1. (a) For the purposes of this section, "inactive broker" means a licensed broker who does not sponsor salespersons or perform any activities for which a broker license is required and who has been placed on inactive status by the commission.

2. (b) To be placed on inactive status, a broker must do the following:

   1. (1) apply to the commission on a form approved by the commission for that purpose or by a letter providing the broker's name, license number and current mailing address, telephone number and email address;
   2. (2) confirm in writing that the broker has given any salespersons sponsored by the broker written notice of termination of sponsorship at least 30 days prior to filing the request for inactive status; and
   3. (3) return the broker's current license certificate to the commission.
3. (c) To return to active status a broker who has been placed on inactive status must apply to the commission for return to active status on a form approved by the commission, pay the appropriate fee and satisfy MCE requirements specified in §1101.455 of the Act and the Rules.
4. (d) A broker who has been on inactive status may resume practice once the broker has satisfied MCE requirements, and the application for return to active status and appropriate fee have been mailed to or delivered to the commission.

Source Note:The provisions of this §535.123 adopted to be effective November 18, 1991, 16 TexReg 6291; amended to be effective November 23, 1993, 18 TexReg 8198; amended to be effective May 27, 1998, 23 TexReg 5437; amended to be effective August 31, 2004, 29 TexReg 8296; amended to be effective January 1, 2011, 35 TexReg 11690.