Tex. Occ. Code § 1101.601

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 1101.601 - Real Estate Recovery Trust Account

(a) The commission shall maintain a real estate recovery trust account to reimburse aggrieved persons who suffer actual damages caused by an act described by Section 1101.602 committed by:

(1) a license holder;

(2) a certificate holder; or

(3) a person who does not hold a license or certificate and who is an employee or agent of a license or certificate holder.

(b) The license or certificate holder must have held the license or certificate at the time the act was committed.

Tex. Occ. Code § 1101.601

Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. 6/1/2003.