Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 2250 - Missouri Real Estate Commission › Chapter 4 - Licenses › Section 20 CSR 2250-4.050 - Broker-Salesperson and Salesperson Licenses; Transfers; Inactive Salespersons

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule is to clearly define the
				  distinction between a broker and an individual who even though s/he achieved
				  broker status must function as a salesperson.
(1) A broker whose license is in good
				standing and who elects to operate under the supervision of a licensed broker
				shall first comply with the provisions of
				20 CSR
				2250-8.155. The broker shall surrender his/her license
				to the commission for conversion to a broker-salesperson license. A
				broker-salesperson license will be issued upon receipt of the properly
				completed application accompanied by the required fee. No individual holding a
				broker-salesperson license may have a salesperson licensed under him/her. A
				broker license may be reinstated upon proper application to the commission
				accompanied by the required fee.
(2) A broker-salesperson or salesperson
				license shall be issued only to a person who is associated with a licensed
				broker. The license of each broker-salesperson or salesperson shall be mailed
				to the broker. A broker-salesperson or salesperson cannot be licensed with more
				than one (1) broker during the same period of time.
(3) Within seventy-two (72) hours of the
				termination of the association of any broker-salesperson or salesperson, a
				broker shall notify the commission and shall return to the commission that
				licensee's license. The broker shall provide a dated and timed receipt to the
				licensee when the licensee submits a letter of termination to the broker. When
				a licensee's license is surrendered to the commission, the licensee shall have
				six (6) months in which to transfer to another broker or change license status.
				If the application for transfer or change in status is not made within the six
				(6)-month period, the applicant will be required to complete the required
				Missouri Real Estate Practice Course and show proof of satisfactory completion
				of that course within six (6) months prior to reinstatement of the license. If
				the license is not transferred or placed on inactive status, or if no status
				change has been made within the subsequent renewal period, the licensee will be
				required to requalify as if an original applicant.
(4) An original licensee or a licensee
				changing license status/type shall not be deemed to be entitled to engage in
				any activity for which a license is required until the new license is received
				by the broker or until written notification is received from the commission
				that the application is being processed. When a broker-salesperson or
				salesperson transfers from one broker to another without changing license type,
				the licensee shall be deemed transferred at the time the properly completed
				application is mailed by certified, registered, or overnight delivery, if all
				materials required to transfer are mailed under one (1) cover. The new broker
				is responsible for seeing that the application is complete and that the
				application for transfer is mailed by certified, registered, or overnight
				delivery to ensure proof of delivery. If the application is deemed incomplete,
				the transfer will not be effective until the new license is received by the
				broker or until written notification is received from the commission that the
				application is being processed.
(5)
				Upon termination of a licensee's association with a broker, the licensee shall
				return all property belonging to the broker, including, but not limited to all
				listing information acquired by the licensee in any manner during the
				licensee's association with the broker.
(6) A salesperson whose association with a
				broker is terminated may request the commission to transfer the license to an
				inactive status. The request shall be on an application approved by the
				commission and shall be accompanied by the required fee. A license shall be
				issued to the salesperson clearly printed with the word inactive and the
				inactive salesperson shall not be associated with a broker nor engage in any
				activity for which a license is required. An inactive salesperson license must
				be renewed biennially on or before September 30 of each renewal year. A
				licensee holding an inactive license as described in this rule will not be
				required to complete the continuing education requirement for license periods
				during which the license is inactive. A salesperson license which is in an
				inactive status may not be reactivated until the licensee presents to the
				commission a certificate from a school accredited by the commission evidencing
				satisfactory completion by that person, within the preceding six (6) months, of
				the Missouri Real Estate Practice Course required by
				20
				CSR 2250-6.060. The holder of an inactive salesperson
				license may be transferred to active status upon proper application to the
				commission accompanied by the required fee and the school completion
				certificate.
(7) A
				broker-salesperson whose association with a broker is terminated may request
				the commission to transfer the license to an inactive status and shall be
				subject to the provisions of
				20 CSR
				2250-4.040(3).
*Original authority: 339.120, RSMo 1941, amended 1963,
					 1967, 1981, 1988, 1993, 1995, 1999, 2004,
					 2008.