Texas § 2652.004 TRUST FUND ACCOUNT DISBURSEMENTS.

Texas Statutes

§ 2652.004 — TRUST FUND ACCOUNT DISBURSEMENTS.

Texas § 2652.004

Code INInsurance Code

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Bluebook

Tex. Insurance Code Code Ann. § 2652.004 (2026).

Text

Sec. 2652.004. TRUST FUND ACCOUNT DISBURSEMENTS.

(a)An escrow officer may not disburse funds from a trust fund account until good funds related to the transaction have been received and deposited in the account in amounts sufficient to fund any disbursements from the transaction.

(b)An escrow officer is not liable for a violation of this section if the violation:

(1)was not intentional; and

(2)resulted from a bona fide error despite the maintenance of procedures reasonably adopted to avoid the error.

(c)The commissioner shall adopt rules and definitions to implement this section.

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Sec. 2652.004. TRUST FUND ACCOUNT DISBURSEMENTS. (a) An escrow officer may not disburse funds from a trust fund account until good funds related to the transaction have been received and deposited in the account in amounts sufficient to fund any disbursements from the transaction.
(b) An escrow officer is not liable for a violation of this section if the violation:
(1) was not intentional; and
(2) resulted from a bona fide error despite the maintenance of procedures reasonably adopted to avoid the error.
(c) The commissioner shall adopt rules and definitions to implement this section.