Immediately upon the salesperson’s withdrawal from the employ of the broker, the broker shall return the salesperson’s license to the bureau for cancellation. A license canceled but not suspended or revoked may be reinstated within the fiscal year upon receipt of application therefor and the fee for the reinstatement of the license.
Source:
Section 7652.3, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=BPC§ionNum=7652.3..