Sec. 1101.367. INACTIVE LICENSE: SALES AGENT. (a) When the relationship of a sales agent with the sales agent's sponsoring broker terminates, the terminating party shall immediately notify in writing both the other party and the commission. On receiving the written notice, the commission shall place the sales agent license on inactive status.
(b) The commission may return a sales agent license to active status under Subsection (a) if, before the expiration date of the sales agent license, a licensed broker files a request with the commission advising the commission that the broker assumes sponsorship of the sales agent, accompanied by the appropriate fee.
(c) As a condition of returning to active status, an inactive sales agent whose license is not subject to the education requirements of Section 1101.454 must provide to the commission proof of attending continuing education as specified by Section 1101.455 during the two years preceding the date the application to return to active status is filed.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003. Amended by Acts 2003, 78th Leg., ch. 15, Sec. 6, eff. Sept. 1, 2003; Acts 2003, 78th Leg., ch. 1276, Sec. 14A.158(c), eff. Sept. 1, 2003.
Amended by:
Acts 2011, 82nd Leg., R.S., Ch. 1064 (S.B. 747), Sec. 11, eff. September 1, 2011.
Acts 2015, 84th Leg., R.S., Ch. 1158 (S.B. 699), Sec. 43, eff. January 1, 2016.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
