Sec. 341.604. STATUTE OF LIMITATIONS. (a) An application for the recovery of actual damages from the fund under Section 341.605 may not be filed after the second anniversary of the date of the alleged act or omission causing the actual damages or the date the act or omission should reasonably have been discovered.
(b) This section does not apply to a subrogation claim brought by the commissioner for recovery of money paid out of the fund.
Added by Acts 2009, 81st Leg., R.S., Ch. 1104 (H.B. 10), Sec. 9, eff. June 19, 2009.
Structure Texas Statutes
Title 4 - Regulation of Interest, Loans, and Financed Transactions
Subtitle B - Loans and Financed Transactions
Chapter 341 - General Provisions
Subchapter G. State-Licensed Residential Mortgage Loan Originator Recovery Fund
Section 341.602. State-Licensed Residential Mortgage Loan Originator Recovery Fund
Section 341.604. Statute of Limitations
Section 341.605. Procedure for Recovery
Section 341.606. Recovery Limits
Section 341.607. Revocation of License for Payment From Fund
Section 341.609. Failure to Comply With Subchapter or Rule Adopted by Finance Commission