Texas § FI.156.551 - MORTGAGE GRANT FUND
Full text of Texas The Texas Constitution § FI.156.551 — MORTGAGE GRANT FUND, with citation guidance and answers to common questions.
§ FI.156.551. MORTGAGE GRANT FUND
MORTGAGE GRANT FUND. (a) The commissioner shall establish, administer, and maintain a mortgage grant fund as provided by this subchapter. The amounts received by the commissioner for deposit in the fund shall be held by the commissioner in trust for carrying out the purposes of the fund. (b) Subject to Subsection (c), 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 mortgage grant fund at the end of each fiscal year. (c) The balance of the mortgage grant fund may not at any time exceed $300,000. Added by Acts 2021, 87th Leg., R.S., Ch. 929 (H.B. 3617 ), Sec. 7, eff. September 1, 2021.
Frequently Asked Questions About Texas § FI.156.551
What does The Texas Constitution § FI.156.551 cover?
Section FI.156.551 ("MORTGAGE GRANT FUND") 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.156.551?
A common citation format is "The Texas Constitution § FI.156.551" (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.156.551 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.