(a) The licensing requirements of this subchapter do not apply to:
(1) The National Association of Realtors, the National Association of Real Estate Brokers, or other associated entities if each association identifies an administrator;
(2) An accredited college or university; or
(3) An instructor associated with an entity listed in subdivision (a)(1) or (a)(2) of this section if the course is developed by or for those specific entities.
(b) The requirement for course approval by the Arkansas Real Estate Commission under this subchapter does not apply to:
(1) A classroom course in a real estate-related subject identified by the commission as an approved topic if it is offered by the National Association of Realtors, the National Association of Real Estate Brokers, or other associated entities;
(2) A course of at least three (3) semester hours or equivalent in a real estate subject that is approved by the commission and offered by an accredited college or university;
(3) A course in a real estate-related subject offered by the commission;
(4) A course or a conference in a real estate-related subject approved by the commission and offered annually on a limited basis in Arkansas; or
(5) A course that is not used to fulfill the education requirements of this subchapter for attaining a real estate license.
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