This bill introduces a new definition for "post licensing" and modifies the New Hampshire Real Estate Practice Act to accommodate inactive real estate licenses. The term "post licensing" is defined as the period after a natural person is licensed for the first time, starting from the date the license is issued and ending upon the first renewal of that license. The bill also renumbers the existing definition of "principal" from VII-a to VII-b to make room for the new definition.

The bill outlines the conditions under which a real estate licensee can place their license on inactive status, which allows them to preserve their license without engaging in brokerage activities. It specifies that licensees on inactive status must still renew their license biennially and meet continuing education requirements, but they are not required to maintain a place of business or a surety bond. Additionally, the bill provides a process for reinstating an inactive license to active status, which includes demonstrating compliance with continuing education requirements and, for principal or managing brokers, providing evidence of a surety bond. The act is set to take effect 60 days after its passage, with an effective date of October 1, 2024.

Statutes affected:
Introduced: 310:5, 331-A:2
As Amended by the House: 331-A:2
Version adopted by both bodies: 331-A:2
CHAPTERED FINAL VERSION: 331-A:2