AK SB158

Amends AS 08.88.071(a) to add new disciplinary grounds for the Real Estate Commission, including failure to carry and maintain errors and omissions insurance with terms established by the commission.

Creates a new temporary permit authority allowing the commission to designate a licensee to manage a broker's real estate business if an investigation shows misappropriation of trust funds, the broker's license is suspended, or the broker is incapacitated due to traumatic event or medical condition.

Amends AS 08.88.398 to clarify that licensed assistants (real estate salespersons or associate brokers) may only work for another licensed salesperson or associate broker if both are employed by the same broker and the arrangement is approved in writing by their employer broker.

Amends AS 08.88.401(e) to allow licensees to make payments to persons licensed in other jurisdictions for real estate activities assistance and to make charitable contributions with advertisement of the donation intent.

Effective date is July 1, 2012.