(a)Changes in Ownership or Operation. A school shall obtain the approval of the commission in advance of any material change in the operation of the school, including but not limited to, ownership, location of main office and any other locations where courses are offered, management, and course formats. A request for approval of a change of ownership will be considered as if each proposed new owner had applied for accreditation of the school, and each new owner must meet the standards imposed by §535.64 of this title (relating to Accreditation of Schools and Approval of Instructors). A school requesting approval of a change in ownership shall provide all of the following information or documents to the commission: (1)-(4)(No change.) (5)a new bond in the amount of $10,000 for the proposed new owner(s), a statement from the bonding company indicating that the former bond will transfer to the proposed new owner(s), or other security acceptable to the commission under the Texas Occupations Code, Chapter 1101, ( the Act), §1101.302[7(f)]. (6)-(7)(No change.) (b)-(g) (No change.) (h)Presentation of courses. (1)A school shall present core real estate courses prescribed by the Act, §1101.003[7(a)] and real estate related courses accepted by the commission in no less than 30 classroom hours of instruction. The school shall advertise and schedule a course for the full clock hours of time for which credit is awarded. (2)(No change.) (i)Course credit and records. (1)Within ten days following the completion of other than an alternative delivery method [a] course, a school shall provide the commission with a class roster in a format approved by the commission. For an alternative delivery method course, a school shall provide a roster of those students completing the course within 10 days after the end of the month in which the student completed the course. The listing of students must be numbered and in alphabetical order, with each student's last name shown first, and must show after each student's name the final grade of either passed, failed, incomplete, or dropped, in language or symbols that can be correlated with these categories. The school shall explain any other grade concisely but clearly. The school shall list all instructors used in the course on the roster. (A)-(D)(No change.) (2)-(5)(No change.) (j)(No change.)
This agency hereby certifies that the proposal has been reviewed
by legal counsel and found to be within the agency's legal authority to adopt.
Filed with the Office of
the Secretary of State on August 14, 2003
TRD-200305205 Loretta DeHay
General Counsel
Texas Real Estate Commission
Earliest possible date of adoption: September 28, 2003
For further information, please call: (512) 465-3900
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