§437-24  Licenses terminate, when.  (a)  Any license issued pursuant to this chapter shall terminate upon the permanent or temporary cessation of the business or activity for which it was issued.

     (b)  A salesperson's license shall terminate upon the termination of the license of the dealer by whom the salesperson is employed or upon the termination of the salesperson's employment.

     (c)  Upon the termination, suspension, or revocation of a license, the holder shall deliver it to the board.

     (d)  Where the termination is not the result of suspension or revocation by the board for cause, the board shall reissue the license to the holder without cost if the holder resumes the holder's business or employment within the term for which it was issued. [L 1963, c 199, §1k; Supp, §160-171.2; HRS §437-24; am L 1969, c 263, §1(13); gen ch 1985, 1993; am L 1996, c 264, §7]