Subject to Section 57-19-17, if the division finds that an applicant or salesperson has engaged in an act described in Subsection (2), the division may:
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Division: means the Division of Real Estate of the Department of Commerce. See Utah Code 57-19-2
Document: means every instrument in writing, including every conveyance, affecting, purporting to affect, describing, or otherwise concerning any right, title, or interest in real property, except wills and leases for a term not exceeding one year. See Utah Code 57-1-1
Fraud: Intentional deception resulting in injury to another.
for a development, an approved application for registration described in Section 57-19-5; or
(b)
for a salesperson, an approved application for registration described in Section 57-19-15. See Utah Code 57-19-2
Salesperson: means an individual who, for compensation and as agent for another, is engaged in obtaining commitments of persons to purchase an interest in a development by making direct sales presentations to those persons. See Utah Code 57-19-2
State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
Statute: A law passed by a legislature.
(a)
deny an application for registration as a salesperson;
(b)
suspend or revoke an existing registration; or
(c)
impose a civil penalty not to exceed $5,000.
(2)
Subsection (1) applies if the division finds that the applicant or salesperson:
(a)
files, or causes to be filed, with the division a document that contains untrue or misleading information;
(b)
makes an untrue or misleading statement of material fact;
(c)
fails to state a material fact that is necessary in order to make the statements made not misleading in light of the circumstances under which the statements are made;
(d)
employs a device, scheme, or artifice to defraud, or engages in an act, practice, or course of business that operates or would operate as a fraud or deceit upon a person;
(e)
subsequent to the effective date of registration as a salesperson, is:
(i)
convicted of:
(A)
a felony; or
(B)
a misdemeanor involving theft, fraud, or dishonesty; or
(ii)
enjoined from, assessed a civil penalty for, or found to have engaged in a violation of any law designed to protect consumers;
(f)
violates this chapter;
(g)
engages in an activity that constitutes dishonest dealing; or
(h)
engages in unprofessional conduct as defined by statute or rule made by the director.
