(a)A person residing outside of Texas [in another state] may apply for a license under this section if the person: (1)is licensed as a foreign broker [by the other state]; or (2)was licensed as a Texas real estate salesperson or broker no more than two years before [prior to the] filing of the application. (3)The commission may waive education and experience requirements if the applicant satisfies the conditions established by §535.56 [(h) of this title (relating to Education and Experience Requirements for a Broker License)] or §535.55 of this title [(relating to Education Requirements for a Salesperson License)]. (b)A business entity created or chartered under the laws of a [another] state other than Texas may apply for a Texas real estate broker license if the entity: [ meets one of the following requirements.] (1)[The entity] is licensed as a broker by the state in which it was created or chartered;[.] (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; or[.] (3)[The entity] was created or chartered in a state that does not license business entities[, as the case may be,] and the entity is lawfully engaged in the practice of real estate brokerage in that [another] state and meets all other requirements for applications for a license in Texas. (c)An individual licensed as a broker who subsequently moves to a [another] state other than Texas is not required to maintain an office in Texas unless the individual sponsors a salesperson in Texas [this state]. (d)To be eligible to receive a license and maintain an active license, a business entity created or chartered in a [another ] state other than Texas must designate a person to act for it who meets the requirements of §1101.355 [§1101.453 ] of the Act, although the designated broker is not required to be a resident of Texas. Foreign business entities must also be permitted to engage in business in Texas [this state] to receive a Texas real estate broker license.
The agency certifies that legal counsel has reviewed
the proposal and found it to be within the state agency's legal authority
to adopt.
Filed
with the Office of the Secretary of State on August 25, 2014
TRD-201404044 Kerri Lewis
General Counsel
Texas Real Estate Commission
Earliest possible date of adoption: October 5, 2014
For further information, please call: (512) 936-3092
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