The Texas Real Estate Commission (TREC) adopts amendments to 22 TAC §535.144, When Acquiring or Disposing of Own Property of Spouse, Parent or Child; §535.146, Maintaining Trust Money; §535.148, Receiving an Undisclosed Commission or Rebate; and §535.161, Failing to Provide Information. The amendments to §§535.144, 535.146, and 535.148 are adopted with changes to the proposed text as published in the September 4, 2015, issue of the Texas Register (40 TexReg 5711). The amendment to §535.161 is adopted without changes.

The amendments to Chapter 535, Subchapter N provide greater clarity in the rules and align §535.161 with statutory changes to Chapter 1101, Texas Occupations Code, adopted by the 84th Legislature in Senate Bill 699.

Additionally, TREC Form RSC-1 Disclosure of Relationship with Residential Service Company is updated and adopted by reference.

The reasoned justification for the amendments is greater consumer protection and clarity.

The revision to the rules as adopted does not change the nature or scope so much that the rules as adopted could be deemed a different rule. The rules as adopted do not affect individuals other than those contemplated by the rules as proposed. The rules as adopted do not impose more onerous requirements than the proposed rules.

No comments were received on the amendments as published, however staff recommended a grammatical and terminology correction and "salesperson" was changed to "sales agent" throughout the chapter to be consistent with the new statutory terminology.

The amendments are adopted under Texas Occupations Code, §1101.151, which authorizes the Texas Real Estate Commission to adopt and enforce rules necessary to administer Chapters 1101 and 1102; and to establish standards of conduct and ethics for its license holders to fulfill the purposes of Chapters 1101 and 1102 and ensure compliance with Chapters 1101 and 1102.

The statute affected by this amendment is Texas Occupations Code, Chapter 1101. No other statute, code or article is affected by the amendments.