A sales agent may not receive a commission or other valuable consideration except with the written consent of the sales agent's sponsoring broker or the broker who sponsored the sales agent when the sales agent became entitled to the commission or other valuable consideration. A sales agent may not pay a commission or other valuable consideration to another person except with the written consent of the sales agent's sponsoring broker.

Source Note: The provisions of this §535.3 adopted to be effective January 1, 1976; amended to be effective October 20, 1983, 8 TexReg 3997; amended to be effective April 14, 1998, 23 TexReg 3681; amended to be effective July 1, 1999, 24 TexReg 4822; amended to be effective January 1, 2011, 35 TexReg 11674; amended to be effective January 1, 2015, 39 TexReg 9669; amended to be effective June 11, 2023, 48 TexReg 2948