Sec. 1101.655. REVOCATION OF LICENSE OR CERTIFICATE FOR CLAIM ON ACCOUNT

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(a) The commission may revoke a license, approval, or registration issued under this chapter or Chapter 1102 if the commission makes a payment from the real estate recovery trust account to satisfy all or part of a judgment against the license or registration holder.
(b) The commission may probate an order revoking a license under this section.
(c) A person is not eligible for a license or certificate until the person has repaid in full the amount paid from the account for the person, plus interest at the legal rate.

Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003. Amended by: Acts 2005, 79th Leg., Ch. 825 , Sec. 10, eff. September 1, 2005. Acts 2007, 80th Leg., R.S., Ch. 297 , Sec. 10, eff. September 1, 2007.

                    
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