§ 93A-35. Duration and renewal of licenses; transfer of school ownership. - North Carolina Statutes

§93A‑35.  Duration and renewal of licenses; transfer of school ownership.

(a)        All licenses issuedshall expire on June 30 following the date of issuance.

(b)        Licenses shall berenewable annually on July 1, provided that a renewal application accompanied bythe appropriate renewal fees has been filed not later than June 1 in the formand manner prescribed by the Commission, and provided further that theapplicant and school are found to be in compliance with the standardsestablished for issuance of an original license. The Commission may by rule setnonrefundable renewal fees not to exceed one hundred twenty‑five dollars($125.00) for each school location and twenty‑five dollars ($25.00) foreach real estate salesperson or broker prelicensing course.

(c)        In the event aschool is sold or ownership is otherwise transferred, the license issued to theoriginal owner is not transferable to the new owner. Such new owner must makeapplication for an original license as prescribed by this Article andCommission regulations. (1979, 2nd Sess., c. 1193, s. 1; 1983, c. 81, ss. 1,2; 1989, c. 563, s. 5; 1993, c. 419, s. 13; 2000‑140, s. 19(b).)