HAR §16-99-65. Renewals

(a) Applications for renewal of a school's registration shall be submitted by the commission prescribed deadline of every even-numbered year. (b) The following shall accompany an application: (1) A renewal fee; (2) A statement as to the enrollment and advance deposit charged per student for each of the school's broker and salesperson courses offered during the preceding registration period; (3) The dates and locations of course of study to be offered if the registration is renewed; and (4) A surety bond to the commission conditioned for the protection of the contractual rights of real estate students in an amount equal to the sum of: (A) The largest number of students enrolled in the school's broker course at any one time during the preceding registration period multiplied by the advance deposit charged per student for the broker course; and §16-99-65 99-38 (B) The largest number of students enrolled in the school's salesperson course at any one time during the preceding registration period multiplied by the advance deposit charged per student for the salesperson course. In no event shall the amount of the bond be less than $2,000. The bond shall be issued by a surety authorized to do business in the State. (c) A registration shall be renewed if the school meets all of the then existing applicable requirements of the commission including but not limited to a reasonable student exam passing percentage, demonstrated evidence that the school curriculum objectives have been taught, certificates of completion issued within the past year, for each instructor, who completed successfully a commission sponsored or approved prelicense instructor's workshop, and an update of the information required for its original application for registration. (d) An accredited college or university shall not be required to submit to the commission a surety bond or pay the renewal fee as required by this section. [Eff and comp 3/3/84; am 10/3/85; am and comp 11/3/90; comp 2/25/91; am and comp 5/21/01; comp 12/19/16] (Auth: HRS §§467-4, 467-11, 467-25.5) (Imp: HRS §467-25.5)