Occupations Code › Title 7 › Chapter 1101 › Subchapter M

Texas Occupations Code § 1101.612

Subrogation

Real Estate Brokers and Sales Agents · Real Estate Recovery Trust Account

(a) The commission is subrogated to all rights of a judgment creditor to the extent of an amount paid from the trust account, and the judgment creditor shall assign to the commission all right, title, and interest in the judgment up to that amount.

(b) The commission has priority for repayment from any subsequent recovery on the judgment.

(c) The commission shall deposit any amount recovered on the judgment to the credit of the trust account.

Official text of the Texas Occupations Code as published by the Texas Legislative Council.

Official source
Legislative history

Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.