This is a clone of the Texas Administrative Code (TAC) for educational purposes. It is not the official version and should not be used for legal purposes. Site created Wed, 21 May 2025 21:16:43 GMT
(a) The license of a sales agent becomes inactive upon:(1) the death of the sales agent's sponsoring broker;(2) the expiration, suspension, revocation or inactivation of the license of the sponsoring broker;(3) if the sponsoring broker is a business entity, the dissolution of the entity or the forfeiture of its charter;(4) if the sponsoring broker is a business entity, the expiration, suspension, revocation, or inactivation of the license of the designated broker of the entity;(5) termination of sponsorship by the sales agent or sponsoring broker;(6) failure to timely complete continuing education required under the Act and this chapter; or(7) receipt by the Commission of an application for inactive status.(b) If the broker intends to terminate the sponsorship, the broker must immediately:(1) notify the sales agent in writing; and(2) terminate the sponsorship:(A) through the online process approved by the Commission; or(B) on the appropriate form delivered to the Commission.(c) If the sales agent intends to terminate the sponsorship, the sales agent must immediately:(1) notify the broker in writing; and(2) terminate the sponsorship:(A) through the online process approved by the Commission; or(B) on the appropriate form delivered to the Commission.(d) If a sponsorship is terminated on a form under this section, the effective date of the termination of the sponsorship is the date the Commission receives the completed form and any applicable fee.(e) It is the responsibility of the sales agent on inactive status to pay all required license renewal fees timely to prevent the inactive license from expiring.