(a) The bureau may establish, by regulation, a system for the placement of a license into retired status, upon application and submission to the bureau of a statement as required by Section 6561, for a professional fiduciary who is not actively engaged in the practice of a professional fiduciary or any activity that requires them to be licensed by the bureau.
(b) The bureau shall deny an applicant’s application to place a license in retired status if the license is subject to an outstanding order of the bureau, suspended, placed on probation, revoked, or otherwise restricted by the bureau, or subject to disciplinary action under this chapter.
(c) The holder of a retired license shall not be required to renew that license or submit an annual statement pursuant to Section 6561.
(d) The bureau shall establish minimum qualifications to place a license in retired status.
(e) The bureau shall establish minimum qualifications for the restoration of a license from retired status to active status. These minimum qualifications shall include, but are not limited to, completion of continuing education hours as provided in subdivision (b) of Section 6538, submission of a statement as provided in subdivision (a) of Section 6561, and payment of a fee as provided in subdivision (e) of Section 6592.
(Amended by Stats. 2023, Ch. 680, Sec. 8. (AB 1262) Effective January 1, 2024.)