Arkansas License Law
The Arkansas Real Estate Recovery Fund has a minimum balance requirement. When the fund falls below the minimum, each broker must:
AContribute $100 to the fund
BContribute an assessment as required by AREC to replenish the fund✓ Correct
CMatch claims dollar-for-dollar
DSuspend operations until the fund is replenished
Explanation
If the Recovery Fund falls below the statutory minimum, AREC may assess licensees to replenish the fund. All active licensees contribute to maintain the fund's viability for consumer protection.
Related Arkansas Arkansas License Law Questions
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- Which statement best describes the Arkansas Real Estate Recovery Fund?
- An Arkansas real estate licensee acting as a principal (buying property for themselves) must disclose:
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