1. (a) An initial license is the first license issued to an individual who has been certified or registered under the Act. The board will prorate the initial license fee for an individual who is licensed for less than a full year.
2. (b) The board will not prorate the initial license fee for a firm's office whose license is for less than one year. The firm's initial and subsequent office license shall not be issued until such time as the sole proprietor, all partners, officers, directors, members, or shareholders of the firm who reside in Texas and who are certified or registered under the Act have obtained a license.

Source Note:The provisions of this §515.2 adopted to be effective September 24, 1979, 4 TexReg 4508; amended to be effective April 1, 1986, 11 TexReg 1391; amended to be effective October 30, 1991, 16 TexReg 5830; amended to be effective June 9, 1994, 19 TexReg 4199; amended to be effective February 27, 2000, 25 TexReg 1390; amended to be effective February 4, 2004, 29 TexReg 971.