(a) - (b)(No change.) (c)A broker or salesperson may not share a commission or fees with an unlicensed business entity [corporation or limited liability company] created by a license holder [ licensee] for the purpose of collecting a commission or fees on behalf of the license holder [licensee]. (d)A license holder may [It is not a violation of this section for a licensee to] rebate or pay a portion of the license holder's fee or [licensee's] commission [or fees] to a party in the transaction when the salesperson has the written consent of the salesperson's sponsoring broker and the party represented by the license holder. A [ However, no] commission or fee [fees] may not be paid to any party to the transaction in a manner that misleads [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 license holder [licensee] who intends to pay a portion of the license holder's [licensee's] fee or commission to a party the license holder [licensee] does not represent must obtain the written consent of the party represented by the license holder before [licensee prior to] making the payment.
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-201404045 Kerri Lewis
General Counsel
Texas Real Estate Commission
Earliest possible date of adoption: October 5, 2014
For further information, please call: (512) 936-3092
|
