| (a) Pursuant to §1702.122 of the Act, if a company
representative ceases to be connected with a company license holder,
the business may be temporarily operated by an owner, officer, partner,
or shareholder for a period not to exceed ninety (90) days following
the date the company representative ceases to be connected with the
company license holder.
(b) Continued operation of the company in a regulated
capacity beyond the ninety (90) day period provided in subsection
(a) of this section, without a qualified company representative, is
a violation of the Act.
(c) An individual whose registration as a qualified
manager expires on September 1, 2019, under the provisions of the
86th Legislature, Senate Bill 616, may continue to function as the
company representative until the later of either September 1, 2020,
or until the company license expires. Upon renewal of the company
license, the company representative must meet the requirements of §35.41(c)
of this title (relating to Company Representative).
(d) An individual may not continue to function as the
company representative, and is deemed to no longer be connected with
the company for purposes of this section, should the individual fail
to meet the eligibility criteria provided in the Act and this chapter.
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