Texas § 156.551 MORTGAGE GRANT FUND.

Texas Statutes

§ 156.551 — MORTGAGE GRANT FUND.

Texas § 156.551

Code FIFinance Code

This text of Texas § 156.551 (MORTGAGE GRANT FUND.) 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. Finance Code Code Ann. § 156.551 (2026).

Text

Sec. 156.551. MORTGAGE GRANT FUND.

(a)The commissioner shall establish, administer, and maintain a mortgage grant fund as provided by this subchapter. The amounts received by the commissioner for deposit in the fund shall be held by the commissioner in trust for carrying out the purposes of the fund.

(b)Subject to Subsection (c), 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 mortgage grant fund at the end of each fiscal year.

(c)The balance of the mortgage grant fund may not at any time exceed $300,000.

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Sec. 156.551. MORTGAGE GRANT FUND. (a) The commissioner shall establish, administer, and maintain a mortgage grant fund as provided by this subchapter. The amounts received by the commissioner for deposit in the fund shall be held by the commissioner in trust for carrying out the purposes of the fund.
(b) Subject to Subsection (c), 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 mortgage grant fund at the end of each fiscal year.
(c) The balance of the mortgage grant fund may not at any time exceed $300,000.