Texas § 1001.404 INTEREST ON REFUND.

Texas Statutes

§ 1001.404 — INTEREST ON REFUND.

Texas § 1001.404

Code EDEducation Code

This text of Texas § 1001.404 (INTEREST ON REFUND.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Education Code Code Ann. § 1001.404 (2026).

Text

Sec. 1001.404. INTEREST ON REFUND.

(a)If a refund is not timely made, the driver training provider shall pay interest on the amount of the refund. Interest begins to accrue on the first day after the expiration of the refund period and ends on the day preceding the date the refund is made.

(b)The department shall establish annually the rate of interest for a refund at a rate sufficient to provide a deterrent to the retention of student money.

(c)The department may except a driver training provider from the payment of interest if the provider makes a good-faith effort to refund tuition, fees, and other charges but is unable to locate the student to whom the refund is owed. On request of the department, the driver training provider shall document the effort to locate a student.

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Sec. 1001.404. INTEREST ON REFUND. (a) If a refund is not timely made, the driver training provider shall pay interest on the amount of the refund. Interest begins to accrue on the first day after the expiration of the refund period and ends on the day preceding the date the refund is made.
(b) The department shall establish annually the rate of interest for a refund at a rate sufficient to provide a deterrent to the retention of student money.
(c) The department may except a driver training provider from the payment of interest if the provider makes a good-faith effort to refund tuition, fees, and other charges but is unable to locate the student to whom the refund is owed. On request of the department, the driver training provider shall document the effort to locate a student.

Legislative History

Added by Acts 2003, 78th Leg., ch. 1276, Sec. 6.012(a), eff. Sept. 1, 2003. Amended by: Acts 2015, 84th Leg., R.S., Ch. 1044 (H.B. 1786 ), Sec. 49, eff. September 1, 2015. Acts 2021, 87th Leg., R.S., Ch. 663 (H.B. 1560 ), Sec. 5.50, eff. September 1, 2021.