Wyoming Administrative Code › Agency 018 - Real Estate Commission › Sub-Agency 0002 - Real Estate Commission › Chapter 6 - REGULATORY ENFORCEMENT GROUNDS › Section 6-1 - Regulatory enforcement grounds

Current through July 13, 2024
The Commission may take disciplinary action, which includes
				  an administrative fine, censure, probation, suspension, or revocation,
				  including a combination thereof, with respect to a licensee, for any of the
				  following acts or conduct:
(a) Against
				a licensee and/or licensee's Responsible Broker for:
(i) Violating or failing to comply with any
				rule of the Commission or provision of the act;
(ii) Participating in real estate activity
				while a license is on inactive status;
(iii) Representing that a particular form or
				sales compensation rate has been approved by the Commission;
(iv) Violation or assisting in the violation
				of local, state or federal law or regulation;
(v) Using a form which does not describe the
				actual real estate transaction;
(vi) Making any false promise which
				influences, persuades, or induces action by another relating to a real estate
				transaction;
(vii) Failing to
				account for or to remit any moneys or documents coming into his possession
				which belong to others;
(viii)
				Commingling the money or property of others with his own;
(ix) Permitting the use of his license as a
				Responsible Broker to enable anyone to operate a real estate company without
				actual participation therein and control thereof by the Responsible
				Broker;
(x) Failing to provide
				information requested by the Commission relative to a complaint, investigation,
				or audit which could indicate a violation of the act;
(xi) Failing to disclose matters known to the
				licensee which are material to the real estate transaction;
(xii) Failing to notify sub-agents, multiple
				listing service or other interested parties when agency or non-agency has been
				terminated. Notice to multiple listing services shall constitute notice to all
				members thereof;
(xiii) Failing to
				remove signs and/or lock boxes after termination of a listing; continuing to
				advertise real estate which is no longer listed;
(xiv) Advertising and promoting another real
				estate company's or Responsible Broker's listings without written permission
				and in compliance with Section 4 of this chapter;
(xv) Failing to pay a fine imposed or comply
				with all requirements of a Commission settlement agreement, stipulation and
				order;
(xvi) Compensating any
				unlicensed person for performing the services of a licensee for any real estate
				activity except anyone arranging non-consecutive short-term rentals.
(xvii) Failing to obtain and maintain errors
				and omissions insurance and provide proof of insurance to the
				Commission.
(xviii) Falsifying
				attendance and/or completion of required and elective education for
				licensure;
(xix) Failing to
				disclose the names of all real estate companies within all real estate
				transactions if the Responsible Broker holds a license for more than one (1)
				real estate company, per
				W.S.
				33-28-111(a)(xxix)(D);
(xx) Procuring a license to practice pursuant
				to the Wyoming Real Estate Act by knowingly making a false statement,
				submitting false information, refusing to provide complete information in
				response to a question in an application for a license or through any form of
				fraud or misrepresentation;
(xxi)
				Participating, engaging, or assisting in a real estate transaction wherein all
				parties to the transaction are customers and no written agency or intermediary
				relationship is established.