339.040. Licenses granted to whom--examination--qualifications--fee--temporary broker's license, when--renewal, requirements.
Licenses granted to whom--examination--qualifications--fee--temporarybroker's license, when--renewal, requirements.
339.040. 1. Licenses shall be granted only to persons who present,and corporations, associations, or partnerships whose officers, associates,or partners present, satisfactory proof to the commission that they:
(1) Are persons of good moral character; and
(2) Bear a good reputation for honesty, integrity, and fair dealing;and
(3) Are competent to transact the business of a broker or salespersonin such a manner as to safeguard the interest of the public.
2. In order to determine an applicant's qualifications to receive alicense under sections 339.010 to 339.180 and sections 339.710 to 339.860,the commission shall hold oral or written examinations at such times andplaces as the commission may determine.
3. Each applicant for a broker or salesperson license shall be atleast eighteen years of age and shall pay the broker examination fee or thesalesperson examination fee.
4. Each applicant for a broker license shall be required to havesatisfactorily completed the salesperson license examination prescribed bythe commission. For the purposes of this section only, the commission maypermit a person who is not associated with a licensed broker to take thesalesperson examination.
5. Each application for a broker license shall include a certificatefrom the applicant's broker or brokers that the applicant has been activelyengaged in the real estate business as a licensed salesperson for at leasttwo years immediately preceding the date of application, and shall includea certificate from a school accredited by the commission under theprovisions of section 339.045 that the applicant has, within six monthsprior to the date of application, successfully completed the prescribedbroker curriculum or broker correspondence course offered by such school,except that the commission may waive all or part of the requirements setforth in this subsection when an applicant presents proof of othereducational background or experience acceptable to the commission.
6. Each application for a salesperson license shall include acertificate from a school accredited by the commission under the provisionsof section 339.045 that the applicant has, within six months prior to thedate of application, successfully completed the prescribed salespersoncurriculum or salesperson correspondence course offered by such school,except that the commission may waive all or part of the educationalrequirements set forth in this subsection when an applicant presents proofof other educational background or experience acceptable to the commission.
7. The commission may issue a temporary work permit pending finalreview and printing of the license to an applicant who appears to havesatisfied the requirements for licenses. The commission may, at itsdiscretion, withdraw the work permit at any time.
8. Every active broker, salesperson, officer, partner, or associateshall provide upon request to the commission evidence that during the twoyears preceding he or she has completed twelve hours of real estateinstruction in courses approved by the commission. The commission may, byrule and regulation, provide for individual waiver of this requirement.
9. Each entity that provides continuing education required under theprovisions of subsection 8 of this section may make available instructioncourses that the entity conducts through means of distance delivery. Thecommission shall by rule set standards for such courses. The commissionmay by regulation require the individual completing such distance-deliveredcourse to complete an examination on the contents of the course. Suchexamination shall be designed to ensure that the licensee displays adequateknowledge of the subject matter of the course, and shall be designed by theentity producing the course and approved by the commission.
10. In the event of the death or incapacity of a licensed broker, orof one or more of the licensed partners, officers, or associates of a realestate partnership, corporation, or association whereby the affairs of thebroker, partnership, or corporation cannot be carried on, the commissionmay issue, without examination or fee, to the legal representative orrepresentatives of the deceased or incapacitated individual, or to anotherindividual approved by the commission, a temporary broker license whichshall authorize such individual to continue for a period to be designatedby the commission to transact business for the sole purpose of winding upthe affairs of the broker, partnership or corporation under the supervisionof the commission.
(L. 1941 p. 424 § 7, A.L. 1945 p. 1423, A.L. 1978 S.B. 811, A.L. 1981 S.B. 16, A.L. 1983 H.B. 100, A.L. 1993 S.B. 18, A.L. 2004 H.B. 985, A.L. 2006 H.B. 1339)