Texas Register
TITLE 22 EXAMINING BOARDS
PART 23TEXAS REAL ESTATE COMMISSION
CHAPTER 535PROVISIONS OF THE REAL ESTATE LICENSE ACT
SUBCHAPTER NSUSPENSION AND REVOCATION OF LICENSURE
RULE §535.156Dishonesty; Bad Faith; Untrustworthiness
ISSUE 05/26/2000
ACTION Proposed
Preamble Texas Admin Code Rule
(a)A licensee's relationship with the licensee's principal is that of a fiduciary. A licensee shall convey to the principal all known information which would affect the principal's decision on whether or not to make, accept or reject offers; however, if the principal has agreed in writing that offers are not to be submitted after the principal has entered into a contract to buy, sell, rent, or lease a property the licensee shall have no duty to submit offers to the principal after the principal has accepted an offer.

(b) - (d)(No change.)

This agency hereby certifies that the proposal has been reviewed by legal counsel and found to be within the agency's legal authority to adopt.

Filed with the Office of the Secretary of State, on May 12, 2000

TRD-200003342

Mark A. Moseley

General Counsel

Texas Real Estate Commission

Earliest possible date of adoption: June 25, 2000

For further information, please call: (512) 465-3900

 

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