| In accordance with existing law and as approved by the Commission at the January 19, 2023, meeting, all licensees who do not renew their license by the listed expiration date will be lapsed in accordance with SC Code Ann. §40-57-110(D). Following the lapse of licensure, an individual with a lapsed license has six months in which to reinstate the license before cancellation (SC Code Ann. §40-57-110(E)). Individuals with cancelled licenses must reapply and meet all current requirements for licensure, including taking and passing the applicable examination again. An individual holding a lapsed license may not engage in the practice of real estate or property management per SC Code Ann. §§ 40-57-20 and 40-57-780. For licenses with a June 30, 2023, expiration date, failure to submit a complete renew by midnight will result in the license being lapsed on July 1, 2023. The reinstatement period will run from July 1, 2023, to midnight, December 31, 2023. Failure to submit a complete reinstatement on or before December 31, 2023, will result in license cancellation on January 1, 2024. Additional information on reinstatement requirements and procedures can be found on the Commission’s Renewal Resource page. What this means to you: As a Broker-In-Charge (BIC) or Property Manager-in-Charge (PMIC), you are responsible for the supervision of all employees and associated licensees (SC Code Ann. §40-57-135(A)(1)). Licensees who engage in the practice of real estate with a lapsed or inactive status license are in violation of SC Code Ann. §§ 40-57-20 and 40-57-780 and may be subject to disciplinary action by the Commission. BICs or PMICs who fail to ensure that their associated licensees are actively licensed while practicing may also be subject to disciplinary action by the Commission. Verifying Associated Licensees: To verify the associated licensees connected with your office, visit the Commission’s Licensee Lookup page. Enter the company name in the field titled “Last/Office Name” and then select “Real Estate Office” from the License Type dropdown. Once the office is selected, a popup will appear with the office registration information and a list of associated licensees located under the “Board Public Action History” section. For any additional questions not answered on the Renewal Resource page, please email the Commission office at contact.rec@llr.sc.gov. Sincerely, Meredith Buttler, CPM Commission Administrator |