In the cases of termination of a licensee, closing a firm, or change of license status, how many days must the licenses be returned to the board?

In Virginia, when there is a termination of a licensee, closing of a firm, or any change in license status, the licenses must be returned to the board within ten calendar days. This requirement ensures that the board has up-to-date records of active and inactive licenses, which is essential for maintaining regulatory compliance and proper oversight of real estate practices in the state. Timely reporting and return of licenses can also help prevent unauthorized practice and protect consumers in the real estate market. The focus on calendar days emphasizes the necessity for prompt action in these situations, as it applies to all days of the week, including weekends and holidays, highlighting the urgency of adherence to licensing regulations.