Texas § OC.1101.610 - PAYMENT LIMITS
Full text of Texas The Texas Constitution § OC.1101.610 — PAYMENT LIMITS, with citation guidance and answers to common questions.
§ OC.1101.610. PAYMENT LIMITS
PAYMENT LIMITS; ATTORNEY'S FEES. (a) Payments from the trust account for claims, including attorney's fees, interest, and court costs, arising out of a single transaction may not exceed a total of $125,000, regardless of the number of claimants. (b) Payments from the trust account for claims based on judgments against a single license or certificate holder may not exceed a total of $250,000 until the license or certificate holder has reimbursed the trust account for all amounts paid. (c) If the court finds that the total amount of claims against a license or certificate holder exceeds the limitations in this section, the court shall proportionately reduce the amount payable on each claim. (d) A person receiving payment from the trust account is entitled to receive reasonable attorney's fees in the amount determined by the court, subject to the limitations prescribed by this section. (e) For purposes of this section, a business entity and the broker who is the business entity's designated broker are considered a single license holder. Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003. Amended by: Acts 2015, 84th Leg., R.S., Ch. 1158 (S.B. 699 ), Sec. 66, eff. January 1, 2016. Acts 2023, 88th Leg., R.S., Ch. 94 (S.B. 1577 ), Sec. 14, eff. January 1, 2024.
Frequently Asked Questions About Texas § OC.1101.610
What does The Texas Constitution § OC.1101.610 cover?
Section OC.1101.610 ("PAYMENT LIMITS") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § OC.1101.610?
A common citation format is "The Texas Constitution § OC.1101.610" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § OC.1101.610 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.