{"data":{"id":"us-tx/tex.-finance-code-156.502","jurisdiction":"us-tx","citation":"Tex. Finance Code § 156.502","heading":"FUNDING.","body":"Text of section as amended by Acts 2021, 87th Leg., R.S., Ch. 929 (H.B. 3617), Sec. 6\n(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.\n(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fund at the end of each fiscal year.\nWithout reference to the amendment of this subsection, this subsection was repealed by Acts 2021, 87th Leg., R.S., Ch. 963 (S.B. 1900), Sec. 7(3), eff.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.\n(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.\nAdded by Acts 1999, 76th Leg., ch. 1254, Sec. 2, eff. Sept. 1, 1999.\nAmended by:\nActs 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 20, eff. September 1, 2009.\nActs 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 21, eff. September 1, 2009.\nActs 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 29, eff. September 1, 2009.\nActs 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124), Sec. 39, eff. September 1, 2011.\nActs 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004), Sec. 41, eff. September 1, 2013.\nActs 2021, 87th Leg., R.S., Ch. 929 (H.B. 3617), Sec. 6, eff. September 1, 2021.\nActs 2021, 87th Leg., R.S., Ch. 963 (S.B. 1900), Sec. 7(3), eff. September 1, 2021.","path":["FINANCE CODE","TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES","SUBTITLE E. OTHER FINANCIAL BUSINESSES","CHAPTER 156. RESIDENTIAL MORTGAGE LOAN COMPANIES","SUBCHAPTER F. RECOVERY FUND"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.156.htm#156.502","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"0f2bcfb75e67b7caaf993b7f6cdf7423b66b294b47c371f507be1f621ce2c18a","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-156.501","next":"us-tx/tex.-finance-code-156.503"},"notice":"GroundRules: Original legal text. Not legal advice."}