Section 35.43 - Temporary Continuation of Business(a) Pursuant to §1702.122 of the Act, if a company representative ceases to be connected with a company license holder, the business may be temporarily operated by an owner, officer, partner, or shareholder for a period not to exceed ninety (90) days following the date the company representative ceases to be connected with the company license holder.(b) Continued operation of the company in a regulated capacity beyond the ninety (90) day period provided in subsection (a) of this section, without a qualified company representative, is a violation of the Act.(c) An individual whose registration as a qualified manager expires on September 1, 2019, under the provisions of the 86th Legislature, Senate Bill 616, may continue to function as the company representative until the later of either September 1, 2020, or until the company license expires. Upon renewal of the company license, the company representative must meet the requirements of § 35.41(c) of this title (relating to Company Representative).(d) An individual may not continue to function as the company representative, and is deemed to no longer be connected with the company for purposes of this section, should the individual fail to meet the eligibility criteria provided in the Act and this chapter.37 Tex. Admin. Code § 35.43
The provisions of this §35.43 adopted to be effective May 6, 2014, 39 TexReg 3606; Amended by Texas Register, Volume 44, Number 51, December 20, 2019, TexReg 8028, eff. 12/29/2019