Section 535.1 - DefinitionsThe following terms and phrases, when used in this chapter, have the following meanings unless the context clearly indicates otherwise.
(1) Act--Chapter 1101, Texas Occupations Code.(2) Business entity--A domestic or foreign corporation, limited liability company, partnership or other entity authorized under the Texas Business Organizations Code to engage in real estate brokerage business in Texas and required to be licensed under the Act.(3) Chapter 1102--Chapter 1102, Texas Occupations Code.(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) Executive Director--The Executive Director of the Texas Real Estate Commission.(7) Foreign broker--A real estate broker licensed in another country, territory, or state other than Texas.(8) License--Any Commission license, registration, certificate, approval, or similar form of permission required by law.(9) License holder--A person licensed or registered by the Commission under Chapter 1101 or 1102, Texas Occupations Code.(10) Place of business--A place where the license holder meets with clients and customers to transact business.(11) 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.22 Tex. Admin. Code § 535.1
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 by Texas Register, Volume 39, Number 50, December 12, 2014, TexReg 9672, eff. 1/1/2015; Amended by Texas Register, Volume 40, Number 47, November 20, 2015, TexReg 8220, eff. 1/1/2016; Amended by Texas Register, Volume 48, Number 23, June 9, 2023, TexReg 2948, eff. 6/11/2023