South Carolina Code 40-60-470. Disciplinary action for violations of this article
(1) commit an act in violation of this article;
Terms Used In South Carolina Code 40-60-470
- Appraisal: A determination of property value.
- appraisal: means of or pertaining to appraising and related functions including, but not limited to, appraisal practice and appraisal services. See South Carolina Code 40-60-20
- Board: means the South Carolina Real Estate Appraisers Board established pursuant to the provisions of this chapter. See South Carolina Code 40-60-20
- Fraud: Intentional deception resulting in injury to another.
- Real estate: means an identified parcel or tract of land including improvements, if any. See South Carolina Code 40-60-20
(2) violate a rule or regulation adopted by the board in the interest of the public and consistent with the provisions of this article;
(3) procure a registration, license, or certification by fraud, misrepresentation, or deceit; or
(4) violate the South Carolina Real Estate Appraisers Act or the federal Financial Institutions Reform Recovery and Enforcement Act of 1989.
(B) In addition to the sanctions provided in § 40-1-120, the board may impose a fine not to exceed ten thousand dollars for an initial violation and not to exceed twenty thousand dollars for subsequent violations and may require payment of investigative costs. A fine is payable immediately upon the effective date of discipline unless otherwise provided by the board. A registrant against whom a fine is levied is not eligible for reinstatement until the fine is paid in full.
(C) A decision by the board to publicly or privately reprimand, fine, revoke, suspend, or otherwise restrict a registrant or to limit or otherwise discipline a registrant becomes effective upon delivery of a copy of the decision to the registrant.
(D) Nothing in this section prevents a registrant from voluntarily entering into a consent agreement with the board in which a violation is not contested and a sanction is accepted.