Vermont Statutes Annotated

Vt. Stat. Ann. tit. 26, § 2296 (2026)

✓ current as of May 2026

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Subchapter 003 : LICENSES

(Cite as: 26 V.S.A. § 2296)

§ 2296. Unprofessional conduct

In addition to the conduct set forth in 3 V.S.A. § 129a, the following conduct by those regulated under this chapter constitutes unprofessional conduct:

(1) commingling money or other property to which the licensee’s clients or other persons are entitled with the licensee’s own, except to the extent nominal sums of the licensee’s funds may be required to maintain an open trust account;

(2) failing to inform clients, establish trust and escrow accounts, maintain records, and otherwise act in accordance with the provisions of section 2214 of this chapter with respect to all monies received by the licensee as a real estate broker, or as escrow agent, or as the temporary custodian of the funds of others, in a real estate transaction;

(3) failing promptly to segregate any properties received that are to be held for the benefit of others;

(4) failing to fully disclose to a buyer all material facts within the licensee’s knowledge concerning the property being sold;

(5) failing to fully disclose to a buyer the existence of an agency relationship between the licensee and the seller. (Amended 1963, No. 66, §§ 3, 4; 1969, No. 283 (Adj. Sess.), § 8; 1979, No. 81, § 4, eff. May 10, 1979; 1985, No. 6, § 1; 1991, No. 86, § 6, eff. Jan. 1, 1992; 1997, No. 145 (Adj. Sess.), § 45; 2013, No. 27, § 29; 2017, No. 48, § 16; 2019, No. 30, § 16.)

Notes of Decisions

Cited in 6 cases, 1981–1998 · leading case: In Re Desautels Real Est., Inc., 457 A.2d 1361 (Vt. 1982).

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In Re Desautels Real Est., Inc., 457 A.2d 1361 (Vt. 1982). · cites it 7× “The Commission is empowered under this statute to suspend the license of any broker or salesperson for such period as it may consider proper if the licensee is found to have engaged in any act or conduct which contributes or demonstrates bad faith or untrustworthiness as a…”

Carter v. Gugliuzzi, 716 A.2d 17 (Vt. 1998). “” 26 V.S.A. § 2296(a)(10). Since the statute governing a real estate agent’s duty to disclose made “no distinction as to the source of the knowledge,” the court concluded that such knowledge was similarly imputable to the agent’s principal regardless of the source.”

In re Bassette, 518 A.2d 15 (Vt. 1986). · cites it 3× “The Commission specifically found that appellant violated the applicable standard of trustworthiness under 26 V.S.A. § 2296(a) when he entered into competition with S & E for the turnkey proposal without first fully disclosing this fact.”

In re Rendell-Baker, 436 A.2d 739 (Vt. 1981). “The commission found the appellants had demonstrated incompetency and untrustworthiness to act as a real estate broker and salesman within the meaning of 26 V.S.A. § 2296(a). That statute empowers the commission to suspend the license of any real estate broker or salesman for a…”

In re John Campbell Realty, Inc., 516 A.2d 138 (Vt. 1986). · cites it 3× “The Commission found that Campbell and Brown had demonstrated untrustworthiness and bad faith in their conduct involving the sale of a farm, and imposed the sanctions pursuant to 26 V.S.A. § 2296. We affirm. The facts of this case are complicated.”

In re Campbell, 536 A.2d 544 (Vt. 1987). · cites it 3× “The Commission found that Campbell violated 26 V.S.A. § 2296 by engaging in dishonest fraudulent dealings for personal gain by violating his duty as escrow agent to release the escrow funds.”

— Vt. Stat. Ann. tit. 26, § 2296(a) — 3 cases

In Re Desautels Real Est., Inc., 457 A.2d 1361 (Vt. 1982). “The Commission is empowered under this statute to suspend the license of any broker or salesperson for such period as it may consider proper if the licensee is found to have engaged in any act or conduct which contributes or demonstrates bad faith or untrustworthiness as a…”

In re Bassette, 518 A.2d 15 (Vt. 1986). “The Commission specifically found that appellant violated the applicable standard of trustworthiness under 26 V.S.A. § 2296(a) when he entered into competition with S & E for the turnkey proposal without first fully disclosing this fact.”

In re Rendell-Baker, 436 A.2d 739 (Vt. 1981). “The commission found the appellants had demonstrated incompetency and untrustworthiness to act as a real estate broker and salesman within the meaning of 26 V.S.A. § 2296(a). That statute empowers the commission to suspend the license of any real estate broker or salesman for a…”

— Vt. Stat. Ann. tit. 26, § 2296(a)(10) — 1 case

Carter v. Gugliuzzi, 716 A.2d 17 (Vt. 1998). “” 26 V.S.A. § 2296(a)(10). Since the statute governing a real estate agent’s duty to disclose made “no distinction as to the source of the knowledge,” the court concluded that such knowledge was similarly imputable to the agent’s principal regardless of the source.”

— Vt. Stat. Ann. tit. 26, § 2296(a)(3) — 3 cases

In re Bassette, 518 A.2d 15 (Vt. 1986). “The Commission specifically found that appellant violated the applicable standard of trustworthiness under 26 V.S.A. § 2296(a) when he entered into competition with S & E for the turnkey proposal without first fully disclosing this fact.”

In re Campbell, 536 A.2d 544 (Vt. 1987). “The Commission found that Campbell violated 26 V.S.A. § 2296 by engaging in dishonest fraudulent dealings for personal gain by violating his duty as escrow agent to release the escrow funds.”

In re John Campbell Realty, Inc., 516 A.2d 138 (Vt. 1986). “The Commission found that Campbell and Brown had demonstrated untrustworthiness and bad faith in their conduct involving the sale of a farm, and imposed the sanctions pursuant to 26 V.S.A. § 2296. We affirm. The facts of this case are complicated.”

— Vt. Stat. Ann. tit. 26, § 2296(d) — 1 case

In Re Desautels Real Est., Inc., 457 A.2d 1361 (Vt. 1982). “The Commission is empowered under this statute to suspend the license of any broker or salesperson for such period as it may consider proper if the licensee is found to have engaged in any act or conduct which contributes or demonstrates bad faith or untrustworthiness as a…”

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