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Expedite Your Application and Avoid a $25 Fee

When a licensee submits an application to the Commission, he or she must be careful to provide all the requested information. The application must be complete and submitted in a timely manner. Licensees must also notify the Commission of certain changes in their status. A licensee who fails to submit complete and timely applications or to make required notifications to the Commission of changes in status within one month will be charged a $25.00 fee.

The Commission will return to an applicant or licensee by mail to the address of record any incomplete application as well as any application on a non-approved or obsolete form. From time to time the Commission updates applications to comply with changes in the law. Therefore, when applicants note a form date at the bottom of the application that is not a recent date, they should either (1) call the Commission at (404) 656-3916 and request that a current application form be sent them by mail or fax or (2) download the appropriate application at the Commission's website at . Once an obsolete or incorrect application has been filed, if the applicant or licensee does not correct any deficiencies noted on an application within (30) days of the date of the notice or the application, the application becomes abandoned. Any fees paid will be forfeited, and the applicant or licensee must submit a new application and fee in order to complete the transaction.

Not only will an incomplete application result in a $25.00 fee, it can also delay the processing of the material submitted. Listed below are some common reasons applications are returned:

Note: For all licenses that require the passing of an examination, fees are collected and the licenses are issued at the AMP test centers. However, the Commission issues original licenses to firms and to applicants for reciprocal licenses that do not require the passing of an exam.

Licensees must also notify the Commission within one month of changes of status such as 1) a change of address; 2) transferring to a new broker; 3) leaving a broker to go on inactive status; or 4) opening or closing a trust account.

Failure to notify the Commission of any of these changes within one month will result in a $25.00 penalty. Likewise any licensee who fails to affiliate with a new firm or apply for inactive status within one month of a broker's releasing the licensee will incur a $25.00 penalty. A $100.00 fee will be charged to anyone who submits to the Commission a check that is returned unpaid.

The information contained in this article is believed to be current and accurate. The GREC staff reviews the contents periodically and updates it when appropriate. If you have questions or comments about this article, you may contact us at . Last reviewed August, 2006.