Texas § 180.058 RECOVERY FUND FEE OR SURETY BOND REQUIREMENT.

Texas Statutes

§ 180.058 — RECOVERY FUND FEE OR SURETY BOND REQUIREMENT.

Texas § 180.058

Code FIFinance Code

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Bluebook

Tex. Finance Code Code Ann. § 180.058 (2026).

Text

Sec. 180.058. RECOVERY FUND FEE OR SURETY BOND REQUIREMENT.

(a)A regulatory official may not issue a residential mortgage loan originator license unless the official determines that the applicant meets the surety bond requirement or has paid a recovery fund fee, as applicable, in accordance with the requirements of the S.A.F.E. Mortgage Licensing Act.

(b)Each regulatory official shall adopt rules requiring an individual licensed as a residential mortgage loan originator to obtain a surety bond or pay a recovery fund fee as the official determines appropriate to comply with the S.A.F.E. Mortgage Licensing Act.

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Sec. 180.058. RECOVERY FUND FEE OR SURETY BOND REQUIREMENT. (a) A regulatory official may not issue a residential mortgage loan originator license unless the official determines that the applicant meets the surety bond requirement or has paid a recovery fund fee, as applicable, in accordance with the requirements of the S.A.F.E. Mortgage Licensing Act.
(b) Each regulatory official shall adopt rules requiring an individual licensed as a residential mortgage loan originator to obtain a surety bond or pay a recovery fund fee as the official determines appropriate to comply with the S.A.F.E. Mortgage Licensing Act.