Disciplinary Action

The Real Estate Licensing Board revoked the broker's license of Lynn H. McIntyre, formerly of Southern Pines, upon finding that she failed to deposit rental receipts and security deposits in her escrow account, wrote checks payable to "cash" drawn on her escrow account without proper documentation of the reasons therefor, failed to account to her principal for funds received in a fiduciary capacity, and wrote a check drawn on her escrow account that was returned for insufficient funds.

The Licensing Board suspended the broker's license of John T. L. Phelan of Highlands for 90 days upon finding that Mr. Phelan had been convicted in the Superior Court of Macon County on three counts of misdemeanor larceny. The Board further ordered that Mr. Phelan be issued a salesman's license upon the expiration of his suspension and upon proper application, but to permit him to apply for re-instatement of his broker's license upon termination of his probationary sentence in the criminal case.

The Licensing Board by Consent Order reprimanded Asheboro broker Kenneth F. Clark for deliberately notifying a multiple listing service that a certain property had been sold, when in fact the property had been taken off the market and was never sold.

The Licensing Board by Consent Order suspended the salesman's license of Carl E. Helton of Charlotte for 60 days. It was stipulated that Mr. Helton had offered to purchase certain property for $240,000, and that his purchase contract specified that he would deposit a $5,000 binder in the escrow account of his firm, Harbin Investors, Inc. However, Mr. Helton failed to disclose to the sellers that such funds had not been deposited in escrow. Mr. Helton defaulted on his purchase contract and failed to pay over the binder upon demand of the owners until after a complaint had been filed with the Board. Mr. Helton did represent to the Board that he had reached agreement with the sellers to repay the $5,000. The Board also reprimanded Mr. Helton's supervising broker, James Douglas Helton, for failing to properly supervise the activities of Mr. Carl Helton.

The Licensing Board by Consent Order suspended the broker's license of Walter Thomas Vick of Fayetteville for 75 days for preparing an offer to purchase in an incompetent and dangerous manner, and for failing to properly account for funds paid to him. In addition to the suspension, the Board ordered Mr. Vick to repay the funds to the complainant with interest.

The Licensing Board suspended the license of High Point broker Thomas J. Welch for 120 days after finding that Mr. Welch had falsely certified to a lending institution that he was holding a deposit. However, because Mr. Welch forthrightly admitted his error and since no one had been damaged as a result of the transaction, the Board suspended its Order and placed Mr. Welch on probation until May 1, 1981. Should Mr. Welch violate any of the Board's statutes or regulations, the suspension will automatically go into effect.

The Licensing Board by Consent Order reprimanded salesman Paul Phillip Dunlap of Durham for failing to deposit an earnest money check in his escrow account, and for failing to deliver it to his supervising broker.