The General Land Office shall charge a trade fee to participants involved in a land trade of permanent school fund property with the School Land Board. The fee shall be assessed at the time of closing the transaction and shall be 1 1/2% of the appraised value of the particular state tract acquired by the participant in the trade. The School Land Board may waive all or a part of this fee.

Source Note: The provisions of this §154.21 adopted to be effective April 2, 1986, 11 TexReg 1392.