5.__Continuing education required.__As a prerequisite to renewal of a home contractor's license, applicants must complete continuing education requirements pursuant to rules adopted by the board.

6.__Renewal.__Licenses expire annually on December 31st or on a date the commissioner determines.__The board shall issue a renewal license upon receipt of the written request for renewal, the annual fee and evidence of satisfactory completion of the continuing education requirement pursuant to subsection 5.__ Licenses may be renewed up to 90 days after expiration upon payment of a late fee in addition to the renewal fee.__A person who submits an application for renewal more than 90 days after the license expiration date is subject to all requirements governing new applicants under this chapter.

§15354.__Home contractor salesperson; license

1.__Professional qualifications.__An applicant for a home contractor salesperson's license must have at least 2 years of trade experience or comparable educational training, as established by rules of the board under section 15344.

2.__Examination.__An applicant must pass an examination approved and adopted by the board, which must include a test of proficiency in the applicable building code under section 15358.

3.__Waiver.__The board may waive the requirements of subsections 2 and 3 for an applicant who for at least 3 years has held a valid license as a home contractor salesperson issued by a jurisdiction outside of the State if the board determines that the licensing requirements of the other jurisdiction are substantially similar to those of this State and the board in the other jurisdiction certifies that the licensee is in good standing.__The out-of-state applicant is subject to all other requirements of this chapter.

4.__Financial responsibilities.__An applicant must demonstrate proof of financial responsibility as determined by rule of the board.__The applicant must file with the board information that includes, but is not limited to:

A.__A complete statement of the general nature of the applicant's contracting business or the applicant's duties;

B.__All outstanding judgments against the applicant in actions arising out of the field of home construction or improvements or other construction work; and