License status of employee of agency
- • reissuance upon termination of employment
(1) The license status of a real estate licensee employed by the Real Estate Agency shall be placed on hold at the time that the real estate licensee commences employment with the agency. At the termination of the employment, the license may be returned to the real estate licensee as an active or inactive license. The agency shall activate a license placed on hold without payment of further fee, and the license expires on the date on which it would have expired if the license had not been placed on hold.
(2) During the time of employment at the agency, the employee may not conduct professional real estate activity.
(3) Except as stated in subsection (1) of this section, the real estate licensee is subject to the provisions of ORS 696.010 (Definitions) to 696.495 (Revolving fund), 696.600 (Definitions for ORS 696.392, 696.600 to 696.785 and 696.995) to 696.785 (Commissioner duties when illegal commingling of funds found), 696.800 (Definitions) to 696.870 (Duties of real estate licensee under ORS 105.462 to 105.490, 696.301 and 696.870) and 696.995 (Civil penalties for violation of ORS 696.603, 696.606 or 696.612). [1975 c.746 §16; 1977 c.649 §35; 1983 c.258 §6; 2001 c.300 §63; 2005 c.116 §7; 2017 c.234 §14]
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