(a) A license is issued for a term of one (1) year.
(b)
(1) The Arkansas Real Estate Commission shall issue approval for renewal of a license in the absence of a reason or condition that may warrant the refusal of the renewal on receipt of a renewal request thirty (30) days before the expiration of the license.
(2) A late fee applies to applications received after the renewal deadline.
(c)
(1) A licensee who has not applied for renewal or whose renewal application did not meet the requirements for renewal shall be notified by the commission.
(2) If a license is not renewed by the date of its expiration, an application submitted for renewal of the license is considered a new application for licensure.
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