For the past several months, fines for non-lockbox penalty violations were not being issued while ARMLS educated Subscribers on the new rules. Starting July 9th, fines will be issued for penalty violations.
The new Penalty Policy is a transition to a flat fine based penalty system instead of a confusing level system. Before, most non-lockbox violations were assessed on a progressive level system but now flat fines are based on the seriousness of the violation.
To better prepare Subscribers for enforcement, from July 9, 2015 until January 1, 2016, all non-lockbox penalties will be assessed at 50% of the listed amounts. This phased approach will help Subscribers understand the new policy.
Additionally, the fine for Contact Information in Media (8.23) was changed from a $500 fine to a $200 fine.
Avoid penalties by learning more about the rules at ARMLS.com.