| (a) A person residing in another state may apply for a license
under the provisions of Texas Civil Statutes, Article 6573a, (the Act), §14(b)
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) The word "state" refers to the states, territories, and
possessions of the United States and any foreign country or governmental subdivision
thereof.
(e) 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 the Act, §6(c), 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 |
