[THIS PAGE NOT FOR PUBLICATION IN THE CODE OF COLORADO REGULATIONS]
DEPARTMENT OF REGULATORY AGENCIES
DIVISION OF REAL ESTATE
REAL ESTATE COMMISSION
4CCR 725-1

RULE D.  RENEWAL, TRANSFER, INACTIVE LICENSE, ERRORS AND OMISSIONS

Pursuant to and in compliance with Title 12, Article 61 and Title 24, Article 4, C.R.S. as amended, notice of proposed rulemaking is hereby given, including notice to the Attorney General of the State of Colorado and to all persons who have requested to be advised of the intention of the Colorado Real Estate Commission (the “Commission”) to promulgate rules, or to amend, repeal or repeal and re-enact the present rules of the Commission.  

STATEMENT OF BASIS

The statutory basis for the rules titled Rules of the Colorado Real Estate Commission is Part 1 of Title 12, Article 61, Colorado Revised Statutes, as amended.
  
STATEMENT OF PURPOSE

The purpose of this rule is to effectuate the legislative directive to promulgate necessary and appropriate rules in conformity with the state statutes of the real estate practice act.

SPECIFIC PURPOSE OF THIS RULEMAKING

The specific purpose of this rule is to amend or repeal existing rules with respect to requirements for license renewal, transfer, inactivation and errors and omissions insurance for real estate brokers. 

Proposed New, Amended and Repealed Rules

Rule D.  Renewal, Transfer, Inactive License, Errors and Omissions

[PUBLICATION INSTRUCTIONS: D1 D2 D3 D4 D7 D8 D9 D10 D12 D14 D15 D16 IN EFFECT UNCHANGED]

D-5.  Repealed.

D-6. License renewal notification.
Notification that a license will expire, unless renewed, will be sent to the electronic mail address on file with the Commission.

D-11.  Initial license renewal.
An initial license will be issued for a three-year period commencing on the issuance date and expiring three years from the date of issuance.  

D-13.  Anniversary date renewals and reinstatements.
License renewal periods shall begin on the anniversary date of issuance and continue for three full years.  An expired license may be reinstated as follows:
(a)	If proper application is made within thirty-one days after the date of expiration, by
payment of the regular renewal fee;
(b)  	If proper application is made more than thirty-one days but within one year after the
date of expiration, by payment of the regular renewal fee and payment of a
reinstatement fee equal to one-half the regular renewal fee;
(c)  If proper application is made more than one year but within three years after the date of
      expiration, by payment of the regular renewal fee and payment of a reinstatement fee
      equal to the regular renewal fee.