SB27-SSA1,1323,23 452.12 (4) Register of brokers and salespersons. The department shall maintain the register required by s. 440.035 (4). The board shall include in the register the board maintains under s. 440.035 (4) the names of all brokers and salespersons whose licenses have been were revoked at any time within the past 2 years prior to the issuance thereof shall be included in the register. The register shall be available for purchase at cost.

SB27-SSA1, s. 3255m Section 3255m. 452.12 (5) (a) of the statutes is amended to read:

SB27-SSA1,1324,6 452.12 (5) (a) Renewal applications for all licenses shall be submitted with the applicable renewal fee determined by the department under s. 440.03 (9) (a) on or before the applicable renewal date specified under s. 440.08 (2) (a). The department shall pay $10 of each renewal fee received under this paragraph to the Board of Regents of the University of Wisconsin System for research and educational, public outreach, and grant activities under s. 36.25 (34).

SB27-SSA1, s. 2098 Section 2098. 452.12 (5) (b) of the statutes is amended to read:

SB27-SSA1,1324,10 452.12 (5) (b) If an application for renewal is not filed with the department board on or before the renewal date, the applicant may not engage in any of the activities covered by the license until the license is renewed or a new license is issued.

SB27-SSA1, s. 3256m Section 3256m. 452.12 (5) (c) 1. of the statutes is renumbered 452.12 (5) (c) and amended to read:

SB27-SSA1,1324,15 452.12 (5) (c) At the time of renewal, each broker or salesperson shall submit proof of attendance at and successful completion of continuing education programs or courses approved under s. 452.05 (1) (g), except as provided in subd. 2.

SB27-SSA1, s. 3257j Section 3257j. 452.12 (5) (c) 2. of the statutes is repealed.

SB27-SSA1, s. 2099 Section 2099. 452.12 (6) (b) of the statutes is amended to read:

SB27-SSA1,1324,20 452.12 (6) (b) Unless an applicant's license has been revoked or suspended under s. 452.14 (3), the department board may register the applicant under par. (a) as an inactive licensee upon payment of a $15 fee.

SB27-SSA1, s. 2100 Section 2100. 452.12 (6) (d) of the statutes is amended to read:

SB27-SSA1,1324,25 452.12 (6) (d) If an inactive licensee files an application for reinstatement before January 1, 1996, the department board shall reinstate the inactive licensee's original license in accordance with the requirements for late renewal under s. 440.08 (3).

SB27-SSA1, s. 2101 Section 2101. 452.12 (6) (e) (intro.) of the statutes is amended to read:

SB27-SSA1,1325,4 452.12 (6) (e) (intro.) Except as provided in ss. 440.03 (11m) (b), 440.12 and 440.13 (2) (a) (c), the department board shall reinstate an inactive licensee's original license as follows:

SB27-SSA1, s. 2102 Section 2102. 452.12 (6) (e) 1. of the statutes is amended to read:

SB27-SSA1,1325,11 452.12 (6) (e) 1. If a person has registered as an inactive licensee before November 1, 1990, the department board shall reinstate the person's original license if that person applies to the department board for reinstatement of his or her original license, pays the fee specified under s. 440.05 (1), passes an examination under s. 452.09 (3), and completes the education requirements established by the department board under par. (f).

SB27-SSA1, s. 2103 Section 2103. 452.12 (6) (e) 2. of the statutes is amended to read:

SB27-SSA1,1325,22 452.12 (6) (e) 2. If a person has registered as an inactive licensee on or after November 1, 1990, the department board shall reinstate the person's original license if that person applies to the department board for reinstatement of his or her original license, pays the renewal fee determined by the department under s. 440.03 (9) (a) for the original license and completes 12 hours of the continuing education as requirements established by the department board under par. (f). A person who is eligible for reinstatement of his or her original license under this subdivision shall complete the requirements for reinstatement under this subdivision before January 1, 1996, or within 5 years after the date on which the person registered as an inactive licensee, whichever is later.

SB27-SSA1, s. 2104 Section 2104. 452.12 (6) (e) 3. of the statutes is amended to read:

SB27-SSA1,1326,3 452.12 (6) (e) 3. If a person who is eligible for reinstatement of his or her original license under subd. 2. does not complete the requirements for reinstatement within the time specified under subd. 2., the department board shall reinstate the original license of that person if he or she meets the requirements specified under subd. 1.

SB27-SSA1, s. 2105 Section 2105. 452.12 (6) (f) of the statutes is amended to read:

SB27-SSA1,1326,7 452.12 (6) (f) The department board shall promulgate rules establishing the education requirements that applicants for reinstatement of original licenses under par. (e) must satisfy.

SB27-SSA1, s. 2106 Section 2106. 452.13 (2) (b) 1. of the statutes is amended to read:

SB27-SSA1,1326,11 452.13 (2) (b) 1. Register with the department of regulation and licensing safety and professional services the name and address of the depository institution and the number of the interest-bearing common trust account.

SB27-SSA1, s. 2107 Section 2107. 452.13 (2) (b) 2. of the statutes is amended to read:

SB27-SSA1,1326,15 452.13 (2) (b) 2. Notify the department of regulation and licensing safety and professional services when any of the information required under subd. 1. is changed.

SB27-SSA1, s. 2108 Section 2108. 452.13 (2) (b) 3. of the statutes is amended to read:

SB27-SSA1,1326,22 452.13 (2) (b) 3. Furnish the department of regulation and licensing safety and professional services with a letter authorizing the department of regulation and licensing safety and professional services and the department of commerce administration to examine and audit the interest-bearing common trust account whenever the department of regulation and licensing safety and professional services or the department of commerce administration considers it necessary.

SB27-SSA1, s. 2109 Section 2109. 452.13 (2) (bm) of the statutes is amended to read: