Sec. 13.016. RECOVERY FUND. (a) Except as provided by Subchapter G, Chapter 156, the savings and mortgage lending commissioner shall establish, administer, and maintain one recovery fund for the purposes of Chapters 156 and 157. The recovery fund shall be administered and maintained under Subchapter F, Chapter 156.
(b) The savings and mortgage lending commissioner's authority under this section includes the authority to enforce disciplinary action as provided by Chapters 156 and 157 for a person's failure to comply with the applicable provisions of those chapters relating to the recovery fund and with applicable rules adopted under those chapters.
Added by Acts 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124), Sec. 2, eff. September 1, 2011.
Amended by:
Acts 2021, 87th Leg., R.S., Ch. 929 (H.B. 3617), Sec. 1, eff. September 1, 2021.
Structure Texas Statutes
Title 2 - Financial Regulatory Agencies
Chapter 13 - Department of Savings and Mortgage Lending
Section 13.002. Savings and Mortgage Lending Commissioner
Section 13.003. Deputy Commissioners
Section 13.006. Oath of Office
Section 13.007. General Powers and Duties of Commissioner
Section 13.009. Conflicts of Law
Section 13.010. Conflicts of Interest
Section 13.011. Consumer Information and Complaints
Section 13.012. Sunset Provision
Section 13.013. Standards of Conduct
Section 13.014. Equal Employment Opportunity Policy
Section 13.017. Alternative Rulemaking and Dispute Resolution