How many days does a principal broker have to notify the Arkansas Real Estate Commission after a licensee has been discharged or terminated?

The principal broker is required to notify the Arkansas Real Estate Commission within a specific timeframe after a licensee has been discharged or terminated to ensure that the Commission has accurate and up-to-date records of active licensees. This requirement is critical for maintaining accountability and compliance with state regulations governing real estate activity.

In Arkansas, the correct time frame for notification is seven days following the discharge or termination of a licensee. This ensures that the Commission can promptly update its records and take necessary actions, such as deactivating a license, thereby avoiding any potential misrepresentation by the terminated licensee.

While other time frames may seem plausible, they do not align with the specific statutory requirements set forth by the Commission. Adhering to the seven-day notification rule is integral for both the principal broker and the Commission in upholding the integrity of real estate practices in Arkansas.