Sec. 1103.204. FULFILLMENT OF EDUCATION REQUIREMENTS. (a) In this section, "real estate-related financial transaction" means a transaction involving:

(1) selling, leasing, purchasing, exchanging, investing in, or financing real property or an interest in real property;

(2) refinancing real property or an interest in real property; or

(3) using real property or an interest in real property as security for a loan or investment, including a mortgage-backed security.

(b) This chapter does not limit the amount of time in which an applicant for a certificate or license is required to satisfy the education requirements under this subchapter.

(c) The board shall give an applicant for a certificate or license credit toward fulfilling the requirements of Section 1103.202(2) for classroom hours taken in the course of becoming licensed as a real estate broker or sales agent or for professional development or continuing education courses taken, whether the classroom hours or courses are taken by a person as a real estate broker or sales agent or as an employee of a financial institution engaged in real estate-related financial transactions, if the classroom hours or courses satisfy the requirements established by the guidelines recognized by the Appraiser Qualifications Board.

Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.

Amended by:

Acts 2005, 79th Leg., Ch. 703 (S.B. 381), Sec. 8, eff. September 1, 2005.

Acts 2015, 84th Leg., R.S., Ch. 950 (S.B. 1007), Sec. 24, eff. January 1, 2016.