reglab/statecodes huggingface dataset:
2023 Alaska Statutes › Title 8. Business and Professions › Chapter 87. Real Estate Appraisers › Article 3. Real Estate Appraisal Management Companies. › Sec. 08.87.155. Reporting requirements for federally regulated real estate appraisal management companies.

(a) A real estate appraisal management company that is owned and controlled by an insured depository institution as defined in 12 U.S.C. 1813 and regulated by the United States Comptroller of the Currency, the Board of Governors of the Federal Reserve System, or the Federal Deposit Insurance Corporation, shall annually submit to the board information that the board is required to submit to the Appraisal Subcommittee established under 12 U.S.C. 3310, including a
(1) report of intent to operate in the state; and
(2) disclosure of whether the company is directly or indirectly owned in whole or in part by any person that has had a certificate to act as a real estate appraiser denied, cancelled, suspended, revoked, put on probation, or surrendered in lieu of a pending revocation in any state.
(b) If a person has had disciplinary action taken against the person under (a)(2) of this section, the board shall collect information related to whether the certificate to act as a real estate appraiser was denied, cancelled, suspended, revoked, put on probation, or surrendered in lieu of a pending revocation for a substantive cause and whether the person has later had the certificate to act as a real estate appraiser reinstated by the same state.
2023 Alaska Statutes › Title 8. Business and Professions › Chapter 87. Real Estate Appraisers › Article 3. Real Estate Appraisal Management Companies. › Sec. 08.87.160. Exemptions.

AS 08.87.130 - 08.87.150, 08.87.215, and 08.87.220 do not apply to a
(1) person who is employed by a department or division of an entity that provides appraisal management services only to that entity;
(2) real estate appraisal management company that is
(A) owned and controlled by an insured depository institution; and
(B) regulated by the Consumer Financial Protection Bureau, the Federal Housing Finance Agency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the United States Comptroller of the Currency, or the National Credit Union Administration; or
(3) real estate appraiser who enters into an agreement with another real estate appraiser for the performance of an appraisal that upon completion results in a report signed by both the real estate appraiser who completed the appraisal and the real estate appraiser who requested completion of the appraisal.
2023 Alaska Statutes › Title 8. Business and Professions › Chapter 87. Real Estate Appraisers › Article 4. Prohibited Practices and Disciplinary Proceedings. › Sec. 08.87.200. Prohibited practices.

A certified real estate appraiser may not
(1) act negligently or incompetently or fail without good cause to exercise reasonable diligence in developing an appraisal, preparing an appraisal report, or communicating an appraisal;
(2) wilfully disregard or violate a provision of this chapter or of a regulation adopted by the board under this chapter;
(3) fail to comply with the Uniform Standards of Professional Appraisal Practice adopted by the Appraisal Standards Board of the Appraisal Foundation;
(4) accept a fee for an appraisal assignment that is contingent upon the appraiser reporting a predetermined estimate, analysis, or opinion or upon the opinion, conclusion, or valuation reached, or upon the consequences resulting from the appraisal assignment;
(5) knowingly make a false statement, submit false information, or fail to provide complete information in response to a question in an application for certification or for renewal of a certificate; or
(6) violate the confidential nature of government records to which the person gains access through retention as an appraiser by the government agency.
2023 Alaska Statutes › Title 8. Business and Professions › Chapter 87. Real Estate Appraisers › Article 4. Prohibited Practices and Disciplinary Proceedings. › Sec. 08.87.210. Disciplinary proceedings.

The board may exercise its disciplinary powers under AS 08.01.075 if, after hearing, the board finds a certified real estate appraiser has
(1) violated a provision of this chapter or a regulation adopted by the board under this chapter;
(2) been convicted of a crime that involves moral turpitude; or
(3) committed, while acting as a real estate appraiser, an act or omission involving dishonesty, fraud, or misrepresentation with the intent to benefit the appraiser or another person or to injure another person.
2023 Alaska Statutes › Title 8. Business and Professions › Chapter 87. Real Estate Appraisers › Article 4. Prohibited Practices and Disciplinary Proceedings. › Sec. 08.87.215. Prohibited practices; real estate appraisal management companies.

(a) A real estate appraisal management company may not, while registered in the state, retain or enter into a business relationship with an employee, contractor, or agent whose certificate to act as a real estate appraiser is denied, cancelled, suspended, revoked, put on probation, or surrendered in lieu of a pending revocation in any state unless the employee, contractor, or agent has later had a certificate to act as a real estate appraiser granted or reinstated by the same state.
(b) A real estate appraisal management company or a controlling person, employee, director, officer, or agent of a real estate appraisal management company may not
(1) seek to influence a real estate appraiser through intimidation, coercion, extortion, or bribery;
(2) condition payment of an appraisal fee on a real estate appraiser's opinion, conclusion, or valuation;
(3) request that a real estate appraiser report a predetermined opinion, conclusion, or valuation;
(4) alter, amend, or change an appraisal report submitted by a real estate appraiser without the real estate appraiser's written consent;
(5) require a real estate appraiser to sign an indemnification agreement for a claim that does not arise from a service performed by the real estate appraiser;
(6) prohibit an appraiser from recording in the body of the report submitted by the appraiser to the appraisal management company the fee that the appraiser was paid by the company for the performance of the appraisal;
(7) prohibit lawful communication between a real estate appraiser and any other person who the real estate appraiser determines possesses information relevant to the appraisal;
(8) engage in an act or practice with intent to impair a real estate appraiser's independence, objectivity, and impartiality;
(9) knowingly make a false statement, submit false information, or fail to provide complete information in response to a question in an application for registration or renewal of a registration; or
(10) violate this chapter or a regulation adopted under this chapter.
2023 Alaska Statutes › Title 8. Business and Professions › Chapter 87. Real Estate Appraisers › Article 4. Prohibited Practices and Disciplinary Proceedings. › Sec. 08.87.220. Disciplinary proceedings; real estate appraisal management companies.

The board may take disciplinary action under AS 08.01.075 or suspend or revoke a registration of a real estate appraisal management company if it finds that the
(1) company or a controlling person, employee, director, officer, or agent of a real estate appraisal management company has violated a provision of this chapter or a regulation adopted by the board under this chapter;
(2) company or a controlling person of the company has had a certificate to act as a real estate appraiser or a registration as a real estate appraisal management company denied, cancelled, suspended, revoked, put on probation, or surrendered in lieu of a pending revocation in any state;
(3) company fails to comply with the Uniform Standards of Professional Appraisal Practice under 12 U.S.C. 3339;
(4) company performs appraisal management services in a manner that causes injury or loss to the public;
(5) company has ceased to operate in the state as a real estate appraisal management company; or
(6) company used fraud, deception, misrepresentation, or bribery in securing a registration under this chapter.
2023 Alaska Statutes › Title 8. Business and Professions › Chapter 87. Real Estate Appraisers › Article 5. General Provisions. › Sec. 08.87.300. Retention of records.

(a) A certified real estate appraiser shall retain copies of all written contracts engaging the appraiser's services for real property appraisal work, and all reports and supporting data assembled and formulated by the appraiser in preparing the reports, for at least five years after the date of the contract engaging the appraiser's services, five years after the date of the submittal of the appraisal reports to the client, or at least two years after the final disposition of litigation in which the appraiser provided testimony related to the engagement, whichever is longer.
(b) [Repealed, § 9 ch 42 SLA 2014.]
(c) All records that a certified appraiser must maintain under (a) of this section shall be made available to the board or department for inspection and copying upon reasonable notice to the appraiser.
2023 Alaska Statutes › Title 8. Business and Professions › Chapter 87. Real Estate Appraisers › Article 5. General Provisions. › Sec. 08.87.310. Trainee appraiser; supervisory appraiser.

The board may establish requirements for trainee appraisers and supervisory appraisers. The board shall ensure that the requirements conform with 12 U.S.C. 3345.
2023 Alaska Statutes › Title 8. Business and Professions › Chapter 87. Real Estate Appraisers › Article 5. General Provisions. › Sec. 08.87.320. Actions by uncertified real estate appraisers prohibited.

A person may not bring an action in a court of this state for compensation for an act done or service rendered as a certified real estate appraiser if the person did not hold a certificate under this chapter at the time that the person performed the act or service or offered to perform the act or service.
2023 Alaska Statutes › Title 8. Business and Professions › Chapter 87. Real Estate Appraisers › Article 5. General Provisions. › Sec. 08.87.340. Appraisals by uncertified appraisers permitted.

Nothing in this chapter precludes a person who is not certified as a real estate appraiser from appraising real estate for compensation if the person does not hold out to be a certified appraiser and if appraisal by a certified appraiser is not required by federal law.
2023 Alaska Statutes › Title 8. Business and Professions › Chapter 88. Real Estate Brokers and Other Licensees › Article 1. Real Estate Commission. › Sec. 08.88.031. Executive secretary of commission.

The department shall, after consultation with the commission, employ a person, who is not a member of the commission, to serve as executive secretary for the commission. The executive secretary shall perform duties as assigned by the commission and may use the title “executive administrator” when performing the duties.
2023 Alaska Statutes › Title 8. Business and Professions › Chapter 88. Real Estate Brokers and Other Licensees › Article 1. Real Estate Commission. › Sec. 08.88.037. Investigation and injunction.

(a) The commission may request the department to conduct investigations to determine whether a person has violated a provision of this chapter or a regulation adopted under it, or to secure information useful in the administration of this chapter.
(b) If it appears to the department that a person has engaged in or is about to engage in an act or practice in violation of a provision of this chapter or a regulation adopted under it and that action is warranted in the public interest, the department shall notify all commission members by telephone or facsimile of a proposed order or action, and, if a majority of the members of the commission approve, the department may
(1) after reasonable notice of and an opportunity for a hearing is given to the person, issue an order directing the person to stop the act or practice; the department may issue a temporary order before a hearing is held; a temporary order remains in effect until a final order affirming, modifying, or reversing the temporary order is issued or until 15 days have elapsed after the person receives the notice and has not requested a hearing; a temporary order becomes final if the person to whom the notice is addressed does not request a hearing within 15 days after receiving the notice; if a hearing is requested, a hearing shall be conducted by a hearing officer within 30 days; the commission shall issue a final order within 10 days after the hearing;
(2) bring an action in superior court to enjoin the act or practice and to enforce compliance with this chapter, a regulation adopted under it, or an order issued under it;
(3) examine or have examined the books and records of a person whose business activities require licensure under this chapter and the department may require the person to pay the reasonable costs of the examination; and
(4) issue subpoenas for the attendance of witnesses, and the production of books, records, and other documents.
2023 Alaska Statutes › Title 8. Business and Professions › Chapter 88. Real Estate Brokers and Other Licensees › Article 1. Real Estate Commission. › Sec. 08.88.041. Qualifications of commission members.

(a) Five members of the commission must be real estate brokers or associate brokers who have been licensed real estate brokers or licensed associate brokers in the state for at least three years before appointment. Two members of the commission must be public members in accordance with AS 08.01.025.
(b) Of the five members of the commission who must be real estate brokers or associate brokers, one member shall be from the First Judicial District, one shall be from the Second Judicial District, one shall be from the Third Judicial District, one shall be from the Fourth Judicial District and one shall be from the state at large. However, if no licensed real estate broker or licensed associate broker is eligible or available for appointment from the Second Judicial District, then two licensed real estate brokers or licensed associate brokers shall be appointed from the state at large.
2023 Alaska Statutes › Title 8. Business and Professions › Chapter 88. Real Estate Brokers and Other Licensees › Article 1. Real Estate Commission. › Sec. 08.88.051. Commission meetings and officers.

(a) The commission shall hold a regular annual meeting. It may hold a special meeting at the call of the chairman or at the request of three commission members.
(b) At least two judicial districts shall be represented and at least a majority of the commission members shall be present in order to conduct business.
(c) The commission shall elect its officers at the first meeting of each fiscal year.
2023 Alaska Statutes › Title 8. Business and Professions › Chapter 88. Real Estate Brokers and Other Licensees › Article 1. Real Estate Commission. › Sec. 08.88.061. Assistants.

Notwithstanding contrary provisions of AS 08.01.050, the commission may assign or designate assistants to
(1) issue licenses to applicants who meet the qualifications for licensure established under this chapter;
(2) prepare questions on examinations;
(3) administer and grade examinations;
(4) certify courses required under this chapter;
(5) approve instructors to teach courses required under this chapter; and
(6) negotiate terms for payment of fines and other money due under this chapter.
2023 Alaska Statutes › Title 8. Business and Professions › Chapter 88. Real Estate Brokers and Other Licensees › Article 1. Real Estate Commission. › Sec. 08.88.095. Educational requirements after initial license.

(a) In addition to the continuing educational requirements of AS 08.88.091(d), within one year after the date that the commission issues an initial license under this chapter, the licensee shall complete 30 hours of education approved by the commission under AS 08.88.091.
(b) On the document representing an initial license, the commission shall include clear and prominent language stating that the license is subject to the licensee's completion of the educational requirements within one year after the date of the issuance of the license.
(c) Within 30 days after the end of the one-year period, the licensee shall submit, on a form provided by the commission, a certification that the licensee has completed the educational requirements.
(d) After a licensee submits the completed form under (c) of this section and pays the required fee, the commission shall issue a new license document to the licensee that does not contain the language required by (b) of this section.
(e) If a licensee fails to complete the educational requirements within the one-year period or to provide the certification required by (c) of this section, the license automatically lapses 30 days after the end of the one-year period. However, the commission may reinstate the license under AS 08.88.241.
(f) Notwithstanding the other provisions of this section, an individual who is issued an initial license as a real estate broker is not required to satisfy the educational requirements for that initial license if, immediately before the issuance, the individual is licensed as an associate real estate broker under this chapter.
(g) In this section, “educational requirements” means the educational requirements of (a) of this section.
2023 Alaska Statutes › Title 8. Business and Professions › Chapter 88. Real Estate Brokers and Other Licensees › Article 1. Real Estate Commission. › Sec. 08.88.098. Educational requirements after suspension.

(a) In addition to the continuing educational requirements of AS 08.88.091(d) and the educational requirements of AS 08.88.095(a), if the commission suspends a license under AS 08.01.075, the licensee shall complete the education required by the commission before the commission may reinstate the suspended license.
(b) After completing the educational requirements of (a) of this section, the licensee shall submit, on a form provided by the commission, a certification that the licensee has completed the educational requirements.
(c) The educational requirements of (a) of this section are in addition to any other conditions that the commission sets for reinstating a suspended license under this chapter.
2023 Alaska Statutes › Title 8. Business and Professions › Chapter 88. Real Estate Brokers and Other Licensees › Article 2. Licensing. › Sec. 08.88.161. License required.

Unless licensed as a real estate broker, associate real estate broker, or real estate salesperson in this state, a person may not, except as otherwise provided in this chapter,
(1) sell, exchange, rent, lease, auction, or purchase real estate;
(2) list real estate for sale, exchange, rent, lease, auction, or purchase;
(3) collect rent for the use of real estate or collect fees for property management;
(4) practice, or negotiate for a contract to practice, property management;
(5) collect fees for community association management;
(6) practice, or negotiate for a contract to practice, community association management;
(7) as a business, buy, sell, or deal in
(A) options in real estate; or
(B) options in improvements to real estate;
(8) assist in or direct the procuring of prospective buyers and sellers of real estate, communicate with prospective buyers and sellers of real estate, or assist in the negotiation of a transaction that results or is calculated to result in the sale, exchange, rent, lease, auction, or purchase of real estate;
(9) accept or pay a fee for the performance of any of the activities listed in this section except as otherwise specifically provided in this chapter;
(10) hold out to the public as being engaged in the business of doing any of the things listed in this section; or
(11) attempt or offer to do any of the things listed in this section.
2023 Alaska Statutes › Title 8. Business and Professions › Chapter 88. Real Estate Brokers and Other Licensees › Article 2. Licensing. › Sec. 08.88.165. Conduct of auctions.

Notwithstanding AS 08.88.161, a person who is not licensed under this chapter may conduct an auction of real estate if
(1) the person has completed an auctioneering program at a school certified by an agency of this or another state, and the program included a course on real estate sales; and
(2) a real estate broker licensed under this chapter or an associate real estate broker licensed under this chapter supervises and is present during the auction.
2023 Alaska Statutes › Title 8. Business and Professions › Chapter 88. Real Estate Brokers and Other Licensees › Article 2. Licensing. › Sec. 08.88.167. Civil penalty for unlicensed or unauthorized practice.

(a) In addition to penalties prescribed by any other provision of law, if a person engages or offers to engage in an activity for which a license is required under AS 08.88.161 without being licensed or authorized to engage in the activity in accordance with the provisions of this chapter, the commission may enter an order levying a civil penalty.
(b) A civil penalty levied under this section may not exceed $5,000, or the amount of gain realized plus $5,000, whichever is greater, for each offense. In levying a civil penalty, the commission shall set the amount of the penalty imposed under this section after taking into account the seriousness of the violation, the economic benefit resulting from the violation, the history of violations, and other facts the commission considers relevant.
(c) Before entering an order under (a) of this section, the commission shall send the person written notice of the proposed order that grants the person a 30-day period during which the person may request a hearing on the record.
(d) In connection with proceedings under (a) - (c) of this section, the commission may issue subpoenas to compel the attendance and testimony of witnesses and the disclosure of evidence and may request the department to bring an action to enforce a subpoena.
(e) A person aggrieved by the levy of a civil penalty under this section may file an appeal with the superior court for judicial review of the penalty under AS 44.62.560.
(f) If a person fails to pay a civil penalty within 30 days after entry of an order under (a) of this section, or within 10 days after the court enters a final judgment in favor of the commission of an order stayed pending an appeal under (e) of this section, the commission may initiate other action to recover the amount of the penalty.
(g) An action to enforce an order under this section may be combined with an action for an injunction under AS 08.88.037.
2023 Alaska Statutes › Title 8. Business and Professions › Chapter 88. Real Estate Brokers and Other Licensees › Article 2. Licensing. › Sec. 08.88.172. Errors and omissions insurance.

(a) A person licensed as a real estate broker, associate real estate broker, or real estate salesperson shall, as a condition of licensing, carry and maintain errors and omissions insurance to cover activities for which licensing is required under AS 08.88.161.
(b) The department shall establish by regulation the terms and conditions of the errors and omissions insurance required by this section, including
(1) coverage requirements;
(2) limits of coverage;
(3) the maximum amount of premium to be charged licensees under a master errors and omissions policy under (d) of this section; and
(4) the method for adjusting these amounts based on the Consumer Price Index.
(c) A licensee may obtain the errors and omissions insurance required by (a) of this section by
(1) obtaining a master insurance policy that may be made available to licensees by the commission; or
(2) independently obtaining errors and omissions insurance that complies with the requirements established under (b) of this section.
(d) The commission may
(1) solicit bids for a master errors and omissions insurance policy for licensees that meets the minimum terms and conditions established under (b) of this section using a competitive sealed bid process under AS 36.30 (State Procurement Code); and
(2) charge a licensee a reasonable administration fee to recover costs incurred in connection with the solicitation made under (1) of this subsection.
(e) [Repealed, § 4 ch 39 SLA 2016.]
(f) A licensee seeking to obtain or renew a license shall certify to the commission that errors and omissions insurance has been obtained. A licensee who elects to independently obtain errors and omissions insurance shall provide a certificate of coverage with the application to obtain or renew a license.
2023 Alaska Statutes › Title 8. Business and Professions › Chapter 88. Real Estate Brokers and Other Licensees › Article 2. Licensing. › Sec. 08.88.173. Fidelity bond for community association managers.

(a) If the board of directors of a community association allows a broker to exercise control over community association fees or other community association funds, the broker must provide evidence to the commission that the broker is covered by a blanket fidelity insurance bond. The bond may be in the name of the broker with the association as an additional insured or in the name of the association with the broker as an additional insured. The bond must cover the maximum funds that will be within the control of the community association manager at any time while the bond is in force. The commission may grant an exemption from the bonding requirement of this subsection if the commission determines that the community association manager has equivalent comparable coverage or that coverage is unavailable. The commission may adopt regulations to implement this subsection, including regulations concerning the minimum coverage and terms of coverage that are required and proof of bond and the granting of exemptions.
(b) If a loss covered by the fidelity bond required under this section is also reimbursable from the real estate recovery fund, the owners' association that suffered the loss may not recover under the bond until the association has obtained a final judgment, final arbitration award, or settlement agreement and filed a claim for an award under AS 08.88.460.
2023 Alaska Statutes › Title 8. Business and Professions › Chapter 88. Real Estate Brokers and Other Licensees › Article 2. Licensing. › Sec. 08.88.175. Limitations on community association managers.

A licensee may not, within the practice of community association management, exercise control over the
(1) reserves or investment accounts of a community association;
(2) operating account of a community association unless
(A) allowed under a contract that has been approved by the association's board of directors; and
(B) duplicate financial statements concerning the account are sent by the institution holding the account to the licensee and the association's board of directors at separate addresses.
2023 Alaska Statutes › Title 8. Business and Professions › Chapter 88. Real Estate Brokers and Other Licensees › Article 2. Licensing. › Sec. 08.88.181. Content and purpose of examination.

(a) The real estate examinations may include questions on real estate business ethics and standards; arithmetic and accounting; elementary principles of land economics and appraisal; the general principles in state statutes relating to deeds, mortgages, real estate contracts, subdivisions, common interest communities, legal descriptions, building restrictions, real estate licensee relationships, agency law, brokerage, disclosure requirements, trust accounting requirements, and landlord and tenant law; property management ethics and standards; community association management operations, ethics, and standards; and the general provisions of this chapter and of the regulations of the commission.
(b) The real estate salesperson examination covers the same subjects as the real estate broker examination, but is less difficult.
(c) The only purpose of an examination under this chapter is to disqualify those whose lack of ability to participate in real estate transactions would create a serious risk of serious financial loss to members of the public.
2023 Alaska Statutes › Title 8. Business and Professions › Chapter 88. Real Estate Brokers and Other Licensees › Article 2. Licensing. › Sec. 08.88.191. Administration of examination.

(a) The commission shall offer written examinations at periodic intervals but at least once a year.
(b) If the commission authorizes the department to contract with a national testing service to prepare, administer, and grade examinations,
(1) the commission or its designee shall review the examination and approve its contents;
(2) application for an examination may be transmitted by the applicant directly to the national testing service; payment of an examination fee shall be made by the applicant directly to the national testing service's designated representative before the examination is taken by the applicant.
(c) An applicant who fails the written examination may request that the examination be reevaluated. The commission shall provide by regulation for a system of reevaluating examinations on request of an applicant who fails the examination. The system provided by the commission may provide for reevaluation by the testing service or by any other person.
2023 Alaska Statutes › Title 8. Business and Professions › Chapter 88. Real Estate Brokers and Other Licensees › Article 2. Licensing. › Sec. 08.88.221. Fees.

The Department of Commerce, Community, and Economic Development shall set fees under AS 08.01.065 for a real estate broker, associate broker, or salesperson licensee or applicant for the following:
(1) examination;
(2) initial license;
(3) renewal of an active license;
(4) renewal of an inactive license;
(5) amending or transferring a license;
(6) publications offered by the commission;
(7) seminars offered by the commission;
(8) reinstatement of a lapsed license;
(9) changes to registered office information;
(10) course certification and recertification;
(11) instructor approval and renewal of approval; and
(12) issuance of a new license document under AS 08.88.095(d).
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.