Tex. Occ. Code § 702.253 · Subchapter F. CLAIM ON SECURITY
ADJUDICATION ON PRO RATA BASIS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
If the total amount of actual financial losses computed under Section 702.252 for all claims filed under Section 702.251 exceeds the amount of available security, the secretary of state shall reduce the amount of each recovery under Section 702.252 on a pro rata basis and shall compute the amount of each recovery by:
(1) dividing the amount of available security by the total amount of actual financial losses computed under Section 702.252 for all claims; and
(2) multiplying the results computed under Subdivision (1) by the amount of the recovery.
Notes and commentary — not statutory text
History
Acts 1999, 76th Leg., ch. 388, Sec. 1, eff. Sept. 1, 1999. Amended by Acts 2001, 77th Leg., ch. 756, Sec. 1, eff. Sept. 1, 2001.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/OC/htm/OC.702.htm
- Text hash
- sha256 a3ed634b3e1b54a44bc6da35c1ba84088f104cbbc7323c27e9fc52ebe71a1ed0
- 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
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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.