1. The Division may place a license on inactive status for any of the following reasons:
(a) At the request of the licensee.
(b) If a broker’s license or a corporate officer’s license, for failure to immediately notify the Division in writing of any change in the name of the licensee’s firm or its business location.
(c) If a broker-salesperson’s license or a salesperson’s license, for failure to notify the Division of a change in the broker or owner-developer with whom the licensee will be associated within 30 days after the licensee’s previous association was terminated.
(d) For failure to apply and pay the fee for renewal before the license expired.
(e) If inactivated upon the placing of the broker under whose supervision the licensee worked in an inactive status.
(f) As a result of a formal disciplinary proceeding.
2. Any licensee whose license has been placed on inactive status may not engage in the business of a real estate broker, broker-salesperson or salesperson until the licensee has met all of the requirements for reinstatement of his or her license to active status.
(Added to NRS by 1979, 1532; A 1985, 1267)