The following terms and phrases, when used in this chapter,
have the following meanings unless the context clearly indicates otherwise.
(1) Act--Texas Occupations Code, Chapter 1101.
(2) Business entity--A corporation, limited liability,
partnership or other entity authorized under the Texas Business Organizations
Code to engage in the real estate brokerage business in Texas and
required to be licensed under the Act.
(3) Chapter 1102--Texas Occupations Code, Chapter
1102.
(4) Compensation--A commission, fee or other valuable
consideration for real estate brokerage services provided by a license
holder under the Act.
(5) Delivered--Sent by United States Mail to the last
known mailing address or by email to the last known email address
of a license holder or an applicant.
(6) Foreign broker--A real estate broker licensed
in another country, territory or state other than Texas.
(7) License--Any Commission license, registration,
certificate, approval, or similar form of permission required by law.
(8) License holder--A person licensed or registered
by the Commission under Chapter 1101 or 1102, Texas Occupations Code.
(9) Place of business--A place where the license holder
meets with clients and customers to transact business.
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 24, 2014
TRD-201405625 Kerri Lewis
General Counsel
Texas Real Estate Commission
Effective date: January 1, 2015
Proposal publication date: September 5, 2014
For further information, please call: (512) 936-3092
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