SCh1 General Powers And Composition

Question 1

When was TREC created?

Answer 1

1949

Question 2

Why was TREC created?

Answer 2

To administer the provisions of the License Act

Question 3

When was the License Act passed?

Answer 3

1939

Question 4

What is the primary purpose of the License Act and TREC?

Answer 4

To protect the public

Question 5

What does TREC have the authority to do?

Answer 5

Make rules and regulations that govern license holders

Question 6

What is the breakdown of the members of TREC?

Answer 6

9 commission members
3 represent the general public
6 are real estate brokers

Question 7

Who appoints and approves of the TREC members?

Answer 7

All are appointed by the governor and approved by the Senate

Question 8

How long are the terms of the TREC members?

Answer 8

They serve for six year staggered terms

Question 9

What does TREC have the power to do?

Answer 9

Subpoena books, records, and witnesses

Question 10

If a license holder fails to respond to a subpoena, what can TREC do?

Answer 10

File suit with the attorney general to enforce the subpoena

Question 11

What does the broker lawyer committee do?

Answer 11

Write the promulgated contract forms

Question 12

What is the makeup of the broker lawyer committee?

Answer 12

13 members
6 are brokers appointed by TREC
6 are lawyers appointed by the president of the state bar association
1 is a public member appointed by the governor

Question 13

What does the real estate center at Texas A&M University have to assist TREC?

Answer 13

An Advisory committee