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TITLE 7BANKING AND SECURITIES
PART 4DEPARTMENT OF SAVINGS AND MORTGAGE LENDING
CHAPTER 51DEPARTMENT ADMINISTRATION
SUBCHAPTER DRECOVERY FUND
RULE §51.302Claims

(a) Application Required. As provided by Finance Code §156.504, a claimant seeking to recover from the recovery fund must file a sworn written application with the Department which must be made on the current form prescribed by the Commissioner and posted on the Department's website (sml.texas.gov).

(b) Payment of Approved Claims. Upon approval of a claim made on the recovery fund, the Commissioner will issue an order disbursing funds from the recovery fund. The Commissioner will direct Department staff to cause disbursement of the funds after the date upon which such order becomes final and unappealable for purposes of Finance Code §156.504(d), or if the Department's preliminary determination under Finance Code §156.504(c)(2) was disputed and an adjudicative hearing required, for purposes of Government Code Chapter 2001.

(c) Cooperation by Claimant Required. The claimant must cooperate with Department staff's instructions for effectuating disbursement of an approved claim from the recovery fund. Among other things, the claimant must provide such information and complete such documentation required in order to cause the claimant to be a valid payee for purposes of the Texas Comptroller of Public Accounts.


Source Note: The provisions of this §51.302 adopted to be effective July 14, 2022, 47 TexReg 3962

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