(a) A registration may be revoked after notice and hearing upon a written finding of fact that the subdivider has

contract signature

Need help reviewing a real estate contract?
Have it reviewed by a lawyer, get answers to your questions and move forward with confidence.
Connect with a lawyer now

Terms Used In Alaska Statutes 34.55.026

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • department: means Department of Commerce, Community, and Economic Development. See Alaska Statutes 34.55.044
  • Fraud: Intentional deception resulting in injury to another.
  • person: means an individual, corporation, government, or governmental subdivision or agency, business trust, estate, trust, partnership, unincorporated association, two or more of any of them having a joint or common interest, or any other legal or commercial entity. See Alaska Statutes 34.55.044
  • subdivider: means an owner of subdivided land who offers it for disposition or the principal agent of an inactive owner. See Alaska Statutes 34.55.044
(1) failed to comply with the terms of a cease and desist order;
(2) been convicted in a court subsequent to the filing of the application for registration for a crime involving fraud, deception, false pretenses, misrepresentation, false advertising, or dishonest dealing in real estate transactions;
(3) disposed of, concealed, or diverted funds or assets of any person so as to defeat the rights of subdivision purchasers;
(4) failed faithfully to perform a stipulation or agreement made with the department as an inducement to grant a registration, to reinstate a registration, or to approve a promotional plan or public offering statement;
(5) made intentional misrepresentations or concealed material facts in an application for registration.
(b) The findings of fact, if set out in statutory language, must be accompanied by a concise and explicit statement of the underlying facts supporting the findings.
(c) If the department finds after notice and hearing that the subdivider has been guilty of a violation for which revocation could be ordered, it may issue a cease and desist order instead.
  Previous section
Next section  
 Chapter 55 Contents