28-111(a)(xxix)(D);

(xx) Procuring a license to practice pursuant to the Wyoming Real Estate Act by knowingly making a false statement, submitting false information, refusing to provide complete information in response to a question in an application for a license or through any form of fraud or misrepresentation;

(xxi) Participating, engaging, or assisting in a real estate transaction wherein all parties to the transaction are customers and no written agency or intermediary relationship is established.

(b) Unless approved by the Commission, the voluntary surrender, expiration or lapse of a license by a licensee does not prevent the Commission from proceeding with its investigation of a complaint and taking appropriate disciplinary action against a licensee.

Notes

018-6 Wyo. Code R. §§ 6-1

Amended, Eff. 5/12/2015. Amended, Eff. 4/16/2018.