Tex. Gov't Code § 825.3021 · Subchapter D. MANAGEMENT OF ASSETS
APPRAISAL AND SALE OF REAL PROPERTY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
If the retirement system acquires, through foreclosure or conveyance of deed in lieu of foreclosure, real property assets or stock in an entity the major asset of which is real property, the retirement system shall, not later than the 90th day after the date of acquisition:
(1) have the real property appraised by an appraiser who is not a trustee or employee of the retirement system and who has received MAI or SRA;
(2) acquire a foreclosure endorsement to the mortgagee's title insurance policy; and
(3) if the real property contains improvements, employ an individual who is not, or a property management company that is not owned by, a trustee or employee of the retirement system and who is, or that employs, a CPM, CAM, or RAM to manage the property.
Notes and commentary — not statutory text
History
Added by Acts 1993, 73rd Leg., ch. 812, Sec. 21, eff. Sept. 1, 1993.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.825.htm
- Text hash
- sha256 5eecc81b340a9b9425890f577339e21077f10843c7cb1f3430ae183f71a75948
- 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
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.