This is a facsimile of the original document, duplicate originals of this Agreement shall be retained by each state.

Idaho License Recognition License Requirements for Tennessee Licensees

This Agreement is between the Real Estate Commission of the State of Idaho (hereinafter referred to as "Idaho") and the Real Estate Commission of the State of Tennessee (hereinafter referred to as "Tennessee").

WHEREAS Idaho and Tennessee desire to enter into an agreement concerning the granting of real estate licenses in their respective states; and

WHEREAS the Real Estate Commission of the State of Idaho and the Tennessee Real Estate Commission have the legal authority to enter into this License Recognition agreement, (hereinafter referred to as "Agreement");

WHEREAS the purpose this Agreement is to facilitate business and commerce between the two states while coordinating the efforts of each state to oversee the activities of licensees and better protect consumers, and is in the public interest of the citizens of Idaho and Tennessee:

NOW, THEREFORE, IT IS AGREED THAT LICENSES MAY BE GRANTED UPON THE FOLLOWING TERMS AND CONDITIONS:

1. The successful completion of the Idaho real estate salesperson's licensing examination, and the granting of a real estate salesperson's license by Idaho, shall be recognized by Tennessee in satisfaction of its licensing examination and prelicense real estate education requirements for real estate salesperson, and will enable an Idaho salesperson to obtain, upon filing the proper application and payment of the required fees, a Tennessee salesperson's license.

2. The successful completion of the Tennessee real estate salesperson's licensing examination, and the granting of a resident real estate salesperson's license by Tennessee, shall be recognized by Idaho in satisfaction of its licensing examination and prelicense real estate education requirements for real estate salesperson, and will enable a Tennessee salesperson to obtain, upon filing the proper application and payment of the required fees, a primary Idaho salesperson's license.

3. The successful completion of the Idaho real estate broker's licensing examination and the granting of a primary real estate broker's license by Idaho shall be recognized by Tennessee in satisfaction of its licensing examination, prelicense real estate education, and broker experience requirements for real estate broker and will enable an Idaho broker to obtain, upon filing the proper application and payment of required fees, a Tennessee real estate broker's license.

4. The successful completion of the Tennessee real estate broker's licensing examination and the granting of a real estate broker's license by Tennessee shall be recognized by Idaho in satisfaction of its licensing examination, prelicense real estate education, and broker experience requirements for real estate broker and will enable a Tennessee broker to obtain, upon the filing of the proper application and payment of required fees, a primary Idaho real estate broker's license.

5. The parties to this Agreement shall issue, renew and continue a license only where a licensee granted a license under this Agreement complies with the continuing education requirements of that state, or of the licensee's state of residence (provided the licensee maintains the license issued by his state of residence), and the licensee provides proof of such compliance in the form required by the state issuing or renewing the license. Should it appear to either licensing authority, in its good judgment, that an applicant is seeking a change in licensure, from one state to the other, for the purpose of avoiding the continuing education requirements of the states, such authority may deny the application for licensure, or may require proof of completed continuing education course work before issuing or renewing the license.

6. The applicant's state of residence shall, if requested by the state issuing the license, provide a certificate of license history certifying the applicant's current licensure and good standing in the applicant's state of residence. The certification shall include:
   1. The applicant's name, business name and address;

   2. The type of license held;

   3. The dates of licensure and the expiration date of current license;

   4. Whether the license was issued by examination, reciprocity, or other;

   5. Statement showing a clear record of any disciplinary actions taken.

7. Applicants for licensure under this Agreement shall agree to be bound by the statutes and regulations of the state issuing the license, including the laws regarding the proper location of trust funds and entrusted property.

8. Applicants for licensure under this Agreement shall agree to the service of process in any civil action in the form prescribed by the state issuing the license.

9. Applicants for licensure under this Agreement shall agree to submit to the jurisdiction of the state issuing the license, for purposes of audit, investigation and disciplinary action.

10. The duration of this Agreement shall be ongoing until terminated in accordance with the terms herein.

11. The provisions of this Agreement shall be administered in Idaho by the Idaho Real Estate Commission through its Executive Director, and, in Tennessee, by the Tennessee Real Estate Commission through its Executive Director.

12. It is anticipated that no real or personal property shall be required for the administration of this Agreement.

13. The right is hereby reserved by either or both of the above-mentioned licensing authorities to, in the exercise of its discretion, refuse any application for licensure for just cause.

14. It is anticipated that all funds necessary to finance the administrative costs of this program will be borne by the licensing authority of each state consistent with that state's funding requirements. There will be no joint funding nor any shared costs of administration between the two state licensing authorities.

15. This Agreement may be terminated by either state, at any time, by written notification to the other state. Any such termination will occur midnight of the 60^th day after written notice is received by the other state. The notice of termination shall recite, within it, the effective date of the termination.

16. The parties acknowledge that, pursuant to section 67-2329, Idaho Code, this shall become effective upon filing with and approval by the Idaho Secretary of State.

Donna M. Jones Executive Director, for IDAHO REAL ESTATE COMMISSION on May 8, 2001

Bruce E. Lynn, Executive Director, for TENNESSEE REAL ESTATE COMMISSION on May 1, 2001