Final answer:
The Texas Real Estate License Act is the statute that the Texas Real Estate Commission (TREC) administers and enforces, overseeing real estate professionals in Texas and ensuring ethical practices in the industry.
Step-by-step explanation:
The statute administered and enforced by the Texas Real Estate Commission (TREC) is the Texas Real Estate License Act. TREC is a state agency responsible for overseeing the real estate industry within Texas. It ensures that licensed real estate professionals comply with the established laws and regulations. The commission also plays a part in consumer protection by ensuring ethical and fair practices in the real estate market. Additionally, other state officials like the commissioner of the Department of Agriculture and the Railroad Commission have regulatory authority over various industries, such as public utilities, transportation, and notably, the oil and gas industry.