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(a)The license of a sales agent immediately becomes
inactive upon:
(1)the death of the sales agent's sponsoring broker;
(2)the expiration, suspension, revocation or inactivation
of the license of the sponsoring broker;
(3)if the sponsoring broker is a business entity,
the dissolution of the entity or the forfeiture of its charter;
(4)if the sponsoring broker is a business entity,
the expiration, suspension, revocation, or inactivation of the license
of the designated broker of the entity, or the death of the designated
broker;
(5)termination of sponsorship by the sales agent or
sponsoring broker;
(6)failure to timely complete continuing education
required under the Act and this chapter; or
(7)receipt by the Commission of an application for
inactive status.
(b)If the broker intends to terminate the sponsorship,
the broker must immediately:
(1)notify the sales agent in writing; and
(2)terminate the sponsorship:
(A)through the online process approved by the Commission;
or
(B)on the appropriate form delivered to the Commission.
(c)If the sales agent intends to terminate the sponsorship,
the sales agent must immediately:
(1)notify the broker in writing; and
(2)terminate the sponsorship:
(A)through the online process approved by the Commission;
or
(B)on the appropriate form delivered to the Commission.
(d)If a sponsorship is terminated on a form under
this section, the effective date of the termination of the sponsorship
is the date the Commission receives the completed form and any applicable
fee.
(e)It is the responsibility of the sales agent on
inactive status to pay all required license renewal fees timely to
prevent the inactive license from expiring.
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 May 22, 2023
TRD-202301882 Vanessa E. Burgess
General
Counsel
Texas Real Estate Commission
Effective date: June 11, 2023
Proposal publication date: March 3, 2023
For further information, please call: (512) 936-3284
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