Expiration of licenses; length of license periods.
1. Each license issued under the provisions of this chapter expires at midnight on the last day of the last month of the applicable license period for the license.
2. The initial license period for an original license as a real estate broker, broker-salesman or salesman is a period of 12 consecutive months beginning on the first day of the first calendar month after the original license is issued by the Division. Thereafter, each subsequent license period is a period of 24 consecutive months beginning on the first day of the first calendar month after a renewal of the license is issued by the Division for the subsequent license period.
3. For all other licenses, the license period is a period of 24 consecutive months beginning on the first day of the first calendar month after the license or any renewal of the license is issued by the Division, unless a specific statute:
(a) Provides for a different license period; or
(b) Expressly authorizes a different license period to be provided for by regulation.
Last modified: February 27, 2006