(a) The Arkansas Real Estate Commission shall issue a license to an applicant instructor of real estate education who:

(1) Is twenty-one (21) years of age or older;

(2) Has successfully completed the real estate education requirements under this subchapter;

(3) Has sufficient experience as determined by the commission;

(4) Has no record of unprofessional conduct; and

(5) Shows evidence of a reputation of honesty, trustworthiness, and integrity sufficient to safeguard the interest of the public.

(b) The commission shall determine what constitutes proof of meeting the requirements of subsection (a) of this section.

(c) A person or entity shall not be issued a license under this subchapter if:

(1) The person or entity has had a real estate or other professional or occupational license suspended or revoked for disciplinary reasons;

(2) The person has been refused a renewal of a license issued by this state or any other jurisdiction;

(3) The person or entity has pleaded guilty or nolo contendere to or been found guilty of a felony or misdemeanor involving fraud, misrepresentation, or dishonest or dishonorable dealing in a court of competent jurisdiction; or

(4) The person or entity fails to pay the appropriate fees.

(d)

(1) Subsection (c) of this section may be waived by the commission on request of an affected applicant for licensure.

(2) Circumstances for which a waiver may be granted include:

(A) The applicant's age at the time the action occurred;

(B) The circumstances surrounding the action;

(C) The length of time since the action;

(D) Work history;

(E) Employment references;

(F) Character references; and

(G) Other evidence demonstrating that the applicant does not pose a threat to the public.