Oklahoma License Law
Oklahoma's Real Estate Education and Recovery Fund provides:
AScholarships for students in OREC-approved courses
BCompensation to consumers who suffer monetary losses due to licensee misconduct✓ Correct
CFunding for OREC's administrative operations
DReimbursement to brokers for errors and omissions
Explanation
Oklahoma's Real Estate Education and Recovery Fund (part of OREC) provides compensation to eligible consumers who suffer actual monetary losses caused by dishonest or fraudulent acts of a licensed real estate agent, up to statutory limits.
Related Oklahoma Oklahoma License Law Questions
- An Oklahoma real estate licensee who acts as a property manager must have the owner's written authorization (property management agreement) before they can:
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- Oklahoma's E&O insurance requirement for licensees was implemented to:
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- A licensee in Oklahoma who has been suspended by OREC may:
- Under Oklahoma law, a broker who receives a complaint about a licensee in their firm must:
- Oklahoma's OREC can assess a civil fine against a licensee of up to:
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