San Antonio Voters Elect New Mayor and Six New Council Members

The June 10th runoff results for San Antonio mayor and six council seats are in, and the city will soon welcome its new mayor and six new council members to office. In an unusual turn of events, the runoff elections saw increased voter turnout from the general elections. Just over 13 percent of the city’s registered voters turned out for the election, a slight increase from the 11 percent that turned out for the general election. Read more

May an unlicensed individual manage a trust account for a broker?

Question:  May an unlicensed individual manage a trust account for a broker?

Answer:  No. Under TREC Rule §535.146(C)(7) it provides: “A broker may only authorize another license holder to withdraw or transfer money from any trust account but the broker remains responsible and accountable for all trust money received by that broker and all deposits to or disbursements from the trust account.”

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