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- Alaska Statutes.
- Title 8. Business and Professions
- Chapter 88. Real Estate Brokers and Other Licensees
- Section 401. Prohibited Conduct; Penalties.
previous: Section 400
. [Repealed, Sec. 3 Ch 95 SLA 1964].
next: Section 403
. Review of Transactions.
AS 08.88.401. Prohibited Conduct; Penalties.
- (a) A person licensed under this chapter may not falsely represent to
- (1) have been awarded a degree or other designation;
- (2) be a member or an affiliate of a professional organization; or
- (3) be a member of a franchise or other business association.
- (b) A person
- (1) who is not a real estate broker licensed in this state may not accept a fee or a commission for performance of an act
for which a license is required by this chapter except that a real estate broker validly licensed in another state may
accept a fee or commission or a portion of a fee or commission for assisting a real estate broker licensed in this
state in the performance of an act for which a license is required by this chapter;
- (2) who is an associate broker or a real estate salesperson licensed in this state may accept a fee or commission for
performance of an act for which a license is required by this chapter only from the licensee's employing broker, except
that the wages of a person who is engaged as a licensed assistant under AS 08.88.398
may be accepted by the person from the assistant's employer.
- (c) A person licensed under this chapter may not knowingly make, authorize, direct, or aid in the publication of a false
statement or misrepresentation concerning land or a subdivision or other real estate offered for sale, lease, or rent
or concerning an association being managed.
- (d) A person licensed under this chapter may not knowingly pay any part of a fee, commission, or other compensation
received by the licensee in buying, selling, exchanging, leasing, auctioning, or renting real estate to
- (1) a person who is not licensed under this chapter, except as provided in (e) of this section;
- (2) another licensee, except through the licensee's responsible broker; or
- (3) another licensee knowing that the other licensee intends to pay all or a portion of that which is received to a person
who is not licensed under this chapter.
- (e) The prohibition of (d)(1) of this section does not prohibit
- (1) payments by a licensee to a person licensed to perform real estate activities in another jurisdiction if the other
person has assisted the licensee in the performance of an act for which a license is required by this chapter; or
- (2) payments from a real estate licensee to a principal as part of the resolution of a dispute regarding the terms of a
transaction or regarding the property transferred.
- (f) A person may not
- (1) use or attempt to use a license issued under this chapter that was issued to another person;
- (2) give false or forged evidence to the commission or to a representative of the commission in an attempt to obtain a
- (3) impersonate an applicant under this chapter;
- (4) knowingly use or attempt to use an expired, suspended, revoked, or nonexistent license; or
- (5) falsely claim to be licensed and authorized to practice under this chapter.
- (g) A person who violates this section or AS 08.88.161
is guilty of a class A misdemeanor.
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