In the event of multiple valid pending claims against a license
holder in excess of the limitations in §1101.610 of the Act,
the claims shall be prorated as follows:
(1) Actual damages shall be allocated first. If the
total of the eligible actual damages of all claims exceeds the maximum
that may be paid from the Real Estate Recovery Trust Account, the
actual damages shall be prorated, and no interest, attorney fees,
or court costs shall be paid.
(2) If, after allocating the actual damages as provided
by paragraph (1) of this section, the limitations in §1101.610
of the Act are not reached, interest on actual damages (pre-judgment
and post-judgment) shall be allocated second. If the total of the
interest on eligible actual damages of all claims exceeds the amount
remaining to be paid from the Real Estate Recovery Trust Account,
the interest on eligible actual damages shall be prorated, and no
other interest, attorney fees, or court costs shall be paid.
(3) If, after allocating the actual damages and interest
thereon as provided by paragraphs (1) and (2) of this section, the
limitations in §1101.610 of the Act are not reached, other interest,
attorney fees, and court costs shall be allocated third. If the total
of the other interest, attorney fees, and court costs of all claims
exceeds the amount remaining to be paid from the Real Estate Recovery
Trust Account, the other interest, attorney fees, and court costs
shall be prorated.
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| Source Note: The provisions of this §535.82 adopted to be effective March 21, 2012, 37 TexReg 1908; amended to be effective January 1, 2015, 39 TexReg 9669; amended to be effective June 11, 2023, 48 TexReg 2948 |
