Texas Occupations Code 1101.612 – Subrogation
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(a) The commission is subrogated to all rights of a judgment creditor to the extent of an amount paid from the trust account, and the judgment creditor shall assign to the commission all right, title, and interest in the judgment up to that amount.
(b) The commission has priority for repayment from any subsequent recovery on the judgment.
Terms Used In Texas Occupations Code 1101.612
- Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
(c) The commission shall deposit any amount recovered on the judgment to the credit of the trust account.