South Carolina Code 40-57-710. Grounds for denial of issuance of license or for disciplinary action against licensee
(1) makes a substantial misrepresentation on an application for a real estate license;
Terms Used In South Carolina Code 40-57-710
- Conviction: A judgement of guilt against a criminal defendant.
- Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. Source: OCC
- Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. Source: OCC
- Fraud: Intentional deception resulting in injury to another.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
(2) makes a substantial misrepresentation involving a real estate transaction;
(3) makes false promises likely to influence, persuade, or induce;
(4) pursues a continued and flagrant course of misrepresentation or makes false and misleading promises through any medium of advertising or otherwise;
(5) in the practice of real estate, demonstrates bad faith, dishonesty, untrustworthiness, or incompetency in a manner as to endanger the interest of the public;
(6) represents a real estate broker other than the broker-in-charge or property manager-in-charge with whom they are licensed;
(7) guarantees or authorizes and permits an associated licensee to guarantee future profits from the resale of real estate;
(8) makes a dual set of contracts, written or otherwise, by stating a sales price other than the actual sales price;
(9) is convicted of violating the federal and state fair housing laws, forgery, embezzlement, breach of trust, larceny, obtaining money or property under false pretense, extortion, fraud, conspiracy to defraud, or has been convicted of a felony sex-related, felony drug-related, felony real estate-related, felony financial, or felony violent offense, or pleading guilty or nolo contendere to such an offense in a court of competent jurisdiction of this State, another state, or a federal court;
(10) fails to report to the commission in writing by certified mail, within ten days, notice of conviction of a crime provided in item (9);
(11) fails, within a reasonable time, to account for or to remit trust funds coming into his possession which belong to others;
(12) pays a commission or compensation to an unlicensed individual for activities requiring a license under this chapter. Notwithstanding this section, a licensee may not pay or offer to pay a referral fee or finder’s fee to an unlicensed individual who is not a party in the real estate sales or rental transaction;
(13) violates a provision of law relating to the freedom of a buyer or seller to choose an attorney, insurance agent, title insurance agent, or another service provider to facilitate the real estate transaction;
(14) fails to disclose in accordance with § 40-57-370 the party or parties for whom the licensee will be acting as an agent in a real estate transaction, if any;
(15) receives compensation in a real estate transaction or directly resulting from a real estate transaction from more than one party except with the full knowledge and written disclosure to all parties;
(16) represents more than one party in a real estate transaction without the full written knowledge and consent of all parties;
(17) acts as an undisclosed principal in a real estate transaction;
(18) accepts deposit money which is to be delivered to the licensee’s principal in a real estate transaction without informing the payor and having the payor acknowledge in writing who will hold the money received by the licensee;
(19) issues a check in connection with his real estate business which is returned for insufficient funds or closed account;
(20) fails to disclose in accordance with § 40-57-350 a known material fact concerning a real estate transaction;
(21) violates a provision of this chapter or a regulation promulgated under this chapter;
(22) violates a rule or order of the commission;
(23) knowingly gives false information to an investigator or inspector;
(24) engages in a practice or takes action inconsistent with the agency relationship that other real estate licensees have established with their clients;
(25) fails to make all records required to be maintained under this chapter available to the commission for inspection and copying by the commission upon request of an investigator of the commission, fails to appear for an interview with an investigator of the commission without due cause, or provides false information upon direct inquiry by the investigator or inspector;
(26) fails to promptly submit all offers and counteroffers in a real estate sales transaction;
(27) fails to provide current contact information to the commission;
(28) allows or creates an unreasonable delay in the closing of a transaction or act in a manner which causes failure or termination of a transaction due solely to a dispute among participating licensees concerning the division of a commission; or
(29) fails to disclose civil judgments brought on grounds of fraud, misrepresentation, or deceit.
(B) If after an investigation, charges of a violation are brought against a licensee, the broker-in-charge or property manager-in-charge must be notified of the charges.