Title 08 — Business and Professions
52 chapters · 1,415 sections in this title.
AS 08.88.131 Applicability of the Administrative Procedure Act.
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AS 44.62 (Administrative Procedure Act) applies to regulations and proceedings under this chapter.
AS 08.88.140 [Repealed, § 3 ch 95 SLA 1964.]
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[Repealed or reserved.]
AS 08.88.141 Compensation.
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A commission member is entitled to transportation expenses and per diem allowances specified in AS 39.20.180.
AS 08.88.150 Secs. 08.88.150 — 08.88.160. [Repealed, § 3 ch 95 SLA 1964.]
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Article 2. Licensing.
AS 08.88.161 License required.
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Unless licensed as a real estate broker, associate real estate broker, or real estate salesperson in this state, a person may not, except as otherwise provided in this chapter, (1) sell, exchange, rent, lease, auction, or purchase real estate; (2) list real estate for sale, excha…
AS 08.88.165 Conduct of auctions.
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Notwithstanding AS 08.88.161, a person who is not licensed under this chapter may conduct an auction of real estate if (1) the person has completed an auctioneering program at a school certified by an agency of this or another state, and the program included a course on real esta…
AS 08.88.167 Civil penalty for unlicensed or unauthorized practice.
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(a) In addition to penalties prescribed by any other provision of law, if a person engages or offers to engage in an activity for which a license is required under AS 08.88.161 without being licensed or authorized to engage in the activity in accordance with the provisions of thi…
AS 08.88.170 [Repealed, § 3 ch 95 SLA 1964.]
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[Repealed or reserved.]
AS 08.88.171 Eligibility for license.
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(a) A natural person qualifies for a real estate broker license if the person passes the brokers examination, applies for a license within six months after passing the examination, furnishes satisfactory proof of successful completion of the education requirements of AS 08.88.091…
AS 08.88.172 Errors and omissions insurance.
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(a) A person licensed as a real estate broker, associate real estate broker, or real estate salesperson shall, as a condition of licensing, carry and maintain errors and omissions insurance to cover activities for which licensing is required under AS 08.88.161. (b) The department…
AS 08.88.173 Fidelity bond for community association managers.
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(a) If the board of directors of a community association allows a broker to exercise control over community association fees or other community association funds, the broker must provide evidence to the commission that the broker is covered by a blanket fidelity insurance bond. T…
AS 08.88.175 Limitations on community association managers.
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A licensee may not, within the practice of community association management, exercise control over the (1) reserves or investment accounts of a community association; (2) operating account of a community association unless (A) allowed under a contract that has been approved by th…
AS 08.88.180 [Repealed, § 3 ch 95 SLA 1964.]
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[Repealed or reserved.]
AS 08.88.181 Content and purpose of examination.
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(a) The real estate examinations may include questions on real estate business ethics and standards; arithmetic and accounting; elementary principles of land economics and appraisal; the general principles in state statutes relating to deeds, mortgages, real estate contracts, sub…
AS 08.88.190 [Repealed, § 3 ch 95 SLA 1964.]
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[Repealed or reserved.]
AS 08.88.191 Administration of examination.
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(a) The commission shall offer written examinations at periodic intervals but at least once a year. (b) If the commission authorizes the department to contract with a national testing service to prepare, administer, and grade examinations, (1) the commission or its designee shall…
AS 08.88.200 [Repealed, § 3 ch 95 SLA 1964.]
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[Repealed or reserved.]
AS 08.88.201 Reexamination.
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A person who fails an examination may apply for a subsequent examination, but shall pay the application fee with each application.
AS 08.88.210 [Repealed, § 3 ch 95 SLA 1964.]
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[Repealed or reserved.]
AS 08.88.211 Qualification for examination. [Repealed, § 42 ch 167 SLA 1980. For current law, see AS 08.88.171.]
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[Repealed or reserved.]
AS 08.88.220 [Repealed, § 3 ch 95 SLA 1964.]
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[Repealed or reserved.]
AS 08.88.221 Fees.
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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.]
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[Repealed or reserved.]
AS 08.88.231 Deposit in general fund. [Repealed, § 9 ch 74 SLA 1987.]
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[Repealed or reserved.]
AS 08.88.240 [Repealed, § 3 ch 95 SLA 1964.]
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[Repealed or reserved.]
AS 08.88.241 Reinstatement of lapsed license.
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(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.]
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[Repealed or reserved.]
AS 08.88.251 Inactive license.
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(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.]
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[Repealed or reserved.]
AS 08.88.261 Out-of-state licenses. [Repealed, § 7 ch 105 SLA 1990.]
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Article 3. Miscellaneous Provisions.
AS 08.88.263 License by endorsement.
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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.]
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[Repealed or reserved.]
AS 08.88.281 Real estate recovery fund.
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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.]
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[Repealed or reserved.]
AS 08.88.291 Location; contact information.
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(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.]
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[Repealed or reserved.]
AS 08.88.301 Change of location.
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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.
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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.]
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[Repealed or reserved.]
AS 08.88.311 Branch offices.
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(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.]
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[Repealed or reserved.]
AS 08.88.321 Possession and display of license certificates.
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(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.]
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[Repealed or reserved.]
AS 08.88.331 Making of transactions.
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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.]
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[Repealed or reserved.]
AS 08.88.341 Listings or management contracts.
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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.]
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[Repealed or reserved.]
AS 08.88.351 Accounts; records of transactions.
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(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.]
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[Repealed or reserved.]
AS 08.88.361 When commission is earned.
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A commission is earned when the real estate broker fulfills the terms of a written personal services contract.