18 Va. Admin. Code § 135-20-140
Current through Register Vol. 41, No. 4, October 8, 2024
Section 18VAC135-20-140 - [Effective 11/1/2024] Failure to renew; reinstatement requiredA. All applicants for reinstatement must meet all requirements set forth in 18VAC135-20-101. Applicants for reinstatement who want to activate a license must have completed the continuing education requirement in order to reinstate and activate the license. Applicants for reinstatement of an inactive license are not required to complete the continuing education requirement for license reinstatement.B. If the requirements for renewal of a license, including receipt of the fee by the board, are not completed by the licensee within 30 days of the expiration date noted on the license, a reinstatement fee is required as follows: Salesperson | $100 |
Salesperson's or broker's license as a business entity | $135 |
Broker | $120 |
Concurrent Broker | $120 |
Firm | $245 |
Branch Office | $135 |
C. A license may be reinstated for up to one year following the expiration date with payment of the reinstatement fee. After one year, the license may not be reinstated under any circumstances and the applicant must meet all current educational and examination requirements and apply as a new applicant.D. A licensee may not perform activities defined in § 54.1-2100 of the Code of Virginia with an expired license. Any real estate activity conducted subsequent to the expiration date may constitute unlicensed activity and be subject to prosecution under Chapter 1 (§ 54.1-100 et seq.) of Title 54.1 of the Code of Virginia.18 Va. Admin. Code § 135-20-140
Derived from VR585-01-1 §4.1, eff. July 15, 1987; amended, Virginia Register Volume 5, Issue 23, eff. October 1, 1989; Volume 7, Issue 14, eff. May 15, 1991; Volume 8, Issue 13, eff. May 15, 1992; Volume 11, Issue 18, eff. June 28, 1995; Volume 14, Issue 6, eff. January 8, 1998; Volume 15, Issue 18, eff. July 1, 1999; Volume 19, Issue 12, eff. April 1, 2003; Volume 20, Issue 23, eff. September 1, 2004; Amended, Virginia Register Volume 31, Issue 26, eff. 11/1/2015; Errata, 32:1 VA.R. 242 September 7, 2015; Errata, 32:2 VA.R. 296 September 21, 2015; Amended, Virginia Register Volume 41, Issue 01, eff. 10/1/2024; Amended, Virginia Register Volume 41, Issue 2, eff. 11/1/2024.Statutory Authority: §§ 54.1-201 and 54.1-2105 of the Code of Virginia.