Section 17-42-512 - Term of license(a) A license is issued for a term of one (1) year.(b)(1) The Arkansas Real Estate Commission shall issue approval for renewal of a license in the absence of a reason or condition that may warrant the refusal of the renewal on receipt of a renewal request thirty (30) days before the expiration of the license.(2) A late fee applies to applications received after the renewal deadline.(c)(1) A licensee who has not applied for renewal or whose renewal application did not meet the requirements for renewal shall be notified by the commission.(2) If a license is not renewed by the date of its expiration, an application submitted for renewal of the license is considered a new application for licensure.Amended by Act 2015, No. 1156,§ 8, eff. 7/22/2015.Added by Act 2013, No. 281,§ 3, eff. 7/22/2015.