- (a) Any applicant or licensee who shall submit in payment of any fee a check or bank draft that is not honored by the bank shall not be eligible to receive a license from the Arkansas Real Estate Commission until such time as such check or bank draft is paid.
(b)
(1) The commission shall:
- (A) Charge a fee not to exceed twenty-five dollars ($25.00) for a dishonored check or bank draft; and
- (B) Also require such check or bank draft to be made good immediately by the maker.
- (2) If such person shall be a real estate salesperson, associate broker, or executive broker, and shall fail to make such check or bank draft good, the commission may require payment of such funds from the principal broker with whom such person is licensed.