Texas § 502.1984 INTEREST ON FEES.

Texas Statutes

§ 502.1984 — INTEREST ON FEES.

Texas § 502.1984

Code TNTransportation Code

This text of Texas § 502.1984 (INTEREST ON FEES.) 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. Transportation Code Code Ann. § 502.1984 (2026).

Text

Sec. 502.1984. INTEREST ON FEES.

(a)A fee required to be sent to the department under this chapter bears interest for the benefit of the state highway fund or the Texas Department of Motor Vehicles fund, as applicable, at an annual rate of 10 percent beginning on the 60th day after the date the county assessor-collector collects the fee.

(b)The department shall audit the registration and transfer fees collected and disbursed by each county assessor-collector and shall determine the exact amount of interest due on any fee not sent to the department.

(c)The state has a claim against a county assessor-collector and the sureties on the assessor-collector's official bond for the amount of interest due on a fee. Transferred and redesignated from Transportation Code, Section 502.107 by Acts 20

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Sec. 502.1984. INTEREST ON FEES. (a) A fee required to be sent to the department under this chapter bears interest for the benefit of the state highway fund or the Texas Department of Motor Vehicles fund, as applicable, at an annual rate of 10 percent beginning on the 60th day after the date the county assessor-collector collects the fee.
(b) The department shall audit the registration and transfer fees collected and disbursed by each county assessor-collector and shall determine the exact amount of interest due on any fee not sent to the department.
(c) The state has a claim against a county assessor-collector and the sureties on the assessor-collector's official bond for the amount of interest due on a fee.
Transferred and redesignated from Transportation Code, Section 502.107 by Acts 2011, 82nd Leg., R.S., Ch. 1296 (H.B. 2357 ), Sec. 119, eff. January 1, 2012.