Texas Register
TITLE 22 EXAMINING BOARDS
PART 23TEXAS REAL ESTATE COMMISSION
CHAPTER 539RULES RELATING TO THE RESIDENTIAL SERVICE COMPANY ACT
SUBCHAPTER IFINANCIAL ASSURANCES
RULE §539.82Security
ISSUE 12/01/2017
ACTION Final/Adopted
Preamble No Rule Available
Each residential service company that is required to maintain a security required by Subchapter D of the Act shall confirm, by February 1 of each year, that the security required by §1303.154(b) of the Act is sufficient based on the amount of claims the residential service company paid in this state during the preceding calendar year. If the required amount of security is not sufficient, the residential service company shall take immediate steps to increase the amount of its security to meet the minimum security required and shall give the Commission written notice of the increase and documentation evidencing the increase.

The agency certifies that legal counsel has reviewed the adoption and found it to be a valid exercise of the agency's legal authority.

Filed with the Office of the Secretary of State on November 16, 2017

TRD-201704656

Kerri Lewis

General Counsel

Texas Real Estate Commission

Effective date: January 1, 2018

Proposal publication date: August 25, 2017

For further information, please call: (512) 936-3092

 

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