Texas Register
TITLE 22 EXAMINING BOARDS
PART 23TEXAS REAL ESTATE COMMISSION
CHAPTER 535GENERAL PROVISIONS
SUBCHAPTER EREQUIREMENTS FOR LICENSURE
RULE §535.53Corporations and Limited Liability Companies
ISSUE 09/10/2010
ACTION Proposed
Preamble Texas Admin Code Rule
(a)For the purposes of qualifying for, maintaining, or renewing a license, a corporation or limited liability company must designate one individual [person] holding an active Texas real estate broker license to act for it. The designated broker must be an officer of the corporation or a manager of a limited liability company. The corporation or limited liability company may not act as a broker during any period in which it has not designated a person to act for it who meets the requirements of [Texas Occupations Code, Chapter 1101 (]the Act[)]. Upon any change in the corporation or limited liability company's designated individual, the corporation or limited liability company must provide proof to the commission of the designated individual's current status as an officer or manager for that entity. A broker may not act as a designated person at any time while the broker's license is inactive, expired, suspended or revoked.

(b)(No change.)

(c)If a licensed corporation or limited liability company is dissolved with the Office of the Secretary of State, then the license immediately becomes null and void.

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 August 26, 2010

TRD-201005024

Loretta R. DeHay

General Counsel

Texas Real Estate Commission

Earliest possible date of adoption: October 10, 2010

For further information, please call: (512) 465-3926

 

Next Page       Previous Page

Link to Texas Secretary of State Home Page | link to Texas Register home page | link to Texas Administrative Code home page | link to Open Meetings home page