2005 Vermont Code - § 2293. — Renewal of license; lapsed license

§ 2293. Renewal of license; lapsed license

(a) Licenses shall be renewed every two years without examination and on payment of the required fees, provided that the person applying for renewal completes at least 16 hours of instruction for brokers and 16 hours of instruction for salespersons, approved by the commission, during the preceding two-year period. Four hours of this continuing education instruction shall address legislation and other topics specified by the real estate commission for each renewal period.

(b) A broker or salesperson applying for reinstatement of a license that has lapsed shall be assessed both the renewal fee and late renewal penalty established by the director of the office of professional regulation and shall not be assessed renewal fees for the years during which the license was lapsed. Reinstatement shall not take place until the applicant completes the continuing education required for the previous renewal period.

(c) If a broker or salesperson's license has lapsed for greater than five consecutive years, the broker or salesperson shall apply for reinstatement in accordance with the initial licensure requirements as set forth in section 2292 of this title, including a course of instruction and examination. The commission may waive the reinstatement requirements based upon licensed practice in another state.

(d) The commission may waive or postpone compliance with the instructional requirements of this section in cases of extreme hardship on the part of the licensee. No licensee, however, may receive a postponement or waiver for two successive two-year periods of licensure. The commission may accept fewer hours of continuing education instruction for renewal of a license on a prorated basis following an initial licensing period of less than two years.

Subsection (e) effective until January 1, 2007; see note set out below.

(e) Notwithstanding subsection (c) of this section, a person who held a valid license in good standing under this chapter may apply for reinstatement of a license pursuant to subsections (a) and (b) of this section after successfully completing either the course of instruction or the examination required under this chapter. (Amended 1969, No. 283 (Adj. Sess.), § 7; 1985, No. 6, § 1; 1989, No. 250 (Adj. Sess.), § 4(d); 1997, No. 145 (Adj. Sess.), § 29a; 2005, No. 27, § 68; 2005, No. 148 (Adj. Sess.), §§ 20, 53.)