Tex. Finance Code § 156.507
SUBROGATION
Texas · Texas Finance Code · Status: effective
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- Citation
- Tex. Finance Code § 156.507, SUBROGATION, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/646367
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Full text
When the commissioner has paid an applicant an amount from the recovery fund under Section 156.504, the commissioner is subrogated to all of the rights of the applicant to the extent of the amount paid. The applicant shall assign all of the applicant's right, title, and interest in any subsequent judgment against the license holder, up to the amount paid by the commissioner. Any amount, including interest, recovered by the commissioner on the assignment shall be deposited to the credit of the fund.