(a) Subject to subsection (c) of this section, the holder of a reciprocal license has the same rights and responsibilities as a person who holds a comparable standard license issued under this title.
(b) (1) Subject to paragraph (2) of this subsection, a person that holds a reciprocal license issued by the Commission may renew the reciprocal license in accordance with the renewal procedures for the comparable or equivalent standard license under § 17-314 of this title.
(2) At the time of application for the renewal of a reciprocal license, the applicant shall provide proof that the applicant:
(i) continues to hold a current license in the state in which the applicant’s principal place of business is located; and
(ii) is not the subject of a disciplinary action or a current investigation or proceeding alleging misconduct under a real estate licensing law of the state in which the applicant’s principal place of business is located.
(c) The holder of a reciprocal license is:
(1) not eligible to be a member of the Commission;
(2) exempt from the requirements of §§ 17-303, 17-304, 17-305, 17- 315, 17-503, and 17-517 of this title; and
(3) exempt from having to pass an examination required for a comparable standard license.