(a)(No change.) (b)A business entity [limited liability company] created or chartered under the laws of another state [or a corporation chartered in a state other than Texas] may apply for a Texas real estate broker license if the entity meets one of the following requirements. (1)(No change.) (2)The entity 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 [limited liability company or corporation]. (3)The entity was created or chartered in a state that does not license business entities [limited liability companies or corporations], as the case may be, and the entity is lawfully engaged in the practice of real estate brokerage in another state and meets all other requirements for applications for a license in Texas. (c)(No change.) (d)To be eligible to receive a license and maintain an active license, a business entity [limited liability company or corporation] created or chartered in another state must designate a person to act for it who meets the requirements of §1101.453 of the Act, although the designated broker [person] is not required to be a resident of Texas. Foreign business entities [corporations and limited liability companies] also must be permitted to engage in business in this state to receive a Texas real estate broker license.
This agency hereby certifies that
the emergency adoption
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 5, 2011
TRD-201102996 Loretta R. DeHay
General Counsel
Texas Real Estate Commission
Effective date: September 1, 2011
Expiration date: December 29, 2011
For further information, please call: (512) 936-3092
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