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(a)When an applicant for a license issued under Texas Occupations Code, Chapter 1102 (Chapter 1102), has met all other licensing requirements, the commission shall notify the applicant that the applicant must provide proof of professional liability insurance, or any other insurance that provides coverage for violations of Subchapter G of Texas Occupations Code, Chapter 1102, before the license will be issued. (b)An inspector must maintain professional liability insurance coverage, or any other insurance that provides coverage for violations of Subchapter G of Chapter 1102, during the period the license is active. (c)The applicant must provide proof of insurance using a Certificate of Insurance form approved by the commission and signed by the applicant's insurance agent, or any other proof of insurance acceptable to the commission. (d)An inspector must notify the commission within 10 days of the cancellation or non-renewal of professional liability insurance coverage, or any other insurance that provides coverage for violations of Subchapter G of Chapter 1102. (e)An inspector must retain sufficient records of professional liability insurance coverage, or any other insurance that provides coverage for violations of Subchapter G of Chapter 1102, to document to the commission continuous coverage for the preceding two year license period. (f)The requirement that an inspector carry professional liability insurance or any other insurance that provides coverage for violations of Subchapter G of Chapter 1102 does not require coverage for violations wherein providing such insurance coverage would be as against public policy.
This agency hereby certifies that the adoption has
been reviewed by legal counsel and found to be a valid exercise of
the agency's legal
authority.
Filed with the Office
of the Secretary of State on May 14, 2012
TRD-201202411 Loretta R. DeHay
General Counsel
Texas Real Estate Commission
Effective date: June 3, 2012
Proposal publication date: March 16, 2012
For further information, please call: (512) 936-3092
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