AR HB2042

Amends the definition of "continuing education" to clarify that courses must be approved by the Arkansas Real Estate Commission or explicitly state that approval is not required by the commission

Clarifies real estate license exemptions for owners, corporate officers, employees, and other specified parties performing acts on property they own, lease, or intend to acquire for themselves

Adds prohibition preventing anyone from qualifying for exemptions if they obtain an equitable interest in real estate on behalf of another person or entity intending to gain a different interest, or if they strategically circumvent licensure requirements to eliminate consumer remedies

Establishes a penalty of up to $250 for brokers, salespersons, or supervising brokers who perform activities requiring an active license while their license is expired or who advertise real property or brokerage activities in violation of state law or adopted rules