: Texas Register

Texas Register

TITLE 22	EXAMINING BOARDS
PART 23	TEXAS REAL ESTATE COMMISSION
CHAPTER 535	GENERAL PROVISIONS
SUBCHAPTER R	REAL ESTATE INSPECTORS
RULE §535.211	Financial Responsibility as Required by §1102.1141 of Texas Occupations Code, Chapter 1102
ISSUE	11/15/2013
ACTION	Final/Adopted

Preamble

Texas Admin Code Rule

(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 financial responsibility as required by §1102.1141 of Chapter 1102 (Financial Responsibility) before the license will be issued.

(b)An inspector must maintain financial responsibility during the period the license is active.

(c)The applicant must provide proof of financial responsibility using a form approved by the commission for that purpose and signed by the applicant's insurance agent or authorized surety representative, or any other proof of financial responsibility acceptable to the commission.

(d)An inspector must notify the commission within 10 days of the cancellation or non-renewal of financial responsibility.

(e)An inspector must retain sufficient records of financial responsibility to document to the commission continuous coverage for the preceding two year license period.

(f)The requirement that an inspector carry financial responsibility does not require coverage for violations wherein providing such insurance coverage would be as against public policy.

The agency certifies that legal counsel has reviewed the adoption and found it to be a valid exercise of the agency's legal authority.

Filed with the Office of the Secretary of State on November 1, 2013

TRD-201304995

Kerri Lewis

General Counsel

Texas Real Estate Commission

Effective date: November 21, 2013

Proposal publication date: August 30, 2013

For further information, please call: (512) 936-3092

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