§ 17-42-307 - Expiration and renewal.
17-42-307. Expiration and renewal.
(a) Every license, both active and inactive, shall expire on a date established by the Arkansas Real Estate Commission.
(b) (1) For each active licensee, the commission shall issue a new license for each ensuing renewal period in the absence of any reason or condition that might warrant the refusal of a license, upon receipt of a written request no later than ninety (90) days prior to the expiration of the license upon forms provided by the commission together with the renewal fee.
(2) (A) For any broker or salesperson who does not wish to engage in the real estate business, the license shall be renewed on inactive status, in the absence of any reason or condition that might warrant the refusal of a license, upon receipt of the written request of the applicant no later than ninety (90) days prior to the expiration of the license upon forms provided by the commission together with the renewal fee.
(B) However, the commission may limit the number of renewal periods in which a license may be renewed on inactive status.
(C) The renewal fee for inactive status shall be the same as for renewal of an active license.
(3) An application for renewal filed after the date established by the commission to renew a license shall be treated as an application to renew an expired license.
(c) If any person to whom a valid license has been issued permits the license to expire for a period not in excess of that established by the commission, the commission shall issue to the person a current license without requiring the person to submit to any examination if the person furnishes such information as the commission requires, including proof of completion of appropriate continuing education requirements, and pays such fee as the commission requires.
(d) (1) New salesperson and broker licensees shall complete post-licensure education in accordance with 17-42-303(c).
(2) If the licensee fails to complete the post-licensure education requirements within twelve (12) months after the date the license was issued, the commission shall place the license on inactive status until the commission receives documentation that the licensee has completed the post-licensure education requirements.