Placement of license on inactive status; reinstatement.
1. The Division may place a license on inactive status for any of the following reasons:
(a) At the request of the licensee.
(b) If a broker’s license or a corporate officer’s license, for failure to immediately notify the Division in writing of any change in the name of his firm or its business location.
(c) If a broker-salesman’s license or a salesman’s license, for failure to notify the Division of a change in the broker or owner-developer with whom he will be associated within 30 days after his previous association was terminated.
(d) For failure to apply and pay the fee for renewal before the license expired.
(e) If inactivated upon the placing of the broker under whose supervision the licensee worked in an inactive status.
(f) As a result of a formal disciplinary proceeding.
2. Any licensee whose license has been placed on inactive status may not engage in the business of a real estate broker, broker-salesman or salesman until he has met all of the requirements for reinstatement of his license to active status.
Last modified: February 27, 2006