Sec. 1105.010. POST-PARTICIPATION LIABILITY. (a) If the agency no longer has status under this chapter as a self-directed semi-independent agency for any reason, the agency shall be liable for any expenses or debts incurred by the agency during the time the agency was a self-directed semi-independent agency. The agency's liability under this section includes liability for any lease entered into by the agency. This state is not liable for any expense or debt covered by this subsection, and money from the general revenue fund may not be used to repay the expense or debt.
(b) If the agency no longer has status under this chapter as a self-directed semi-independent agency for any reason, ownership of any property or other asset acquired by the agency during the time the agency was a self-directed semi-independent agency, including unexpended fees in a deposit account in the Texas Treasury Safekeeping Trust Company, shall be transferred to this state.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1333 (S.B. 1000), Sec. 1, eff. September 1, 2011.
Structure Texas Statutes
Title 7 - Practices and Professions Related to Real Property and Housing
Subtitle A - Professions Related to Real Estate
Chapter 1105 - Self-Directed and Semi-Independent Status of Texas Real Estate Commission
Section 1105.002. Self-Directed and Semi-Independent Status
Section 1105.003. Budget, Revenues, and Expenses
Section 1105.005. Records; Reporting Requirements
Section 1105.006. Ability to Contract
Section 1105.009. Administrative Hearings
Section 1105.010. Post-Participation Liability