(a)(No change.) (b)When the sponsorship of a salesperson ends, the broker shall immediately return the salesperson's license or copy thereof [ certificate] to the commission or otherwise notify the commission that the sponsorship has ended. The commission will no longer consider the broker to sponsor the salesperson upon receipt of the license [certificate ] or upon receipt of a written request from a new sponsoring broker to sponsor the salesperson, whichever first occurs. If the sponsorship has ended because the broker has terminated the sponsorship, the broker shall immediately so notify the salesperson in writing. If the sponsorship has ended because the salesperson has left the sponsorship, the salesperson shall immediately so notify the broker in writing. If the commission receives a request from a broker to sponsor a salesperson shown in the commission's records as sponsored by another broker, the commission shall notify the former broker of the change in sponsorship [and request the former broker to return the license certificate to the commission]. (c)A salesperson's license becomes inactive when a broker returns a salesperson's license to the commission until a new sponsorship form for the salesperson is mailed or delivered to the commission.
This
agency hereby certifies that the proposal has been reviewed
by legal counsel and found to be within the agency's legal authority to adopt.
Filed with the Office of
the Secretary of State on April 27, 2005
TRD-200501730 Loretta DeHay
General Counsel
Texas Real Estate Commission
Earliest possible date of adoption: June 12, 2005
For further information, please call: (512) 465-3900
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