Iowa Code r. 193E-3.5 - Renewing a broker license
To remain authorized to act as a real estate broker, a broker renews a real estate license before the expiration date of the license. Brokers who fail to renew a real estate license before expiration are not authorized to practice as real estate brokers in Iowa. Termination of a broker's authority to practice real estate in Iowa automatically terminates the authority of all salespersons employed by or assigned to the broker.
(1)
Application forms.
Applications for renewal of a broker's license may be found on the commission's
website. Brokers renew electronically. While the commission generally mails
reminders to brokers in the November preceding license expiration, the failure
of the commission to mail a reminder does not excuse the broker from the
requirement to renew prior to the expiration of the license.
(2)
Qualifications for
renewal. The commission grants an application to renew a broker's
license if:
a. The application is timely
received by the commission by December 31, or within the 30-day grace period
after expiration as provided by Iowa Code section
543B.28.
b. The application is accompanied by the
regular renewal fee and, if received by the commission after midnight December
31 but prior to midnight January 30, is accompanied by a penalty of
$25.
c. The application is fully
completed with all necessary information, including proper disclosure of
completed continuing education and errors and omissions insurance.
d. The application does not include grounds
to deny a license, such as the revocation of a license in another jurisdiction
or a criminal conviction.
(3)
Incomplete or untimely
applications to renew. Renewal applications received by the commission
after midnight January 30 will be treated as applications to reinstate an
expired license under rule
193E-3.6 (272C,543B).
a. Applications to renew or reinstate a
broker's license which are incomplete or which are not accompanied by the
proper fee may be returned to the broker for additional information or
fee.
b. Alternatively, the
commission may retain the application, and notify the applicant that the
application cannot be granted without further information or fee.
(4)
Insufficient
continuing education. Renewal applications which do not report
completion of required continuing education, but which are otherwise timely and
sufficient and accompanied with the proper fee, are renewed in inactive status.
In the event of a factual dispute regarding the broker's intent to renew in
inactive status or a broker's completion of continuing education, the
commission may deny the application and provide the applicant with an
opportunity for hearing according to the procedures set forth in rule
193-7.39 (546,272C).
(5)
Denial of application to
renew. An application to renew may be denied on the grounds provided
in Iowa Code chapter 543B and in rule
193-7.39 (546,272C). The
administrative processing of an application to renew does not prevent the later
initiation of a contested case to challenge a licensee's qualifications for
licensure.
(6)
Renewal of
inactive or suspended license. An inactive or suspended license
expires if not timely renewed. The status of a license does not affect the
requirement to renew.
Notes
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