NOTE: §1442 eff. until April 1, 2022. See Acts 2021, No. 193.

§1442. License, certificate, and registration issuance and renewal

            A. Each license, certificate, or registration issued under this Chapter shall be issued for a period of one year and shall expire on December thirty-first following the date upon which it is issued. Each license, certificate, or registration shall be renewed annually. Conducting any activity authorized by the license, certificate, or registration after the expiration of the license, certificate, or registration shall be deemed a violation of this Chapter. Licenses, certificates, or registrations not renewed by January first shall be considered expired.

            B. Any licensee or registrant who fails to renew timely may thereafter renew upon payment of the appropriate renewal and delinquent fees and upon filing of a complete renewal application. The period for delinquent renewal of an expired license or registration shall be limited to the three-month period immediately following the expiration date of the active license or registration. Failure to delinquently renew an expired license or registration during this three-month period shall result in a forfeiture of renewal rights and shall require the former licensee or registrant to apply as an initial applicant and meet all requirements of an initial applicant.

            C. Any inactive licensee who fails to renew timely may thereafter renew upon payment of the appropriate renewal fees and filing of a complete renewal application. The period for delinquent renewal of an expired delinquent inactive license will be limited to the three-month period immediately following the expiration date of the inactive license. Failure to renew delinquently an expired inactive license during the three-month period will result in the forfeiture of renewal rights and will require the former licensee to apply as an initial applicant and meet all requirements of an initial applicant.

            D. Timeshare registrants who fail to renew timely may thereafter renew within three months of the expiration of their registration upon payment of a delinquency renewal fee; however, registered developers of timeshare projects who qualify under Section 5 of Act No. 999 of the 1985 Regular Session of the Legislature but who fail to renew timely shall no longer qualify under that Section.

NOTE: §1442 as amended by Acts 2021, No. 193, eff. April 1, 2022.

§1442. License and registration issuance and renewal

            A.(1) Each license or registration issued pursuant to this Chapter shall be:

            (a) Effective for a period of one year.

            (b) Renewed timely on or before September thirtieth annually.

            (c) Expired on December thirty-first following the date upon which it is issued.

            (2) A licensee or registrant who conducts any activity authorized by the license or registration after the expiration of the license or registration shall be deemed in violation of this Chapter.

            B.(1) Any licensee or registrant who fails to renew timely may renew the license or registration delinquently by submitting all of the following no later than December thirty-first annually:

            (a) Payment of the appropriate renewal and delinquent fees prescribed by this Chapter.

            (b) A complete renewal application.

            (2) A licensee or registrant who fails to delinquently renew a license or registration by December thirty-first forfeits his renewal rights, and the former licensee or registrant shall be required to apply as an initial applicant and meet all requirements of an initial applicant. However, notwithstanding any other provision of this Chapter, nothing in this Paragraph requires the former licensee or registrant to complete the ninety hours of real estate coursework, which is required prior to initial licensure pursuant to R.S. 37:1437.

            C. Notwithstanding any provision of law to the contrary, registered timeshare developers who qualify pursuant to Section 5 of Act No. 999 of the 1985 Regular Session of the Legislature and who fail to renew timely shall no longer qualify pursuant to that Act.

            Acts 1983, No. 269, §1; Acts 1983, No. 552, §2; Acts 1986, No. 840, §1; Acts 1989, No. 655, §1, eff. Jan. 1, 1990; Acts 1995, No. 1207, §1; Acts 1999, No. 452, §2; Acts 2007, No. 35, §1; Acts 2021, No. 193, §1, eff. April 1, 2022.

            NOTE: See Acts 2021, No. 193, §2, regarding license or registration renewal.