§514A-107.5 - Penalties.
§514A-107.5 Penalties. (a) Any person who executes an affidavit required by this part and violates or fails to comply with any of the provisions of this part or any rule adopted by the commission pursuant thereto shall be subject to a civil penalty of up to $10,000 or fifty per cent of the net proceeds received or to be received by the person from the sale, lease, rental, assignment, or other transfer of the residential apartment to which the violation relates, whichever is the greater.
(b) Any developer, employee or agent of a developer, or real estate licensee who violates or fails to comply with any of the provisions of this part or any rule adopted by the commission pursuant thereto shall be subject to a civil penalty of up to $10,000. Each violation shall constitute a separate offense. [L 1992, c 50, pt of §1; am L 2000, c 210, §10]