(a) The license of any broker, affiliate broker, time-share salesperson or acquisition agent who fails timely to pay a renewal or retirement fee or to comply with any prerequisite or condition to licensure or renewal may be reinstated without examination within sixty (60) days after the expiration date of the license upon providing proof of compliance with the prerequisites or conditions, including payment of any penalty fee arising from failure to comply with any prerequisite or condition to renewal prior to the expiration date of the license and payment of the renewal fee, plus an additional penalty fee of not more than one hundred dollars ($100) per month. Any person desiring reinstatement thereafter must reapply for licensure; provided, however, that the commission may, in its discretion:

Terms Used In Tennessee Code 62-13-319

  • Acquisition agent: means a person who by means of personal inducement, solicitation, or otherwise attempts directly to encourage any person to attend a sales presentation for a time-share program. See Tennessee Code 62-13-102
  • Affiliate broker: means any person engaged under contract by or on behalf of a licensed broker to participate in any activity included in subdivision (4). See Tennessee Code 62-13-102
  • Broker: means any person who, for a fee, commission, finders fee or any other valuable consideration or with the intent or expectation of receiving a fee, commission, finders fee or any other valuable consideration from another, solicits, negotiates or attempts to solicit or negotiate the listing, sale, purchase, exchange, lease or option to buy, sell, rent or exchange for any real estate or of the improvements on the real estate or any time-share interval as defined in the Tennessee Time-Share Act, compiled in title 66, chapter 32, part 1, collects rents or attempts to collect rents, auctions or offers to auction or who advertises or holds out as engaged in any of the foregoing. See Tennessee Code 62-13-102
  • Month: means a calendar month. See Tennessee Code 1-3-105
  • Person: means and includes individuals, corporations, partnerships or associations, foreign and domestic. See Tennessee Code 62-13-102
  • Time-share salesperson: means any person acting as a seller of any time-share interval under contract with or control of a licensed real estate broker pursuant to a registered time-share program. See Tennessee Code 62-13-102
(1) Waive reexamination or additional education requirements for such an applicant; or
(2) Reinstate a license subject to the applicant’s compliance with reasonable conditions that the commission may prescribe, including payment of a penalty fee, in addition to the penalty fee provided in subsection (a), of not more than one hundred dollars ($100) per month, or portion of a month, from the time the license expired.
(b) When fees are remitted by mail to the commission, the date of payment shall be determined by the official postmark on the mail.
  Previous section
Next section  
 Part 3 Contents