Grounds for disciplinary action. The Real Estate Commissioner may suspend or revoke registration of any residential property wholesaler, deny the issuance or renewal of registration to an applicant, or prohibit an individual licensed under ORS 696.022 from engaging in residential property wholesaling as otherwise provided in ORS 696.653 (4) if the wholesaler, applicant or individual has done any of the following

(1) Knowingly or negligently pursued a course of material misrepresentation in matters related to residential property wholesaling, whether or not damage or injury resulted, or knowingly or negligently made any material misrepresentation or material false promise in a matter related to residential property wholesaling if the material misrepresentation or material false promise created a reasonable probability of damage or injury, whether or not damage or injury actually resulted.

(2) Procured or attempted to procure a residential property wholesaler registration by fraud, misrepresentation or deceit or by making any material misstatement of fact in an application for a residential property wholesaler registration.

(3) Violated a provision of ORS 696.653 or 696.662.

(4) Engaged in any act or conduct, whether of the same or of a different character specified in this subsection, that constitutes or demonstrates bad faith, incompetence, untrustworthiness or dishonest, fraudulent or improper dealings. [2024 c.3 §6]

Note: See note under 696.650.