Section 1101.603 - Payments Into Trust Account(a) [Repealed by 2023 amendment](b) Repealed by Acts 2015, 84th Leg., R.S., Ch. 1158 , Sec. 92, eff. January 1, 2016.(c)[Effective until 9/1/2023]
Notwithstanding any other law, the commission shall deposit to the credit of the trust account or the real estate inspection recovery fund, as determined by the commission, an administrative penalty collected under Subchapter O for a violation by a person licensed under this chapter or Chapter 1102.(c)[Effective 9/1/2023]
Notwithstanding any other law, the commission shall deposit to the credit of the trust account an administrative penalty collected under Subchapter O . (d)[Repealed Effective 9/1/2023]
Notwithstanding any other law, an administrative penalty collected under Subchapter O for a violation by a person who is not licensed under this chapter or Chapter 1102 shall be deposited to the credit of the trust account or the real estate inspection recovery fund, as determined by the commission.(e) [Repealed by 2023 amendment](f) To ensure the availability of a sufficient amount to pay anticipated claims on the trust account, the commission by rule may provide for the collection of fees or assessments from an applicant for an original license or certificate of registration or from a license or certificate holder at the next renewal to credit to the trust account . Tex. Occ. Code § 1101.603
Amended by Acts 2023, Texas Acts of the 88th Leg.- Regular Session, ch. 686,Sec. 1, eff. 9/1/2023.Amended by Acts 2023, Texas Acts of the 88th Leg.- Regular Session, ch. 686,Sec. 5, eff. 9/1/2023.Amended by Acts 2023, Texas Acts of the 88th Leg.- Regular Session, ch. 94,Sec. 28, eff. 1/1/2024.Amended by Acts 2023, Texas Acts of the 88th Leg.- Regular Session, ch. 94,Sec. 13, eff. 1/1/2024.Amended by Acts 2015, Texas Acts of the 84th Leg. - Regular Session, ch. 1158,Sec. 92, eff. 1/1/2016.Amended by Acts 2015, Texas Acts of the 84th Leg. - Regular Session, ch. 1158,Sec. 61, eff. 1/1/2016.Amended by Acts 2003, 78th Leg., ch. 1276, Sec. 14A.160(a), eff. 9/1/2003.Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. 6/1/2003.