57-19-16. Denial, revocation, or suspension of registration of salesperson -- Fine.
(1) Subject to Section, if the division finds that an applicant or salesperson has engaged in an act described in Subsection, the division may: 57-19-17 (2) deny an application for registration as a salesperson; suspend or revoke an existing registration; or impose a civil penalty not to exceed $5,000.
(2) Subsectionapplies if the division finds that the applicant or salesperson: (1) files, or causes to be filed, with the division a document that contains untrue or misleading information; makes an untrue or misleading statement of material fact; fails to state a material fact that is necessary in order to make the statements made not misleading in light of the circumstances under which the statements are made; employs a device, scheme, or artifice to defraud, or engages in an act, practice, or course of business that operates or would operate as a fraud or deceit upon a person; subsequent to the effective date of registration as a salesperson, is: convicted of: a felony; or a misdemeanor involving theft, fraud, or dishonesty; or enjoined from, assessed a civil penalty for, or found to have engaged in a violation of any law designed to protect consumers; violates this chapter; engages in an activity that constitutes dishonest dealing; or engages in unprofessional conduct as defined by statute or rule made by the director.