(a)(1) A registration may be revoked after notice and hearing upon a written finding of fact that the declarant has:

(A) Failed to comply with the terms of a cease and desist order;

(B) Been convicted in any court subsequent to the filing of the application for registration for a crime involving fraud, deception, false pretenses, misrepresentation, false advertising, or dishonest dealing in real estate transactions;

(C) Disposed of, concealed, or diverted any funds or assets of any person so as to defeat the rights of unit purchasers;

(D) Failed faithfully to perform any stipulation or agreement made with the Mayor as an inducement to grant any registration, to reinstate any registration, or to approve any promotional plan or public offering statement; or

(E) Made intentional misrepresentations or concealed material facts in an application for registration.

(2) Findings of fact, if set forth in statutory language, shall be accompanied by a concise and explicit statement of the underlying facts supporting the findings.

(b) If the Mayor finds after notice and hearing that the declarant has been guilty of a violation for which revocation could be ordered, the Office of Administrative Hearings may issue a cease and desist order instead.

(Mar. 29, 1977, D.C. Law 1-89, title IV, § 415, 23 DCR 9532b; June 9, 2018, D.C. Law 22-112, § 3(a), 65 DCR 4600.)

1981 Ed., § 45-1875.

1973 Ed., § 5-1275.

Applicability of D.C. Law 22-112: § 7147 of D.C. Law 23-16 repealed § 4 of D.C. Law 22-112. Therefore the amendment of this section by D.C. Law 22-112 has been implemented.

Applicability of D.C. Law 22-112: § 4 of D.C. Law 22-112 provided that the change made to this section by § 3(a) of D.C. Law 22-112 is subject to the inclusion of the law’s fiscal effect in an approved budget and financial plan. Therefore that amendment has not been implemented.