Broker Reynolds operates a real estate brokerage as a limited liability company (LLC). Under TRELA, what license must the LLC hold?
Correct Answer
A) The LLC must hold its own broker license issued by TREC and designate Reynolds as the licensed broker officer
Under Texas Occupations Code §1101.355, business entities including LLCs that engage in real estate brokerage must obtain their own broker license from TREC. The entity must designate a licensed broker officer who is responsible for the entity's compliance with TRELA and TREC rules.
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