Sentences with phrase «licensed broker fails»

103 DOS 93 Matter of Cipriani Lewis - individually licensed broker fails to obtain associate broker's license when acting under the name of the corporation; must get relicensed as associate broker, can't merely file salesperson's change of association form; pleadings amended to conform to the proof; reprimand

Not exact matches

The institution has strong powers to punish those brokers that fail to comply to other rules or even revoke their licenses.

Any insurance company or surplus lines broker that fails to pay the Insurance Premiums License Tax by the March 1 due date is subject to a ten percent penalty that shall be added to the amount of the unpaid tax liability.

The Ontario Divisional Court has overturned a decision of the Financial Services Tribunal in which the Tribunal revoked a mortgage brokers license because the Tribunal failed to give sufficient consideration to lesser penalties before revoking the license.

A broker who fails to comply with state laws and regulations risks facing disciplinary action from licensing authorities, as well as the possibility of litigation from unsatisfied clients.»

Sharon Ava & Co., Inc. v. Olympic Tower Assoc. (259 A.D. 2d 315)- plaintiff fails to establish that it was licensed at the time it procured lease transaction and is barred by RPL § 442 - d from commencing action to recover commission; fact that corporate plaintiff's president was licensed broker at the time of the transaction does not save the cause of action on behalf of the unlicensed corporation.

26 DOS 99 Matter of DOS v. Bronson - failure to pay judgment; DOS fails its burden of proof; failure to appear at hearing; ex parte hearing may proceed upon proof of proper service; DOS fails its burden of proof to establish broker made false statement with intent to deceive regarding property conditions; broker negligently makes misstatement to buyer; failure to pay judgment demonstrates untrustworthiness unless broker presents valid evidence of inability to pay; broker fails to appear to provide evidence; submission of unverified written answer is insufficient evidence to prove inability to pay judgment; broker's license suspended until broker submits proof he has fully paid judgment

42 DOS 99 Matter of Smadar - failure to pay judgment; failure to appear at hearing; unearned commission; ex partehearing may proceed upon proof of proper service; denial of renewal of license due to failure to pay judgment; applicant fails to appear and establish that he is qualified to be licensed; application for brokers license denied

92 DOS 93 Matter of Bijur - licensee required to be licensed in the capacity under which he conducts business; individually licensed broker acts as associate broker without proper licensing, business card does not reflect licensed status; past discipline considered regarding penalty; $ 500 fine or 1 - month suspension for corporation and representative broker; 1 - month suspension for individual broker who failed to obtain associate brokerage license

Salesperson failed to establish that she was a licensed real estate salesperson associated with a licensed broker; salesperson's only recourse for compensation from the broker upon the theory that branch office «managing» salesperson had actual or apparent authority fails where no actual authority existed and there could be no reasonable reliance upon apparent authority; 19 NYCRR 175.20 designed to protect public, not real estate salespersons.

357 DOS 02 Matter of DOS v. Elias - failure to appear at hearing; failure to pay judgment; proper business practices; deposits; DOS fails its burden of proof; restitution; ex parte hearing may proceed upon proof of proper service; respondent failed to fully satisfy a judgment obtained against him without showing that he was unable to do so; a rental broker is entitled to compensation only after procuring a rental agreement between tenant and landlord; retaining part or all of the deposit without obtaining a rental agreement demonstrates untrustworthiness and incompetency; restitution may be ordered as a condition to retention of the broker's license where he has received money to which he is not entitled; unlawful for broker to operate real estate brokerage business at an address other than that which was stated on his application; broker operated his real estate business out of an address prior to obtaining a license for that address; DOS failed to prove that respondent commingled and converted deposits; real estate brokers license suspended for four months and an additional period of time until respondent proves he has paid the balance of the judgment

287 DOS 98 Matter of DOS v. Uqdah Realty & Management Corp. — deposits; jurisdiction; fraudulent practices; failure to pay judgment; vicarious liability; notary public; disclosure of agency relationship; broker violated 19 NYCRR 175.1 when he deposited escrow funds into his operating account; broker committed conversion when his operating account fell below deposit amount; broker engaged in fraudulent practices when he illegally retained buyer's trust funds and attempted to qualify prospective buyer for mortgage by falsely stating their employment; broker failed to disclose his agency relationship to his client; failure to pay judgment; corporate real estate broker vicariously liable and charged with actual knowledge of violation of law because of representative broker's cognizant misconduct as corporate officer; broker is not required to deposit a refundable commission in an escrow account unless contractually demanded; corporate broker and representative broker's license revoked; restitution of deposit of $ 12,000 plus interest; notary public commission revoked based on misconduct as a real estate licensee

594 DOS 01 DOS v. Walker - deposits; failure to appear at hearing; failure to pay judgment; failure to cooperate with DOS investigation; notary public; proper business practices; broker commingles funds by placing deposits in operating account; broker allows escrow account to be overdrawn on numerous occasions; broker uses deposit for separate, unrelated business investment; broker fails to pay judgment without presenting an explanation or excuse for failure to pay judgment; broker fails to cooperate with DOS investigation by failing to respond to and comply with letter directing him to appear for a conference and to provide certain documents; broker fails to notify DOS of new address upon closing office; DOS fails to prove that salesperson improperly held herself out to be real estate broker associated with corporate broker, that the broker made misrepresentations to the purchasers regarding payments they were required to make toward the purchase, that some checks were returned for insufficient funds, that the broker failed to make certain required payments, that the broker properly failed to make certain other deposits and that the broker gave a postdated deposit check which could not be cashed due to insufficient funds; representative broker's and corporate broker's licenses revoked, return of deposits in the amount of $ 400.00 and $ 3,173.83 ordered with interest, civil judgment to be fully satisfied; salesperson fined $ 1,000.00 and notary commission suspended for four months

84 DOS 99 Matter of DOS v. Woodland - failure to appear at hearing; jurisdiction; mortgage applications; failure to pay judgment; ex parte hearing may proceeding upon proof of proper service; DOS has jurisdiction over respondents for acts of misconduct which occurred during licensure even though the licenses expired on their own terms; DOS fails its burden of proof to establish broker failed to obtain signature on agency disclosure form; DOS fails its burden of proof to establish that a broker has an obligation to «pre-qualify» a potential purchaser; broker breached duty to deal honestly with the public when advised purchaser he would assist in obtaining financing and failed to do so; DOS fails its burden of proof that broker wrongfully failed to hold a $ 500.00 deposit in escrow as deposit was remitted to seller with the permission of buyer; failure to pay judgment without a showing that broker is unable to do so is a demonstration of untrustworthiness; no action to be taken for reapplication for broker's license until payment of $ 1,000.00 fine and proof of satisfaction of judgment

214 DOS 97 Matter of DOS v. Laymon - accounting to client; bad check; deposits; failure to pay judgments; proper business practices; jurisdiction; DOS retains jurisdiction after expiration of license (for failure to pay renewal fee) where acts occurred during licensure; violation of 19 NYCRR 175.1 by depositing clients» funds into operating account and failing to maintain special bank account; violation of 19 NYCRR 175.2 for failing to account to client; broker engaged in fraudulent practices by accepting monies he was required to retain in escrow, depositing said monies into his operating account, failing to return same to its rightful owner and by purporting to make refunds by issuing bad checks; in light of broker's financial inability to do so, failure to promptly satisfy judgments was not a demonstration of untrustworthiness; there was no violation of 19 NYCRR 175.3 (b) where broker was not managing rental properties; real estate broker's license revoked; reapplication for broker's license conditioned upon proof of payment of restitution with interest and proof of satisfaction of judgment with interest

730 DOS 02 DOS v. New World Realty of New York, Inc. — availing of license; deposits; disclosure of agency relationships; duty to supervise sales associates; failure to pay judgment; proper business practices; DOS has jurisdiction where disciplinary action was started while individual was licensed as an associate broker and was eligible to automatically renew at the time of the disciplinary hearing; salesperson owned voting stock in licensed corporate real estate broker, failed to pay judgment and failed to present evidence of inability to do so, and engaged in unlicensed activity after license expired; representative broker availed corporate real estate brokers license to salesperson; representative broker failed to properly supervise salesperson by permitting and authorizing salesperson to act as a real estate broker; broker and salesperson failed to make agency disclosures and failed to deposit funds of principal in a special bank account; real estate transaction conducted was a fraudulent business practice; DOS fails to prove the unauthorized practice of law; salesperson's license revoked and salesperson ordered to pay refund of $ 1,406.00 of illegal commission collected; representative broker's license revoked and broker ordered to refund $ 74.00 of illegal commission collected; representative broker fined $ 5,000.00

960 DOS 03 DOS v. Vazquez - deposits; unlicensed activity; duty to supervise sales associate; failure to cooperate with DOS investigation; failure to pay judgment; sanction; broker fails to reply to DOS's request for information; broker allows two individuals to work in association with brokerage without being properly licensed; broker fails to pay judgment; broker fails to return rental deposits in two transactions where the rental was not consummated; broker fails to supervise sales associate and is accountable for monies received by salesperson and unaccounted for; in setting penalty, it is proper to consider licensees were found to have availed themselves of improper licensed real estate salespersons and to have retained an unearned commission; corporate broker's license and representative broker's license revoked and brokers ordered to pay restitution in the amount $ 7,725.00 and judgment in the amount $ 740.37

321 DOS 00 DOS v. Kerr - deposits; failure to appear at hearing; failure to pay judgment; disclosure of agency relationships; material misstatement on application; failure to cooperate with DOS investigation; ex parte hearing may proceed upon proper notice; broker fails to provide RPL § 443 agency disclosure notice to landlord / client prior to entering into listing agreement; broker commits conversion upon exercising unauthorized right of ownership over rental deposits and payments collected on behalf of principal; failure to satisfy judgment is demonstration of untrustworthiness unless broker presents valid evidence of inability to pay; failure to respond to DOS request letter constitutes failure to cooperate; material misstatement on application by denying prior license suspension; broker's license revoked

In the case of a licensee, failing to exercise adequate supervision over the activities of any licensed affiliate brokers under the scope of this chapter;

Town & Country Southampton, Inc. v. Grey (299 A.D. 2d 541)-- to recover a commission, a broker must establish that he or she is duly licensed, that he or she has a contract, express or implied, with the party charged with paying the commission, and that he or she was the procuring cause of the sale or lease; broker's unsupported and conclusory allegation of bad faith failed to raise triable issues of fact where defendant's made prima facieshowing of entitlement to judgment as a matter of law on the ground that neither the broker or its agent was a procuring cause of the lease.

(15) A salesperson whose supervising broker has failed to renew or reinstate the broker's expired broker license or supervising broker endorsement must request to be placed on inactive status or transfer their salesperson license to another supervising broker within ten days of being notified by the board that their supervising broker's broker license or supervising broker endorsement has expired.

887 DOS 03 DOS v. Bravo - deposits; disclosure of agency relationships; failure to cooperate with DOS investigation; proper business practices; vicarious liability; broker failed to provide agency disclosure form; broker continued to do business under prior firm's name after association with that firm had been terminated; broker failed to deposit monies received by her into an escrow account; broker failed to respond to DOS letters; broker demonstrated untrustworthiness and incompetency by failing to follow up on the availability of an apartment in a rental transaction; broker failed to give a cash refund of a deposit received in cash upon tenant's demand therefore; corporate broker bound by the knowledge acquired by its representative broker; corporate broker's license and representative broker's license suspended for six months

7 DOS 00 DOS v. Flagship Marketing Group - availing of license; failure to cooperate with DOS investigation; jurisdiction; proper business practices; ex parte hearing may proceed upon proof of proper service; DOS retains jurisdiction over party not licensed at the time of the hearing where, at that time the complaint was served, the party was (i) licensed, (ii) an applicant for a license or renewal, or (iii) was eligible to automatically renew; salesperson is prohibited both from owning, directly or indirectly, singly or jointly, any shares of voting stock in and from being an officer of any licensed real estate brokerage corporation with which the salesperson is associated; representative real estate broker availed the corporate broker license to an associated salesperson where the office was operated by the salesperson without the direct supervision of the representative broker and the salesperson conducted business as a broker for his own benefit; representative real estate broker engaged in fraud by availing the corporate real estate broker license to a salesperson; representative broker's availing of corporate broker's license for which the corporate broker is vicariously liable; failure to provide business records constitutes failure to cooperate with DOS investigation; DOS fails to establish fraud, ignorance or negligence is not sufficient to prove mistake; pressure, regardless of how severe, is not undue influence; restitution denied where funds sought were received by an entity not named or charged in the complaint; corporate broker fined $ 3,000.00, representative broker's license revoked and fined $ 3,000.00 and salesperson fined $ 5,000.00

145 DOS 99 Matter of DOS v. Reles - jurisdiction; proper business practices; unearned commissions; surrender of license by broker does not divest DOS of jurisdiction; broker pleads no contest to charge that he conducted regulated real estate transactions under an unlicensed name; fees charged while conducting activity under an unlicensed name are unearned; broker fails to execute written Consent Order and make restitution in accordance with no contest plea; license revoked, no action on further licensure until proof submitted of payment of restitution

112 DOS 99 Matter of DOS v. Dorfman - adjournments; proper business practices; failure to appear at hearing; failure to cooperate with DOS investigation; accounting to client; ex parte hearing may proceed upon proof of proper service; individually licensed broker seeking to conduct brokerage business under a name other than his own must apply for a license under such new name; broker engaged in the leasing of real property through an unlicensed corporation; broker failed to cooperate with DOS investigation by failing to respond to DOS letters and telephone calls; complaint alleges broker failed to provide an accounting or copies of records of management for owner's property; broker may be required to return commissions and fees received which he is not entitled to; $ 1,000.00 fine and suspension of broker's license until such time as broker establishes he has fully complied with DOS's investigation and made a full and satisfactory accounting to owner, shall have paid to owner all money due and owning to him as established by the accounting, with interest, and shall have refunded to owner all commissions and other fees, with interest, paid

336 DOS 97 Matter of DOS v. Reyes - accounting to client; deposits; DOS fails its burden of proof; licensee violates 19 NYCRR 175.1 by depositing rents in the management of client's business into his operating account; licensee fails to fully account for insurance proceeds and pays himself management fees well in excess of amount agreed to; DOS fails to prove licensee wrongfully closed client account, improperly monitored charges assessed in the operation of client's apartment business and failed to pay insurance premiums; broker required to refund excess commissions earned plus interest and to fully account for monies claimed expended for maintenance and repair; broker's license is suspended for 6 months and until such time as proof submitted of refund of excess commissions and accounting

199 DOS 98 Matter of DOS v. Wheeler — due process; failure to appear at hearing; failure to cooperate with DOS investigation; deposits; proper business practices; ex parte hearing may proceed upon proof of proper service; broker improperly conducted business under name other than that on his licensed as evidenced by signs indicating a different name; broker fails to provide agency disclosure form to buyer prior to entering into agency relationship; broker failed to deliver duplicate original of instrument to client; broker commingled funds by depositing deposit check into operating account; untrustworthiness demonstrated by failure to return deposit when offer not accepted; failure to comply with DOS investigation; broker's license revoked

331 DOS 03 DOS v. Skarvelis — DOS fails its burden of proof; proper business practices; no licensed salesperson may own any voting shares of stock in any licensed real estate brokerage corporation with which the salesperson is associated; DOS fails to prove that salesperson was ever associated as a licensed real estate salesperson with broker at a time when she held voting rights and an ownership interest in the brokerage; complaint dismissed

79 DOS 99 Matter of DOS v. Pagano - disclosure of agency relationships; failure to appear at hearing; proper business practices; unauthorized practice of law; unearned commissions; vicarious liability; fraudulent practice; jurisdiction; ex parte hearing may proceed upon proof of proper service; DOS has jurisdiction after expiration of respondents» licenses as acts of misconduct occurred and the proceedings were commenced while the respondents were licensed; licensee fails to timely provide seller client with agency disclosure form prior to entering into listing agreement and fails to timely provide agency disclosure form to buyer upon first substantive contact; broker fails to make it clear for which party he is acting; broker violates 19 NYCRR 175.24 by using exclusive right to sell listing agreement without mandatory definitions of «exclusive right to sell» and «exclusive agency»; broker breaches fiduciary duties to seller clients by misleading them as to buyer's ability to financially consummate the transaction; broker breaches his fiduciary duty to seller by referring seller to the attorney who represented the buyers when he knew or should have known such attorney could not properly protect seller's interests; improper for broker to use listing agreements providing for broker to retain one half of any deposit if forfeited by buyer as such forfeiture clause could, by its terms, allow broker to retain part of the deposit when broker did not earn a commission; broker must conduct business under name as it appears on license; broker engaged in the unauthorized practice of law in preparing contracts for purchase and sale of real estate which did not contain a clause making it subject to the approval of the parties» attorneys and were not a form recommended by a joint bar / real estate board committee; broker demonstrated untrustworthiness and incompetency in using sales contract which purported to change the terms of the listing agreement to include a higher commission; broker demonstrated untrustworthiness and incompetency in using contracts of sale which were unclear, ambiguous, vague and incomplete; broker failed to amend purchase agreement to reflect amendment to increase deposit amount; broker demonstrated untrustworthiness in back - dating purchase agreements; broker demonstrated untrustworthiness in participating in scheme to have seller hold undisclosed second mortgage and to mislead first mortgagee about the purchaser's financial ability to purchase; broker demonstrated untrustworthiness by claiming unearned commission and filing affidavit of entitlement for unearned commission; DOS fails to establish by substantial evidence that respondent acted as undisclosed dual agent; corporate broker bound by the knowledge acquired by and is responsible for acts committed by its licensees within the actual or apparent scope of their authority; corporate and individual brokers» licenses revoked, no action taken on application for renewal until proof of payment of sum of $ 2,000.00 plus interests for deposits unlawfully retained

The Ontario Divisional Court has overturned a decision of the Financial Services Tribunal in which the tribunal revoked a mortgage broker's license because the tribunal failed to give sufficient consideration to lesser penalties before revoking the license.

189 DOS 99 Matter of DOS v. Naftal - listing agreements; deposits; unauthorized practice of law; vicarious liability; amendment of pleading to conform to the proof; improperly altering listing agreement without the consent or knowledge of principal to show the potential commission split with buyer's broker to meet MLS requirements; preparing and submitting fraudulent MLS change notifications purporting to extend and alter listings; deposit of escrow funds into operating account; preparation of lease constitutes the unauthorized practice of law; pleadings may be amended to conform to the proof and encompass a charge not stated in the complaint where the issue has been fully litigated by the parties and is closely enough related to the stated charges that there is no surprise or prejudice to the respondent; continuing to offer properties for sale after preparation of forged listing extensions violates 19 NYCRR 175.10; DOS fails to establish violation of 19 NYCRR 175.12 for failure to provide copy of listing extension where extension was not authorized by principal; DOS fails to demonstrate demand for unearned commission where broker may have believed they were entitled to a commission; broker's licenses suspended for one year and thereafter until such time as restitution in the amounts of $ 5,000.00 and $ 2,055.40 is made