A. A person who engages in the business of an exchange facilitator isprohibited from:
1. Making any material misrepresentations concerning any exchange facilitatortransaction that are intended to mislead another;
2. Pursuing a continued course of misrepresentation or making falsestatements through advertising or otherwise;
3. Failing, within a reasonable time, to account for any moneys or propertybelonging to others that may be in the possession or under the control of theexchange facilitator;
4. Engaging in any conduct constituting fraudulent or dishonest dealings;
5. Committing any crime involving fraud, misrepresentation, deceit,embezzlement, misappropriation of funds, robbery, or other theft of property;
6. Materially failing to fulfill its contractual duties to the exchangeclient to deliver property or funds to the exchange client unless suchfailure is due to circumstances beyond the control of the exchangefacilitator; or
7. Materially violating any of the provisions of this chapter.
B. A person who is an owner, officer, director, or employee of an exchangefacilitator is prohibited from committing any crime involving fraud,misrepresentation, deceit, embezzlement, misappropriation of funds, robbery,or other theft of property; however, the commission of such crime by anofficer, director, or employee of an exchange facilitator shall not beconsidered a violation of this chapter if the employment or appointment ofsuch officer, director, or employee has been terminated and no clients of theexchange facilitator were harmed or full restitution has been made to allharmed clients within a reasonable period of time.
A. A person who engages in the business of an exchange facilitator isprohibited from:
1. Making any material misrepresentations concerning any exchange facilitatortransaction that are intended to mislead another;
2. Pursuing a continued course of misrepresentation or making falsestatements through advertising or otherwise;
3. Failing, within a reasonable time, to account for any moneys or propertybelonging to others that may be in the possession or under the control of theexchange facilitator;
4. Engaging in any conduct constituting fraudulent or dishonest dealings;
5. Committing any crime involving fraud, misrepresentation, deceit,embezzlement, misappropriation of funds, robbery, or other theft of property;
6. Materially failing to fulfill its contractual duties to the exchangeclient to deliver property or funds to the exchange client unless suchfailure is due to circumstances beyond the control of the exchangefacilitator; or
7. Materially violating any of the provisions of this chapter.
B. A person who is an owner, officer, director, or employee of an exchangefacilitator is prohibited from committing any crime involving fraud,misrepresentation, deceit, embezzlement, misappropriation of funds, robbery,or other theft of property; however, the commission of such crime by anofficer, director, or employee of an exchange facilitator shall not beconsidered a violation of this chapter if the employment or appointment ofsuch officer, director, or employee has been terminated and no clients of theexchange facilitator were harmed or full restitution has been made to allharmed clients within a reasonable period of time.
A. A person who engages in the business of an exchange facilitator isprohibited from:
1. Making any material misrepresentations concerning any exchange facilitatortransaction that are intended to mislead another;
2. Pursuing a continued course of misrepresentation or making falsestatements through advertising or otherwise;
3. Failing, within a reasonable time, to account for any moneys or propertybelonging to others that may be in the possession or under the control of theexchange facilitator;
4. Engaging in any conduct constituting fraudulent or dishonest dealings;
5. Committing any crime involving fraud, misrepresentation, deceit,embezzlement, misappropriation of funds, robbery, or other theft of property;
6. Materially failing to fulfill its contractual duties to the exchangeclient to deliver property or funds to the exchange client unless suchfailure is due to circumstances beyond the control of the exchangefacilitator; or
7. Materially violating any of the provisions of this chapter.
B. A person who is an owner, officer, director, or employee of an exchangefacilitator is prohibited from committing any crime involving fraud,misrepresentation, deceit, embezzlement, misappropriation of funds, robbery,or other theft of property; however, the commission of such crime by anofficer, director, or employee of an exchange facilitator shall not beconsidered a violation of this chapter if the employment or appointment ofsuch officer, director, or employee has been terminated and no clients of theexchange facilitator were harmed or full restitution has been made to allharmed clients within a reasonable period of time.
