Inspections by Division; penalty for failure to cooperate; regulations.
1. The Division shall regularly inspect the files of transactions, records of trusts and relevant accounts of all project brokers and developers.
2. If a project broker or developer fails to allow or cooperate fully with such an inspection, the Division may:
(a) Impose a fine or suspend or revoke the license or permit of the project broker or developer; or
(b) Deny the renewal of the license of the project broker.
3. The Division shall adopt regulations specifying the procedure for such inspections.
Last modified: February 27, 2006