client which may be required during the normal course of

Louisiana Licensing Requirements Flashcards The following are exempt from having a license: - Service rendered by an attorney at law on behalf of a client which may be required during the normal course of legal representation.- A receiver, trustee in bankruptcy, administrator, executor, tutor, or civil sheriff for any parish of this state- A trustee selling under a deed of trust or a mortgage- Any individual, corporation, partnership, trust, limited liability company, joint venture, or other entity which sells , exchanges, leases, or manages its own property.Grounds for suspension or revocation of a real estate license in Louisiana or any other jurisdiction, or the previous suspension or revocation, of a real estate license in Louisiana or any other jurisdiction shall also be grounds for refusal to grant a license.To change your license status from inactive to activeHave an inactive license in good standing and request the commission change your status from inactive to activePay the transfer fee of $45Complete the continuing education is not required in order to renew an inactive licenseContinuing education is not required in order to renew an inactive license Timeshare Developermeans an individual, partnership, limited liability company, corporation, or other legal entity, or the successor or assignee thereof, who creates a timeshare plan or who is in the business of making sles of timeshare interests which it owns or purports to own Only 1 Qualifying brokerNo matter how large the company is and how many branch licenses it may have Licenseemeans anyone who has been issued a license by the Commission

Delinquent feesin addition to renewal fee, not renewed by dec 31: jan 1 -

Feb 15 $50, Feb 16- march 31 $200.There responsibility of the individual, licensee, registrant, or certificate holder The timely submission of a renewal application and payment of the required fees New Licensees- All recipients of new licenses, including salespersons and brokers, must complete a 45 hour post- licensing course approved by the commission within 180 days of their initial license date.- This 45 hour course will satisfy 8 of the required 12 hours of continuing education for that year, the remaining 4 hours must be completed in the mandatory topic specified by the Commission.licenses shall be grantedonly to persons or entities who bear a good reputation for honesty, trustworthiness, integrity, and competence to transaction real estate activities requiring licensing in this

state in such a manner as to safeguard the interest of the public, and only after satisfactory proof of such qualifications has been presented to the commission.A request for license transfer that is submitted within 60 days of any of the following circumstances shall be exempt from the transfer fee or delinquent renewal fee

as prescribed:-The sponsoring broker has died-The

sponsoring broker has failed to renew his license-The license of the sponsoring broker has been suspended or revoked-The license of the sponsoring broker has been transferred to inactive status-The sponsoring broke elects to discontinue the sponsorship of a licensee

Real Estate Activitymeans any activity relating to any portion of a real estate transaction performed for another by any person, partnership, limited liability company, association, or corporation, foreign or domestic, whether pursuant to a power of attorney or otherwise, for a fee, commission, or other valuable consideration, or with the intention, in the expectation, or upon the promise of receiving or collecting

a fee, commission, or other valuable consideration:- When

some on is representing someone in real estate for pay Any licensee remaining in the inactive status for more than 1 year shall also complete a 4 hour continuing education course covering the Louisiana Real Estate License Law and commission rules and regulations within one year prior to the date of the transfer to active status It shall be prohibited for any real estate brokerage firmto operate a real estate school under the same legal entity as the real estate brokerage firm.Any activity that is designedto influence or solicit a pre-license education student to work under the sponsorship of any real estate broker shall be considered recruiting and is prohibited while on the premises of a real estate school.A licensee may transfer to inactive status without completing their required post-license education requirement; however, the commission shall not transfer the licensee to active status until such time that the post-license education requirement is complete.Active Licenseesare currently licensed and have the right to operate as a licensee and have not been transferred to inactive status Qualifying BrokerMeans the sponsoring broker for a licensed corporation, limited liability company, or partnership and is the individual real estate broker designated by a licensed corporation, limited liability company, or partnership, by resolution, as its representative in all matters relating to its real estate business activities in Louisiana and in administrative and regulatory matters before the commission. ( can be a sponsor)Can own and/or operate more than one company Types of LicensesActive Licensees, and Inactive licensees Each license, certificate, or registration issued shall bevissued for a period of one year and shall expire on December 31 following the date upon which it is issued.Each license, certificate, or registration shall be renewed annually A real estate school shall not providethe name(s) of any licensee or student, whether potential or enrolled, to anyone other than the Louisiana Real Estate Commission.Conducting any activity authorized by the license, certificate, or registration after the expiration of the license certificate, or registration shall be deemed a violation of this chapter. Licenses, certificate, or registration not renewed by January 1 shall be considered expired.