108k views
3 votes
DFPR may fine or penalize real estate agents in Illinois. Any monetary penalties are deposited in the:

a) License Administration Fund.
b) Real Estate Recovery Fund.
c) Real Estate Research and Education Fund.
d) General State Treasury.

User Grapsus
by
8.0k points

1 Answer

3 votes

Final answer:

Monetary penalties collected from real estate agents by DFPR in Illinois are deposited into the Real Estate Recovery Fund, which serves as a reimbursement source for affected individuals.

Step-by-step explanation:

In Illinois, when real estate agents are fined or penalized by the Department of Financial and Professional Regulation (DFPR), any monetary penalties collected are deposited into the Real Estate Recovery Fund. This fund is specifically designed to reimburse individuals who have suffered monetary losses due to the inappropriate actions of a licensed real estate professional. It's important for agents to be aware of the implications of their professional conduct and the potential financial penalties that could result from DFPR disciplinary actions.

User Kuffs
by
7.9k points