reglab/statecodes huggingface dataset:
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter J. License Renewal › Section 1101.453. Additional Renewal Requirements for Business Entities

Sec. 1101.453.  ADDITIONAL RENEWAL REQUIREMENTS FOR BUSINESS ENTITIES.  (a)  To renew a license under this chapter, a business entity must:
(1)  designate one of its managing officers as its broker for purposes of this chapter; and
(2)  provide proof that the entity maintains errors and omissions insurance with a minimum annual limit of $1 million for each occurrence if the designated broker owns less than 10 percent of the business entity.
(b)  A business entity may not act as a broker unless the entity's designated broker is a licensed individual broker in active status and good standing according to the commission's records.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
Amended by:
Acts 2011, 82nd Leg., R.S., Ch. 1064 (S.B. 747), Sec. 15, eff. September 1, 2011.
Acts 2015, 84th Leg., R.S., Ch. 1158 (S.B. 699), Sec. 50, eff. January 1, 2016.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter J. License Renewal › Section 1101.454. Sales Agent License Renewal

Sec. 1101.454.  SALES AGENT LICENSE RENEWAL.  (a)  An applicant applying for the first renewal of a sales agent license must provide to the commission satisfactory evidence of completion of at least 18 semester hours, or equivalent classroom hours, of qualifying real estate courses, including the hours required by Section 1101.455(e).
(b)  Repealed by Acts 2005, 79th Leg., Ch. 825, Sec. 15, eff. September 1, 2005.
(c)  Repealed by Acts 2005, 79th Leg., Ch. 825, Sec. 15, eff. September 1, 2005.
(d)  The commission may not waive the requirements for renewal under this section.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.  Amended by Acts 2003, 78th Leg., ch. 1276, Sec. 14A.152(d), eff. Sept. 1, 2003.
Amended by:
Acts 2005, 79th Leg., Ch. 825 (S.B. 810), Sec. 15, eff. September 1, 2005.
Acts 2011, 82nd Leg., R.S., Ch. 1064 (S.B. 747), Sec. 16, eff. September 1, 2011.
Acts 2015, 84th Leg., R.S., Ch. 1158 (S.B. 699), Sec. 51, eff. January 1, 2016.
Acts 2015, 84th Leg., R.S., Ch. 1158 (S.B. 699), Sec. 52, eff. January 1, 2016.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter J. License Renewal › Section 1101.456. Exemption From Continuing Education Requirements for Certain Brokers

Sec. 1101.456.  EXEMPTION FROM CONTINUING EDUCATION REQUIREMENTS FOR CERTAIN BROKERS.  Notwithstanding any other provision of this chapter, a broker who, before October 31, 1991, qualified under former Section 7A(f), The Real Estate License Act (Article 6573a, Vernon's Texas Civil Statutes), as added by Section 1.041, Chapter 553, Acts of the 72nd Legislature, Regular Session, 1991, for an exemption from continuing education requirements is not required to comply with the mandatory continuing education requirements of this subchapter to renew the broker's license.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter J. License Renewal › Section 1101.457. Deferral of Continuing Education Requirements

Sec. 1101.457.  DEFERRAL OF CONTINUING EDUCATION REQUIREMENTS.  (a)  The commission by rule may establish procedures under which an applicant may have the applicant's license issued, renewed, or returned to active status before the applicant completes continuing education requirements.
(b)  The commission may require an applicant under this section to:
(1)  pay a fee, not to exceed $200, in addition to any fee for late renewal of a license under this chapter; and
(2)  complete the required continuing education not later than the 60th day after the date the license is issued, renewed, or returned to active status.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 1411 (S.B. 914), Sec. 21, eff. September 1, 2007.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter J. License Renewal › Section 1101.458. Additional Education Requirements for Certain License Holders

Sec. 1101.458.  ADDITIONAL EDUCATION REQUIREMENTS FOR CERTAIN LICENSE HOLDERS.  (a)  A designated broker for a business entity licensed under this chapter, a broker who sponsors a sales agent, or a license holder who supervises another license holder must attend during the term of the current license at least six classroom hours of broker responsibility education courses approved by the commission.
(b)  The commission by rule shall prescribe the title, content, and duration of broker responsibility education courses required under this section.
(c)  Broker responsibility education course hours may be used to satisfy the hours described by Section 1101.455(f).
(d)  This section does not apply to a broker who is exempt from continuing education requirements under Section 1101.456.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1064 (S.B. 747), Sec. 18, eff. September 1, 2011.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 1158 (S.B. 699), Sec. 54, eff. January 1, 2016.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter J. License Renewal › Section 1101.459. Denial of License Renewal

Sec. 1101.459.  DENIAL OF LICENSE RENEWAL.  (a)  The commission may deny the renewal of a license under this chapter if the applicant is in violation of a commission order.
(b)  The denial of a license renewal is subject to the same provisions as are applicable under Section 1101.364 to the denial of a license.
Added by Acts 2019, 86th Leg., R.S., Ch. 334 (S.B. 624), Sec. 12, eff. September 1, 2019.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter K. Certificate Requirements › Section 1101.501. Certificate Required

Sec. 1101.501.  CERTIFICATE REQUIRED.  A person may not act as an easement or right-of-way agent unless the person:
(1)  holds a license issued under this chapter; or
(2)  holds a certificate of registration issued under this subchapter.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
Amended by:
Acts 2023, 88th Leg., R.S., Ch. 871 (H.B. 4123), Sec. 68, eff. June 13, 2023.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter K. Certificate Requirements › Section 1101.502. Eligibility Requirements for Certificate

Sec. 1101.502.  ELIGIBILITY REQUIREMENTS FOR CERTIFICATE.  (a)  To be eligible to receive a certificate of registration or a renewal certificate under this subchapter, a person must:
(1)  be, at the time of application:
(A)  at least 18 years of age; and
(B)  a citizen of the United States or a lawfully admitted alien; and
(2)  successfully complete the required courses of study prescribed by this subchapter, including qualifying or continuing education requirements.
(b)  To be eligible to receive a certificate of registration or a renewal certificate under this subchapter, a business entity must designate as its agent one of its managing officers who is registered under this subchapter.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
Amended by:
Acts 2011, 82nd Leg., R.S., Ch. 1064 (S.B. 747), Sec. 19, eff. September 1, 2011.
Acts 2021, 87th Leg., R.S., Ch. 826 (H.B. 2730), Sec. 2, eff. January 1, 2022.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter K. Certificate Requirements › Section 1101.503. Issuance of Certificate

Sec. 1101.503.  ISSUANCE OF CERTIFICATE.  (a)  The commission shall issue a certificate of registration to an applicant who meets the requirements for a certificate of registration.
(b)  The certificate remains in effect for the period prescribed by the commission if the certificate holder complies with this chapter and pays the appropriate renewal fees.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter K. Certificate Requirements › Section 1101.504. Certificate Expiration

Sec. 1101.504.  CERTIFICATE EXPIRATION.  The duration, expiration, and renewal of a certificate of registration are subject to the same provisions as are applicable under Section 1101.451 to the duration, expiration, and renewal of a license.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter K. Certificate Requirements › Section 1101.5041. Criminal History Record Information Requirement for Certificate

Sec. 1101.5041.  CRIMINAL HISTORY RECORD INFORMATION REQUIREMENT FOR CERTIFICATE.  An applicant for an original certificate of registration as an easement or right-of-way agent or renewal of a certificate of registration as an easement or right-of-way agent must comply with the criminal history record check requirements of Section 1101.3521.
Added by Acts 2011, 82nd Leg., R.S., Ch. 676 (S.B. 1812), Sec. 1, eff. September 1, 2011.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1064 (S.B. 747), Sec. 20, eff. September 1, 2011.
Amended by:
Acts 2023, 88th Leg., R.S., Ch. 871 (H.B. 4123), Sec. 69, eff. June 13, 2023.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter K. Certificate Requirements › Section 1101.505. Denial of Certificate Issuance or Renewal

Sec. 1101.505.  DENIAL OF CERTIFICATE ISSUANCE OR RENEWAL.  (a)  The denial of an original certificate of registration or renewal of a certificate of registration is subject to the same provisions as are applicable under Section 1101.364 to the denial of a license.
(b)  The commission may deny the renewal of a certificate of registration if the applicant is in violation of a commission order.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 334 (S.B. 624), Sec. 13, eff. September 1, 2019.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter K. Certificate Requirements › Section 1101.506. Change of Address

Sec. 1101.506.  CHANGE OF ADDRESS.  Not later than the 10th day after the date a certificate holder moves its place of business from a previously designated address, the holder shall:
(1)  notify the commission of the move;  and
(2)  obtain a new certificate of registration that reflects the address of the new place of business.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter K. Certificate Requirements › Section 1101.507. Display of Certificate

Sec. 1101.507.  DISPLAY OF CERTIFICATE.  A certificate holder shall prominently display at all times the holder's certificate of registration in the holder's place of business.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter K. Certificate Requirements › Section 1101.508. Probationary Certificate

Sec. 1101.508.  PROBATIONARY CERTIFICATE.  (a)  The commission may issue a probationary certificate of registration under this subchapter.
(b)  The commission by rule shall adopt reasonable requirements for the issuance of a probationary certificate.
Added by Acts 2021, 87th Leg., R.S., Ch. 826 (H.B. 2730), Sec. 3, eff. January 1, 2022.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter K. Certificate Requirements › Section 1101.509. Qualifying and Continuing Education Requirements

Sec. 1101.509.  QUALIFYING AND CONTINUING EDUCATION REQUIREMENTS.  (a)  The commission by rule shall approve coursework that an applicant must successfully complete to be eligible for the issuance or renewal of a certificate of registration under this subchapter.
(b)  An applicant for the issuance of an original certificate of registration shall submit evidence satisfactory to the commission that the applicant has completed at least 16 classroom hours of coursework approved by the commission in:
(1)  the law of eminent domain, including the rights of property owners;
(2)  appropriate standards of professionalism in contacting and conducting negotiations with property owners; and
(3)  ethical considerations in the performance of right-of-way acquisition services.
(c)  An applicant for the renewal of a certificate of registration shall submit evidence satisfactory to the commission that the applicant has, during the renewal period, completed at least 16 classroom hours of coursework approved by the commission that provides current information regarding:
(1)  the subjects specified in Subsection (b); and
(2)  other relevant subjects as prescribed by commission rule.
Added by Acts 2021, 87th Leg., R.S., Ch. 826 (H.B. 2730), Sec. 3, eff. January 1, 2022.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter L. Practice by License Holder › Section 1101.551. Definitions

Sec. 1101.551.  DEFINITIONS.  In this subchapter:
(1)  "Intermediary" means a broker who is employed to negotiate a transaction between the parties to a transaction and for that purpose may act as an agent of the parties.
(2)  "Party" means a prospective buyer, seller, landlord, or tenant or an authorized representative of a buyer, seller, landlord, or tenant, including a trustee, guardian, executor, administrator, receiver, or attorney-in-fact.  The term does not include a license holder who represents a party.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter L. Practice by License Holder › Section 1101.552. Fixed Office Required; Change of Address

Sec. 1101.552.  FIXED OFFICE REQUIRED; CHANGE OF ADDRESS.  (a)  A resident broker shall maintain a fixed office in this state.  The address of the office shall be designated on the broker's license.
(b)  Not later than the 10th day after the date a broker moves from the address designated on the broker's license, the broker shall submit an application, accompanied by the appropriate fee, for a license that designates the new location of the broker's office.  The commission shall issue a license that designates the new location if the new location complies with the requirements of this section.
(c)  Repealed by Acts 2019, 86th Leg., R.S., Ch. 334 (S.B. 624), Sec. 45, eff. September 1, 2019.
(d)  A nonresident licensed broker is not required to maintain a place of business in this state.
(e)  A license holder shall provide the commission with the license holder's current mailing address and telephone number, and the license holder's business e-mail address if available.  A license holder shall notify the commission of a change in the license holder's mailing or e-mail address or telephone number.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 1158 (S.B. 699), Sec. 55, eff. January 1, 2016.
Acts 2019, 86th Leg., R.S., Ch. 334 (S.B. 624), Sec. 14, eff. September 1, 2019.
Acts 2019, 86th Leg., R.S., Ch. 334 (S.B. 624), Sec. 45, eff. September 1, 2019.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter L. Practice by License Holder › Section 1101.553. Display of License

Sec. 1101.553.  DISPLAY OF LICENSE.   A residential rental locator shall prominently display in a place accessible to clients and prospective clients:
(1)  the locator's license;
(2)  a statement that the locator is licensed by the commission; and
(3)  the notice required by Section 1101.202(a).
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.  Amended by Acts 2003, 78th Leg., ch. 15, Sec. 14, eff. Sept. 1, 2003.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 1158 (S.B. 699), Sec. 56, eff. January 1, 2016.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter L. Practice by License Holder › Section 1101.554. Copy of Sales Agent License

Sec. 1101.554.  COPY OF SALES AGENT LICENSE.  The commission shall deliver a copy of each sales agent license to the broker that is sponsoring the sales agent.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
Amended by:
Acts 2011, 82nd Leg., R.S., Ch. 1064 (S.B. 747), Sec. 22, eff. September 1, 2011.
Acts 2015, 84th Leg., R.S., Ch. 1158 (S.B. 699), Sec. 57, eff. January 1, 2016.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter L. Practice by License Holder › Section 1101.555. Notice to Buyer Regarding Abstract or Title Policy

Sec. 1101.555.  NOTICE TO BUYER REGARDING ABSTRACT OR TITLE POLICY.  When an offer to purchase real estate in this state is signed, a license holder shall advise each buyer, in writing, that the buyer should:
(1)  have the abstract covering the real estate that is the subject of the contract examined by an attorney chosen by the buyer;  or
(2)  be provided with or obtain a title insurance policy.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter L. Practice by License Holder › Section 1101.556. Disclosure of Certain Information Relating to Occupants

Sec. 1101.556.  DISCLOSURE OF CERTAIN INFORMATION RELATING TO OCCUPANTS.  Notwithstanding other law, a license holder is not required to inquire about, disclose, or release information relating to whether:
(1)  a previous or current occupant of real property had, may have had, has, or may have AIDS, an HIV-related illness, or an HIV infection as defined by the Centers for Disease Control and Prevention of the United States Public Health Service;  or
(2)  a death occurred on a property by natural causes, suicide, or accident unrelated to the condition of the property.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter L. Practice by License Holder › Section 1101.557. Acting as Agent; Regulation of Certain Transactions

Sec. 1101.557.  ACTING AS AGENT; REGULATION OF CERTAIN TRANSACTIONS.  (a)  A broker who represents a party in a real estate transaction or who lists real estate for sale under an exclusive agreement for a party is that party's agent.
(b)  A broker described by Subsection (a):
(1)  may not instruct another broker to directly or indirectly violate Section 1101.652(b)(22);
(2)  must inform the party if the broker receives material information related to a transaction to list, buy, sell, or lease the party's real estate, including the receipt of an offer by the broker; and
(3)  shall, at a minimum, answer the party's questions and present any offer to or from the party.
(c)  For the purposes of this section:
(1)  a license holder who has the authority to bind a party to a lease or sale under a power of attorney or a property management agreement is also a party to the lease or sale;
(2)  an inquiry to a person described by Section 1101.005(6) about contract terms or forms required by the person's employer does not violate Section 1101.652(b)(22) if the person does not have the authority to bind the employer to the contract; and
(3)  the sole delivery of an offer to a party does not violate Section 1101.652(b)(22) if:
(A)  the party's broker consents to the delivery;
(B)  a copy of the offer is sent to the party's broker, unless a governmental agency using a sealed bid process does not allow a copy to be sent; and
(C)  the person delivering the offer does not engage in another activity that directly or indirectly violates Section 1101.652(b)(22).
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
Amended by:
Acts 2005, 79th Leg., Ch. 825 (S.B. 810), Sec. 7, eff. September 1, 2005.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter L. Practice by License Holder › Section 1101.558. Representation Disclosure

Sec. 1101.558.  REPRESENTATION DISCLOSURE.
(a)  Repealed by Acts 2015, 84th Leg., R.S., Ch. 1158 , Sec. 92, eff. January 1, 2016.
(b)  A license holder who represents a party in a proposed real estate transaction shall disclose, orally or in writing, that representation at the time of the license holder's first contact with:
(1)  another party to the transaction;  or
(2)  another license holder who represents another party to the transaction.
(b-1)  At the time of a license holder's first substantive communication with a party relating to a proposed transaction regarding specific real property, the license holder shall provide to the party written notice in at least a 10-point font that:
(1)  describes the ways in which a broker can represent a party to a real estate transaction, including as an intermediary;
(2)  describes the basic duties and obligations a broker has to a party to a real estate transaction that the broker represents; and
(3)  provides the name, license number, and contact information for the license holder and the license holder's supervisor and broker, if applicable.
(b-2)  The commission by rule shall prescribe the text of the notice required under Subsections (b-1)(1) and (2) and establish the methods by which a license holder shall provide the notice.
(c)  A license holder is not required to provide the notice required by Subsection (b-1) if:
(1)  the proposed transaction is for a residential lease for less than one year and a sale is not being considered;
(2)  the license holder meets with a party who the license holder knows is represented by another license holder; or
(3)  the communication occurs at a property that is held open for any prospective buyer or tenant and the communication concerns that property.
(d)  Repealed by Acts 2015, 84th Leg., R.S., Ch. 1158 , Sec. 92, eff. January 1, 2016.
(e)  Repealed by Acts 2015, 84th Leg., R.S., Ch. 1158 , Sec. 92, eff. January 1, 2016.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.  Amended by Acts 2003, 78th Leg., ch. 15, Sec. 7, eff. Sept. 1, 2003.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 1158 (S.B. 699), Sec. 58, eff. January 1, 2016.
Acts 2015, 84th Leg., R.S., Ch. 1158 (S.B. 699), Sec. 92, eff. January 1, 2016.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter L. Practice by License Holder › Section 1101.559. Broker Acting as Intermediary

Sec. 1101.559.  BROKER ACTING AS INTERMEDIARY.  (a)  A broker may act as an intermediary between parties to a real estate transaction if:
(1)  the broker obtains written consent from each party for the broker to act as an intermediary in the transaction;  and
(2)  the written consent of the parties states the source of any expected compensation to the broker.
(b)  A written listing agreement to represent a seller or landlord or a written agreement to represent a buyer or tenant that authorizes a broker to act as an intermediary in a real estate transaction is sufficient to establish written consent of the party to the transaction if the written agreement specifies in conspicuous bold or underlined print the conduct that is prohibited under Section 1101.651(d).
(c)  An intermediary shall act fairly and impartially.  Appointment by a broker acting as an intermediary of an associated license holder under Section 1101.560 to communicate with, carry out the instructions of, and provide opinions and advice to the parties to whom that associated license holder is appointed is a fair and impartial act.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter L. Practice by License Holder › Section 1101.560. Associated License Holder Acting as Intermediary

Sec. 1101.560.  ASSOCIATED LICENSE HOLDER ACTING AS INTERMEDIARY.  (a)  A broker who complies with the written consent requirements of Section 1101.559 may appoint:
(1)  a license holder associated with the broker to communicate with and carry out instructions of one party to a real estate transaction;  and
(2)  another license holder associated with the broker to communicate with and carry out instructions of any other party to the transaction.
(b)  A license holder may be appointed under this section only if:
(1)  the written consent of the parties under Section 1101.559 authorizes the broker to make the appointment;  and
(2)  the broker provides written notice of the appointment to all parties involved in the real estate transaction.
(c)  A license holder appointed under this section may provide opinions and advice during negotiations to the party to whom the license holder is appointed.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter L. Practice by License Holder › Section 1101.561. Duties of Intermediary Prevail

Sec. 1101.561.  DUTIES OF INTERMEDIARY PREVAIL.  (a)  The duties of a license holder acting as an intermediary under this subchapter supersede the duties of a license holder established under any other law, including common law.
(b)  A broker must agree to act as an intermediary under this subchapter if the broker agrees to represent in a transaction:
(1)  a buyer or tenant; and
(2)  a seller or landlord.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
Amended by:
Acts 2005, 79th Leg., Ch. 825 (S.B. 810), Sec. 8, eff. September 1, 2005.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter M. Real Estate Recovery Trust Account › Section 1101.601. Real Estate Recovery Trust Account

Sec. 1101.601.  REAL ESTATE RECOVERY TRUST ACCOUNT.  (a)  The commission shall maintain a real estate recovery trust account to reimburse aggrieved persons who suffer actual damages caused by an act described by Section 1101.602 committed by:
(1)  a license holder;
(2)  a certificate holder;  or
(3)  a person who does not hold a license or certificate and who is an employee or agent of a license or certificate holder.
(b)  The license or certificate holder must have held the license or certificate at the time the act was committed.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter M. Real Estate Recovery Trust Account › Section 1101.6011. Applicability to Business Entity

Sec. 1101.6011.  APPLICABILITY TO BUSINESS ENTITY.  For purposes of this subchapter, a claim against a business entity license holder is also a claim against the broker who is the business entity's designated broker.
Added by Acts 2015, 84th Leg., R.S., Ch. 1158 (S.B. 699), Sec. 59, eff. January 1, 2016.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter M. Real Estate Recovery Trust Account › Section 1101.602. Entitlement to Reimbursement

Sec. 1101.602.  ENTITLEMENT TO REIMBURSEMENT.  An aggrieved person is entitled to reimbursement from the trust account if a person described by Section 1101.601 engages in conduct that requires a license or certificate of registration under this chapter and is described by Section 1101.652(a-1)(1) or (b), if the person is a license holder, or Section 1101.653(1), (2), (3), or (4), if the person is a certificate holder.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 1158 (S.B. 699), Sec. 60, eff. January 1, 2016.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter M. Real Estate Recovery Trust Account › Section 1101.603. Payments Into Trust Account

Sec. 1101.603.  PAYMENTS INTO TRUST ACCOUNT.  (a)  Repealed by Acts 2023, 88th Leg., R.S., Ch. 94 (S.B. 1577), Sec. 28(5), eff. January 1, 2024.
(b)  Repealed by Acts 2015, 84th Leg., R.S., Ch. 1158 , Sec. 92, eff. January 1, 2016.
(c)  Notwithstanding any other law, the commission shall deposit to the credit of the trust account an administrative penalty collected under Subchapter O.
(d)  Repealed by Acts 2023, 88th Leg., R.S., Ch. 686 (H.B. 1363), Sec. 5(1), eff. September 1, 2023.
(e)  Repealed by Acts 2023, 88th Leg., R.S., Ch. 94 (S.B. 1577), Sec. 28(5), eff. January 1, 2024.
(f)  To ensure the availability of a sufficient amount to pay anticipated claims on the trust account, the commission by rule may provide for the collection of fees or assessments from an applicant for an original license or certificate of registration or from a license or certificate holder at the next renewal to credit to the trust account.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.  Amended by Acts 2003, 78th Leg., ch. 1276, Sec. 14A.160(a), eff. Sept. 1, 2003.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 1158 (S.B. 699), Sec. 61, eff. January 1, 2016.
Acts 2015, 84th Leg., R.S., Ch. 1158 (S.B. 699), Sec. 92, eff. January 1, 2016.
Acts 2023, 88th Leg., R.S., Ch. 94 (S.B. 1577), Sec. 13, eff. January 1, 2024.
Acts 2023, 88th Leg., R.S., Ch. 94 (S.B. 1577), Sec. 28(5), eff. January 1, 2024.
Acts 2023, 88th Leg., R.S., Ch. 686 (H.B. 1363), Sec. 1, eff. September 1, 2023.
Acts 2023, 88th Leg., R.S., Ch. 686 (H.B. 1363), Sec. 5(1), eff. September 1, 2023.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter M. Real Estate Recovery Trust Account › Section 1101.604. Management of Trust Account

Sec. 1101.604.  MANAGEMENT OF TRUST ACCOUNT.  (a)  The commission shall hold money credited to the trust account in trust to carry out the purpose of the trust account.
(b)  Money credited to the trust account may be invested in the same manner as money of the Employees Retirement System of Texas, except that an investment may not be made that would impair the liquidity necessary to make payments from the trust account as required by this subchapter.
(c)  Interest from the investments shall be deposited to the credit of the trust account.
(d)  Repealed by Acts 2023, 88th Leg., R.S., Ch. 94 (S.B. 1577), Sec. 28(6), eff. January 1, 2024.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
Amended by:
Acts 2023, 88th Leg., R.S., Ch. 94 (S.B. 1577), Sec. 28(6), eff. January 1, 2024.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter M. Real Estate Recovery Trust Account › Section 1101.605. Deadline for Action; Notice to Commission

Sec. 1101.605.  DEADLINE FOR ACTION;  NOTICE TO COMMISSION.  (a)  An action for a judgment that may result in an order for payment from the trust account may not be brought after the second anniversary of the date the cause of action accrues.
(b)  When an aggrieved person brings an action for a judgment that may result in an agreed judgment and order for payment from the trust account, the aggrieved person and the license or certificate holder against whom the action is brought shall notify the commission in writing before entry of the agreed judgment and deliver a copy of all petitions and pleadings and the proposed agreed judgment to the commission.  The commission will notify the parties not later than the 30th day after the date of receiving the documents if the commission intends to relitigate material and relevant issues as to the applicability of the trust account to the agreed judgment as provided by Section 1101.608.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 1158 (S.B. 699), Sec. 62, eff. January 1, 2016.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter M. Real Estate Recovery Trust Account › Section 1101.606. Claim for Payment From Trust Account

Sec. 1101.606.  CLAIM FOR PAYMENT FROM TRUST ACCOUNT.  (a)  Except as provided by Subsections (c) and (c-1), an aggrieved person who obtains a court judgment against a license or certificate holder for an act described by Section 1101.602 may, after final judgment is entered, execution returned nulla bona, and a judgment lien perfected, file a verified claim in the court that entered the judgment.
(b)  After the 20th day after the date the aggrieved person gives written notice of the claim to the commission and judgment debtor, the person may apply to the court that entered the judgment for an order for payment from the trust account of the amount unpaid on the judgment.  The aggrieved person and the commission may attempt to reach a settlement of the claim before setting a hearing before the court.  If the aggrieved person does not schedule a hearing before the first anniversary of the date the application was filed, recovery is waived.
(c)  If an aggrieved person is precluded by action of a bankruptcy court from executing a judgment or perfecting a judgment lien as required by Subsection (a), the person shall verify to the commission that the person has made a good faith effort to protect the judgment from being discharged in bankruptcy.
(c-1)  If the judgment obtained against the license holder includes multiple defendants who are jointly and severally liable or the judgment against the license holder was severed from a suit with multiple defendants, the aggrieved person may not file a verified claim in the court that entered the judgment until the aggrieved person has obtained a judgment against all defendants and received payment from or obtained a writ of execution returned nulla bona for all defendants.
(d)  The commission by rule may prescribe the actions necessary for an aggrieved person to demonstrate that the person has made a good faith effort under Subsection (c) to protect a judgment from being discharged in bankruptcy.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 23 (S.B. 862), Sec. 5, eff. May 12, 2009.
Acts 2015, 84th Leg., R.S., Ch. 1158 (S.B. 699), Sec. 63, eff. January 1, 2016.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter M. Real Estate Recovery Trust Account › Section 1101.607. Issues at Hearing

Sec. 1101.607.  ISSUES AT HEARING.  At the hearing on the application for payment from the trust account, the aggrieved person must show:
(1)  that the judgment is based on facts allowing recovery under this subchapter;
(2)  that the person is not:
(A)  the spouse of the judgment debtor or the personal representative of the spouse;
(B)  a license or certificate holder who is seeking to recover compensation, including a commission, in the real estate transaction that is the subject of the application for payment; or
(C)  related to the judgment debtor within the first degree by consanguinity;
(3)  that, according to the best information available, the judgment debtor does not have sufficient attachable assets in this or another state to satisfy the judgment;
(4)  the amount that may be realized from the sale of assets liable to be sold or applied to satisfy the judgment; and
(5)  the balance remaining due on the judgment after application of the amount under Subdivision (4).
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.  Amended by Acts 2003, 78th Leg., ch. 1276, Sec. 14A.160(b), eff. Sept. 1, 2003.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 1158 (S.B. 699), Sec. 64, eff. January 1, 2016.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter M. Real Estate Recovery Trust Account › Section 1101.608. Commission Response

Sec. 1101.608.  COMMISSION RESPONSE.  (a)  On receipt of notice under Section 1101.606, the commission may agree to pay all or part of the claim without a hearing.  If the commission and the aggrieved person do not reach a settlement or the commission does not agree that the claim meets one or more of the requirements of this subchapter, the commission may notify the attorney general of the commission's desire to schedule a hearing, enter an appearance, file a response, appear at the hearing, defend the action, or take any other action the commission considers appropriate.
(b)  The commission and the attorney general may act under Subsection (a) only to:
(1)  protect the trust account from spurious or unjust claims;  or
(2)  ensure compliance with the requirements for recovery under this subchapter.
(c)  The commission may relitigate in the hearing any material and relevant issue that was determined in the action that resulted in the judgment, including an agreed judgment, in favor of the aggrieved person.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 1158 (S.B. 699), Sec. 65, eff. January 1, 2016.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter M. Real Estate Recovery Trust Account › Section 1101.609. Court Order for Payment

Sec. 1101.609.  COURT ORDER FOR PAYMENT.  The court shall order the commission to pay from the trust account the amount the court finds payable on the claim under this subchapter if at a hearing the court is satisfied:
(1)  of the truth of each matter the aggrieved person is required by Section 1101.607 to show;  and
(2)  that the aggrieved person has satisfied each requirement of Sections 1101.606 and 1101.607.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter M. Real Estate Recovery Trust Account › Section 1101.610. Payment Limits; Attorney's Fees

Sec. 1101.610.  PAYMENT LIMITS;  ATTORNEY'S FEES.  (a)  Payments from the trust account for claims, including attorney's fees, interest, and court costs, arising out of a single transaction may not exceed a total of $125,000, regardless of the number of claimants.
(b)  Payments from the trust account for claims based on judgments against a single license or certificate holder may not exceed a total of $250,000 until the license or certificate holder has reimbursed the trust account for all amounts paid.
(c)  If the court finds that the total amount of claims against a license or certificate holder exceeds the limitations in this section, the court shall proportionately reduce the amount payable on each claim.
(d)  A person receiving payment from the trust account is entitled to receive reasonable attorney's fees in the amount determined by the court, subject to the limitations prescribed by this section.
(e)  For purposes of this section, a business entity and the broker who is the business entity's designated broker are considered a single license holder.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 1158 (S.B. 699), Sec. 66, eff. January 1, 2016.
Acts 2023, 88th Leg., R.S., Ch. 94 (S.B. 1577), Sec. 14, eff. January 1, 2024.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter M. Real Estate Recovery Trust Account › Section 1101.611. Application of Judgment Recovery

Sec. 1101.611.  APPLICATION OF JUDGMENT RECOVERY.  An aggrieved person who receives a recovery on a judgment against a single defendant before receiving a payment from the trust account must apply the recovery first to actual damages.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter M. Real Estate Recovery Trust Account › Section 1101.612. Subrogation

Sec. 1101.612.  SUBROGATION.  (a)  The commission is subrogated to all rights of a judgment creditor to the extent of an amount paid from the trust account, and the judgment creditor shall assign to the commission all right, title, and interest in the judgment up to that amount.
(b)  The commission has priority for repayment from any subsequent recovery on the judgment.
(c)  The commission shall deposit any amount recovered on the judgment to the credit of the trust account.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter M. Real Estate Recovery Trust Account › Section 1101.613. Effect on Disciplinary Proceedings

Sec. 1101.613.  EFFECT ON DISCIPLINARY PROCEEDINGS.  (a)  This subchapter does not limit the commission's authority to take disciplinary action against a license or certificate holder for a violation of this chapter or a commission rule.
(b)  A license or certificate holder's repayment of all amounts owed to the trust account does not affect another disciplinary proceeding brought under this chapter.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter M. Real Estate Recovery Trust Account › Section 1101.614. Waiver of Rights

Sec. 1101.614.  WAIVER OF RIGHTS.  An aggrieved person who does not comply with this subchapter waives the person's rights under this subchapter.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
2023 Texas Statutes › Occupations Code › Title 7 - Practices and Professions Related to Real Property and Housing › Subtitle A - Professions Related to Real Estate › Chapter 1101 - Real Estate Brokers and Sales Agents › Subchapter M. Real Estate Recovery Trust Account › Section 1101.615. Notice to Consumers and Service Recipients

Sec. 1101.615.  NOTICE TO CONSUMERS AND SERVICE RECIPIENTS.
(a)  The commission by rule shall prescribe a notice regarding the availability of payment from the trust account for aggrieved persons and establish methods by which each license and certificate holder shall provide the notice to consumers and service recipients.
(b)  Repealed by Acts 2015, 84th Leg., R.S., Ch. 1158 , Sec. 92, eff. January 1, 2016.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.  Amended by Acts 2003, 78th Leg., ch. 15, Sec. 8, eff. Sept. 1, 2003.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 1158 (S.B. 699), Sec. 67, eff. January 1, 2016.
Acts 2015, 84th Leg., R.S., Ch. 1158 (S.B. 699), Sec. 92, eff. January 1, 2016.