The amendment to §535.191: (i) clarifies that a person may only pay an administrative penalty in an authorized manner; and (ii) adds that if an online payment is authorized, such a payment may be subject to fees set by the Department of Information Resources that are in addition to the administrative penalty assessed by the Commission.
New §534.8 addresses the operation and procedures of both the employee sick and family leave pool required by sections 661.002 and 661.022, Texas Government Code.
La nueva §534.8 aborda la operación y los procedimientos del fondo de licencia por enfermedad y familiar de los empleados requerido por las secciones 661.002 y 661.022 del Código de Gobierno de Texas.
The amendments to §531.20 and the form adopted by reference (the Information About Brokerage Services (IABS) notice) are made as a result of the recent industry changes surrounding broker compensation to clarify to the consumer that any brokerage fees are not set by law and are negotiable.
The Broker Responsibility Advisory Committee (BRAC) met October 15 and discussed potential changes to becoming a licensed broker in Texas.
Currently, to become a licensed broker, 900 education hours are required (630 of these hours are required to be in related education). If an applicant holds a bachelor’s degree or higher, the 630 hours of related education are satisfied, regardless of field of study.
The Broker-Lawyer Committee met October 11 and reviewed hundreds of public comments related to form changes proposed at the August TREC Meeting. Most of BLC’s recommended changes are the culmination of two years’ worth of work on the part of the committee, with other changes recommended in response to industry practice changes around broker compensation affecting many license holders.
The Texas Real Estate Inspector Committee (TREIC) met on October 14 at TREC headquarters in Austin.
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