Texas Statutes (Last Updated: January 4, 2014) |
FINANCE CODE |
Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES |
Subtitle E. OTHER FINANCIAL BUSINESSES |
Chapter 156. RESIDENTIAL MORTGAGE LOAN COMPANIES AND RESIDENTIAL MORTGAGE LOAN ORIGINATORS |
Subchapter F. MORTGAGE BROKER RECOVERY FUND |
Sec. 156.503. STATUTE OF LIMITATIONS
Latest version.
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(a) An application for the recovery of actual damages from the recovery fund under Section 156.504 may not be filed after the second anniversary of the date of the alleged act or omission causing the actual damages or the date the act or omission should reasonably have been discovered.
(b) This section does not apply to a subrogation claim brought by the commissioner for recovery of money paid out of the recovery fund.
Added by Acts 1999, 76th Leg., ch. 1254, Sec. 2, eff. Sept. 1, 1999. Amended by: Acts 2009, 81st Leg., R.S., Ch. 1317 , Sec. 22, eff. September 1, 2009. Acts 2011, 82nd Leg., R.S., Ch. 655 , Sec. 40, eff. September 1, 2011.