CHAPTER 653

An Act to amend and reenact § 54-758, as amended, of the Code of Vir-
ginia, relating to expiration and renewal of real estate brokers’ and
real estate salesmen’s licenses. 8 486)

Approved April 6, 1966

Be it enacted by the General Assembly of Virginia:

1. That § 54-758, as amended, of the Code of Virginia be amended and
reenacted as follows:

§ 54-758. Every license shall expire on the thirtieth day of June of
each year. The Commission shall issue a new license for each ensuing year,
in the absence of any reason or condition which might warrant the refusal
of the granting of a license, upon receipt of the written request of the
applicant and the annual fee therefor not later than July thirty-one; after
such date the fee for renewal shall be twelve dollars in the case of real
estate brokers and six dollars in the case of real estate salesmen. The
Commission shall mail each license holder at least thirty days prior to the
first day of July of each year notice of the expiration of license and the fees
for regular and late renewal thereof. If any licensee, except a licensee
called into military service while actively engaged as a real estate broker or
salesman, fail to renew his license within one year from the date of July
thirty-one as herein provided, his license shall lapse, and he shall thereafter
be required to apply as an original applicant.

Provided that no renewal license as a real estate broker shall be issued
by the Commission until the applicant therefor certifies to the Commission
in such form as the Commission may prescribe, that his State revenue
license as a real estate broker for the previous year has been paid, and has
proven financial responsibility to the satisfaction of the Commission or tn
lieu thereof filed a bond in the amount of ten thousand dollars as required
by § 54-767.

2. This act shall be effective July one, nineteen hundred sixty-six.