22 Tex. Admin. Code § 535.1
Definitions
Effective Jan 1, 201640 TexReg 8220 Source Note: The provisions of this §535.1 adopted to be effective January 1, 2011, 35 TexReg 11673; amended to be effective March 6, 2013, 38 TexReg 1363; amended to be effective January 1, 2015, 39 TexReg 9669; amended to be effective January 1, 2016, 40 TexReg 8220. Texas Secretary of State
The following terms and phrases, when used in this chapter, have the following meanings unless the context clearly indicates otherwise.
- (1) Act--Texas Occupations Code, Chapter 1101.
- (2) Business entity--A domestic or foreign corporation, limited liability, partnership or other entity authorized under the Texas Business Organizations Code to engage in the real estate brokerage business in Texas and required to be licensed under the Act.
- (3) Chapter 1102--Texas Occupations Code, Chapter 1102.
- (4) Commission--The Texas Real Estate Commission.
- (5) Compensation--A commission, fee or other valuable consideration for real estate brokerage services provided by a license holder under the Act.
- (6) Delivered--Sent by United States Mail to the last known mailing address or by email to the last known email address of a license holder or an applicant.
- (7) Executive Director-The Executive Director of the Texas Real Estate Commission.
- (8) Foreign broker--A real estate broker licensed in another country, territory or state other than Texas.
- (9) License--Any Commission license, registration, certificate, approval, or similar form of permission required by law.
- (10) License holder--A person licensed or registered by the Commission under Chapter 1101 or 1102, Texas Occupations Code.
- (11) Place of business--A place where the license holder meets with clients and customers to transact business.
(12) Trade Association--a nonprofit voluntary member association or organization:
- (A) whose membership consists primarily of persons who are licensed as real estate license holders and pay membership dues to the association or organization;
- (B) that is governed by a board of directors elected by the members; and
- (C) that subscribes to a written code of professional conduct or ethics.
Source Note:The provisions of this §535.1 adopted to be effective January 1, 2011, 35 TexReg 11673; amended to be effective March 6, 2013, 38 TexReg 1363; amended to be effective January 1, 2015, 39 TexReg 9669; amended to be effective January 1, 2016, 40 TexReg 8220.