                                 CODE OF VIRGINIA

REVOCATION OF LICENSE OF REGULANT UPON PAYMENT FROM FUND (§ 54.1-2119)

Upon payment by the Director to a claimant from the fund as provided in §
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.

HISTORY: 1977, c. 69, § 54-765.8; 1984, c. 266; 1987, c. 555; 1988, c. 765.