Texas Occupations Code 1101.602 – Entitlement to Reimbursement
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Terms Used In Texas Occupations Code 1101.602
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
An aggrieved person is entitled to reimbursement from the trust account if a person described by § 1101.601 engages in conduct that requires a license or certificate of registration under this chapter and is described by § 1101.652(a-1)(1) or (b), if the person is a license holder, or § 1101.653(1), (2), (3), or (4), if the person is a certificate holder.