58-3072. Same; payment from in settlement of claim; revocation of license until reimbursement of amount paid. - Kansas Statutes

58-3072

Chapter 58.--PERSONAL AND REAL PROPERTY Part 6.--MISCELLANEOUS PROVISIONS Article 30.--REAL ESTATE BROKERS AND SALESPERSONS

      58-3072.   Same; payment from in settlement of claim; revocation oflicense until reimbursement of amount paid.Upon the payment of any amount from the real estate recovery revolvingfund in settlement of a claim in satisfaction of a judgment against alicensed broker or salesperson, the license of such broker or salespersonshall be automatically revoked. No such broker or salesperson shall beeligible to receive a new license until the broker or salesperson has repaidin full the amount paidfrom the real estate recovery revolving fund on such broker's or salesperson'saccount plus interest on that amount at the rate provided by K.S.A.16-204 and amendments thereto for a judgment rendered on the same date that theamount was paid from the fund. Adischarge in bankruptcy shall not relieve a person from the penaltiesand disabilities provided in this section.

      History:   L. 1980, ch. 164, § 39;L. 1986, ch. 210, § 6; July 1.