Okla. Stat. tit. 59, § 59-858-402

This is the official text of Okla. Stat. tit. 59, § 59-858-402, part of Oklahoma’s Stat. tit. 59, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 59,." Browse the sections below, each linked to its official government source.

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Administrative fines

Official statutory text

A. The Oklahoma Real Estate Commission may impose

administrative fines on any licensee licensed pursuant to The

Oklahoma Real Estate License Code as follows:

1. Any administrative fine imposed as a result of a violation

of this Code or the rules of the Commission shall not:

a. be less than One Hundred Dollars ($100.00) and shall

not exceed Two Thousand Dollars ($2,000.00) for each

violation of this Code or the rules of the Commission,

or

b. exceed Five Thousand Dollars ($5,000.00) for all

violations resulting from a single incident or

transaction;

2. All administrative fines shall be paid within thirty (30)

days of notification of the licensee by the Commission of the order

of the Commission imposing the administrative fine;

3. The license may be suspended until any fine imposed upon the

licensee by the Commission is paid;

4. If fines are not paid in full by the licensee within thirty

(30) days of the notification by the Commission of the order, the

fines shall double and the licensee shall have an additional thirty-

day period. If the doubled fine is not paid within the additional

thirty-day period, the license shall automatically be revoked; and

Oklahoma Statutes - Title 59. Professions and Occupations Page 735

5. All monies received by the Commission as a result of the

imposition of the administrative fine provided for in this section

shall be deposited in the Oklahoma Real Estate Education and

Recovery Fund, created pursuant to Section 858-601 of this title.

B. The administrative fines authorized by this section may be

in addition to any other criminal penalties or civil actions

provided for by law.

Status: in_force · Read it on the official government site

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