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Tex. Occupations Code § 1101.601

REAL ESTATE RECOVERY TRUST ACCOUNT

Texas · Texas Occupations Code · Status: effective

Property & Real Estate
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Tex. Occupations Code § 1101.601, REAL ESTATE RECOVERY TRUST ACCOUNT, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/701853
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(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.