§ 2296. Unprofessional conduct
In addition to the conduct set forth in 3 V.S.A. § 129a, the following conduct by those regulated under this chapter constitutes unprofessional
conduct:
(1) commingling money or other property to which the licensee’s clients or other persons
are entitled with the licensee’s own, except to the extent nominal sums of the licensee’s
funds may be required to maintain an open trust account;
(2) failing to inform clients, establish trust and escrow accounts, maintain records,
and otherwise act in accordance with the provisions of section 2214 of this chapter
with respect to all monies received by the licensee as a real estate broker, or as
escrow agent, or as the temporary custodian of the funds of others, in a real estate
transaction;
(3) failing promptly to segregate any properties received that are to be held for the
benefit of others;
(4) failing to fully disclose to a buyer all material facts within the licensee’s knowledge
concerning the property being sold;
(5) failing to fully disclose to a buyer the existence of an agency relationship between
the licensee and the seller. (Amended 1963, No. 66, §§ 3, 4; 1969, No. 283 (Adj. Sess.), § 8; 1979, No. 81, § 4, eff. May 10, 1979; 1985, No. 6, § 1; 1991, No. 86, § 6, eff. Jan. 1, 1992; 1997, No. 145 (Adj. Sess.), § 45; 2013, No. 27, § 29; 2017, No. 48, § 16; 2019, No. 30, § 16.)