The initial effective date of a real estate license is the date the applicant passed the license exam. All real estate licenses are issued with an expiration date of either March 31 or September 30.
The date assigned to a particular license is the date that will give the licensee as close to 24 months of licensure as possible without exceeding 24 months.
License law mandates that the initial license period must provide the licensee at least 18 months of licensure but not more than 24.
For Example: Assume the initial effective date of a license is July 25, 2010. What expiration date will give the licensee at least 18 months of licensure but not more than 24 months.
Hint: 24 months from the initial effective date is
July 25, 2012. Ask yourself, which expiration date in 2012 is closest to July 25, 2012 but not past July 25, 2012.
July 25, 2012. Ask yourself, which expiration date in 2012 is closest to July 25, 2012 but not past July 25, 2012.
Answer:
March comes before July so the expiration date closest toJuly 25, 2012 but not past it, would be March 31, 2012. The initial license will have 20 months and the license expiration date will always expire every two years on March 31st.
~P.Stone, RRES
Comments (1)Subscribe to CommentsComment