Texas Register
TITLE 22 EXAMINING BOARDS
PART 23TEXAS REAL ESTATE COMMISSION
CHAPTER 531CANONS OF PROFESSIONAL ETHICS AND CONDUCT
RULE §531.2Fidelity
ISSUE 03/11/2022
ACTION Proposed
Preamble Texas Admin Code Rule
A license holder, while acting as an agent for another, is a fiduciary. Special obligations are imposed when such fiduciary relationships are created. They demand:

  (1)that the primary duty of the license holder is to represent the interests of the client, and the license holder's position, in this respect, should be clear to all parties concerned in a real estate transaction; that, however, the license holder, in performing duties to the client, shall treat other parties to a transaction fairly;

   (2)that the license holder be faithful and observant to trust placed in the license holder, and be scrupulous and meticulous in performing the license holder's functions; and

   (3)that the license holder place no personal interest above that of the client.

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 February 22, 2022

TRD-202200636

Abby Lee

Deputy General Counsel

Texas Real Estate Commission

Earliest possible date of adoption: April 10, 2022

For further information, please call: (512) 936-3057

 

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