Texas § 156.554 DISBURSEMENT FROM FUND.

Texas Statutes

§ 156.554 — DISBURSEMENT FROM FUND.

Texas § 156.554

Code FIFinance Code

This text of Texas § 156.554 (DISBURSEMENT FROM 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. § 156.554 (2026).

Text

Sec. 156.554. DISBURSEMENT FROM FUND.

(a)The commissioner shall approve each disbursement from the mortgage grant fund, which must be for a purpose authorized by Subsection (b).

(b)The commissioner:

(1)may provide grants in an aggregate amount of not more than $100,000 each year to an auxiliary mortgage loan activity company or another nonprofit organization for the purposes of:

(A)providing to consumers financial education relating to mortgage loans; and

(B)providing to other nonprofit organizations training in order for those organizations to provide to consumers financial education relating to mortgage loans;

(2)shall make disbursements from the fund to pay claims made under Section 156.555 that meet the requirements for payment under that section; and

(3)may make disbursements f

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Sec. 156.554. DISBURSEMENT FROM FUND. (a) The commissioner shall approve each disbursement from the mortgage grant fund, which must be for a purpose authorized by Subsection (b).
(b) The commissioner:
(1) may provide grants in an aggregate amount of not more than $100,000 each year to an auxiliary mortgage loan activity company or another nonprofit organization for the purposes of:
(A) providing to consumers financial education relating to mortgage loans; and
(B) providing to other nonprofit organizations training in order for those organizations to provide to consumers financial education relating to mortgage loans;
(2) shall make disbursements from the fund to pay claims made under Section 156.555 that meet the requirements for payment under that section; and
(3) may make disbursements from the fund to provide support for statewide financial education, activities, and programs specifically related to mortgage loans for consumers, including activities and programs described by Section 14.113 (c).

Legislative History

Added by Acts 2021, 87th Leg., R.S., Ch. 929 (H.B. 3617 ), Sec. 7, eff. September 1, 2021. Amended by: Acts 2023, 88th Leg., R.S., Ch. 159 (S.B. 1371 ), Sec. 3, eff. September 1, 2023.