Revocation of Registration as Dealers, Brokers or Salesmen.
Section 12
SECTION 12. Revocation of Registration as Dealers, Brokers or Salesmen. — Registration under the preceding section may be refused or any registration granted thereunder, revoked by the Authority if, after reasonable notice and hearing, it shall determine that such applicant or registrant: 1) Has violated any provision of this Decree or any rule or regulation made hereunder; or 2) Has made a material false statement in his application for registration; or 3) Has been guilty of a fraudulent act in connection with any sale of a subdivision lot or condominium unit; or 4) Has demonstrated his unworthiness, to transact the business of dealer, broker, or salesman, as the case may be. In case of charges against a salesman, notice thereof shall also be given the broker or dealer employing such salesman. Pending hearing of the case, the Authority shall have the power to order the suspension of dealer's, broker's, or salesman's registration; provided, that such order shall state the cause for the suspension. The suspension or revocation of the registration of a dealer shall carry with it all the suspension or revocation of the registrations of all his salesmen.