(a) Licenses shall be granted under this chapter only to persons who bear a good reputation for honesty, truthfulness and fair dealing and who are competent to transact the business of a real estate broker or real estate salesperson in such manner as to safeguard the interests of the public.

(b) Each application for a license or for a renewal thereof shall be made in writing, on such forms and in such manner as is prescribed by the Department of Consumer Protection and accompanied by such evidence in support of such application as is prescribed by the commission. The commission may require such information with regard to an applicant as the commission deems desirable, with due regard to the paramount interests of the public, as to the honesty, truthfulness, integrity and competency of the applicant and, where the applicant is a corporation, association or partnership, as to the honesty, truthfulness, integrity and competency of the officers of such corporation or the members of such association or partnership.

(c) In order to determine the competency of any applicant for a real estate broker’s license or a real estate salesperson’s license the commission or Commissioner of Consumer Protection shall, on payment of an application fee of one hundred twenty dollars by an applicant for a real estate broker’s license or an application fee of eighty dollars by an applicant for a real estate salesperson’s license, subject such applicant to personal written examination as to the applicant’s competency to act as a real estate broker or real estate salesperson, as the case may be. Such examination shall be prepared by the Department of Consumer Protection or by a national testing service designated by the Commissioner of Consumer Protection and shall be administered to applicants by the Department of Consumer Protection or by such testing service at such times and places as the commissioner may deem necessary. The commission or Commissioner of Consumer Protection may waive the uniform portion of the written examination requirement in the case of an applicant who has taken the national testing service examination in another state within two years from the date of application and has received a score deemed satisfactory by the commission or Commissioner of Consumer Protection. The Commissioner of Consumer Protection shall adopt regulations, in accordance with chapter 54, establishing passing scores for examinations. In addition to such application fee, applicants taking the examination administered by a national testing service shall be required to pay directly to such testing service an examination fee covering the cost of such examination. Each payment of such application fee shall entitle the applicant to take such examination within the one-year period from the date of payment.

(d) (1) (A) Each applicant applying for a real estate broker’s license on or after July 1, 2016, but before January 1, 2022, shall, before being admitted to such examination, prove to the satisfaction of the commission or the Commissioner of Consumer Protection that the applicant (i) (I) has been actively engaged for at least two years as a licensed real estate salesperson under the supervision of a licensed real estate broker in this state, (II) has successfully completed a course approved by the commission or commissioner in real estate principles and practices of at least sixty classroom hours of study, (III) has successfully completed a course approved by the commission or commissioner in real estate legal compliance consisting of at least fifteen classroom hours of study, (IV) has successfully completed a course approved by the commission or commissioner in real estate brokerage principles and practices consisting of at least fifteen classroom hours, and (V) has successfully completed two elective courses, each consisting of fifteen classroom hours of study, as prescribed by the commission or commissioner, or (ii) has equivalent experience or education as determined by the commission or commissioner.

(B) Each applicant applying for a real estate broker’s license on or after January 1, 2022, shall, before being admitted to such examination, prove to the satisfaction of the commission or the Commissioner of Consumer Protection that the applicant (i) (I) has been actively engaged as a licensed real estate salesperson under the supervision of a licensed real estate broker in this state for at least one thousand five hundred hours during the three years immediately preceding the date on which such applicant filed such applicant’s application, and such supervising licensed real estate broker, or such supervising licensed real estate broker’s authorized representative, has certified the accuracy of a record of such applicant’s active engagement on a form provided by such applicant to such supervising licensed real estate broker or authorized representative, (II) has successfully completed a course approved by the commission or commissioner in real estate principles and practices of at least sixty classroom hours of study, (III) has successfully completed a course approved by the commission or commissioner in real estate legal compliance consisting of at least fifteen classroom hours of study, (IV) has successfully completed a course approved by the commission or commissioner in real estate brokerage principles and practices consisting of at least fifteen classroom hours, (V) has successfully completed two elective courses, each consisting of fifteen classroom hours of study, as prescribed by the commission or commissioner, and (VI) has represented a seller, buyer, lessor or lessee in at least four real estate transactions that closed during the three years immediately preceding the date on which such applicant filed such applicant’s application, or (ii) has equivalent experience or education as determined by the commission or commissioner. Each supervising licensed real estate broker, or authorized representative of such supervising licensed real estate broker, shall certify the accuracy or inaccuracy of a record provided by an applicant to such supervising licensed real estate broker or authorized representative under subparagraph (B)(i)(I) of this subdivision not later than ninety days after such applicant provides such record to such supervising licensed real estate broker or authorized representative.

(2) The commission or the Commissioner of Consumer Protection shall waive the elective courses under subparagraph (A)(i)(V) or (B)(i)(V) of subdivision (1) of this subsection if the applicant has successfully completed at least twenty real estate transactions within five years immediately preceding the date of application. As used in this subdivision, “real estate transaction” means any transaction in which real property is legally transferred to another party or in which a lease agreement is executed between a landlord and a tenant.

(3) Each applicant for a real estate salesperson’s license shall, before being admitted to such examination, prove to the satisfaction of the commission or the Commissioner of Consumer Protection that the applicant (A) has successfully completed a course approved by the commission or commissioner in real estate principles and practices consisting of at least sixty classroom hours of study, or (B) has equivalent experience or education as determined by the commission or commissioner.

(e) The provisions of subsections (c) and (d) of this section shall not apply to any renewal of a real estate broker’s license, or a real estate salesperson’s license issued prior to October 1, 1973.

(f) All licenses issued under the provisions of this chapter shall expire annually. At the time of application for a real estate broker’s license, there shall be paid to the commission, for each individual applicant and for each proposed active member or officer of a firm, partnership, association or corporation, the sum of five hundred sixty-five dollars, and for the annual renewal thereof, the sum of three hundred seventy-five dollars, except that for licenses expiring on March 31, 2022, a prorated renewal fee shall be charged to reflect the fact that the March 2022, renewal shall expire on November 30, 2023. At the time of application for a real estate salesperson’s license, there shall be paid to the commission two hundred eighty-five dollars and for the annual renewal thereof the sum of two hundred eighty-five dollars. Three dollars of each such annual renewal fee shall be payable to the Real Estate Guaranty Fund established pursuant to § 20-324a. A real estate broker’s license issued to any partnership, association or corporation shall entitle the individual designated in the application, as provided in § 20-312, upon compliance with the terms of this chapter, but without the payment of any further fee, to perform all of the acts of a real estate broker under this chapter on behalf of such partnership, association or corporation. Any license which expires and is not renewed pursuant to this subsection may be reinstated by the commission, if, not later than two years after the date of expiration, the former licensee pays to the commission for each real estate broker’s license the sum of three hundred seventy-five dollars and for each real estate salesperson’s license the sum of two hundred eighty-five dollars for each year or fraction thereof from the date of expiration of the previous license to the date of payment for reinstatement, except that any licensee whose license expired after such licensee entered military service shall be reinstated without payment of any fee if an application for reinstatement is filed with the commission within two years after the date of expiration. Any such reinstated broker’s license shall expire on the next succeeding November thirtieth, except that any broker’s license that is reinstated before March 31, 2022, shall expire on March 31, 2022. Any such reinstated real estate salesperson’s license shall expire on the next succeeding May thirty-first.

(g) Any person whose application has been filed as provided in this section and who is refused a license shall be given notice and afforded an opportunity for hearing as provided in the regulations adopted by the Commissioner of Consumer Protection.