Mont. Admin. R. 24.210.624 - INACTIVE LICENSES
(1) A licensed
broker or salesperson not engaged in licensed activities may place the
licensee's license on inactive status by completing the change form requesting
that the license be placed inactive and paying the required fee in accordance
with ARM
24.210.401.
A salesperson must also forward a release from the salesperson's supervising broker.
(2) A licensee whose license is on inactive
status with the board has the sole responsibility to keep the board informed as
to any change of the licensee's residency or mailing address during the period
of time the real estate licensee remains on inactive status.
(3) In order to avoid lapse, expiration, or
termination of the license, an inactive licensee must renew the inactive
license each renewal period.
(4)
An inactive licensee does not need to report continuing education until
converting the license to active status as found in ARM
24.210.625.
(5) An inactive licensee may not receive
compensation for real estate activity except for compensation that was earned
while the license was active or payments made to an inactive licensee as the
seller of a real estate brokerage business.
Notes
AUTH: 37-1-131, 37-1-319, 37-51-203, MCA; IMP: 37-1-131, 37-1-319, 37-51-202, 37-51-204, MCA
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