What is the status of a leasing agent's license once they provide notice of changing employment and their current broker returns the license?

When a leasing agent changes employment and submits notice to their current broker, the license is returned to the state, which then changes its status to inoperative or inactive. This means that while the licensing agent is still technically licensed, they are not currently authorized to engage in leasing activities until they secure a new broker and reactivate their license.

An expired license would imply that it is no longer valid due to the passage of time or failure to renew, while an active license indicates that the agent is fully authorized to conduct leasing operations under a broker's supervision. A terminated status would suggest that the license has been permanently revoked or canceled, which is not the case when simply switching brokers. Therefore, inoperative or inactive is the correct terminology reflecting the temporary condition of the license upon this change of employment.