| (a) A person residing in another state may apply for a license under the provisions of Subchapter H of the Act and this section if the person: (1) is licensed as a broker by the other state; or (2) was licensed as a Texas real estate salesperson or broker no more than six years prior to the filing of the application. The commission may waive examination, education and experience requirements if the applicant satisfies the conditions established by §535.61 of this title (relating to Waiver of Examinations) and by either §535.62 of this title (relating to Brokers: Education and Experience) or §535.63 of this title (relating to Salespersons: Education). (b) A limited liability company created under the laws of another state or a corporation chartered in a state other than Texas may apply for a Texas real estate broker license if the entity meets one of the following requirements. (1) The entity is licensed as a broker by the state in which it was created or chartered. (2) The entity is licensed as a broker in a state in which it is permitted to engage in real estate brokerage business as a foreign limited liability company or corporation. (3) The entity was created or chartered in a state that does not license limited liability companies or corporations, as the case may be, and the entity is lawfully engaged in the practice of real estate brokerage in another state and meets all other requirements for applications for a license in Texas. (c) An individual licensed as a broker who subsequently moves to another state is not required to maintain an office in Texas unless the individual sponsors a salesperson in this state. (d) To be eligible to receive a license and maintain an active license, a limited liability company or corporation created or chartered in another state must designate a person to act for it who meets the requirements of §1101.453 of the Act, although the designated person is not required to be a resident of Texas. Foreign corporations and limited liability companies also must be permitted to engage in business in this state to receive a Texas real estate broker license. |
| Source Note: The provisions of this §535.132 adopted to be effective January 1, 1976; amended to be effective November 14, 1979, 4 TexReg 4002; amended to be effective July 20, 1981, 6 TexReg 2291; amended to be effective April 15, 1982, 7 TexReg 1369; amended to be effective November 23, 1993, 18 TexReg 8198; amended to be effective April 1, 1996, 21 TexReg 1660; amended to be effective December 1, 1997, 22 TexReg 11361; amended to be effective October 1, 2000, 25 TexReg 8645; amended to be effective August 31, 2004, 29 TexReg 8296; amended to be effective January 1, 2011, 35 TexReg 11690 |
