Sec. 502.1984. INTEREST ON FEES. (a) A fee required to be sent to the department under this chapter bears interest for the benefit of the state highway fund or the Texas Department of Motor Vehicles fund, as applicable, at an annual rate of 10 percent beginning on the 60th day after the date the county assessor-collector collects the fee.
(b) The department shall audit the registration and transfer fees collected and disbursed by each county assessor-collector and shall determine the exact amount of interest due on any fee not sent to the department.
(c) The state has a claim against a county assessor-collector and the sureties on the assessor-collector's official bond for the amount of interest due on a fee.
Transferred and redesignated from Transportation Code, Section 502.107 by Acts 2011, 82nd Leg., R.S., Ch. 1296 (H.B. 2357), Sec. 119, eff. January 1, 2012.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 1287 (H.B. 2202), Sec. 24, eff. September 1, 2013.
Structure Texas Statutes
Title 7 - Vehicles and Traffic
Subtitle A - Certificates of Title and Registration of Vehicles
Chapter 502 - Registration of Vehicles
Subchapter E. Administration of Fees
Section 502.190. Schedule of Registration Fees
Section 502.191. Collection of Fees
Section 502.1911. Registration Processing and Handling Fee
Section 502.193. Payment by Check Drawn Against Insufficient Funds
Section 502.1931. Disputed Payment by Credit Card or Debit Card
Section 502.194. Credit for Registration Fee Paid on Motor Vehicle Subsequently Destroyed
Section 502.195. Refund of Overcharged Registration Fee
Section 502.196. Deposit of Registration Fees in State Highway Fund
Section 502.197. Registration by Mail or Electronic Means; Service Charge
Section 502.198. Disposition of Fees Generally
Section 502.1983. Deposit of Fees in Interest-Bearing Account
Section 502.1984. Interest on Fees
Section 502.1985. Use of Registration Fees Retained by County
Section 502.1986. Contingent Provision for Distribution of Fees Between State and Counties