Texas § FI.156.502 - FUNDING
Full text of Texas The Texas Constitution § FI.156.502 — FUNDING, with citation guidance and answers to common questions.
§ FI.156.502. FUNDING
FUNDING. (a) On an application for an original license issued under Chapter 157 , the applicant, in addition to paying the original application fee, shall pay a fee in the amount of $20. The fee shall be deposited in the recovery fund. (a-1) All or any portion of the amount of a penalty that is collected by the commissioner under Sections 156.302 , 156.303 , 157.023 , 157.024 , 157.031 , 158.105 , and 180.202 , as determined by the commissioner, may be deposited to the credit of the recovery fund at the end of each fiscal year. Without reference to the amendment of this subsection, this subsection was repealed by Acts 2021, 87th Leg., R.S., Ch. 963 (S.B. 1900 ), Sec. 7(3), eff. September 1, 2021. (b) If the balance remaining in the recovery fund at the end of a calendar year is more than $3.5 million, the amount of money in excess of that amount shall be remitted by the commissioner to the comptroller for deposit in the mortgage grant fund established under Subchapter G. Added by Acts 1999, 76th Leg., ch. 1254, Sec. 2, eff. Sept. 1, 1999. Amended by: Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774 ), Sec. 20, eff. September 1, 2009. Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774 ), Sec. 21, eff. September 1, 2009. Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774 ), Sec. 29, eff. September 1, 2009. Acts 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124 ), Sec. 39, eff. September 1, 2011. Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004 ), Sec. 41, eff. September 1, 2013. Acts 2021, 87th Leg., R.S., Ch. 929 (H.B. 3617 ), Sec. 6, eff. September 1, 2021. Acts 2021, 87th Leg., R.S., Ch. 963 (S.B. 1900 ), Sec. 7(3), eff. September 1, 2021.
Frequently Asked Questions About Texas § FI.156.502
What does The Texas Constitution § FI.156.502 cover?
Section FI.156.502 ("FUNDING") 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 § FI.156.502?
A common citation format is "The Texas Constitution § FI.156.502" (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 § FI.156.502 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.