The following terms and phrases, when used in this chapter,
have the following meanings unless the context clearly indicates otherwise.
(1)Act--Chapter 1101, Texas Occupations
|, Chapter 1101].
(2)Business entity--A domestic or foreign corporation,
limited liability company, partnership or other entity
authorized under the Texas Business Organizations Code to engage in
[ the] real estate brokerage business in Texas and required
to be licensed under the Act.
(3)Chapter 1102--Chapter 1102, Texas Occupations
Code[ , Chapter 1102].
(4)Commission--The Texas Real Estate Commission.
(5)Compensation--A commission, fee, or
other valuable consideration for real estate brokerage services provided
by a license holder under the Act.
[(6) Delivered--Sent by United States
Mail to the last known mailing address or by email to the last known
email address of a license holder or an applicant.]
(6)[ (7)] Executive Director--The
Executive Director of the Texas Real Estate Commission.
(7)[ (8)] Foreign broker--A real
estate broker licensed in another country, territory, or
state other than Texas.
(8)[ (9)] License--Any Commission
license, registration, certificate, approval, or similar form of permission
required by law.
(9)[ (10)] License holder--A
person licensed or registered by the Commission under Chapter 1101
or 1102, Texas Occupations Code.
(10)[ (11)] Place of business--A
place where the license holder meets with clients and customers to
(11)[ (12)] Trade Association--
A [ a] nonprofit voluntary member association or organization:
(A)whose membership consists primarily of persons
who are licensed as real estate license holders and pay membership
dues to the association or organization;
(B)that is governed by a board of directors elected
by the members; and
(C)that subscribes to a written code of professional
conduct or ethics.
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
Vanessa E. Burgess
Texas Real Estate Commission
Earliest possible date of adoption: April 2, 2023
For further information, please call: (512) 936-3284