(A) The commission shall issue licenses in the classifications of broker, broker-in-charge, or salesperson, 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.
(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.
(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.
(E) A license that has lapsed and is not reinstated by the last day of the sixth month following expiration is canceled.
HISTORY: 1997 Act No. 24, Section 1; 2016 Act No. 170 (S.1013), Section 1, eff January 1, 2017.
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).
Structure South Carolina Code of Laws
Title 40 - Professions and Occupations
Chapter 57 - Real Estate Brokers, Salesmen, And Property Managers
Section 40-57-5. Applicability of chapter; conflicts of laws.
Section 40-57-10. South Carolina Real Estate Commission created; purpose.
Section 40-57-30. Definitions.
Section 40-57-40. Membership; terms of appointment.
Section 40-57-50. Election of officers; seal; rules and procedures.
Section 40-57-60. Powers and duties of commission.
Section 40-57-65. Annual report.
Section 40-57-70. Application and license fees; allocation of fees; annual report.
Section 40-57-90. Application for examination or licensure; form and fees.
Section 40-57-110. Issuance and classification of license; inactive status; renewal; lapse.
Section 40-57-120. Nonresident licensees; change in residency; referral fees by resident licensees.
Section 40-57-136. Trust accounts; disputes; records.
Section 40-57-240. Applicability of chapter.
Section 40-57-310. Qualifications for licensure.
Section 40-57-320. Conditions for license application; education; examination; fees.
Section 40-57-360. Broker-in-charge responsible for team supervision.
Section 40-57-370. Duty of licensee to provide disclosure of brokerage relationships; exceptions.
Section 40-57-510. Manager or property manager-in-charge license.
Section 40-57-520. Management of residential multiunit rental locations.
Section 40-57-730. Licensure after revocation.
Section 40-57-750. Costs of investigation and prosecution of violations.
Section 40-57-760. Imposition of costs; collection.
Section 40-57-770. Confidentiality and privileged communications.
Section 40-57-780. Failure to renew or register license; penalties.
Section 40-57-790. Civil actions.