Article 3: regulation Flashcards
A quart or administrative order requiring the cessation of certain activities
Cease and desist order
Illegally mixing personal funds with money held in trust on behalf of a client
Commingling
A negotiated settlement between the Arizona department of real estate and a licensee when enforcement and compliance find evidence to support discipline. Once signed by ADRE and the licensee, it becomes effective immediately and cannot be appealed
Consent order
A group of licensees – headed by a lead agent – who work within the same brokerage company
Real estate team
The permanent cancellation of a real estate license
Revocation
The temporary withdrawal of a real estate agents license for a certain and specified period of time. Usually, reactivation is automatic the day after this is lifted and is often conditioned on the fulfillment of certain requirements
Suspension
Monies received and maintained by broker acting in their fiduciary capacity
Trust funds
