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 Oklahoma Statutes (Last Updated: September 18, 2014)
 Title 59. PROFESSIONS AND OCCUPATIONS

  § 59-858-402. Administrative fines.  

Latest version.

  • 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

    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.

Added by Laws 1993, c. 54, § 3, eff. Sept. 1, 1993.  Amended by Laws 1999, c. 26, § 3, eff. Nov. 1, 1999.