Sec. 2502a.
(1) The department shall issue a license for a real estate broker, associate real estate broker, and real estate salesperson for a term of 3 years.
(2) The department shall renew a license for a real estate broker, associate real estate broker, or real estate salesperson if the department receives an application for renewal on a form prescribed by the department, and payment of the appropriate fees, within the time period described in section 411(1) or (2), and the applicable requirements of section 2504a are met.
(3) The department may relicense without examination a person that fails to renew a license issued under this article within the time period described in subsection (2) if all of the following are met:
(a) The person applies within 3 years after the expiration date of the person's last license.
(b) The person pays an application processing fee, the late renewal fee, and the per-year license fee for the upcoming licensure period.
(c) The person completes 6 clock hours of continuing education for each year and partial year that have elapsed since the expiration of the person's last license, on the topics described in section 2504a(1).
(4) The department may relicense a person that failed to renew a real estate broker license within 3 years after the expiration date of the person's last license if the person pays an application processing fee, the late renewal fee, and the per-year license fee for the upcoming licensure period and submits proof that the person, if the person is an individual, or the individual designated as the person's principal under section 2505 if the person is not an individual, meets any of the following:
(a) Has completed a total of 6 clock hours of continuing education for each year and partial year that have elapsed since the expiration of the person's last license, on the topics described in section 2504a(1).
(b) Has completed 90 clock hours of prelicensure courses described in section 2504(3).
(c) Has passed the examination required for a real estate broker license under section 2505(5).
(5) The department may relicense an individual who failed to renew a real estate salesperson license within 3 years after the expiration date of his or her last license if he or she pays an application processing fee, the late renewal fee, and the per-year license fee for the upcoming licensure period and submits proof that he or she meets any of the following:
(a) Has completed a total of 6 clock hours of continuing education for each year and partial year that have elapsed since the expiration of his or her last license, on the topics described in section 2504a(1).
(b) Has completed 40 clock hours of prelicensure courses described in section 2504(3).
(c) Has passed the examination required for a real estate salesperson license under section 2505(5).
History: Add. 2002, Act 611, Imd. Eff. Dec. 20, 2002 ;-- Am. 2014, Act 106, Eff. Jan. 1, 2015
Popular Name: Act 299
Last modified: October 10, 2016