(a)Except as otherwise provided by the Act or Rules, a broker or salesperson may not share a commission or fees with any person who engages in acts for which a license is required and is not actively licensed as a broker or salesperson. (b)An unlicensed person may share in the income earned by a business entity licensed as a broker or exempted from the licensing requirements under the Act if the person engages in no acts for which a license is required and does not lead the public to believe that the person is in the real estate brokerage business. (c)A broker or salesperson may not share a commission or fees with an unlicensed corporation or limited liability company created by a licensee for the purpose of collecting a commission or fees on behalf of the licensee. [(a)"Any other state" means the states, territories, and possessions of the United States and any foreign country or governmental subdivision thereof.] [(b)"Commission or fees" includes any form of compensation received for engaging in an act for which a license is required by Texas Occupations Code, Chapter 1101.] (d)[(c)] It is not a violation of this section for a licensee to rebate or pay a portion of the licensee's commission or fees [fee or commission] to a party in the transaction. However, no commission or fees may be paid to any party to the transaction in a manner which would mislead a broker, lender, title company or governmental agency regarding the real estate transaction or the financial resources or obligations of the buyer. A licensee who intends to pay a portion of the licensee's fee or commission to a party the licensee does not represent must obtain the consent of the party represented by the licensee prior to making the payment.
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 August 26, 2010
TRD-201005030 Loretta R. DeHay
General Counsel
Texas Real Estate Commission
Earliest possible date of adoption: October 10, 2010
For further information, please call: (512) 465-3926
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