Section 62-13-318 - Temporary retirement(a)(1) Upon written request accompanied by the license and the fee for change of status, any real estate firm, real estate broker, affiliate broker, time-share salesperson, or acquisition agent may temporarily retire the license.(2) If the retiree wishes to remain in retirement for any portion of a subsequent license renewal period, the retiree shall pay the required license renewal fee prior to the license expiration date.(3) No retired licensee may engage in any act defined in § 62-13-102.(4) The retiree is responsible for advising the commission of the retiree's current mailing address.(b)(1) A licensee wishing to reactivate a license from retirement status shall submit the proper form and fee for a change of status.(2) Reactivation of a temporarily retired license shall not be permitted until the licensee provides proof of completion of sixteen (16) classroom hours in real estate courses as specified in § 62-13-303 during the current license renewal period.(c) Any license in inactive status with the commission on July 1, 2016, shall be transferred to retirement status on that date.(d) Notwithstanding the requirements of this section or § 62-13-319, if a licensee is in good standing with the commission at the time the person's license is temporarily retired and, as a retiree, the person has not paid the license renewal fee as required under subdivision (a)(2), causing the license to lapse, then the person may reactivate the license upon: (1) Payment of all back renewal fees owed and any penalty imposed by the commission resulting from the lapsed license; and(2) Submission of proof of completion of all classroom hours in real estate courses that would have been required under § 62-13-303 if the licensee had instead maintained an active license during the period of temporary retirement.Amended by 2024 Tenn. Acts, ch. 734,s 1, eff. 7/1/2024.Amended by 2016 Tenn. Acts, ch. 838, s 10, eff. 7/1/2016.Acts 1975, ch. 148, §§ 1-3; 1980, ch. 707, § 3; 1981, ch. 473, §§ 16, 17; T.C.A., §§ 62-1340 -- 62-1342; Acts 1982, ch. 864, § 13; 1984, ch. 810, §§ 8-10; 1988, ch. 919, § 11; 1990, ch. 946, § 8; 2004, ch. 456, § 3.