193E—5.4(543B) Licensure by reciprocity. The commission may, as provided in Iowa Code section 543B.21, enter into specific written reciprocal licensing agreements or memorandums with other individual states or jurisdictions having similar licensing criteria and grant an Iowa license to licensees from those states or jurisdictions on the same basis as Iowa licensees are granted licenses by those states or jurisdictions.
	5.4(1) The applicant is not a resident of Iowa.
	5.4(2) A license issued pursuant to this rule is based upon a nonresident salesperson or broker license issued by examination.
	5.4(3) A license issued pursuant to this rule is assigned to the same broker or firm as the nonresident license upon which it is based.
	5.4(4) If an applicant establishes residency in Iowa, that person does not qualify for licensure by reciprocal licensing agreement or memorandum.
	5.4(5) An Iowa license issued by reciprocity is based upon the nonresident license issued by examination in that other state or jurisdiction and is issued to the same broker and location as the nonresident license. The nonresident broker and firm, if applicable, must also be licensed in Iowa.
	5.4(6) A reciprocity agreement or memorandum of understanding is only a method to apply for licensure and does not grant any exception to mandatory license laws of Iowa or the other state or jurisdiction.
	5.4(7) An Iowa licensee wishing to obtain a license in any other state or jurisdiction should contact that state’s or jurisdiction’s licensing board for information and applications.
[ARC 7767C, IAB 4/17/24, effective 5/22/24]