Tex. Fin. Code § 156.502 · Subchapter F. RECOVERY FUND
FUNDING.
Text — Current through the 89th 2nd Called Legislative Session, 2025
Text of section as amended by Acts 2021, 87th Leg., R.S., Ch. 929 (H.B. 3617), Sec. 6
(a) On an application for an original license issued under Chapter 157, the applicant, in addition to paying the original application fee, shall pay a fee in the amount of $20. The fee shall be deposited in the recovery fund.
Without reference to the amendment of this subsection, this subsection was repealed by Acts 2021, 87th Leg., R.S., Ch. 963 (S.B. 1900), Sec. 7(3), eff. September 1, 2021.
(a-1) All or any portion of the amount of a penalty that is collected by the commissioner under Sections 156.302, 156.303, 157.023, 157.024, 157.031, 158.105, and 180.202, as determined by the commissioner, may be deposited to the credit of the recovery fund at the end of each fiscal year.
(b) If the balance remaining in the recovery fund at the end of a calendar year is more than $3.5 million, the amount of money in excess of that amount shall be remitted by the commissioner to the comptroller for deposit in the mortgage grant fund established under Subchapter G.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 1254, Sec. 2, eff. Sept. 1, 1999.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 20, eff. September 1, 2009.
Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 21, eff. September 1, 2009.
Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 29, eff. September 1, 2009.
Acts 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124), Sec. 39, eff. September 1, 2011.
Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004), Sec. 41, eff. September 1, 2013.
Acts 2021, 87th Leg., R.S., Ch. 929 (H.B. 3617), Sec. 6, eff. September 1, 2021.
Acts 2021, 87th Leg., R.S., Ch. 963 (S.B. 1900), Sec. 7(3), eff. September 1, 2021.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.156.htm
- Text hash
- sha256 80a1c0b4175bc731d9df28bc6ca9d4b626095e5b8f50a503ab5e03df66b6043d
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Finance Code
- Tex. Fin. Code § 156.302ADMINISTRATIVE PENALTY.Printed as Sections 156.302, 156.303, 157.023, 157.024, 157.031, 158.105, and 180.202
- Tex. Fin. Code § 156.303DISCIPLINARY ACTION; CEASE AND DESIST ORDER.Printed as Sections 156.302, 156.303, 157.023, 157.024, 157.031, 158.105, and 180.202
- Tex. Fin. Code ch. 157MORTGAGE BANKERS AND RESIDENTIAL MORTGAGE LOAN ORIGINATORSPrinted as Chapter 157
- Tex. Fin. Code § 157.023ADMINISTRATIVE PENALTY.Printed as Sections 156.302, 156.303, 157.023, 157.024, 157.031, 158.105, and 180.202
- Tex. Fin. Code § 157.024DISCIPLINARY ACTION; CEASE AND DESIST ORDER.Printed as Sections 156.302, 156.303, 157.023, 157.024, 157.031, 158.105, and 180.202
- Tex. Fin. Code § 157.031UNLICENSED ACTIVITY; OFFENSE.Printed as Sections 156.302, 156.303, 157.023, 157.024, 157.031, 158.105, and 180.202
- Tex. Fin. Code § 158.105CEASE AND DESIST ORDER.Printed as Sections 156.302, 156.303, 157.023, 157.024, 157.031, 158.105, and 180.202
- Tex. Fin. Code § 180.202ADMINISTRATIVE PENALTY.Printed as Sections 156.302, 156.303, 157.023, 157.024, 157.031, 158.105, and 180.202
Cited by 3 provisions
Provisions in this library whose text cites Tex. Fin. Code § 156.502. Each shows the citation as that text prints it.
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