38.2-1868.1 - Proof of compliance; late filing penalties, exemption or waiver.
§ 38.2-1868.1. Proof of compliance; late filing penalties, exemption orwaiver.
A. As used in this article:
"Proof of compliance" shall mean all documents, forms and fees specified bythe Board for (i) filing proof of completion of Board-approved continuingeducation courses for the appropriate number of hours and for the appropriatecontent or (ii) filing proof of meeting the exemption requirements set forthin subsection B or C of § 38.2-1871.
"Received by the Board or its administrator" shall mean delivered into thepossession of the Board or its administrator at the business address of theBoard's administrator.
B. Each agent holding one or more licenses subject to the continuingeducation requirements of this article shall complete all continuingeducation course, exemption, or waiver requirements by no later than December31 of each even-numbered year, and shall submit to the Board or itsadministrator proof of compliance with or exemption from the continuingeducation requirements in the form and manner required by the Board.
C. Such proof of compliance must be received by the Board or itsadministrator by the close of business on February 28 of the following year,or the next working day thereafter if February 28 falls on a weekend.
D. Agents shall be permitted to submit proof of compliance for an additionalperiod of time, until the close of business on March 31, or the next workingday thereafter if March 31 falls on a weekend, of such year subject topayment by the agent, in addition to any filing fee imposed by the Board fortimely filing of proof of compliance, of a late filing penalty of $250,payable to the Board in such manner as may be prescribed by the Board. Noagent whose proof of compliance is received during the extension provided bythis subdivision shall be considered in compliance with the continuingeducation requirements unless the filing fee and the late filing penaltydescribed herein have been paid by the close of business on March 31, or thenext working day thereafter if March 31 falls on a weekend.
After the March 31 deadline, agents who have obtained the requisitecontinuing education course credits in the time permitted for obtaining suchcredits, but who have failed to submit proof of compliance, shall be provideda final opportunity to submit the proof of compliance after the Commissionhas issued notice of impending termination of their licenses, if such agentssubmit proof of compliance and pay the filing fees and the $500 penalty asprovided in subdivision D 1 of § 38.2-1869 within the 30 calendar day noticeperiod provided pursuant to such subdivision.
E. Failure of an agent to furnish proof of compliance by the applicable datespecified in subsection C or D of this section shall result in the impositionof the penalties set forth in § 38.2-1869.
F. Agents seeking a waiver of some or all of the course credit requirementsfor a biennium pursuant to § 38.2-1870 shall submit all documentation, forms,and fees specified by the Board so as to be received by the Board or itsadministrator as set forth in § 38.2-1870.
G. Any agent holding one or more licenses subject to this article who failsto submit complete documentation showing proof of compliance with continuingeducation requirements, as well as all specified forms and fees, so as to bereceived by the Board or its administrator by the close of business on thedates described in this section shall be deemed to be in noncompliance withthe requirements of this article.
(1996, c. 159; 1998, c. 46; 2000, c. 522; 2001, c. 706; 2006, c. 589.)