(1) Subject to Section 57-19-17, if the division finds that an applicant or salesperson has engaged in an act described in Subsection (2), the division may: (a) deny an application for registration as a salesperson; (b) suspend or revoke an existing registration; or (c) impose a civil penalty not to exceed $5,000.

(a) deny an application for registration as a salesperson;

(b) suspend or revoke an existing registration; or

(c) impose a civil penalty not to exceed $5,000.

(2) Subsection (1) applies if the division finds that the applicant or salesperson: (a) files, or causes to be filed, with the division a document that contains untrue or misleading information; (b) makes an untrue or misleading statement of material fact; (c) fails to state a material fact that is necessary in order to make the statements made not misleading in light of the circumstances under which the statements are made; (d) employs a device, scheme, or artifice to defraud, or engages in an act, practice, or course of business that operates or would operate as a fraud or deceit upon a person; (e) subsequent to the effective date of registration as a salesperson, is: (i) convicted of: (A) a felony; or (B) a misdemeanor involving theft, fraud, or dishonesty; or (ii) enjoined from, assessed a civil penalty for, or found to have engaged in a violation of any law designed to protect consumers; (f) violates this chapter; (g) engages in an activity that constitutes dishonest dealing; or (h) engages in unprofessional conduct as defined by statute or rule made by the director.

(a) files, or causes to be filed, with the division a document that contains untrue or misleading information;

(b) makes an untrue or misleading statement of material fact;

(c) fails to state a material fact that is necessary in order to make the statements made not misleading in light of the circumstances under which the statements are made;

(d) employs a device, scheme, or artifice to defraud, or engages in an act, practice, or course of business that operates or would operate as a fraud or deceit upon a person;

(e) subsequent to the effective date of registration as a salesperson, is: (i) convicted of: (A) a felony; or (B) a misdemeanor involving theft, fraud, or dishonesty; or (ii) enjoined from, assessed a civil penalty for, or found to have engaged in a violation of any law designed to protect consumers;

(i) convicted of: (A) a felony; or (B) a misdemeanor involving theft, fraud, or dishonesty; or

(A) a felony; or

(B) a misdemeanor involving theft, fraud, or dishonesty; or

(ii) enjoined from, assessed a civil penalty for, or found to have engaged in a violation of any law designed to protect consumers;

(f) violates this chapter;

(g) engages in an activity that constitutes dishonest dealing; or

(h) engages in unprofessional conduct as defined by statute or rule made by the director.