§1455. Causes for
censure, suspension, or revocation of license,
registration, or certification
A. The commission may censure a
licensee, registrant, or certificate holder or
conditionally or unconditionally suspend or revoke any
license, registration, or certificate issued under
this Chapter, levy fines or impose civil penalties not
to exceed five thousand dollars, or impose continuing
education requirements on licensees, registrants, or
certificate holders if, in the opinion of the
commission, a licensee, registrant, or certificate
holder is performing or attempting to perform or has
performed or has attempted to perform any of the
following acts:
(1) Committing
any act in violation of the Louisiana Real Estate
License Law not specified in this Section.
(2) Violating
any rule or regulation promulgated by the commission
in the interest of the public and consistent with the
provisions of this Chapter.
(3) Committing
any act in violation of the Louisiana Timesharing Act.
(4) Failure to
account for any money coming into his possession
belonging to others.
(5) Failure to
properly disburse money which belongs to others upon
its coming into his possession.
(6)
Commingling the money or other property of his
principals with his own.
(7) Accepting,
giving, or charging any undisclosed commission,
rebate, or direct profit on expenditures made for a
principal.
(8)
Representing or attempting to represent a real estate
broker or real estate agency other than the licensed
broker or agency listed on the real estate license
issued by the commission.
(9) Acting in
the dual capacity of agent and undisclosed principal
in any transaction. However, such a relationship shall
not constitute dual agency if the licensee is the
seller or lessor of property that he owns or if the
property is owned by a real estate business of which
the licensee is the sole proprietor and agent and the
same is disclosed to the buyer or tenant.
(10)
Guaranteeing or authorizing any person to guarantee
future profits which may result from the resale of
real property.
(11) Offering
real estate for sale or lease without the written
consent of the owner or his authorized agents.
Undivided real estate may be offered for sale or lease
with the written consent of the owner of the property
to be sold or leased as to his undivided portion of
the property.
(12) Offering
real estate for sale or lease on terms other than
those authorized by the owner or his authorized agent.
(13) Offering
any inducement to or in any way encouraging a party to
a written contract involving the sale, lease, or
management of real estate to break such contract for
the purpose of substituting, in lieu thereof, a new
contract with another principal or licensee.
(14)
Negotiating the sale, exchange, lease, or management
of real estate directly with an owner or lessor of the
real estate if he knows that such owner or lessor has
a written outstanding contract in connection with such
real estate granting an exclusive agency or an
exclusive right to sell, exchange, lease, or manage
the real estate to another broker.
(15) Knowingly
making any false representations to any party in a
real estate transaction.
(16) Acting
for more than one party in a real estate transaction
without the written acknowledgment of all parties to
the transaction.
(17) Failure
by an associate broker or salesperson to place, as
soon after receipt as practicable, in the custody of
his licensed broker any deposit money or other money
or funds entrusted to him by any person dealing with
him as the representative of his licensed broker or in
connection with any transaction involving the sale,
lease, or management of real property.
(18)
Representing to any lender, guaranteeing agency, or
any other interested party, either verbally or through
the preparation of false documents, an amount in
excess of the true and actual sale price of the real
estate or terms differing from those actually agreed
upon.
(19) Knowingly
permitting a sponsored licensee to operate as an
individual real estate broker.
(20) Knowingly
permitting a sponsored licensee or an employee to
conduct real estate activities in violation of this
Chapter.
(21) Failure
of a licensee to provide the parties to a real estate
transaction with an agency disclosure informational
pamphlet and, where applicable, a dual agency
disclosure form.
(22) Failure
to advise all parties to a real estate transaction in
writing of compensation being received from any source
in connection with that real estate transaction.
(23) Failure
without just cause to surrender unto the rightful
owner, upon demand, any document or instrument
received by a licensee or registrant in the course of
a real estate transaction.
(24) Accepting
other than cash as earnest money or good faith deposit
unless that fact is communicated to the owner prior to
the acceptance of the offer to purchase, and such fact
is shown on the face of the purchase and sale
agreement.
(25) Failure
of a licensee to inform the buyer and seller at the
time an offer is presented that either party may be
expected to pay certain costs such as discount points,
etc. and the approximate amount of said costs.
(26) Failure
to reduce a bona fide offer to writing when a proposed
purchaser requests that a written offer be submitted.
(27) Failure
to disclose to a buyer a known material defect
regarding the condition of real estate of which a
broker, salesperson, or timeshare interest salesperson
has knowledge.
(28) Having
been finally adjudicated and found guilty for
refusing, because of race, color, national origin,
sex, or ethnic group, to show, sell, or rent any real
estate for sale or rent to qualified purchasers or
renters or for any violation of the Fair Housing Act
of 1968 or the Louisiana Equal Housing Opportunity
Act1 and/or any amendments thereto or any successor
legislation subsequently following.
(29) Having
been convicted of a felony or entered a plea of guilty
or nolo contendere to a felony charge.
(30) Refusing
to appear or testify under oath at any hearing held by
the commission.
(31) Procuring
a license, registration, or certificate for himself or
anyone else by fraud, misrepresentation, or deceit.
(32) Failure
to comply with an order or consent order issued or
approved by the commission pursuant to adjudicatory
proceedings.
