(a)Renewal application.
(1)A real estate license expires on the date shown
on the face of the license issued to the license holder.
(2)If a license holder intends to renew an unexpired
license, the license holder must, on or before the expiration date
of the current license:
(A)file a renewal application through the online process
on the Commission's website or on the applicable form approved by
the Commission;
(B)submit the appropriate fee required by §535.101
of this title;
(C)comply with the fingerprinting requirements under
the Act;
(D)comply with the policies established by the Texas
Education Code, §57.491 regarding default of a student loan;
and
(E)except as provided for by this subsection (g) of
this section, satisfy the continuing education requirements applicable
to that license.
(3)The Commission may request additional information
be provided to the Commission in connection with an renewal application.
(4)A license holder is required to provide information
requested by the Commission not later than the 30 day after the date
the commission requests the information. Failure to provide information
is grounds for disciplinary action.
(b)Renewal Notice.
(1)The Commission will deliver a license renewal notice
to a license holder three months before the expiration of the license
holder's current license.
(2)If a license holder intends to renew a license,
failure to receive a license renewal notice from the Commission does
not relieve a license holder from the requirements of this subsection.
(3)The Commission has no obligation to notify any
license holder who has failed to provide the Commission with the person's
mailing address and email address or a corporation, limited liability
company, or partnership that has failed to designate an officer, manager,
or partner who meets the requirements of the Act.
(c)Timely renewal of a license.
(1)A renewal application for an individual broker
or sales agent is [considered to be] filed timely
if it is received by the Commission, or postmarked, on or before the
license expiration date [of the license].
(2)A renewal application for a business entity
broker is filed timely if the application and all required supporting
documentation is received by the Commission, or postmarked, not later
than the 10th business day before the license expiration date.
(3)If the license expires on a Saturday,
Sunday or any other day on which the Commission is not open for business,
a renewal application is considered to be filed timely if the application
is received or postmarked no later than the first business day after
the expiration date of the license.
(d)Initial renewal of sales agent license. A sales
agent applying for the first renewal of a sales agent license must:
(1)submit documentation to the Commission showing
successful completion of the additional educational requirements of §535.55
of this chapter no later than 10 business days before the day the
sales agent files the renewal application; and
(2)fulfill the continuing education requirements of §535.92(a)(1)
and (a)(2) of this subchapter and §535.92(a)(3) of this subchapter,
if applicable.
(e)Renewal of license issued to a business entity.
The Commission will not renew a license issued to a business entity
unless the business entity:
(1)has designated a corporate [an]
officer, an LLC manager, an LLC member with managing
authority, or a general partner who:
(A)is a licensed broker in active status and good
standing with the Commission;
(B)completes any applicable continuing education required
under of §535.92; [and]
(2)maintains errors and omissions insurance with a
minimum annual limit of $1 million per occurrence if the designated
broker [person] owns less than 10 percent of the
business entity; and
(3)is currently eligible to transact
business in Texas.
(f) - (i)(No change.)
The agency certifies that legal counsel has
reviewed
the proposal and found it to be within the state agency's legal authority
to adopt.
Filed with the Office
of the Secretary of State on May 4, 2017
TRD-201701813 Kerri Lewis
General Counsel
Texas Real Estate Commission
Earliest possible date of adoption: June 18, 2017
For further information, please call: (512) 936-3092
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