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(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.


History: 37-1-131, 37-1-319, 37-51-203, MCA; IMP, 37-1-131, 37-1-319, 37-51-202, 37-51-204, MCA; Eff. 12/31/72; AMD, Eff. 7/5/75; AMD, 1978 MAR p. 203, Eff. 2/4/78; AMD, 1979 MAR p. 200, Eff. 3/1/79; AMD, 1979 MAR p. 1548, Eff. 12/14/79; AMD, 1980 MAR p. 1280, Eff. 4/25/80; TRANS, from Dept. of Prof. & Occup. Lic., Ch. 274, L. 1981, Eff. 7/1/81; AMD, 1982 MAR p. 2091, Eff. 11/25/82; AMD, 1989 MAR p. 1339, Eff. 9/15/89; AMD, 1990 MAR p. 1156, Eff. 6/15/90; AMD, 1995 MAR p. 2397, Eff. 11/10/95; AMD, 1999 MAR p. 405, Eff. 3/12/99; TRANS, from Commerce, 2005 MAR p. 2455; AMD, 2007 MAR p. 1329, Eff. 9/7/07; AMD, 2018 MAR p. 1163, Eff. 6/23/18.

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