54.1-2119 - Revocation of license of regulant upon payment from fund. - Virginia Statutes

§ 54.1-2119. Revocation of license of regulant upon payment from fund.

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 regulantwhose improper or dishonest conduct, as defined in the act, resulted inpayment from the fund. The regulant whose license was so revoked shall not beeligible to apply for a license as a real estate broker or real estatesalesperson until he has repaid in full the amount paid from the fund on hisaccount, plus interest at the judgment rate of interest from the date ofpayment from the fund.

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