Texas License Law
A Texas real estate broker who terminates their license must:
ATransfer all pending transactions to TREC
BProperly handle or transfer all pending transactions, notify clients, and ensure sponsored agents find new brokers✓ Correct
CWait 30 days before terminating
DOnly notify the Texas Association of REALTORS
Explanation
When a Texas broker terminates their license, they have obligations including properly handling or referring all pending transactions, notifying all clients of the termination, releasing sponsored agents (whose licenses become inactive), and ensuring trust accounts are properly handled. Failure to properly wind down can result in regulatory action.
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