(1) A licensed broker or salesperson not engaged in licensed activities may place the licensee's license on inactive status by:

(a) paying the required fee in accordance with ARM 24.210.401;

(b) forwarding the license to the board office for cancellation of the active license; and

(c) submitting a written request that the license be placed inactive.

(d) 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 not earned while the license was active.