{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/54.1-2119.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/54.1-2119.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/54.1-2119.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/54.1-2119.html"}],"law_id":72764,"edition_id":1,"section_id":72764,"structure_id":14466,"section_number":"54.1-2119","catch_line":"Revocation of license of regulant upon payment from fund","history":"1977, c. 69, \u00a7 54-765.8; 1984, c. 266; 1987, c. 555; 1988, c. 765.","full_text":"Upon payment by the Director to a claimant from the fund as provided in \u00a7 54.1-2118, the Board shall immediately revoke the license of the regulant whose improper or dishonest conduct, as defined in the act, resulted in payment from the fund. The regulant whose license was so revoked shall not be eligible to apply for a license as a real estate broker or real estate salesperson until he has repaid in full the amount paid from the fund on his account, plus interest at the judgment rate of interest from the date of payment from the fund.","order_by":null,"text":{"0":{"id":262074,"text":"Upon payment by the Director to a claimant from the fund as provided in \u00a7 54.1-2118, the Board shall immediately revoke the license of the regulant whose improper or dishonest conduct, as defined in the act, resulted in payment from the fund. The regulant whose license was so revoked shall not be eligible to apply for a license as a real estate broker or real estate salesperson until he has repaid in full the amount paid from the fund on his account, plus interest at the judgment rate of interest from the date of payment from the fund.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":14466,"edition_id":1,"name":"Virginia Real Estate Transaction Recovery Act","identifier":"2","label":"article","depth":4,"order_by":1,"parent_id":12756,"metadata":{},"date_created":"2026-06-26 03:48:14","date_modified":"2026-06-26 03:48:14","permalink":{"id":240015,"object_type":"structure","relational_id":14466,"identifier":"2","token":"54.1\/II\/21\/2","url":"\/54.1\/II\/21\/2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12756,"edition_id":1,"name":"Real Estate Brokers, Sales Persons and Rental Location Agents","identifier":"21","label":"chapter","depth":3,"order_by":1,"parent_id":12755,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":239911,"object_type":"structure","relational_id":12756,"identifier":"21","token":"54.1\/II\/21","url":"\/54.1\/II\/21\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12755,"edition_id":1,"name":"Professions and Occupations Regulated by the Department of Professional and Occupational Regulation and Boards Within the Department","identifier":"II","label":"subtitle","depth":2,"order_by":1,"parent_id":12754,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":239415,"object_type":"structure","relational_id":12755,"identifier":"II","token":"54.1\/II","url":"\/54.1\/II\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12754,"edition_id":1,"name":"Professions and Occupations","identifier":"54.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":239313,"object_type":"structure","relational_id":12754,"identifier":"54.1","token":"54.1","url":"\/54.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":60222,"structure_id":14466,"section_number":"54.1-2112","catch_line":"Definitions","url":"\/54.1-2112\/","token":"54.1\/II\/21\/2\/54.1-2112","metadata":false},{"id":65698,"structure_id":14466,"section_number":"54.1-2113","catch_line":"Establishment and maintenance of fund, duty of Director, assessments of regulants","url":"\/54.1-2113\/","token":"54.1\/II\/21\/2\/54.1-2113","metadata":false},{"id":61533,"structure_id":14466,"section_number":"54.1-2114","catch_line":"Recovery from fund generally","url":"\/54.1-2114\/","token":"54.1\/II\/21\/2\/54.1-2114","metadata":false},{"id":69136,"structure_id":14466,"section_number":"54.1-2115","catch_line":"Investigations","url":"\/54.1-2115\/","token":"54.1\/II\/21\/2\/54.1-2115","metadata":false},{"id":59654,"structure_id":14466,"section_number":"54.1-2116","catch_line":"Limitations upon recovery from fund; certain actions not a bar to recovery","url":"\/54.1-2116\/","token":"54.1\/II\/21\/2\/54.1-2116","metadata":false},{"id":62973,"structure_id":14466,"section_number":"54.1-2117","catch_line":"Participation by Board in proceedings","url":"\/54.1-2117\/","token":"54.1\/II\/21\/2\/54.1-2117","metadata":false},{"id":55845,"structure_id":14466,"section_number":"54.1-2118","catch_line":"Payment of claim; assignment of claimant's rights to Board","url":"\/54.1-2118\/","token":"54.1\/II\/21\/2\/54.1-2118","metadata":false},{"id":72764,"structure_id":14466,"section_number":"54.1-2119","catch_line":"Revocation of license of regulant upon payment from fund","url":"\/54.1-2119\/","token":"54.1\/II\/21\/2\/54.1-2119","metadata":false},{"id":83015,"structure_id":14466,"section_number":"54.1-2120","catch_line":"No waiver by Board of disciplinary action against regulant","url":"\/54.1-2120\/","token":"54.1\/II\/21\/2\/54.1-2120","metadata":false}],"previous_section":{"id":55845,"structure_id":14466,"section_number":"54.1-2118","catch_line":"Payment of claim; assignment of claimant's rights to Board","url":"\/54.1-2118\/","token":"54.1\/II\/21\/2\/54.1-2118","metadata":false},"next_section":{"id":83015,"structure_id":14466,"section_number":"54.1-2120","catch_line":"No waiver by Board of disciplinary action against regulant","url":"\/54.1-2120\/","token":"54.1\/II\/21\/2\/54.1-2120","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/54.1-2119\/","history_text":"<p>This law was first created in 1977. The record of its establishment is cataloged in chapter 69 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1977 \u201cActs\u201d aren\u2019t available online. It has been modified 3 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1984, chapter 266; in 1987, chapter 555; in 1988, chapter 765.<\/p>","references":false,"refers_to":[{"id":55845,"section_number":"54.1-2118","catch_line":"Payment of claim; assignment of claimant's rights to Board","order_by":null,"url":"\/54.1-2118\/"}],"permalink":{"id":240045,"object_type":"law","relational_id":72764,"identifier":"54.1-2119","token":"54.1\/II\/21\/2\/54.1-2119","url":"\/54.1-2119\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/54.1-2119\/","token":"54.1\/II\/21\/2\/54.1-2119","dublin_core":{"Title":"Revocation of license of regulant upon payment from fund","Type":"Text","Format":"text\/html","Identifier":"\u00a7 54.1-2119","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>Upon payment by the <span class=\"dictionary\">Director<\/span> to a <span class=\"dictionary\">claimant<\/span> from the <span class=\"dictionary\">fund<\/span> as provided in \u00a7&nbsp;<a class=\"law\" title=\"Payment of claim; assignment of claimant&#039;s rights to Board\" href=\"\/54.1-2118\/\">54.1-2118<\/a>, the <span class=\"dictionary\">Board<\/span> shall immediately revoke the license of the <span class=\"dictionary\">regulant<\/span> whose <span class=\"dictionary\">improper or dishonest conduct<\/span>, as defined in the <span class=\"dictionary\">act<\/span>, resulted in payment from the <span class=\"dictionary\">fund<\/span>. The <span class=\"dictionary\">regulant<\/span> whose license was so revoked shall not be eligible to apply for a license as a <span class=\"dictionary\">real estate broker<\/span> or <span class=\"dictionary\">real estate salesperson<\/span> until he has repaid in full the amount paid from the <span class=\"dictionary\">fund<\/span> on his account, plus interest at the <span class=\"dictionary\">judgment<\/span> rate of interest from the date of payment from the <span class=\"dictionary\">fund<\/span>.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nREVOCATION OF LICENSE OF REGULANT UPON PAYMENT FROM FUND (\u00a7 54.1-2119)\n\nUpon payment by the Director to a claimant from the fund as provided in \u00a7\n54.1-2118, the Board shall immediately revoke the license of the regulant whose\nimproper or dishonest conduct, as defined in the act, resulted in payment from\nthe fund. The regulant whose license was so revoked shall not be eligible to\napply for a license as a real estate broker or real estate salesperson until he\nhas repaid in full the amount paid from the fund on his account, plus interest\nat the judgment rate of interest from the date of payment from the fund.\n\nHISTORY: 1977, c. 69, \u00a7 54-765.8; 1984, c. 266; 1987, c. 555; 1988, c. 765.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}