HARRY HUGHES, Governor

3227

(II)  UPON RECEIPT OF A CLAIM, THE COMMISSION
SHALL FORWARD A COPY OF THE CLAIM TO THE LICENSEE(S) ALLEGED TO
BE RESPONSIBLE FOR THE MONETARY LOSS OF THE CLAIMANT, AND SHALL
REQUEST A WRITTEN RESPONSE TO THE ALLEGATIONS SET FORTH IN THE
CLAIM WITHIN 10 DAYS. AFTER REVIEW OF BOTH THE CLAIM AND THE
RESPONSE, IF ONE IS RECEIVED AND ANY INVESTIGATION, THE
COMMISSION SHALL SET THE MATTER FOR HEARING OR DISMISS THE CLAIM
IF FRIVOLOUS, MADE IN BAD FAITH, OR LEGALLY INSUFFICIENT.

(III)  WHEN A CLAIM ALLEGES MONETARY LOSS CAUSED
BY MISCONDUCT OF A CURRENTLY LICENSED REAL ESTATE BROKER OR
SALESPERSON, THE COMMISSION SHALL JOIN THE PROCEEDING ON THE
CLAIM WITH ANY PROCEEDING AGAINST THE LICENSEE ON CHARGES OF
VIOLATION OF THIS SUBTITLE ARISING FROM THE SAME FACTS AND
CIRCUMSTANCES ALLEGED IN THE CLAIM. IN SUCH A PROCEEDING, THE
CLAIMANT SHALL BE A PARTY AND MAY PARTICIPATE IN THE HEARING TO
THE EXTENT NECESSARY TO ESTABLISH THE CLAIM. BEFORE DIRECTING
PAYMENT FROM THE REAL ESTATE GUARANTY FUND, THE COMMISSION SHALL
CONCLUDE THAT THE ACTION OF THE LICENSEE CAUSING MONETARY LOSS TO
THE CLAIMANT CONSTITUTES VIOLATION OF THE PROVISIONS OF THIS
SUBTITLE FOR WHICH THE LICENSEE WAS CHARGED.

(IV) IF THE COMMISSION SETS A CLAIM FOR HEARING
BUT DOES NOT SIMULTANEOUSLY ISSUE CHARGES AGAINST A CURRENTLY
LICENSED REAL ESTATE BROKER OR SALESPERSON FOR VIOLATION OF THIS
SUBTITLE, THE COMMISSION SHALL BE BARRED FROM ISSUING CHARGES AT
A LATER DATE AGAINST THE LICENSEE ALLEGED TO BE RESPONSIBLE FOR
THE CLAIM, IF SUCH CHARGES ARISE FROM THE SAME FACTS AND
CIRCUMSTANCES ALLEGED IN THE CLAIM.

(IV) NOTHING CONTAINED IN THIS SECTION SHALL
LIMIT THE AUTHORITY OF THE COMMISSION TO TAKE DISCIPLINARY ACTION
AGAINST ANY LICENSEE FOR ANY VIOLATION OF THIS SUBTITLE, NOR
SHALL THE REPAYMENT IN FULL BY A LICENSEE OF THE AMOUNT PAID FROM
THE FUND ON SUCH LICENSEE'S ACCOUNT NULLIFY OR MODIFY THE EFFECT
OF ANY DISCIPLINARY PROCEEDING AGAINST SUCH LICENSEE FOR ANY SUCH
VIOLATION.

[(ii)] (V) A claim under this section shall be
brought within 3 years after the party discovers, or by the
exercise of ordinary diligence should have discovered, the loss
or damage.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1984.

Approved May 29, 1984.