Texas § FI.156.555 - PAYMENT OF CLAIMS FOR FRAUDULENT UNLICENSED ACTIVITY
Full text of Texas The Texas Constitution § FI.156.555 — PAYMENT OF CLAIMS FOR FRAUDULENT UNLICENSED ACTIVITY, with citation guidance and answers to common questions.
§ FI.156.555. PAYMENT OF CLAIMS FOR FRAUDULENT UNLICENSED ACTIVITY
PAYMENT OF CLAIMS FOR FRAUDULENT UNLICENSED ACTIVITY. (a) A residential mortgage loan applicant may make a claim on and receive payment from the mortgage grant fund for the recovery of the applicant's actual, out-of-pocket damages incurred because of fraud committed by an individual who acted as a residential mortgage loan originator but who did not hold the required license issued under Chapter 157 at the time the individual committed the fraudulent act. (b) The eligibility and procedural requirements for a claim made under Section 156.504 and the statute of limitations under Section 156.503 apply to a residential mortgage loan applicant who makes a claim under this section. (c) Payments made from the mortgage grant fund to a residential mortgage loan applicant under this section are subject to the limits provided by Section 156.505 . Added by Acts 2021, 87th Leg., R.S., Ch. 929 (H.B. 3617 ), Sec. 7, eff. September 1, 2021.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § FI.156.555
What does The Texas Constitution § FI.156.555 cover?
Section FI.156.555 ("PAYMENT OF CLAIMS FOR FRAUDULENT UNLICENSED ACTIVITY") 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.156.555?
A common citation format is "The Texas Constitution § FI.156.555" (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.156.555 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.