reglab/housing_qa huggingface dataset:
AK Stat § 08.88.241 (2021)
2021 Alaska Statutes|Title 8. Business and Professions|Chapter 88. Real Estate Brokers and Other Licensees|Article 2. Licensing.|Sec. 08.88.241. Reinstatement of lapsed license.

(a) A person whose real estate license has lapsed less than 24 months is eligible for reinstatement of the license if the person provides the required application, license fees, proof of continuing education as required by AS 08.88.091 for licensing periods during which the license was inactive or lapsed, proof of completion of the educational requirements under AS 08.88.095(a), if applicable, and any fee required under AS 08.88.221(12). (b) A real estate licensee whose license has been lapsed for more than 24 months is not eligible for reinstatement of the license and is eligible for the license only by meeting the qualifications applicable to initial licensure under AS 08.88.171.
AK Stat § 08.88.251 (2021)
2021 Alaska Statutes|Title 8. Business and Professions|Chapter 88. Real Estate Brokers and Other Licensees|Article 2. Licensing.|Sec. 08.88.251. Inactive license.

(a) A real estate licensee who intends to become inactive shall return to the commission the person's license certificate and a completed inactivation form provided by the commission along with any applicable fees. The commission shall issue the person an inactive license certificate. A real estate licensee whose license lapses under AS 08.88.095(e) is not eligible for an inactive license under this subsection unless the license is reinstated under AS 08.88.241. (b) An inactive licensee may not attempt or offer to do any of the activities listed in AS 08.88.161, but may receive commissions or other payments from the broker who previously contracted with or employed the licensee for services performed while actively licensed. (c) A person who has an inactive license certificate under (a) of this section may reactivate the license by applying for an active license and paying the required fees. A person is eligible for change from an inactive to an active status under this subsection only if the person has been in inactive status for less than 24 months. If the person has been in inactive status for 24 months or for more than 24 months, the person is required to meet the requirements for initial licensure in order to be licensed under this chapter again. (d) A licensee may, subject to the approval of the commission, renew an inactive license for 24 months from the anniversary date of the issuance of the initial inactive license certificate under (a) of this section. (e) An active license that has been converted from inactive status under (c) of this section shall be issued for the remainder of the current 24-month period of the inactive license.
AK Stat § 08.88.263 (2021)
2021 Alaska Statutes|Title 8. Business and Professions|Chapter 88. Real Estate Brokers and Other Licensees|Article 3. Miscellaneous Provisions.|Sec. 08.88.263. License by endorsement.

A person who holds a valid active real estate license issued by another state shall be granted an equivalent Alaska real estate license if that person (1) passes the portion of the real estate examination which examines on state law; (2) meets the requirements of AS 08.88.171; and (3) satisfies the educational requirements under AS 08.88.095(a) if the person has not held the license issued by the other state for one year or more.
AK Stat § 08.88.281 (2021)
2021 Alaska Statutes|Title 8. Business and Professions|Chapter 88. Real Estate Brokers and Other Licensees|Article 3. Miscellaneous Provisions.|Sec. 08.88.281. Real estate recovery fund.

Before issuing a license to an applicant under this chapter, the commission shall ensure that the applicant has complied with the provisions of AS 08.88.455 and is covered by the real estate recovery fund established in AS 08.88.450.
AK Stat § 08.88.291 (2021)
2021 Alaska Statutes|Title 8. Business and Professions|Chapter 88. Real Estate Brokers and Other Licensees|Article 3. Miscellaneous Provisions.|Sec. 08.88.291. Location; contact information.

(a) A person licensed as a real estate broker shall, by registering with the commission, inform the commission of the person's principal office and of any branch offices of the person's real estate business and include in the information the names of the real estate licensees who are employed at each office. A real estate licensee may do real estate business only through a principal office or from a branch office registered by the broker by whom the licensee is employed. Failure of a real estate broker to maintain a place of business in the state or to inform the commission of its location and the names and addresses of all real estate licensees employed at each location by the broker is grounds for the suspension or revocation of the broker's license. (b) Each licensee under this chapter is responsible for ensuring that the commission has current contact information for the licensee for two years after the lapse, expiration, surrender, suspension, or revocation of the license. (c) In addition to the information provided under (a) of this section, a licensee shall provide the commission with a current mailing address and, if active, the address of the broker employing the licensee. (d) The commission shall mail all notices pertaining to a license or recovery fund action taken under this chapter or a regulation adopted under this chapter to the current address or addresses of a licensee obtained under this section. Proof of notice provided under this subsection satisfies due process notice requirements.
AK Stat § 08.88.301 (2021)
2021 Alaska Statutes|Title 8. Business and Professions|Chapter 88. Real Estate Brokers and Other Licensees|Article 3. Miscellaneous Provisions.|Sec. 08.88.301. Change of location.

Before a real estate broker changes the location of the broker's principal office or of a branch office, the broker shall notify the commission of the new address and any other office changes on a form provided by the commission and pay the applicable fees.
AK Stat § 08.88.305 (2021)
2021 Alaska Statutes|Title 8. Business and Professions|Chapter 88. Real Estate Brokers and Other Licensees|Article 3. Miscellaneous Provisions.|Sec. 08.88.305. Multiple business operations.

A person licensed as a real estate broker may own, operate, or be employed by multiple corporations, partnerships, or other business organizations engaging in activities for which a license is required under this chapter, provided that each business organization is registered with the commission, and that the principal offices of all of the business organizations share a single physical address.
AK Stat § 08.88.311 (2021)
2021 Alaska Statutes|Title 8. Business and Professions|Chapter 88. Real Estate Brokers and Other Licensees|Article 3. Miscellaneous Provisions.|Sec. 08.88.311. Branch offices.

(a) A branch office shall be under the direct supervision of a real estate associate broker whose principal place of business is that office and who is licensed under this chapter. An associate broker may serve in the capacity of direct supervisor at only one office. (b) A branch office shall bear and be advertised only in the name of the principal office but may also indicate that it is a branch office.
AK Stat § 08.88.321 (2021)
2021 Alaska Statutes|Title 8. Business and Professions|Chapter 88. Real Estate Brokers and Other Licensees|Article 3. Miscellaneous Provisions.|Sec. 08.88.321. Possession and display of license certificates.

(a) The license certificate of a real estate broker shall be displayed in the broker's principal office. (b) The license certificate of each licensee working in the broker's principal office shall be displayed in that office. (c) The license certificate of the designated associate broker who is in charge of a branch office and the certificate of each licensee working in a branch office shall be displayed in the branch office indicated as the office of the licensees' employment in the registration required under AS 08.88.291. (d) Certificates displayed under this section must be displayed where they are available for public clients and customers to verify the current active status of licensees working in the office.
AK Stat § 08.88.331 (2021)
2021 Alaska Statutes|Title 8. Business and Professions|Chapter 88. Real Estate Brokers and Other Licensees|Article 3. Miscellaneous Provisions.|Sec. 08.88.331. Making of transactions.

An active real estate salesperson or associate real estate broker may perform activities for which a real estate license is required only through the real estate broker who employs or contracts with the licensee. All money or other proceeds collected in trust and related to a real estate transaction shall immediately be turned over to the broker or the broker's authorized representative.
AK Stat § 08.88.341 (2021)
2021 Alaska Statutes|Title 8. Business and Professions|Chapter 88. Real Estate Brokers and Other Licensees|Article 3. Miscellaneous Provisions.|Sec. 08.88.341. Listings or management contracts.

All real estate listings or management contracts must be in writing and must be signed by the broker or associated licensee of the broker and by the client or an authorized representative of the client for whose benefit the real estate licensee will act. All real estate exclusive listings or management contracts must have a definite expiration date that may be renewed or extended only by a written agreement signed by the client or the client's authorized representative.
AK Stat § 08.88.351 (2021)
2021 Alaska Statutes|Title 8. Business and Professions|Chapter 88. Real Estate Brokers and Other Licensees|Article 3. Miscellaneous Provisions.|Sec. 08.88.351. Accounts; records of transactions.

(a) A real estate broker shall (1) keep a complete record, for three years, of all real estate transactions in which the broker or employed licensees of the broker engaged; (2) provide upon request to any principal in a transaction an accounting for all money or other property collected or held in the course of each transaction; (3) keep a separate trust account in a bank into which the broker shall deposit all earnest money deposits, purchase money, security deposits, contingency funds, collected rental money, rental receipts, or other money collected in trust until it is appropriate for the broker to distribute the money to the proper persons; (4) if authorized by the board of directors of a community association to collect, control, or disburse association funds, keep a separate account in a financial institution for the funds; (5) make available to the commission, on request, account records and all other documents that the commission may require in order to conduct an investigation or to audit an account required under this section; (6) if records are delivered to a partnership, corporation, or business entity other than another licensed broker upon termination of employment, ensure by contract the maintenance and availability of those records for a minimum of three years in accordance with this section. (b) A real estate licensee (1) shall keep, for a minimum of three years, a complete record of all real estate transactions in which the licensee was a principal; (2) who maintains records concerning management or sale of the licensee's own properties or the licensee's client properties separate from the broker's file, shall retain those records for a minimum of three years; (3) shall make available to the commission, on request, records and other documents that the commission may require to conduct an investigation; (4) shall promptly deposit community association funds or proceeds from periodic community association assessments into either a community association reserve account or a community association operating account; if, at any time, the community association operating account contains more money than is estimated to be needed for budgeted expenditures for the subsequent three months, the licensee shall transfer the excess funds to the community association reserve account as soon as practicable; (5) may not commingle funds of a community association with funds of another community association or with the licensee's funds. (c) For the purposes of this section, the three-year requirement for records maintenance begins at the initiation of a transaction and continues, as applicable, until three years after the date (1) a listing agreement ends; (2) a sales transaction closes or otherwise ends; (3) a management contract ends; or (4) another contractual or fiduciary obligation ends.
AK Stat § 08.88.361 (2021)
2021 Alaska Statutes|Title 8. Business and Professions|Chapter 88. Real Estate Brokers and Other Licensees|Article 3. Miscellaneous Provisions.|Sec. 08.88.361. When commission is earned.

A commission is earned when the real estate broker fulfills the terms of a written personal services contract.
AK Stat § 08.88.381 (2021)
2021 Alaska Statutes|Title 8. Business and Professions|Chapter 88. Real Estate Brokers and Other Licensees|Article 3. Miscellaneous Provisions.|Sec. 08.88.381. Signs.

A real estate broker shall maintain a sign at each of the broker's registered real estate offices prominently showing the name of the real estate business as registered with the commission. The required size, content, and location of signs under this section may be determined by the commission under regulations. The regulations must allow signs in offices located on premises with more restrictive sign requirements than would otherwise be applicable under the commission's regulations to be considered to be in compliance with the regulations if the signs meet the requirements of the premises and the licensee submits a copy of the sign requirements of the premises to the commission.
AK Stat § 08.88.391 (2021)
2021 Alaska Statutes|Title 8. Business and Professions|Chapter 88. Real Estate Brokers and Other Licensees|Article 3. Miscellaneous Provisions.|Sec. 08.88.391. Conflict of interest.

(a) A real estate licensee who has a conflict of interest relating to a real estate transaction shall disclose that conflict of interest to the persons adversely affected by the conflict or their real estate licensees and confirm the conflict of interest in writing to the persons adversely affected by the conflict or their real estate licensees involved in the transaction as soon as possible after the conflict is identified. The licensee must also verbally advise the person of the conflict, and begin any written statement of the conflict of interest with these words, underlined and written in bold: “Disclosure of Conflict of Interest.” (b) The failure of a licensee to disclose a conflict of interest as required under this section does not give rise to a cause of action by a private person. However, the commission may, under AS 08.88.071, impose a disciplinary sanction for violation of this section. (c) In this section, “conflict of interest” is when a licensee (1) has a present ownership or leasehold interest in the property that is the subject of a transaction; (2) is whole or part owner of a business interest in the property being marketed or considered for purchase or lease; (3) represents a relative, as defined in AS 08.88.900(a)(19), or a person with whom the licensee has a financial relationship if the relative or person has a present financial interest in the property being marketed or considered for purchase or lease; (4) receives compensation from someone other than a party to the contract or another party having a financial interest in the transaction; or (5) receives compensation for community association management while simultaneously engaged as a property manager for a unit within the community association.
AK Stat § 08.88.398 (2021)
2021 Alaska Statutes|Title 8. Business and Professions|Chapter 88. Real Estate Brokers and Other Licensees|Article 3. Miscellaneous Provisions.|Sec. 08.88.398. Licensed assistants.

A licensed real estate salesperson or licensed associate real estate broker may act as a licensed assistant to another licensed salesperson or associate real estate broker only if (1) the licensed assistant and the salesperson or associate broker are both employed by the same broker; (2) the licensed assistant is not employed to perform activities requiring licensure under this chapter for more than one licensed real estate broker; (3) the employment arrangement between the licensed assistant and the salesperson or associate real estate broker is in writing and conforms to the applicable state and federal regulations regarding employment; (4) the employment of the licensed assistant is approved in writing by the broker who employs both the salesperson or associate real estate broker and the licensed assistant; (5) the salesperson or associate real estate broker who employs the licensed assistant agrees to be responsible for paying the licensed assistant's wages and appropriate taxes and completing the appropriate state and federal tax forms; and (6) the broker of the salesperson or associate real estate broker who employs the licensed assistant agrees to be liable for the actions of the licensed assistant.
AK Stat § 08.88.403 (2021)
2021 Alaska Statutes|Title 8. Business and Professions|Chapter 88. Real Estate Brokers and Other Licensees|Article 3. Miscellaneous Provisions.|Sec. 08.88.403. Review of transactions.

A real estate broker may contract with and pay an attorney or associate broker to assist the broker to review a real estate transaction before the transaction closes.
AK Stat § 08.88.405 (2021)
2021 Alaska Statutes|Title 8. Business and Professions|Chapter 88. Real Estate Brokers and Other Licensees|Article 3. Miscellaneous Provisions.|Sec. 08.88.405. Preparation of documents.

Notwithstanding AS 08.08, a person licensed as a real estate broker, associate real estate broker, or real estate salesperson under this chapter may prepare real property contracts, earnest money agreements, leases, and other documents related to real property if the documents are prepared by the person in the course of the person's work as a licensed real estate broker, associate real estate broker, or real estate salesperson under this chapter.
AK Stat § 08.88.450 (2021)
2021 Alaska Statutes|Title 8. Business and Professions|Chapter 88. Real Estate Brokers and Other Licensees|Article 4. Real Estate Recovery Fund.|Sec. 08.88.450. Real estate recovery fund.

(a) The real estate recovery fund is established in the general fund to carry out the purposes of AS 08.88.450 - 08.88.495. The fund is composed of payments made by real estate licensees under AS 08.88.455, filing fees retained under AS 08.88.460, income earned on investment of the money in the fund, and money deposited in the fund under (c) of this section. Money in the fund does not lapse. The commission may make payments from the fund for awards from the fund under AS 08.88.450 - 08.88.495, for hearing and legal expenses directly related to fund operations and claims, and for real estate educational purposes. (b) The Department of Commerce, Community, and Economic Development shall provide the commission every three months with a statement of the activities of, balances in, interest earned on, and interest returned to the real estate recovery fund. (c) If money from the real estate recovery fund is expended to prepare, print, manufacture, sponsor, produce, or otherwise provide an item or a service to a member of the public, to a real estate licensee, to a potential real estate licensee, or to another person, any money paid by the person to the commission, either directly or through an agent or contractor of the commission, to receive the item or service shall be deposited in the fund. In this subsection, “an item or a service” includes an information pamphlet, an examination preparation packet, an educational course, the certification of a real estate education course, and the approval of a real estate education instructor.
AK Stat § 08.88.455 (2021)
2021 Alaska Statutes|Title 8. Business and Professions|Chapter 88. Real Estate Brokers and Other Licensees|Article 4. Real Estate Recovery Fund.|Sec. 08.88.455. Payments by real estate licensees.

(a) A real estate licensee, when applying for or renewing a real estate license, in lieu of obtaining a corporate surety bond, shall pay to the commission, in addition to the license fee, a recovery fund fee not to exceed $125. After each two-year licensing cycle, if the commission finds that the average balance in the recovery fund during the two-year licensing cycle was less than $250,000 or more than $500,000, the commission shall by regulation adjust the recovery fund fees so that the average balance of the recovery fund during the next two-year licensing cycle is anticipated to be an amount that is not less than $250,000 or more than $500,000. In this subsection, “average balance” means the average balance after taking into account anticipated expenditures for awards from the fund and legal expenses directly related to fund operations, and for real estate educational purposes. (b) All fees collected under this section shall be paid at least once a month by the department into the general fund. These payments shall be credited to the real estate recovery fund.
AK Stat § 08.88.460 (2021)
2021 Alaska Statutes|Title 8. Business and Professions|Chapter 88. Real Estate Brokers and Other Licensees|Article 4. Real Estate Recovery Fund.|Sec. 08.88.460. Claim for payment.

(a) Subject to (e) of this section, a person seeking an award from the recovery fund for a loss suffered in a real estate transaction as a result of fraud, an intentional tort, deceit, or the conversion of trust funds or the conversion of community association accounts under the control of a community association manager on the part of a person licensed under this chapter shall (1) obtain a final judgment from a court of competent jurisdiction, a final arbitration award, or a settlement agreement with a licensee that involves a person committing fraud, an intentional tort, deceit, the conversion of trust funds, or the conversion of community association accounts; (2) submit an affidavit describing the efforts made to collect the final judgment, final arbitration award, or settlement agreement stating that the person has used due diligence to collect the amount due, stating that the judgment, arbitration award, or settlement agreement is uncollectable using reasonable efforts, and that the conduct that is the subject of the judgment, arbitration award, or settlement agreement involved an activity for which a person must obtain a license under AS 08.88.161; (3) make a claim to the commission for an award from the recovery fund on a form furnished by the commission; in order to be eligible for an award by the commission, the claim form must be filed within two years after the date a judgment, arbitration award, or settlement agreement that is the basis for the award from the recovery fund is no longer subject to appeal; the form must be executed under penalty of unsworn falsification in the second degree and must include (A) the name and address of each real estate licensee involved; (B) a copy of the final judgment, final arbitration award, or settlement agreement; (C) a copy of the affidavit asserting due diligence but lack of success in collecting the entire amount due; (D) the amount of the final judgment, final arbitration award, or settlement agreement that remains unpaid; (E) the name and address of the claimant; and (F) a general statement of facts relative to the claim. (b) The commission shall send a copy of a claim filed under (a) of this section to each real estate licensee named in (a)(3) of this section. (c) [Repealed, § 24 ch 113 SLA 2008.] (d) A claimant under this section shall pay a filing fee of $250 to the commission at the time the claim is filed. The filing fee shall be refunded if the (1) commission makes an award to the claimant from the real estate recovery fund; or (2) claimant withdraws the claim. (e) If the claim is for a loss incurred as a result of acts or omissions occurring in the course of the licensee's practice of community association management, only the owners' association for which the real estate licensee practices community association management may file a claim under this section.