[(a)A person residing outside of
Texas may apply for a license under this section if the person:]
[(1)is licensed as a foreign broker; or]
[(2)was licensed as a Texas real estate salesperson
or broker no more than two years before filing of the application.]
[(3)The commission may waive education and experience
requirements if the applicant satisfies the conditions established
by §535.56 or §535.55 of this title.]
[(b)A business entity created or
chartered under the laws of a state other than Texas may apply for
a Texas real estate broker license if the entity:]
[(1)is licensed as a broker by the state in which
it was created or chartered;]
[(2)is licensed as a broker in a state in which it
is permitted to engage in real estate brokerage business as a foreign
business entity; or]
[(3)was created or chartered in a state that does
not license business entities and the entity is lawfully engaged in
the practice of real estate brokerage in that state and meets all
other requirements for applications for a license in Texas.]
(a)[(c)] An individual licensed
as a broker who subsequently moves to a state other than Texas is
not required to maintain an office in Texas [unless the individual
sponsors a salesperson in Texas].
(b)[(d)] To be eligible to receive
a license and maintain an active license, a business entity created
or chartered in a state other than Texas must designate a person to
act for it who meets the requirements of §1101.355 of the Act,
although the designated broker is not required to be a resident of
Texas. Foreign business entities must also be permitted to engage
in business in Texas to receive a Texas real estate broker license.
The agency certifies that legal counsel has reviewed
the proposal and found it to be within the state agency's
legal authority
to adopt.
Filed
with the Office of the Secretary of State on February 15, 2023
TRD-202300737 Vanessa E. Burgess
General Counsel
Texas Real Estate Commission
Earliest possible date of adoption: April 2, 2023
For further information, please call: (512) 936-3284
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