Mo. Code Regs. tit. 20 § 2250-4.040
Current through Register Vol. 49, No. 9, May 1, 2024
Section 20 CSR 2250-4.040 - Individual License; Business Name; Inactive BrokersPURPOSE: This rule assures that the commission may fulfill its regulatory authority over licensees. In order to fulfill its authority, it must be in a position to communicate with and identify all licensees. The license pocket card is a consumer protection measure, where the licensee may offer proof of his/her professional status.
(1) A broker shall not conduct business under any other name or at any other address than the one for which the broker's individual license is issued unless the broker first complies with 20 CSR 2250-4.030. If a broker changes his/her name, home or business address, the broker shall notify the commission in writing within ten (10) days after the change becomes effective.(2) When a broker returns his/her license to the commission, the broker must first comply with the provisions of 20 CSR 2250-8.155. The broker shall have six (6) months in which to change status or reinstate the license. If the application to change status or reinstate the license is not made within the six (6)-month period, the applicant will be required to complete the Missouri Real Estate Practice Course and show proof of satisfactory completion of that course within six (6) months prior to reinstatement of the license. If the license is not reinstated or placed on inactive status within the subsequent renewal period, the licensee will be required to requalify as if an original applicant.(3) A broker may apply for inactive broker status. This request shall be on an application approved by the commission and shall be accompanied by the required fee. A license shall be issued to the broker clearly printed with the word inactive and the inactive broker shall not engage in any activity for which a license is required. An inactive broker license must be renewed biennially on or before June 30 of each renewal year. A licensee holding an inactive license as described in this rule will not be required to complete the continuing education requirement for license periods during which the license is inactive. A broker license which is inactive may not be reactivated until the licensee presents to the commission the proper application accompanied by the required fee and a certificate from a school accredited by the commission evidencing satisfactory completion, within the preceding six (6) months, of the Missouri Real Estate Practice Course required by 20 CSR 2250-6.060. AUTHORITY: section 339.120, RSMo Supp. 2008.* This rule originally filed as 4 CSR 250-4.040. Original rule filed Nov. 14, 1978, effective Feb. 11 , 1979. Amended: Filed March 12, 1982, effective June 11 , 1982. Amended: Filed Aug. 12, 1982, effective Nov. 11 , 1982. Amended: Filed May 11 , 1983, effective Aug. 11 , 1983. Amended: Filed March 14, 1984, effective June 11 , 1984. Amended: Filed Oct. 2, 1985, effective Dec. 26, 1985. Amended: Filed Sept. 1, 1989, effective Dec. 28, 1989. Emergency amendment filed Feb. 5, 1990, effective Feb. 15, 1990, expired June 14, 1990. Amended: Filed March 19, 1990, effective June 11 , 1990. Amended: Filed Nov. 15, 1991, effective June 25, 1992. Amended: Filed Feb. 2, 1994, effective Aug. 28, 1994. Moved to 20 CSR 2250-4.040, effective Aug. 28, 2006. Amended: Filed Oct. 12, 2007, effective April 30, 2008. Amended: Filed April 3, 2009, effective Sept. 30, 2009. *Original authority: 339,120, RSMo 1941, amended 1963, 1967, 1981, 1988, 1993, 1995, 1999, 2004, 2008.