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Current as of March 28, 2024 | Updated by Findlaw Staff
Upon the payment by the Arkansas Real Estate Commission of any amount of money under the provisions of § 17-42-406:
(1) The recipients of the payment, to the extent of the payment, shall assign to the commission all rights and claims that they may have against the licensee involved;
(2) The commission shall be subrogated to all of the rights of the recipients of the payment, to the extent of the payment; and
(3) In addition to any other disciplinary action taken against the licensee on the merits of the hearing, his or her license shall be immediately suspended until he or she has completely reimbursed the commission for the payment, plus interest at a rate to be determined by the commission. The rate shall not exceed ten percent (10%) per annum.
Cite this article: FindLaw.com - Arkansas Code Title 17. Professions, Occupations, and Businesses § 17-42-409. Commission subrogation - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-17-professions-occupations-and-businesses/ar-code-sect-17-42-409/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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