Tex. Occupations Code § 1101.453
This is the official text of Tex. Occupations Code § 1101.453, part of Texas’s Occupations Code — governs professional and occupational licensing.
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§ 1101.453. ADDITIONAL RENEWAL REQUIREMENTS FOR BUSINESS ENTITIES.
Official statutory text
(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.
(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.
Status: in_force · Read it on the official government site
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