A licensed attorney is exempt from the requirements of Texas Occupations Code, Chapter 1101, (the Act) but cannot sponsor real estate salespersons or serve as the designated officer or manager of a licensed corporation or limited liability company unless the attorney is also licensed as a real estate broker. This provision is not a waiver of the standards of eligibility and qualification elsewhere established in the Act.

Source Note:The provisions of this §535.31 adopted to be effective January 1, 1976; amended to be effective March 19, 1990, 15 TexReg 1235; amended to be effective April 14, 1998, 23 TexReg 3682; amended to be effective July 1, 1999, 24 TexReg 4825; amended to be effective January 1, 2004, 28 TexReg 9541.