Effective April 1, 2022, Act 193 of the 2021 Regular Legislative Session became law. Accordingly, the license renewal period is changing, beginning this year.
The new renewal period for 2023 licenses is as follows:
• Timely Renewal Period: August 1, 2022 – September 30, 2022
• First Delinquent Renewal Period: October 1, 2022 – November 15, 2022
($50 delinquent fee for active and inactive licensees)
• Second Delinquent Renewal Period: November 16, 2022 – December 31, 2022
($50 delinquent fee for inactive licensees; $200 delinquent fee for active licensees)
Failure to renew your license during the timely renewal period (August 1, 2022 – September 30, 2022) will result in a delinquent fee when renewing between October 1, 2022 – December 31, 2022.
Failure to renew your license by December 31, 2022 will result in expiration of your license.
Licensees or registrants who fail to delinquently renew a license or registration by December 31 forfeit their renewal rights, and the former licensees or registrants shall be required to apply as an initial applicant and meet all requirements of an initial applicant.
No. All licensees renewing in the active status shall complete the 12-hour continuing education requirement, including mandatory course hours, on or before December 31, 2022. You may renew your license prior to completing the education requirement. However, failure to complete your required education by December 31 will be considered a violation of LREC law and rules, and you will be subject to the annual continuing education audit and a possible fine.
Yes. Licensees are required to prove that they have purchased Errors and Omissions coverage for January 1, 2023 – December 31, 2023. This can be done either by selecting the LREC group insurance policy or submitting an Independent E&O Coverage form and a copy of your policy declaration page during renewal.
Licensees who choose the LREC Group E&O Policy will pay: Sales Renewal + E&O = $219 Associate Broker/Broker + E&O = $254 Licensees who choose to purchase E&O through a third party and provide proof during renewal will be charged the renewal fee + $7 processing fee: Sales Renewal + processing fee = $77 Associate Broker/Broker + processing fee = $112 Licensees who fail to renew by September 30 will also be subject to delinquent fees.
Yes. All licenses must be renewed by December 31, 2022 to avoid expiration. If your license was issued January 1, 2022 to August 31, 2022 you must renew prior to September 30, 2022 to avoid delinquent renewal fees. If your license was issued on or after September 1, 2022, you must renew no later than December 31, 2022, but you will not be subject to any delinquent fees.
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