Fee Law & Legal Definition

A fee is essentially compensation paid for any particular act, service or labor performed as part of an individual’s official duties or professional service. It is the charge for services rendered. Sometimes a fee is charged along with the price of an object or service to hide its actual price. For example a service fee or surcharge adds to the advertised price of the object or service.

Tex. Agric. Code § 58.053. The Texas Agriculture code Section 58.053 speaks of an application for loan guarantee. In this section the statute states that the Board may charge an application fee for processing an application filed under the section.

§ 58.053. Application for Loan Guarantee

(a) An eligible applicant's documentation shall include the following for the board's review:

(1) the plan, as submitted to the lender, for the applicant's proposed farm or ranch operation or agriculture-related business to be financed that includes a budget for the proposed operation;

(2) a completed application for a loan from a commercial lender on which an eligible applicant has indicated how the loan proceeds will be used to implement the applicant's plan; and

(3) the signed statement of a loan officer of the commercial lender that a loan guarantee is required for approval of the loan application.

(b) The board may charge a reasonable application fee for processing an application filed under this section.