ARM 24.210.624. INACTIVE LICENSES

(1) Licensed brokers and salespersons not engaged in licensed activities may place their licenses on inactive status by paying the required fee in ARM 24.210.401. (2) While inactive, licensees must inform the board of any change in the licensee's residency or mailing address. (3) To avoid lapse, expiration, or termination, an inactive license must be renewed each renewal period. (4) Licensees do not need to obtain continuing education until converting to active status. (5) An inactive licensee may not receive compensation for real estate activity except for: (a) compensation earned while the license was active; or (b) payments made to an inactive licensee as the seller of a real estate brokerage business. (6) For an inactive real estate licensee to become active, the licensee must: (a) request to move to an active status via a board-approved form; (b) submit proof of current professional liability and errors and omissions insurance; (c) demonstrate completed continuing education that would have been required if on active status not to exceed 24 credits; and (d) pay the required fee in accordance with ARM 24.210.401.