Page:United States Statutes at Large Volume 53 Part 2.djvu/881

 1357 53 STAT.] 76TH CONG., 1 ST SESS.-CH. 664-AUG. 10, 1939 (h) Demonstrated such unworthiness or incompetency to act as a real-estate broker or real-estate salesman or a business-chance broker or a business-chance salesman as to endanger the interests of the public; (i) While acting or attempting to act as agent or broker, purchased or attempted to purchase any property or interest therein for himself, either in his own name or by use of a straw party, without disclosing such fact to the party he represents; (j) Been guilty of any other conduct, whether of the same or a different character from that hereinbefore specified, which constitutes fraudulent or dishonest dealing; (k) Used any trade name or insignia of membership in any real- estate organization of which the licensee is not a member; (1) Disregarded or violated any provisions of this Act; (m) Guaranteed or authorized or permitted any broker or sales- man to guarantee future profits which may result from the resale of real property, or a business, business opportunity, or the goodwill of any existing business; (n) Placed a sign on any property offering it for sale or for rent or offering it for sale or rent without the written consent of the owner or his authorized agent; (o) Accepted a compensation from more than one party to a transaction without the knowledge of all the parties to the trans- action; or (p) Failed to restore the bond to its original amount after a recovery on the bond as provided in section 5. SEC. 9. Section 10 of said Act is amended by striking out the Stt 7 .. Code, period at the end of the first paragraph thereof and inserting in Supp.IV,sl 979. lieu thereof a comma, and by adding after such comma the follow- ing: "and with the further exception that a nonresident of the Dis- Nonresident bro- kers and salesmen. trict of Columbia need not maintain a place of business within the Maintenanceofplace District of Columbia if he is licensed in and maintains a place of f businessinD.C . business in the State in which he resides." SEC. 10. Section 12 of said Act is amended by adding at the end 2 ostt. . Coe, thereof the following: Sup. IV. Is1. "The exemption contained in this section shall not apply to any ,nanks,tesngage bank, trust company, building and loan association, insurance com- ,. len... xllltr pro- pany, or any land-mortgage or farm-loan association, which for visi'osof Act another and for a compensation, performs any of the acts defined herein as the acts of a real-estate broker or business-chance broker in connection with any property, wherein such bank, trust company, building and loan association, insurance company, land-mortgage or farm-loan association has no fiduciary interest such as receiver, referee, administrator, executor, guardian, or trustee." SEC. 11. Section 14 of said Act is amended by adding at the end 20 St Wt 7 .7 ode Supp. IV .1983. thereof the following: Supp.IV,1983. "It shall be unlawful within the District of Columbia for any Fraudulent trans- person, firm, partnership, association, or corporation, foreign or Inducing sale by domestic, either as owner or otherwise, to offer, give, award, or pre e lots or promise, or to use any method, scheme or plan offering, giving, awarding, or promising free lots in connection with the sale or the offering for sale or an attempt to sell or negotiate the sale of any real estate or interest therein, wherever situated, for the purpose of attracting, inducing, persuading, or influencing a purchaser or a prospective purchaser; or to offer, promise, or give prizes of any name or nature for attendance at or participation in any sale of real estate, by auction or otherwise. Paymentoffee etc. "It shall be unlawful for any person, firm, partnership, associa- nsedbroer. tion, or corporation knowingly to pay a fee, commission, or com-

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