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During an Arizona file audit in Apache County, leo allowed the Arizona salesperson license to remain expired for more than one year and now wants to renew it as if nothing happened. Which statement is most accurate under current Arizona rules?

Correct Answer

A) a license that has been expired for more than one year is terminated rather than routinely renewed

Under A.R.S. § 32-2130, a license that has been expired for more than one year is terminated rather than routinely renewed.

Answer Options
A
a license that has been expired for more than one year is terminated rather than routinely renewed
B
termination rules apply only to brokers and not salespersons
C
termination occurs only after ten years of expiration
D
a license expired for more than one year is automatically renewed with late fees

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Related Topics & Key Terms

Key Terms:

arizona_specificexpirationterminationce_and_renewaladre_commissioner_and_licensing

Related Concepts

Market allocation is an illegal antitrust practice in which competing real estate brokerages agree to divide markets among themselves by geographic area, property type, or price range, thereby eliminating competition.

Price fixing is an illegal antitrust practice in which competing real estate brokerages agree to charge the same commission rates, fees, or other pricing for their services. It is a per se violation of the Sherman Antitrust Act.

Florida brokers are required to maintain transaction records and escrow records for a minimum of five years.

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