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(a)
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(1) All certificates of authority issued pursuant to the provisions of this chapter shall expire on the same date, irrespective of when issued.
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(2) Expiration dates of the certificates, either renewal or original, shall be the July 1 following the year from the preceding expiration date.
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(b) Current and subsisting certificates of authority shall be renewed as provided for in this section for a one-year period upon payment of a renewal fee in the sum to be set by the Arkansas Abstracters’ Board.
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(c)
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(1)
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(A) No more than sixty (60) days nor less than thirty (30) days before the expiration date of the certificate issued, the board shall cause a notice of expiration and application for renewal to be mailed to each of the holders of the certificates.
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(B) The notice and application shall be in a form prepared by the board.
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(2) Upon determination by the board of the applicant’s compliance with this chapter, a renewal certificate of authority shall be issued to the applicant.
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(d)
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(1)
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(A) If a holder of a certificate of authority fails to apply for renewal of his or her authority and to pay the fee provided therefor, the board shall cause to be mailed to the holder a notice that his or her certificate has expired and is no longer valid authority for the person to engage in the business of abstracting.
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(B) The notice shall be mailed not more than thirty (30) days following the certificate expiration date.
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(C) The holder shall be granted an additional period of sixty (60) days from the date of mailing the notice within which to file his or her application for renewal.
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(2)
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(A) The name of any holder failing to renew his or her authority pursuant to the terms of this section shall be stricken from the records of the board.
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(B) Such a person, firm, or corporation shall no longer engage in the business of abstracting in this state until so authorized by the board.
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