reglab/housing_qa huggingface dataset:
TX Fin Code § 394.203 (2021)
2021 Texas Statutes|Finance Code|Title 5 - Protection of Consumers of Financial Services|Chapter 394 - Debtor Assistance|Subchapter C. Consumer Debt Management Services|Section 394.203. Applicability

Sec. 394.203.  APPLICABILITY.  (a)  Except as otherwise provided by this subchapter, this subchapter applies to a provider regardless of whether the provider charges a fee or receives consideration for a service.(b)  The business of providing debt management services is conducted in this state if the debt management services provider solicits or contracts with consumers located in this state.(c)  This subchapter does not apply to:(1)  an attorney licensed to practice in this state, unless the attorney holds the attorney's self out to the public as a provider or is employed, affiliated with, or otherwise working on behalf of a provider;(2)  a title insurance or abstract company employee or agent, or other person legally authorized to engage in escrow business in the state, only while engaged in the escrow business;(3)  a judicial officer or person acting under a court order;(4)  a person who has legal authority under federal or state law to act as a representative payee for a consumer, only to the extent the person is paying bills or other debts on behalf of that consumer;(5)  a person who pays bills or other debts owed by a consumer and on behalf of a consumer, if the money used to make the payments belongs exclusively to the consumer and the person does not initiate any contact with individual creditors of the consumer to compromise a debt, arrange a new payment schedule, or otherwise change the terms of the debt; or(6)  a financial institution, as defined by Section 201.101.(d)  The following are not debt management services for purposes of this subchapter:(1)  an extension of credit, including consolidation or refinance of a loan; and(2)  bankruptcy services provided by an attorney licensed to practice in this state.(e)  This subchapter applies to a person who seeks to evade its applicability by any device, subterfuge, or pretense.|Added by Acts 2005, 79th Leg., Ch. 336 (S.B. 1112), Sec. 1, eff. September 1, 2005.|
TX Fin Code § 394.205 (2021)
2021 Texas Statutes|Finance Code|Title 5 - Protection of Consumers of Financial Services|Chapter 394 - Debtor Assistance|Subchapter C. Consumer Debt Management Services|Section 394.205. Records

Sec. 394.205.  RECORDS.  (a)  A provider shall keep and use books, accounts, and other records that will enable the commissioner to determine if the provider is complying with this subchapter and maintain any other records as required by the commissioner.  The commissioner may examine the records at any reasonable time.  The records must be kept for at least three years after the date of the last service on a consumer's debt management plan.(b)  Each provider shall file a report with the commissioner at each renewal of the provider's registration.  The report must at a minimum disclose in detail and under appropriate headings:(1)  the assets and liabilities of the provider at the beginning and end of the period, if the provider is a nonprofit or tax exempt organization;(2)  the total number of debt management plans the provider has initiated on behalf of consumers in this state during that period; and(3)  records of total and average fees charged to consumers, including all voluntary contributions received from consumers.(c)  The reports must be verified by the oath or affirmation of the owner, manager, president, chief executive officer, or chairman of the board of directors of the provider.(d)  A provider shall file a blank copy of the agreement described in Section 394.209 and blank copies of the written information required in Section 394.208(a) with the commissioner accompanying the initial registration and each renewal of registration.(e)  The commissioner shall make the information provided under this section available to interested parties and to the public.|Added by Acts 2005, 79th Leg., Ch. 336 (S.B. 1112), Sec. 1, eff. September 1, 2005.Amended by: Acts 2007, 80th Leg., R.S., Ch. 48 (S.B. 884), Sec. 2, eff. September 1, 2007.Acts 2019, 86th Leg., R.S., Ch. 767 (H.B. 1442), Sec. 90, eff. September 1, 2019.|
TX Fin Code § 394.206 (2021)
2021 Texas Statutes|Finance Code|Title 5 - Protection of Consumers of Financial Services|Chapter 394 - Debtor Assistance|Subchapter C. Consumer Debt Management Services|Section 394.206. Bond; Insurance

Sec. 394.206.  BOND; INSURANCE.  (a)  A provider shall, at the time the provider files an initial or renewal registration application with the commissioner, file:(1)  a surety bond; or(2)  evidence that the provider maintains an insurance policy in a form approved by the commissioner.(b)  The bond or insurance must:(1)  run concurrently with the period of registration;(2)  be available to pay damages and penalties to consumers directly harmed by a violation of this subchapter;(3)  be in favor of this state for the use of this state and the use of a person who has a cause of action under this subchapter against the provider;(4)  if a bond:(A)  be in an amount equal to the average daily balance of the provider's trust account serving Texas consumers over the six-month period preceding the issuance of the bond, or in the case of an initial application, in an amount determined by the commissioner, but not less than $25,000 or more than $100,000, if the provider receives and holds money paid by or on behalf of a consumer for disbursement to the consumer's creditors; or(B)  be in the amount of $50,000, if the provider does not receive and hold money paid by or on behalf of a consumer for disbursement to the consumer's creditors;(5)  if an insurance policy:(A)  provide coverage for professional liability, employee dishonesty, depositor's forgery, and computer fraud in an amount not less than $100,000;(B)  be issued by a company rated at least "A-" or its equivalent by a nationally recognized rating organization; and(C)  provide for 30 days advance written notice of termination of the policy to be provided to the commissioner;(6)  be issued by a bonding, surety, or insurance company that is authorized to do business in the state; and(7)  be conditioned on the provider and its agents complying with all state and federal laws, including regulations, governing the business of debt management services.(c)  In lieu of a bond or insurance, the finance commission by rule may establish alternative financial requirements to provide substantially equivalent protection to pay damages and penalties to consumers directly harmed by a violation under this subchapter.(d)  The commissioner may adjust the amount of the provider's bond or insurance only when the provider applies for renewal of registration and requests a review of the bond or insurance amount.|Added by Acts 2005, 79th Leg., Ch. 336 (S.B. 1112), Sec. 1, eff. September 1, 2005.Amended by: Acts 2011, 82nd Leg., R.S., Ch. 368 (S.B. 141), Sec. 3, eff. September 1, 2011.|
TX Fin Code § 394.207 (2021)
2021 Texas Statutes|Finance Code|Title 5 - Protection of Consumers of Financial Services|Chapter 394 - Debtor Assistance|Subchapter C. Consumer Debt Management Services|Section 394.207. Advertising

Sec. 394.207.  ADVERTISING.  A provider may not engage in false or deceptive advertising.|Added by Acts 2005, 79th Leg., Ch. 336 (S.B. 1112), Sec. 1, eff. September 1, 2005.|
TX Fin Code § 394.2095 (2021)
2021 Texas Statutes|Finance Code|Title 5 - Protection of Consumers of Financial Services|Chapter 394 - Debtor Assistance|Subchapter C. Consumer Debt Management Services|Section 394.2095. Cancellation of Agreement by Either Provider or Consumer

Sec. 394.2095.  CANCELLATION OF AGREEMENT BY EITHER PROVIDER OR CONSUMER.  If a provider or a consumer cancels a debt management service agreement, the provider shall immediately return to the consumer:(1)  any money of the consumer held in trust by the provider for the consumer's benefit; and(2)  65 percent of any portion of the account set-up fee received under Section 394.210(g)(1) that has not been credited against settlement fees.|Added by Acts 2011, 82nd Leg., R.S., Ch. 368 (S.B. 141), Sec. 6, eff. September 1, 2011.|
TX Fin Code § 394.2101 (2021)
2021 Texas Statutes|Finance Code|Title 5 - Protection of Consumers of Financial Services|Chapter 394 - Debtor Assistance|Subchapter C. Consumer Debt Management Services|Section 394.2101. Adjustment of Amounts of Fees or Other Charges

Sec. 394.2101.  ADJUSTMENT OF AMOUNTS OF FEES OR OTHER CHARGES.  (a)  The commissioner shall compute and publish the dollar amounts of fees or other charges in amounts different from the amounts of fees or other charges specified in Section 394.210 to reflect inflation, as measured by the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics of the United States Department of Labor or, if that index is not available, another index adopted by finance commission rule.  The commissioner shall adopt a base year and adjust the dollar amounts, effective on July 1 of each year, if the change in the index from the base year, as of December 31 of the preceding year, is at least 10 percent.  The dollar amounts must be rounded to the nearest $100, except that the amounts of the fees and other charges specified in Section 394.210 must be rounded to the nearest dollar.(b)  The commissioner shall notify registered providers of any change in dollar amounts made under Subsection (a) and make that information available to the public.|Added by Acts 2011, 82nd Leg., R.S., Ch. 368 (S.B. 141), Sec. 8, eff. September 1, 2011.|
TX Fin Code § 394.211 (2021)
2021 Texas Statutes|Finance Code|Title 5 - Protection of Consumers of Financial Services|Chapter 394 - Debtor Assistance|Subchapter C. Consumer Debt Management Services|Section 394.211. Trust Account

Sec. 394.211.  TRUST ACCOUNT.  (a)  A provider must use a trust account for the management of all money paid by or on behalf of a consumer and received by the provider for disbursement to the consumer's creditor.  A provider may not commingle the money in a trust account established for the benefit of consumers with any operating funds of the provider.  A provider shall exercise due care to appropriately manage the funds in the trust account.(b)  The trust account must at all times be materially in balance with and reconciled to the consumers' accounts.  Failure to maintain that balance is cause for a summary suspension of registration under Section 394.204.(c)  If a trust account does not contain sufficient money to cover the aggregate consumer balances, and the provider has not corrected the deficiency within 48 hours of discovery, the provider shall notify the commissioner by telephone, facsimile, electronic mail, or other method approved by the commissioner, and provide written notice including a description of the remedial action taken.|Added by Acts 2005, 79th Leg., Ch. 336 (S.B. 1112), Sec. 1, eff. September 1, 2005.Amended by: Acts 2011, 82nd Leg., R.S., Ch. 368 (S.B. 141), Sec. 9, eff. September 1, 2011.|
TX Fin Code § 394.212 (2021)
2021 Texas Statutes|Finance Code|Title 5 - Protection of Consumers of Financial Services|Chapter 394 - Debtor Assistance|Subchapter C. Consumer Debt Management Services|Section 394.212. Prohibited Acts and Practices

Sec. 394.212.  PROHIBITED ACTS AND PRACTICES.  (a)  A provider may not:(1)  purchase a debt or obligation of a consumer;(2)  receive or charge a fee in the form of a promissory note or other negotiable instrument other than a check or a draft;(3)  lend money or provide credit to the consumer;(4)  obtain a mortgage or other security interest in property owned by a consumer;(5)  engage in business with an entity described by Section 394.204(c)(3) without prior consent of the commissioner, except that unless denied, consent is considered granted 30 days after the date the provider notifies the commissioner of the intent to engage in business with an organization described by Section 394.204(c)(3);(6)  offer, pay, or give a gift, bonus, premium, reward, or other compensation to a person for entering into a debt management services agreement;(7)  represent that the provider is authorized or competent to furnish legal advice or perform legal services unless supervised by an attorney as required by State Bar of Texas rules;(8)  use an unconscionable means to obtain a contract with a consumer;(9)  engage in an unfair, deceptive, or unconscionable act or practice in connection with a service provided to a consumer; or(10)  require or attempt to require payment of an amount that the provider states, discloses, or advertises to be a voluntary contribution from the consumer.(b)  A provider does not have a claim:(1)  for breach of contract against a consumer who cancels an agreement pursuant to this subchapter; or(2)  in restitution with respect to an agreement that is void under this subchapter.(c)  A provider may not include any of the following provisions in a disclosure related to debt management services or in a debt management services agreement:(1)  a confession of judgment clause;(2)  a waiver of the right to a jury trial, if applicable, in an action brought by or against a consumer;(3)  an assignment of or order for payment of wages or other compensation for services; or(4)  a waiver of a provision of this subchapter.|Added by Acts 2005, 79th Leg., Ch. 336 (S.B. 1112), Sec. 1, eff. September 1, 2005.|
TX Fin Code § 394.213 (2021)
2021 Texas Statutes|Finance Code|Title 5 - Protection of Consumers of Financial Services|Chapter 394 - Debtor Assistance|Subchapter C. Consumer Debt Management Services|Section 394.213. Duties of Proper Management

Sec. 394.213.  DUTIES OF PROPER MANAGEMENT.  A provider has a duty to a consumer who receives debt management services from the provider to ensure that client money held by the provider is managed properly at all times.|Added by Acts 2005, 79th Leg., Ch. 336 (S.B. 1112), Sec. 1, eff. September 1, 2005.Amended by: Acts 2011, 82nd Leg., R.S., Ch. 368 (S.B. 141), Sec. 10, eff. September 1, 2011.|
TX Fin Code § 394.214 (2021)
2021 Texas Statutes|Finance Code|Title 5 - Protection of Consumers of Financial Services|Chapter 394 - Debtor Assistance|Subchapter C. Consumer Debt Management Services|Section 394.214. Additional Enforcement Powers

Sec. 394.214.  ADDITIONAL ENFORCEMENT POWERS.  (a)  The finance commission may adopt rules to carry out this subchapter.(b)  The commissioner may:(1)  investigate the activities of a person subject to this subchapter to determine compliance with this subchapter, including examination of the books, accounts, and records of a provider; and(2)  require or permit a person to file a statement under oath and otherwise subject to the penalties of perjury, as to all the facts and circumstances of the matter to be investigated.(c)  Failure to comply with an investigation under Subsection (b) is grounds for issuance of a cease and desist order.(d)  The commissioner may receive and act on complaints, take action to obtain voluntary compliance with this subchapter, and refer cases to the attorney general for prosecution.(e)  The commissioner may enforce this subchapter and rules adopted under this subchapter by:(1)  ordering the violator to cease and desist from the violation and any similar violations;(2)  ordering the violator to take affirmative action to correct the violation, including the restitution of money or property to a person aggrieved by the violation;(3)  imposing an administrative penalty not to exceed $1,000 for each violation as provided by Subchapter F, Chapter 14; or(4)  rejecting an initial application, refusing to renew a registration, or revoking or suspending a registration as provided by Section 394.204.(f)  In determining the amount of an administrative penalty to be imposed under this section, the commissioner shall consider the seriousness of the violation, the good faith of the violator, the violator's history of previous violations, the deleterious effect of the violation on the public, the assets of the violator, and any other factors the commissioner considers relevant.(g)  The commissioner, on relation of the attorney general at the request of the commissioner, may bring an action in district court to enjoin a person from engaging in an act or continuing a course of action that violates this chapter.  The court may order a preliminary or final injunction.|Added by Acts 2005, 79th Leg., Ch. 336 (S.B. 1112), Sec. 1, eff. September 1, 2005.Amended by: Acts 2019, 86th Leg., R.S., Ch. 767 (H.B. 1442), Sec. 91, eff. September 1, 2019.|
TX Fin Code § 394.215 (2021)
2021 Texas Statutes|Finance Code|Title 5 - Protection of Consumers of Financial Services|Chapter 394 - Debtor Assistance|Subchapter C. Consumer Debt Management Services|Section 394.215. Private Remedies

Sec. 394.215.  PRIVATE REMEDIES.  (a)  An agreement for debt management services between a consumer and a person that is not registered under this subchapter is void.(b)  A consumer is entitled to recover all fees paid by the consumer under a void agreement, costs, and reasonable attorney's fees.(c)  In addition to any other remedies provided by this subchapter, a consumer who is aggrieved by a violation of this subchapter, a rule adopted by the finance commission under this subchapter, or by any unfair, unconscionable, or deceptive act or practice may recover:(1)  actual damages;(2)  punitive damages for acts or practices under a void agreement; and(3)  the costs of the action, including reasonable attorney's fees based on the amount of time involved.(d)  An aggrieved consumer may sue for injunctive and other appropriate equitable relief to stop a person from violating this subchapter.(e)  The remedies provided in this section are not intended to be the exclusive remedies available to a consumer nor must the consumer exhaust any administrative remedies provided under this subchapter or any other applicable law.|Added by Acts 2005, 79th Leg., Ch. 336 (S.B. 1112), Sec. 1, eff. September 1, 2005.|
TX Fin Code § 395.001 (2021)
2021 Texas Statutes|Finance Code|Title 5 - Protection of Consumers of Financial Services|Chapter 395 - Community Reinvestment Work Group|Subchapter A. Composition and Operation|Section 395.001. Composition

Sec. 395.001.  COMPOSITION.  The community reinvestment work group is composed of:(1)  a representative of the comptroller's office, appointed by the comptroller;(2)  a representative of the Texas Department of Housing and Community Affairs, appointed by the executive director of that department;(3)  a representative of the Texas Department of Economic Development, appointed by the executive director of that department;(4)  a representative of the Texas Department of Banking, appointed by the banking commissioner of Texas;  and(5)  a representative of the Texas Department of Insurance, appointed by the commissioner of insurance.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.28(a), eff. Sept. 1, 1999.|
TX Fin Code § 395.002 (2021)
2021 Texas Statutes|Finance Code|Title 5 - Protection of Consumers of Financial Services|Chapter 395 - Community Reinvestment Work Group|Subchapter A. Composition and Operation|Section 395.002. Officers

Sec. 395.002.  OFFICERS.  The representative of the comptroller's office serves as presiding officer of the work group.  The members of the work group may elect other necessary officers.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.28(a), eff. Sept. 1, 1999.|
TX Fin Code § 395.003 (2021)
2021 Texas Statutes|Finance Code|Title 5 - Protection of Consumers of Financial Services|Chapter 395 - Community Reinvestment Work Group|Subchapter A. Composition and Operation|Section 395.003. Meetings

Sec. 395.003.  MEETINGS.  The work group shall meet quarterly and may meet more often at the call of the presiding officer.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.28(a), eff. Sept. 1, 1999.|
TX Fin Code § 395.004 (2021)
2021 Texas Statutes|Finance Code|Title 5 - Protection of Consumers of Financial Services|Chapter 395 - Community Reinvestment Work Group|Subchapter A. Composition and Operation|Section 395.004. Term of Office; Removal

Sec. 395.004.  TERM OF OFFICE;  REMOVAL.  A member of the work group serves a two-year term and may be removed for any reason by the appointing authority.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.28(a), eff. Sept. 1, 1999.|
TX Fin Code § 395.005 (2021)
2021 Texas Statutes|Finance Code|Title 5 - Protection of Consumers of Financial Services|Chapter 395 - Community Reinvestment Work Group|Subchapter A. Composition and Operation|Section 395.005. Expenses; Compensation

Sec. 395.005.  EXPENSES;  COMPENSATION.  The appointing authority is responsible for the expenses of a member's service on the work group.  A member of the work group receives no additional compensation for serving on the work group.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.28(a), eff. Sept. 1, 1999.|
TX Fin Code § 395.101 (2021)
2021 Texas Statutes|Finance Code|Title 5 - Protection of Consumers of Financial Services|Chapter 395 - Community Reinvestment Work Group|Subchapter B. Duties|Section 395.101. General Duties

Sec. 395.101.  GENERAL DUTIES.  The work group shall work in conjunction with the banking community in this state to:(1)  develop statewide community reinvestment strategies using existing investment pools and other investment vehicles to leverage private capital from banks, insurance companies, and other entities for community development in the state;(2)  consult and coordinate with representatives from appropriate federal regulatory agencies, including the Office of the Comptroller of the Currency, the Federal Reserve Board of Governors, the Federal Deposit Insurance Corporation, and the Office of Thrift Supervision;  and(3)  monitor and evaluate the strategies developed under this section.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.28(a), eff. Sept. 1, 1999.|
TX Fin Code § 395.102 (2021)
2021 Texas Statutes|Finance Code|Title 5 - Protection of Consumers of Financial Services|Chapter 395 - Community Reinvestment Work Group|Subchapter B. Duties|Section 395.102. Developing Strategies

Sec. 395.102.  DEVELOPING STRATEGIES.  In developing the strategies required by Section 395.101, the work group shall:(1)  explore innovative qualified investment strategies;(2)  ensure to the extent possible that the strategies encourage financial institutions in this state to lend money to low-income and moderate-income families and individuals in the state;(3)  coordinate its efforts to attract private capital through investments that meet the requirements of the Community Reinvestment Act of 1977 (12 U.S.C. Section 2901 et seq.);  and(4)  ensure to the extent possible that the strategies augment existing Community Reinvestment Act of 1977 programs in the state, including the operation of local community development corporations.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.28(a), eff. Sept. 1, 1999.|