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Tex. Occ. Code § 1101.604

MANAGEMENT OF TRUST ACCOUNT

Known as the The Real Estate License Act

The act spans §§ 1101.001 to 1101.806 (164 sections).

Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff

(a) The commission shall hold money credited to the trust account in trust to carry out the purpose of the trust account.

(b) Money credited to the trust account may be invested in the same manner as money of the Employees Retirement System of Texas, except that an investment may not be made that would impair the liquidity necessary to make payments from the trust account as required by this subchapter.

(c) Interest from the investments shall be deposited to the credit of the trust account.

(d) Repealed by Acts 2023, 88th Leg., R.S., Ch. 94 (S.B. 1577), Sec. 28(6), eff. January 1, 2024.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.