The General Land Office shall charge the seller of property an acquisition fee to offset the costs of evaluating the tract for acquisition. The fee shall be assessed at the time of closing the purchase and shall be 1 1/2% of the purchase price. The board may waive all or a part of this fee.

Source Note: The provisions of this §154.11 adopted to be effective April 2, 1986, 11 TexReg 1392.