{"data":{"id":"us-tx/tex.-occupations-code-1101.453","jurisdiction":"us-tx","citation":"Tex. Occupations Code § 1101.453","heading":"ADDITIONAL RENEWAL REQUIREMENTS FOR BUSINESS ENTITIES.","body":"(a) To renew a license under this chapter, a business entity must:\n(1) designate one of its managing officers as its broker for purposes of this chapter; and\n(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.\n(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.\nAdded by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.\nAmended by:\nActs 2011, 82nd Leg., R.S., Ch. 1064 (S.B. 747), Sec. 15, eff. September 1, 2011.\nActs 2015, 84th Leg., R.S., Ch. 1158 (S.B. 699), Sec. 50, eff. January 1, 2016.","path":["OCCUPATIONS CODE","TITLE 7. PRACTICES AND PROFESSIONS RELATED TO REAL PROPERTY AND HOUSING","SUBTITLE A. PROFESSIONS RELATED TO REAL ESTATE","CHAPTER 1101. REAL ESTATE BROKERS AND SALES AGENTS","SUBCHAPTER J. LICENSE RENEWAL"],"source_url":"https://statutes.capitol.texas.gov/Docs/OC/htm/OC.1101.htm#1101.453","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:31Z","sha256":"0aaaf58063fd9c44efb42fe64a7ea611933968c39008e4aee2ac7ff6e613a444","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-occupations-code-1101.4521","next":"us-tx/tex.-occupations-code-1101.454"},"notice":"GroundRules: Original legal text. Not legal advice."}