Tex. Fin. Code Section 13.016
Recovery Fund

(a)

Except as provided by Subchapter G (Mortgage Grant Fund), Chapter 156 (Residential Mortgage Loan Companies), the savings and mortgage lending commissioner shall establish, administer, and maintain one recovery fund for the purposes of Chapters 156 (Residential Mortgage Loan Companies) and 157 (Mortgage Bankers and Residential Mortgage Loan Originators). The recovery fund shall be administered and maintained under Subchapter F (Recovery Fund), Chapter 156 (Residential Mortgage Loan Companies).

(b)

The savings and mortgage lending commissioner’s authority under this section includes the authority to enforce disciplinary action as provided by Chapters 156 (Residential Mortgage Loan Companies) and 157 (Mortgage Bankers and Residential Mortgage Loan Originators) for a person’s failure to comply with the applicable provisions of those chapters relating to the recovery fund and with applicable rules adopted under those chapters.
Added by Acts 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124), Sec. 2, eff. September 1, 2011.
Amended by:
Acts 2021, 87th Leg., R.S., Ch. 929 (H.B. 3617), Sec. 1, eff. September 1, 2021.

Source: Section 13.016 — Recovery Fund, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­13.­htm#13.­016 (accessed Apr. 20, 2024).

Green check means up to date. Up to date

Accessed:
Apr. 20, 2024

§ 13.016’s source at texas​.gov