Sec. 502.1984. INTEREST ON FEES. (a) A fee required to be sent to the department under this chapter bears interest for the benefit of the state highway fund or the Texas Department of Motor Vehicles fund, as applicable, at an annual rate of 10 percent beginning on the 60th day after the date the county assessor-collector collects the fee.
(b) The department shall audit the registration and transfer fees collected and disbursed by each county assessor-collector and shall determine the exact amount of interest due on any fee not sent to the department.
(c) The state has a claim against a county assessor-collector and the sureties on the assessor-collector's official bond for the amount of interest due on a fee.
Transferred and redesignated from Transportation Code, Section 502.107 by Acts 2011, 82nd Leg., R.S., Ch. 1296 (H.B. 2357), Sec. 119, eff. January 1, 2012.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 1287 (H.B. 2202), Sec. 24, eff. September 1, 2013.
Section: Previous 502.194 502.195 502.196 502.197 502.198 502.1981 502.1983 502.1984 502.1985 502.1986 502.199 502.251 502.252 502.253 502.254 NextLast modified: September 28, 2016