Sec. 156.552. FUNDING. The mortgage grant fund consists of:
(1) penalties collected by the commissioner and deposited to the credit of the fund in accordance with Section 156.551(b); and
(2) excess amounts transferred from the recovery fund under Section 156.502(b).
Added by Acts 2021, 87th Leg., R.S., Ch. 929 (H.B. 3617), Sec. 7, eff. September 1, 2021.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Subtitle E - Other Financial Businesses
Chapter 156 - Residential Mortgage Loan Companies
Subchapter G. Mortgage Grant Fund
Section 156.551. Mortgage Grant Fund
Section 156.553. Management of Fund
Section 156.554. Disbursement From Fund
Section 156.555. Payment of Claims for Fraudulent Unlicensed Activity