In the event of multiple and valid pending claims against a license holder [licensee] or certificate holder in excess of the limitations in §1102.359, [Texas Occupations Code,] the claims are [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 Inspection Recovery Fund, the actual damages are [shall be] prorated, and no interest, attorney fees, or court costs are [shall be] paid. (2)If, after allocating the actual damages as provided by paragraph (1) of this section, the limitations in §1102.359 of Chapter 1102, [Texas Occupations Code,] interest on actual damages (pre-judgment and post-judgment) are [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 Inspection Recovery Fund, the interest on eligible actual damages are [shall be] prorated, and no other interest, attorney fees, or court costs are [shall be] paid. (3)If, after allocating the actual damages and interest thereon as provided by paragraph (1) and (2) of this section, the limitations in §1102.359 of Chapter 1102, [Texas Occupations Code,] are not reached, other interest, attorney fees, and court costs are [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 Inspection Recovery Fund, the other interest, attorney fees, and court costs are [shall be] prorated.
The agency certifies that legal counsel has
reviewed the proposal and found it to be
within the state agency's
legal authority to adopt.
Filed
with the Office of the Secretary of State on August 25, 2014
TRD-201404060 Kerri Lewis
General Counsel
Texas Real Estate Commission
Earliest possible date of adoption: October 5, 2014
For further information, please call: (512) 936-3092
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