Texas Real Estate Exam (State Portion): Commission Duties and Powers Study Guide with Complete Solutions

Texas Real Estate Exam (State Portion): Commission Duties and Powers Study Guide with Complete Solutions 1939 - Answer️️ -Texas Real Estate (Dealers) License Act makes it illegal to sell real estate without a license 1949 - Answer️️ -TRELA (Texas Real Estate Licensing Act) was passed creating TREC (Texas Real Estate Commission) TREC (Texas Real Estate Commission) - Answer️️ -Created in 1949 consisting of 9 commissioners: 6 brokers with 5+ years experience, 3 general public Appointed by the Governor for 6 years Approved by 2/3 of the Senate Coded TRELA as Title 7 of Occupational Code: Chapter 1101- activities of brokers and sales assoc. Chapter 1102- license and law of RE inspectors TREC duties/ powers - Answer️️ -make rules and regulations, full force and effect of law, protect public, inspect/accredit education programs, advise with reference to laws administered, NOT mediate between disputes, NOT recommend licensees, conduct hearings/final decisions in contested cases, suspend/revoke licenses in violation of Act or rule ©SOPHIABENNETT_2024/2025 EXAM SERIES Monday, September 2, 2024 9:52 AM Page | 2 Real Estate Broker Lawyer Committee - Answer️️ -draft/revise TREC promulgated contracts 13 members: 6 by commission, 6 state bar appointed by Pres., 1 public member appointed by Governor staggered 6 year terms: 2 commission appointees, 2 state bar appointees (expires every 2 years) Advisory Committee - Answer️️ -may not receive compensation for but may be reimbursed for actual and necessary expenses TREC Investigations - Answer️️ -written complaint with proper evidence, investigate and record actions, complaint submitted within 4 years of event IF judgement paid by recovery fund then complaint within 2 years of event DTPA requires 2 year statute of limitation TREC Commissions Complaint against licensee IF - Answer️️ -paid from recovery fund, criminal offense, bad check issued, fails to complete education requirements, fail to provide requested information Subpeona Power - Answer️️ -may subpoena for witness under oath for inspection, copying of books, accounts, records, papers, co