Tex. Occ. Code § 1101.453 · Subchapter J. LICENSE RENEWAL
ADDITIONAL RENEWAL REQUIREMENTS FOR BUSINESS ENTITIES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) To renew a license under this chapter, a business entity must:
(1) designate one of its managing officers as its broker for purposes of this chapter; and
(2) provide proof that the entity maintains errors and omissions insurance with a minimum annual limit of $1 million for each occurrence if the designated broker owns less than 10 percent of the business entity.
(b) A business entity may not act as a broker unless the entity's designated broker is a licensed individual broker in active status and good standing according to the commission's records.
Notes and commentary — not statutory text
History
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
Amended by:
Acts 2011, 82nd Leg., R.S., Ch. 1064 (S.B. 747), Sec. 15, eff. September 1, 2011.
Acts 2015, 84th Leg., R.S., Ch. 1158 (S.B. 699), Sec. 50, eff. January 1, 2016.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/OC/htm/OC.1101.htm
- Text hash
- sha256 36947f57a0decbed3eb2fa74d5561e85f45bfe94be9f0998b2fb73af5ffab9f2
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.