45:15-41 - Revocation of license upon issuance of court order for payment from fund - New Jersey Statutes

45:15-41  Revocation of license upon issuance of court order for payment from fund.

8.Upon the issuance of a court order for payment from the real estate guaranty fund the license of the broker, broker-salesperson, salesperson or referral agent, whose acts gave rise to the claim, shall be revoked and no such broker, broker-salesperson, salesperson or referral agent shall be eligible for reinstatement of his license until he shall have satisfied the judgment in full including reimbursement of the real estate guaranty fund together with interest. 

L.1976, c.112, s.8; amended 1993, c.51, s.40; 2009, c.238, s.22.