Tex. Fin. Code Section 341.603
Funding

(a)

An applicant for an original residential mortgage loan originator license issued under Chapter 342 (Consumer Loans), 347 (Manufactured Home Credit Transactions), 348 (Motor Vehicle Installment Sales), or 351 (Property Tax Lenders) or for renewal of a residential mortgage loan originator license issued under Chapter 342 (Consumer Loans), 347 (Manufactured Home Credit Transactions), 348 (Motor Vehicle Installment Sales), or 351 (Property Tax Lenders) shall, in addition to paying the original application fee or renewal fee, pay a fee in an amount determined by the commissioner. The fee shall be deposited in the fund.

(b)

If the balance remaining in the fund at the end of a calendar year is more than $2.5 million, the amount of money in excess of that amount shall be available to the commissioner to offset the expenses of participating in and sharing information with the Nationwide Mortgage Licensing System and Registry in accordance with Chapter 180 (Residential Mortgage Loan Originators).
Added by Acts 2009, 81st Leg., R.S., Ch. 1104 (H.B. 10), Sec. 9, eff. June 19, 2009.

Source: Section 341.603 — Funding, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­341.­htm#341.­603 (accessed Apr. 29, 2024).

Green check means up to date. Up to date

Accessed:
Apr. 29, 2024

§ 341.603’s source at texas​.gov