(1) A licensee who wishes to retain his/her license but not engage in licensed activities shall place his or her license on inactive status by:

(a) paying the required fee in accordance with 37-51-311 (2) , MCA, and ARM 24.210.401;

(b) forwarding the license to the board office for cancellation of active license; and

(c) indicating, in writing, "inactive at present";

(d) a real estate licensee who has caused the licensee's real estate license to be placed on inactive status with the board has the sole responsibility to keep the board informed as to any change of the licensee's residency or mailing address during the period of time the real estate licensee remains on inactive status.

(2) Inactive licensees must pay the renewal fee, must annually complete the required education and provide verification of the necessary education to maintain licensed status.