The Texas Real Estate Commission (TREC) adopts amendments to 22 TAC §535.220, Professional Conduct and Ethics, in Chapter 535, General Provisions, without changes to text as published in the May 24, 2019, issue of the Texas Register (44 TexReg 2584). The amendments will not be republished.

These amendments are recommended by the Texas Real Estate Inspector Committee.

The amendments add additional settlement providers to the list of those prohibited from paying or receiving valuable consideration to an inspector in connection with a real estate transaction. The additions update the rule to parallel the revision made to 22 TAC §535.148 dealing with preserving settlement provider independence in real estate transactions.

Chelsea Buchholtz, General Counsel, has determined that for the first five-year period the proposed amendments are in effect there will be no fiscal implications for the state or for units of local government as a result of enforcing or administering the sections. There is no adverse economic effect anticipated for small businesses, micro-businesses, rural communities, or local or state employment as a result of implementing the proposed amendments. There is no significant economic cost anticipated for persons who are required to comply with the proposed amendments. Accordingly, no Economic Impact Statement or Regulatory Flexibility Analysis is required.

No comments were received on the amendments as published.

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.