36-21A-9. Inactive license defined. For the purposes of this chapter, an inactive license is any license that has been placed on inactive status for any of the following reasons:
(1) At the request of the licensee;
(2) Failure to designate a responsible broker;
(3) Cessation of being associated with a responsible broker or a licensed firm;
(4) Failure to notify the commission of a change of registered address;
(5) Failure of the licensee's responsible broker to maintain an active license;
(6) Failure to provide proof of errors and omissions insurance upon renewal;
(7) Failure of a nonresident real estate salesperson, who establishes residency in South Dakota, to successfully complete the education requirement for upgrade to broker associate within the prescribed timeframe; or
(8) Failure to provide proof of the necessary hours of continuing education.
No licensee whose license is on inactive status may perform any of the actions enumerated within this chapter prior to reactivation of the inactive license.
Source: SL 1992, ch 273, § 9; SL 2013, ch 177, § 5.
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