South Carolina § 40-57-110 - Issuance and classification of license; inactive status; renewal; lapse.

§ 40-57-110. Issuance and classification of license; inactive status; renewal; lapse.

(A) The commission shall issue licenses in the classifications of broker, broker-in-charge, or associate, to individuals who qualify under and comply with the requirements of this chapter; provided the commission may deny a license to an applicant it finds to have engaged in misconduct as provided in Section 40-57-710 or otherwise. No individual may be licensed in more than one classification at the same time. The license must be in the form and size as the commission prescribes and is not transferable. A licensee seeking to change his license classification shall adhere to the procedures provided by the commission in regulations.

(B) A licensee may place a license on inactive status by informing the commission in writing. To maintain an inactive license status, the license must be renewed in the same manner as provided for active license renewals. Upon proper compliance with the renewal requirements, a license may remain on inactive status for an indefinite period of time. An individual seeking to reactivate a license shall apply for the same license classification which was placed on inactive status, pay the appropriate fee, and meet the continuing education requirements as prescribed.

(1) Inactive licensees are prohibited from practicing real estate brokerage as defined in this chapter and regulations.

(2) The status of an associate, broker, or property manager license can be verified on the commission's website or by contacting commission staff.

(3) Licensees seeking to change their license classification shall adhere to the procedures provided by the commission in regulations.

(4) An individual seeking to reactivate an inactive license shall meet the reactivation requirements as prescribed in regulations.

(C) A license only may be renewed in accordance with procedures established by the commission pursuant to Section 40-1-50(D). A licensee is responsible for renewing his license whether or not he receives notice.

(D) A license that is not renewed before its expiration date lapses. Further practice may be sanctioned as unlicensed practice and subject to disciplinary action by the commission pursuant to Sections 40-57-710, 40-57-720, and 40-57-725.

(E) A license that has lapsed and is not reinstated by the last day of the twenty-fourth month following expiration is canceled.

HISTORY: 1997 Act No. 24, SECTION1; 2016 Act No. 170 (S.1013), SECTION 1, eff January 1, 2017; 2024 Act No. 204 (H.4754), SECTION 3, eff May 21, 2024.

Editor's Note

Prior Laws:1956 (49) 2046; 1957 (50) 555; 1962 Code SECTIONS 56-1545.11, 56-1545.15; 1967 (55) 652; 1986 Act No. 353, SECTION 8; 1994 Act No. 385, SECTION 9; 1976 Code SECTIONS 40-57-120, 40-57-160.

Effect of Amendment

2016 Act No. 170, SECTION 1, rewrote the section, deleting former (B) through (F) and redesignating former (G) through (J) as (B) through (E).

2024 Act No. 204, SECTION 3, rewrote the section.