(A) An investigation must be conducted in accordance with Section 40-1-80 and must be performed by investigators who have completed one hundred hours of training in programs that are approved by the commission and provide instruction on real estate principles, state statutory and regulatory law, and investigative techniques.

(B) A restraining order must be obtained in accordance with Section 40-1-100.

(C)(1) The department shall conclude its investigation within one hundred fifty days from receipt of the complaint or seek a waiver of this period from the commission upon a showing of due diligence and extenuating circumstances.

(2) A hearing on the charges must be at the time and place designated by the commission and must be conducted in accordance with the Administrative Procedures Act.

(3) The commission shall render a decision and shall serve, within ninety days, notice, in writing, of the commission's decision to the licensee charged. The commission also shall state in the notice the date upon which the ruling or decision becomes effective.

(4) The department shall maintain a public docket or other permanent record in which must be recorded all orders, consent orders, or stipulated settlements.

(D) A licensee may voluntarily surrender his license in accordance with Section 40-1-150.

(E)(1) The commission may impose disciplinary action in accordance with Section 40-1-120.

(2) Upon determination by the commission that one or more of the grounds for discipline exists, the commission may impose a fine of not less than five hundred or more than five thousand dollars for each violation and as provided in Section 40-1-120. The commission may recover the costs of the investigation and the prosecution as provided in Section 40-1-170.

(3) Nothing in this section prevents a licensee from voluntarily entering into a consent order with the commission wherein violations are not contested and sanctions are accepted.

(F) The department annually shall post a report that provides the data for the number of complaints received, the number of investigations initiated, the average length of investigations, and the number of investigations that exceeded one hundred fifty days.

HISTORY: 1997 Act No. 24, Section 1; 2004 Act No. 218, Sections 22 and 23; 2014 Act No. 258 (S.75), Section 2, eff June 9, 2014; formerly 1976 Code Section 40-57-150; 2016 Act No. 170 (S.1013), Section 1, eff January 1, 2017.

Editor's Note

Prior Laws:1956 (49) 2046; 1962 Code Section 56-1545.17; 1983 Act No. 94 Section 3; 1986 Act No. 353, Section 12; 1994 Act No. 385, Section 14; 1976 Code Section 40-57-180.

Effect of Amendment

2014 Act No. 258, Section 2, rewrote subsection (A); added subsection (C)(2), and redesignated the subsections accordingly; and added subsection (F).

2016 Act No. 170, Section 1, rewrote the section.