57-11-14. Revocation, suspension, or denial of registration -- Grounds -- Suspension or revocation of license.
(1) If the division makes a written finding of fact that a subdivider engages in one or more acts described in Subsection, the division may: (1)(b) deny an application for registration; revoke, suspend, or deny reissuance of a registration; or impose a civil penalty not to exceed the greater of: $2,500 for each violation; or the amount of any gain or economic benefit derived from each violation. Subsectionapplies if the division makes a written finding of fact that a subdivider: (1)(a) fails to comply with the terms of a cease and desist order; is convicted in a court prior or subsequent to the filing of the application for registration of a crime involving: fraud; deception; false pretenses; misrepresentation; false advertising; or dishonest dealing in real estate transactions; is subject to an injunction or administrative order restraining a false or misleading promotional plan involving land dispositions; disposes of, conceals, or diverts funds or assets of any person so as to defeat the rights of subdivision purchasers; fails to perform faithfully a stipulation or agreement made with the division as an inducement to: grant a registration; reinstate a registration; revoke a cease and desist order; or approve any promotional plan or public offering statement; makes an intentional misrepresentation, or conceals a material fact, in an application for registration; violates this chapter or the rules adopted under this chapter; directly or through an agent or employee knowingly engages in false, deceptive, or misleading advertising, promotional, or sales methods to offer or dispose of an interest in subdivided lands; engages in the offering of subdivided lands that has constituted or that may constitute a fraud upon purchasers or prospective purchasers of the subdivided lands; or engages in a dishonest practice in any industry involving sales to consumers. The division shall accompany with a finding of fact required by this Subsectiona concise and explicit statement of the underlying facts supporting the finding. (1)
(2) As an alternative to revoking the registration of a subdivider, the director may issue a cease and desist order if after notice and a hearing the director finds that the subdivider is guilty of a violation for which revocation may be ordered.
(3) The division shall suspend or revoke the license of a principal broker, associate broker, or sales agent who violates this chapter for the period of time the director determines to be justified under the circumstances. A suspension or revocation under this section is in addition to any other penalty that may be imposed under this chapter, subject to Section. 61-2f-404