By: Ogden H.B. No. 1187
73R4081 CAG-F
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the ability of a limited liability company to be
1-3 licensed under The Real Estate License Act.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Section 2(5), The Real Estate License Act
1-6 (Article 6573a, Vernon's Texas Civil Statutes), is amended to read
1-7 as follows:
1-8 (5) "Person" means an individual, <or> a corporation,
1-9 foreign or domestic, or a domestic or foreign limited liability
1-10 company, as defined by Article 1.02, Texas Limited Liability
1-11 Company Act (Article 1528n, Vernon's Texas Civil Statutes).
1-12 SECTION 2. Section 6(c), The Real Estate License Act
1-13 (Article 6573a, Vernon's Texas Civil Statutes), is amended to read
1-14 as follows:
1-15 (c) To be eligible for a license, a corporation or limited
1-16 liability company must designate one of its officers or members to
1-17 act for it. The designated person must be a citizen of the United
1-18 States or a lawfully admitted alien, be at least 18 years of age,
1-19 and be a resident of Texas for at least 60 days immediately
1-20 preceding the filing of an application, and must be qualified to be
1-21 licensed individually as a real estate broker. However, the
1-22 competency of the person shall be judged solely on the basis of the
1-23 examination referred to in Section 7 of this Act.
1-24 SECTION 3. Section 19(a), The Real Estate License Act
2-1 (Article 6573a, Vernon's Texas Civil Statutes), is amended to read
2-2 as follows:
2-3 (a) A person acting as a real estate broker or real estate
2-4 salesman without first obtaining a license is guilty of a
2-5 misdemeanor and on conviction shall be punishable by a fine of not
2-6 less than $100 nor more than $500, or by imprisonment in the county
2-7 jail for a term not to exceed one year, or both; and if a
2-8 corporation or limited liability company, shall be punishable by a
2-9 fine of not less than $1,000 nor more than $2,000. A person, on
2-10 conviction of a second or subsequent offense, shall be punishable
2-11 by a fine of not less than $500 nor more than $1,000, or by
2-12 imprisonment for a term not to exceed two years, or both; and if a
2-13 corporation or limited liability company, shall be punishable by a
2-14 fine of not less than $2,000 nor more than $5,000.
2-15 SECTION 4. The importance of this legislation and the
2-16 crowded condition of the calendars in both houses create an
2-17 emergency and an imperative public necessity that the
2-18 constitutional rule requiring bills to be read on three several
2-19 days in each house be suspended, and this rule is hereby suspended,
2-20 and that this Act take effect and be in force from and after its
2-21 passage, and it is so enacted.