Title 08 — Business and Professions
52 chapters · 1,415 sections in this title.
AS 08.88.220 [Repealed, § 3 ch 95 SLA 1964.]
0.0K chars
[Repealed or reserved.]
AS 08.88.221 Fees.
0.7K chars
The Department of Commerce, Community, and Economic Development shall set fees under AS 08.01.065 for a real estate broker, associate broker, or salesperson licensee or applicant for the following: (1) examination; (2) initial license; (3) renewal of an active license; (4) renewa…
AS 08.88.230 [Repealed, § 3 ch 95 SLA 1964.]
0.0K chars
[Repealed or reserved.]
AS 08.88.231 Deposit in general fund. [Repealed, § 9 ch 74 SLA 1987.]
0.0K chars
[Repealed or reserved.]
AS 08.88.240 [Repealed, § 3 ch 95 SLA 1964.]
0.0K chars
[Repealed or reserved.]
AS 08.88.241 Reinstatement of lapsed license.
0.7K chars
(a) A person whose real estate license has lapsed less than 24 months is eligible for reinstatement of the license if the person provides the required application, license fees, proof of continuing education as required by AS 08.88.091 for licensing periods during which the licen…
AS 08.88.250 [Repealed, § 3 ch 95 SLA 1964.]
0.0K chars
[Repealed or reserved.]
AS 08.88.251 Inactive license.
1.7K chars
(a) A real estate licensee who intends to become inactive shall return to the commission the person's license certificate and a completed inactivation form provided by the commission along with any applicable fees. The commission shall issue the person an inactive license certifi…
AS 08.88.260 [Repealed, § 3 ch 95 SLA 1964.]
0.0K chars
[Repealed or reserved.]
AS 08.88.261 Out-of-state licenses. [Repealed, § 7 ch 105 SLA 1990.]
0.0K chars
Article 3. Miscellaneous Provisions.
AS 08.88.263 License by endorsement.
0.4K chars
A person who holds a valid active real estate license issued by another state shall be granted an equivalent Alaska real estate license if that person (1) passes the portion of the real estate examination which examines on state law; (2) meets the requirements of AS 08.88.171; an…
AS 08.88.270 Secs. 08.88.270 — 08.88.280. [Repealed, § 3 ch 95 SLA 1964.]
0.0K chars
[Repealed or reserved.]
AS 08.88.281 Real estate recovery fund.
0.2K chars
Before issuing a license to an applicant under this chapter, the commission shall ensure that the applicant has complied with the provisions of AS 08.88.455 and is covered by the real estate recovery fund established in AS 08.88.450.
AS 08.88.290 [Repealed, § 3 ch 95 SLA 1964.]
0.0K chars
[Repealed or reserved.]
AS 08.88.291 Location; contact information.
1.5K chars
(a) A person licensed as a real estate broker shall, by registering with the commission, inform the commission of the person's principal office and of any branch offices of the person's real estate business and include in the information the names of the real estate licensees who…
AS 08.88.300 [Repealed, § 3 ch 95 SLA 1964.]
0.0K chars
[Repealed or reserved.]
AS 08.88.301 Change of location.
0.3K chars
Before a real estate broker changes the location of the broker's principal office or of a branch office, the broker shall notify the commission of the new address and any other office changes on a form provided by the commission and pay the applicable fees.
AS 08.88.305 Multiple business operations.
0.4K chars
A person licensed as a real estate broker may own, operate, or be employed by multiple corporations, partnerships, or other business organizations engaging in activities for which a license is required under this chapter, provided that each business organization is registered wit…
AS 08.88.310 [Repealed, § 3 ch 95 SLA 1964.]
0.0K chars
[Repealed or reserved.]
AS 08.88.311 Branch offices.
0.4K chars
(a) A branch office shall be under the direct supervision of a real estate associate broker whose principal place of business is that office and who is licensed under this chapter. An associate broker may serve in the capacity of direct supervisor at only one office. (b) A branch…
AS 08.88.320 [Repealed, § 3 ch 95 SLA 1964.]
0.0K chars
[Repealed or reserved.]
AS 08.88.321 Possession and display of license certificates.
0.7K chars
(a) The license certificate of a real estate broker shall be displayed in the broker's principal office. (b) The license certificate of each licensee working in the broker's principal office shall be displayed in that office. (c) The license certificate of the designated associat…
AS 08.88.330 [Repealed, § 3 ch 95 SLA 1964.]
0.0K chars
[Repealed or reserved.]
AS 08.88.331 Making of transactions.
0.4K chars
An active real estate salesperson or associate real estate broker may perform activities for which a real estate license is required only through the real estate broker who employs or contracts with the licensee. All money or other proceeds collected in trust and related to a rea…
AS 08.88.340 [Repealed, § 3 ch 95 SLA 1964.]
0.0K chars
[Repealed or reserved.]
AS 08.88.341 Listings or management contracts.
0.5K chars
All real estate listings or management contracts must be in writing and must be signed by the broker or associated licensee of the broker and by the client or an authorized representative of the client for whose benefit the real estate licensee will act. All real estate exclusive…
AS 08.88.350 [Repealed, § 3 ch 95 SLA 1964.]
0.0K chars
[Repealed or reserved.]
AS 08.88.351 Accounts; records of transactions.
2.9K chars
(a) A real estate broker shall (1) keep a complete record, for three years, of all real estate transactions in which the broker or employed licensees of the broker engaged; (2) provide upon request to any principal in a transaction an accounting for all money or other property co…
AS 08.88.360 [Repealed, § 3 ch 95 SLA 1964.]
0.0K chars
[Repealed or reserved.]
AS 08.88.361 When commission is earned.
0.1K chars
A commission is earned when the real estate broker fulfills the terms of a written personal services contract.
AS 08.88.370 [Repealed, § 3 ch 95 SLA 1964.]
0.0K chars
[Repealed or reserved.]
AS 08.88.371 [Renumbered as AS 08.88.071(c).]
0.0K chars
[Repealed or reserved.]
AS 08.88.380 [Repealed, § 3 ch 95 SLA 1964.]
0.0K chars
[Repealed or reserved.]
AS 08.88.381 Signs.
0.7K chars
A real estate broker shall maintain a sign at each of the broker's registered real estate offices prominently showing the name of the real estate business as registered with the commission. The required size, content, and location of signs under this section may be determined by …
AS 08.88.390 [Repealed, § 3 ch 95 SLA 1964.]
0.0K chars
[Repealed or reserved.]
AS 08.88.391 Conflict of interest.
1.8K chars
(a) A real estate licensee who has a conflict of interest relating to a real estate transaction shall disclose that conflict of interest to the persons adversely affected by the conflict or their real estate licensees and confirm the conflict of interest in writing to the persons…
AS 08.88.396 Licensee relationships, disclosures, and activity before January 1, 2005.
3.2K chars
(a) A person licensed under this chapter shall, when acting as a real estate licensee for a prospective seller or lessor of real estate, (1) disclose in writing the licensee's agency relationship with the seller or lessor to each prospective buyer or lessee at the time that the l…
AS 08.88.398 Licensed assistants.
1.2K chars
A licensed real estate salesperson or licensed associate real estate broker may act as a licensed assistant to another licensed salesperson or associate real estate broker only if (1) the licensed assistant and the salesperson or associate broker are both employed by the same bro…
AS 08.88.400 [Repealed, § 3 ch 95 SLA 1964.]
0.0K chars
[Repealed or reserved.]
AS 08.88.401 Prohibited conduct; penalties.
3.1K chars
(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 …
AS 08.88.403 Review of transactions.
0.2K chars
A real estate broker may contract with and pay an attorney or associate broker to assist the broker to review a real estate transaction before the transaction closes.
AS 08.88.405 Preparation of documents.
0.5K chars
Notwithstanding AS 08.08, a person licensed as a real estate broker, associate real estate broker, or real estate salesperson under this chapter may prepare real property contracts, earnest money agreements, leases, and other documents related to real property if the documents ar…
AS 08.88.410 Secs. 08.88.410 — 08.88.420. [Repealed, § 3 ch 95 SLA 1964.]
0.0K chars
[Repealed or reserved.]
AS 08.88.421 [Renumbered as AS 08.88.900.]
0.0K chars
[Repealed or reserved.]
AS 08.88.430 [Repealed, § 3 ch 95 SLA 1964.]
0.0K chars
[Repealed or reserved.]
AS 08.88.431 [Renumbered as AS 08.88.990.]
0.0K chars
[Repealed or reserved.]
AS 08.88.440 [Repealed, § 3 ch 95 SLA 1964.]
0.0K chars
Article 4. Real Estate Recovery Fund.
AS 08.88.450 Real estate recovery fund.
1.6K chars
(a) The real estate recovery fund is established in the general fund to carry out the purposes of AS 08.88.450 — 08.88.495. The fund is composed of payments made by real estate licensees under AS 08.88.455, filing fees retained under AS 08.88.460, income earned on investment of t…
AS 08.88.455 Payments by real estate licensees.
1.1K chars
(a) A real estate licensee, when applying for or renewing a real estate license, in lieu of obtaining a corporate surety bond, shall pay to the commission, in addition to the license fee, a recovery fund fee not to exceed $125. After each two-year licensing cycle, if the commissi…
AS 08.88.460 Claim for payment.
2.9K chars
(a) Subject to (e) of this section, a person seeking an award from the recovery fund for a loss suffered in a real estate transaction as a result of fraud, an intentional tort, deceit, or the conversion of trust funds or the conversion of community association accounts under the …