Revision Note
The sections in this subpart enacted as §§514B-95.1 to 514B-95.11, are redesignated.
[§514B-99] Penalties. (a) Any person who executes an affidavit required by this subpart and who violates or fails to comply with any of the provisions of this subpart or any rule adopted by the commission pursuant thereto, shall be subject to a civil penalty of up to $10,000; or fifty per cent of the net proceeds received or to be received by the person from the sale, lease, rental, assignment, or other transfer of the residential unit to which the violation relates, whichever is the greater amount.
(b) Any developer, employee or agent of a developer, or real estate licensee who violates or fails to comply with any of the provisions of this subpart or any rule adopted by the commission pursuant thereto, shall be subject to a civil penalty of up to $10,000. Each violation shall constitute a separate offense. [L 2005, c 93, pt of §4]
Section: Previous 514b-95.5 514b-96 514b-96.5 514b-97 514b-97.5 514b-98 514b-98.5 514b-99 514b-99.3 514b-99.5 514b-101 514b-102 514b-103 514b-104 514b-105 NextLast modified: October 27, 2016