Virginia Administrative Code › Title 18 - PROFESSIONAL AND OCCUPATIONAL LICENSING › Agency 135 - REAL ESTATE BOARD › Chapter 20 - VIRGINIA REAL ESTATE BOARD LICENSING REGULATIONS › Part V - Standards of Practice and Conduct › Section 18VAC135-20-260 - Prohibited acts

Current through Register Vol. 40, No. 24, July 15, 2024
The following are prohibited acts:
1. Furnishing substantially inaccurate or
				  incomplete information to the board in obtaining, renewing, reinstating, or
				  maintaining a license;
2. Holding
				  more than one license as a real estate broker or salesperson in Virginia except
				  as provided in this chapter;
3. As
				  a currently licensed real estate salesperson, sitting for the licensing
				  examination for a salesperson's license;
4. As a currently licensed real estate
				  broker, sitting for a real estate licensing examination;
5. Signing an experience verification form
				  without direct supervision or actual knowledge of the applicant's activities as
				  defined in §§
										54.1-2100 and
				  54.1-2101
				  of the Code of Virginia or unreasonably refusing to sign an experience
				  verification form;
6. Having been
				  convicted or found guilty regardless of the manner of adjudication in any
				  jurisdiction of the United States of a misdemeanor involving moral turpitude,
				  sexual offense, non-marijuana drug distribution, or physical injury, or any
				  felony, there being no appeal pending therefrom or the time for appeal having
				  elapsed. Review of convictions shall be subject to the requirements of §
										54.1-204
				  of the Code of Virginia. Any plea of nolo contendere shall be considered a
				  conviction for the purposes of this subdivision;
7. Failing to inform the board in writing
				  within 30 days of pleading guilty or nolo contendere or being convicted or
				  found guilty regardless of adjudication of any convictions as stated in
				  subdivision 6 of this section;
8.
				  Having had a license as a real estate broker or real estate salesperson that
				  was suspended, revoked, or surrendered in connection with a disciplinary action
				  or that has been the subject of discipline in any jurisdiction;
9. Failing to inform the board in writing
				  within 30 days of a disciplinary action as stated in subdivision 8 of this
				  section;
10. Having been found in a
				  court or an administrative body of competent jurisdiction to have violated the
				  Virginia Fair Housing Act, the Fair Housing Laws of any jurisdiction of the
				  United States, including without limitation Title VIII of the Civil Rights Act
				  of 1968 (82 Stat. 73), or the Civil Rights Act of 1866 (14 Stat. 27), there
				  being no appeal therefrom or the time for appeal having elapsed;
11. Actions constituting failing to act as a
				  real estate broker or salesperson in such a manner as to safeguard the
				  interests of the public, including but not limited to the following:
a. A principal broker or supervising broker
				  failing to ensure proper supervision and accountability over the firm's
				  day-to-day financial dealings, escrow account or accounts, and daily
				  operations;
b. A broker failing to
				  disburse funds from an escrow account according to the regulations or failing
				  to properly retain documents relating to the basis for disbursal;
c. A broker failing to ensure the licensees
				  for whom the broker has oversight responsibility hold active licenses while
				  practicing real estate;
d. A broker
				  failing to provide accurate and timely reports to the board about a licensee's
				  compliance with the board's laws and regulations;
e. A broker failing to have signatory
				  authority on all accounts;
f. A
				  broker failing to account for or remit any moneys coming into a licensee's
				  possession that belong to another;
g. A licensee failing to submit to the broker
				  in a timely manner, all earnest money deposits, contracts, listing agreements,
				  deeds of lease, or any other documents for which the broker has oversight
				  responsibility;
h. A licensee
				  negotiating leases for a third party through an unlicensed firm or without a
				  principal broker;
i. A licensee
				  operating an unlicensed firm or acting as a principal broker;
j. A licensee practicing real estate with an
				  inactive or expired license;
k. A
				  licensee knowingly providing the broker with an earnest money deposit check
				  from an account with insufficient funds;
l. A licensee allowing unsupervised access to
				  a home without the owner's authorization;
m. A licensee failing to inform the broker of
				  a transaction; and
n. A licensee
				  submitting unauthorized altered copies of a contract or contracts to the
				  broker; and