Is the legal fund like an errors and omissions insurance policy?

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No. The legal fund is not a substitute for errors-and-omissions insurance. The Texas REALTORS® strongly encourages members to maintain E&O insurance. There are many lawsuits in which a Texas REALTOR® may be involved that are not significant to Texas REALTORS® or the real estate industry as a whole. In fact, the Legal Review Committee recommends that a number of applications be denied each year.

Source: TAR

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