What is the potential fine range for second-time offenders in a corporation, association, or partnership according to the WVREC?

The potential fine range for second-time offenders in a corporation, association, or partnership according to the West Virginia Real Estate Commission (WVREC) is established to ensure accountability and compliance with regulations. A fine range of $5,000 to $10,000 reflects an understanding of the seriousness of repeated violations while also considering the nature of the entity involved.

Corporations, associations, and partnerships are often held to a higher standard due to their capacity for conducting real estate business on a larger scale. Such fines serve as a deterrent against non-compliance and are meant to promote adherence to ethical practices and legal standards within the real estate industry.

By setting this range, the WVREC emphasizes the importance of following real estate laws and regulations, and the fines increase with repeat offenses to reinforce this message. The intention is not just punitive; it aims to encourage entities to reform their practices and operate lawfully moving forward.