reglab/statecodes huggingface dataset:
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter C. Contract for Services › Section 393.203. Issuance of Contract and Other Documents

Sec. 393.203.  ISSUANCE OF CONTRACT AND OTHER DOCUMENTS.  A credit services organization shall give to the consumer, when the document is signed, a copy of the completed contract and any other document the organization requires the consumer to sign.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter C. Contract for Services › Section 393.204. Breach of Contract

Sec. 393.204.  BREACH OF CONTRACT.  The breach by a credit services organization of a contract under this chapter, or of an obligation arising from a contract under this chapter, is a violation of this chapter.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter C. -1. Notice and Disclosure Requirements for Certain Credit Services Organizations › Section 393.221. Definitions

Sec. 393.221.  DEFINITIONS.  In this subchapter:
(1)  "Credit access business" means a credit services organization that obtains for a consumer or assists a consumer in obtaining an extension of consumer credit in the form of a deferred presentment transaction or a motor vehicle title loan.
(2)  "Deferred presentment transaction" has the meaning assigned by Section 341.001.  For purposes of this chapter, this definition does not preclude repayment in more than one installment.  The term is also referred to as a payday loan.
(3)  "Motor vehicle title loan" or "auto title loan" means a loan in which an unencumbered motor vehicle is given as security for the loan.  The term does not include a retail installment transaction under Chapter 348 or another loan made to finance the purchase of a motor vehicle.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1301 (H.B. 2592), Sec. 1, eff. January 1, 2012.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter C. -1. Notice and Disclosure Requirements for Certain Credit Services Organizations › Section 393.222. Posting of Fee Schedule; Notices

Sec. 393.222.  POSTING OF FEE SCHEDULE; NOTICES.  (a)  A credit access business shall post, in a conspicuous location in an area of the business accessible to consumers and on any Internet website, including a social media site, maintained by the credit access business:
(1)  a schedule of all fees to be charged for services performed by the credit access business in connection with deferred presentment transactions and motor vehicle title loans, as applicable;
(2)  a notice of the name and address of the Office of Consumer Credit Commissioner and the telephone number of the office's consumer helpline; and
(3)  a notice that reads as follows:
"An advance of money obtained through a payday loan or auto title loan is not intended to meet long-term financial needs.  A payday loan or auto title loan should only be used to meet immediate short-term cash needs.  Refinancing the loan rather than paying the debt in full when due will require the payment of additional charges."
(b)  The Finance Commission of Texas may adopt rules to implement this section.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1301 (H.B. 2592), Sec. 1, eff. January 1, 2012.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter C. -1. Notice and Disclosure Requirements for Certain Credit Services Organizations › Section 393.223. Consumer Transaction Information

Sec. 393.223.  CONSUMER TRANSACTION INFORMATION.  (a)  Before performing services described by Section 393.221(1), a credit access business must provide to a consumer a disclosure adopted by rule of the Finance Commission of Texas that discloses the following in a form prescribed by the commission:
(1)  the interest, fees, and annual percentage rates, as applicable, to be charged on a deferred presentment transaction or on a motor vehicle title loan, as applicable, in comparison to interest, fees, and annual percentage rates to be charged on other alternative forms of consumer debt;
(2)  the amount of accumulated fees a consumer would incur by renewing or refinancing a deferred presentment transaction or motor vehicle title loan that remains outstanding for a period of two weeks, one month, two months, and three months; and
(3)  information regarding the typical pattern of repayment of deferred presentment transactions and motor vehicle title loans.
(b)  If a credit access business obtains or assists a consumer in obtaining a motor vehicle title loan, the credit access business shall provide to the consumer a notice warning the consumer that in the event of default the consumer may be required to surrender possession of the motor vehicle to the lender or other person to satisfy the consumer's outstanding obligations under the loan.
(c)  The Finance Commission of Texas shall adopt rules to implement this section.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1301 (H.B. 2592), Sec. 1, eff. January 1, 2012.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter C. -1. Notice and Disclosure Requirements for Certain Credit Services Organizations › Section 393.224. Administrative Penalty

Sec. 393.224.  ADMINISTRATIVE PENALTY.  The consumer credit commissioner, in accordance with rules adopted by the Finance Commission of Texas, may assess an administrative penalty against a credit access business that knowingly and wilfully violates this subchapter or a rule adopted under this subchapter in the manner provided by Subchapter F, Chapter 14.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1301 (H.B. 2592), Sec. 1, eff. January 1, 2012.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter D. Prohibitions and Restrictions › Section 393.301. Representative

Sec. 393.301.  REPRESENTATIVE.  In this subchapter, a representative of a credit services organization includes:
(1)  a salesperson, agent, or other representative of the organization;  and
(2)  an independent contractor who sells or attempts to sell the services of the organization.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter D. Prohibitions and Restrictions › Section 393.302. Charge or Receipt of Consideration Before Completion of Services

Sec. 393.302.  CHARGE OR RECEIPT OF CONSIDERATION BEFORE COMPLETION OF SERVICES.  A credit services organization or a representative of the organization may charge or receive from a consumer valuable consideration before completely performing all the services the organization has agreed to perform for the consumer only if the organization has obtained a surety bond for each of its locations or established and maintained a surety account for each of its locations in accordance with Subchapter E.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.43(a), eff. Sept. 1, 1999.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter D. Prohibitions and Restrictions › Section 393.303. Charge or Receipt of Consideration for Referral

Sec. 393.303.  CHARGE OR RECEIPT OF CONSIDERATION FOR REFERRAL.  A credit services organization or a representative of the organization may not charge or receive from a consumer valuable consideration solely for referring the consumer to a retail seller who will or may extend to the consumer credit that is substantially the same as that available to the public.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter D. Prohibitions and Restrictions › Section 393.304. False or Misleading Representation or Statement

Sec. 393.304.  FALSE OR MISLEADING REPRESENTATION OR STATEMENT.  A credit services organization or a representative of the organization may not:
(1)  make or use a false or misleading representation in the offer or sale of the services of the organization, including:
(A)  guaranteeing to "erase bad credit" or words to that effect unless the representation clearly discloses this can be done only if the credit history is inaccurate or obsolete;  and
(B)  guaranteeing an extension of consumer credit regardless of the person's credit history unless the representation clearly discloses the eligibility requirements for obtaining the extension;  or
(2)  make, or advise a consumer to make, a statement relating to a consumer's credit worthiness, credit standing, or credit capacity that the person knows, or should know by the exercise of reasonable care, to be false or misleading to a:
(A)  consumer reporting agency;  or
(B)  person who has extended consumer credit to a consumer or to whom a consumer is applying for an extension of consumer credit.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter D. Prohibitions and Restrictions › Section 393.305. Fraudulent or Deceptive Conduct

Sec. 393.305.  FRAUDULENT OR DECEPTIVE CONDUCT.  A credit services organization or a representative of the organization may not directly or indirectly engage in a fraudulent or deceptive act, practice, or course of business relating to the offer or sale of the services of the organization.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter D. Prohibitions and Restrictions › Section 393.306. Advertising Services Without Filing Registration Statement

Sec. 393.306.  ADVERTISING SERVICES WITHOUT FILING REGISTRATION STATEMENT.  A credit services organization or a representative of the organization may not advertise the services of the organization if the organization has not filed a registration statement required by Subchapter B.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter D. Prohibitions and Restrictions › Section 393.307. Causing Waiver Prohibited

Sec. 393.307.  CAUSING WAIVER PROHIBITED.  A credit services organization may not attempt to cause a consumer to waive a right under this chapter.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter E. Surety Bond; Surety Account › Section 393.401. Surety Bond

Sec. 393.401.  SURETY BOND.  (a)  The surety bond of a credit services organization must be issued by a surety company authorized to do business in this state.
(b)  A copy of the bond shall be filed with the secretary of state.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter E. Surety Bond; Surety Account › Section 393.402. Surety Account

Sec. 393.402.  SURETY ACCOUNT.  (a)  The surety account of a credit services organization must be held in trust at a federally insured bank or savings association located in this state.
(b)  The name of the depository and the trustee and the account number of the surety account must be filed with the secretary of state.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 1999, 76th Leg., ch. 344, Sec. 2.037, eff. Sept. 1, 1999.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter E. Surety Bond; Surety Account › Section 393.403. Amount of Surety Bond or Account

Sec. 393.403.  AMOUNT OF SURETY BOND OR ACCOUNT.  The surety bond or account of a credit services organization must be in the amount of $10,000.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter E. Surety Bond; Surety Account › Section 393.404. Beneficiary of Surety Bond or Account

Sec. 393.404.  BENEFICIARY OF SURETY BOND OR ACCOUNT.  The surety bond or account of a credit services organization must be in favor of:
(1)  this state for the benefit of a person damaged by a violation of this chapter;  and
(2)  a person damaged by a violation of this chapter.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter E. Surety Bond; Surety Account › Section 393.405. Claim Against Surety Bond or Account

Sec. 393.405.  CLAIM AGAINST SURETY BOND OR ACCOUNT.  (a)  A person making a claim against a surety bond or account of a credit services organization for a violation of this chapter may file suit against:
(1)  the organization;  and
(2)  the surety or trustee.
(b)  A surety or trustee is liable only for actual damages, reasonable attorney's fees, and court costs awarded under Section 393.503(a).
(c)  The aggregate liability of a surety or trustee for an organization's violation of this chapter may not exceed the amount of the surety bond or account.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter E. Surety Bond; Surety Account › Section 393.406. Term of Surety Bond or Account

Sec. 393.406.  TERM OF SURETY BOND OR ACCOUNT.  The surety bond or account of a credit services organization must be maintained until the second anniversary of the date on which the organization ceases operations.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter E. Surety Bond; Surety Account › Section 393.407. Payment of Money in Surety Account to Credit Services Organization

Sec. 393.407.  PAYMENT OF MONEY IN SURETY ACCOUNT TO CREDIT SERVICES ORGANIZATION.  (a)  A depository may not pay money in a surety account to the credit services organization that established the account or a representative of the organization unless the organization or representative presents a statement issued by the secretary of state indicating that the requirement of Section 393.406 has been satisfied in relation to the account.
(b)  The secretary of state may conduct an investigation and require information to be submitted as necessary to enforce this section.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter F. Criminal Penalties and Civil Remedies › Section 393.501. Criminal Penalty

Sec. 393.501.  CRIMINAL PENALTY.  (a)  A person commits an offense if the person violates this chapter.
(b)  An offense under this chapter is a Class B misdemeanor.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter F. Criminal Penalties and Civil Remedies › Section 393.502. Injunctive Relief

Sec. 393.502.  INJUNCTIVE RELIEF.  A district court on the application of the attorney general or a consumer may enjoin a violation of this chapter.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter F. Criminal Penalties and Civil Remedies › Section 393.503. Damages

Sec. 393.503.  DAMAGES.  (a)  A consumer injured by a violation of this chapter is entitled to recover:
(1)  actual damages in an amount not less than the amount the consumer paid the credit services organization;
(2)  reasonable attorney's fees;  and
(3)  court costs.
(b)  A consumer who prevails in an action under this section may also be awarded punitive damages.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter F. Criminal Penalties and Civil Remedies › Section 393.504. Deceptive Trade Practice

Sec. 393.504.  DECEPTIVE TRADE PRACTICE.  A violation of this chapter is a deceptive trade practice actionable under Subchapter E, Chapter 17, Business & Commerce Code.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter F. Criminal Penalties and Civil Remedies › Section 393.505. Statute of Limitations

Sec. 393.505.  STATUTE OF LIMITATIONS.  An action under Section 393.503 or 393.504 must be brought not later than the fourth anniversary of the date on which the contract to which the action relates is executed.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter G. Licensing and Regulation of Certain Credit Services Organizations › Section 393.601. Definitions

Sec. 393.601.  DEFINITIONS.  In this subchapter:
(1)  "Commissioner" means the consumer credit commissioner.
(2)  "Credit access business" means a credit services organization that obtains for a consumer or assists a consumer in obtaining an extension of consumer credit in the form of a deferred presentment transaction or a motor vehicle title loan.
(3)  "Deferred presentment transaction" has the meaning assigned by Section 341.001.  For purposes of this chapter, this definition does not preclude repayment in more than one installment.
(4)  "Finance commission" means the Finance Commission of Texas.
(5)  "Motor vehicle title loan" means a loan in which an unencumbered motor vehicle is given as security for the loan.  The term does not include a retail installment transaction under Chapter 348 or another loan made to finance the purchase of a motor vehicle.
(6)  "Office" means the Office of Consumer Credit Commissioner.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1302 (H.B. 2594), Sec. 2, eff. January 1, 2012.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter G. Licensing and Regulation of Certain Credit Services Organizations › Section 393.602. Applicability

Sec. 393.602.  APPLICABILITY.  (a)  This subchapter applies only to a credit services organization that, with respect to a consumer who is located in this state at the time of the transaction, obtains for a consumer or assists a consumer in obtaining an extension of consumer credit in the form of:
(1)  a deferred presentment transaction; or
(2)  a motor vehicle title loan.
(b)  A credit access business may assess fees for its services as agreed to between the parties.  A credit access business fee may be calculated daily, biweekly, monthly, or on another periodic basis. A credit access business is permitted to charge amounts allowed by other laws, as applicable.  A fee may not be charged unless it is disclosed.
(c)  A person may not use a device, subterfuge, or pretense to evade the application of this subchapter.  A lawful transaction governed under another statute, including Title 1, Business & Commerce Code, does not violate this subsection and may not be considered a device, subterfuge, or pretense to evade the application of this subchapter.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1302 (H.B. 2594), Sec. 2, eff. January 1, 2012.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 767 (H.B. 1442), Sec. 82, eff. September 1, 2019.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter G. Licensing and Regulation of Certain Credit Services Organizations › Section 393.603. License Required

Sec. 393.603.  LICENSE REQUIRED.  A credit services organization must obtain a license under this subchapter for each location at which the organization operates as a credit access business in performing services described by Section 393.602(a).
Added by Acts 2011, 82nd Leg., R.S., Ch. 1302 (H.B. 2594), Sec. 2, eff. January 1, 2012.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter G. Licensing and Regulation of Certain Credit Services Organizations › Section 393.604. Application for License

Sec. 393.604.  APPLICATION FOR LICENSE.  (a)  An application for a license under this subchapter must:
(1)  be under oath;
(2)  give the approximate location from which the business is to be conducted;
(3)  identify the business's principal parties in interest;
(4)  contain the name, physical address, and telephone number of all third-party lender organizations with which the business contracts to provide services described by Section 393.602(a) or from which the business arranges extensions of consumer credit described by Section 393.602(a); and
(5)  contain other relevant information that the commissioner requires for the findings required under Section 393.607.
(b)  On the filing of one or more license applications, the applicant shall pay to the commissioner an investigation fee of $200.  Except for good cause as determined by the finance commission, a separate investigation fee is not required for multiple license applications.
(c)  On the filing of each license application, the applicant shall pay to the commissioner a license fee in an amount determined as provided by Section 14.107.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1302 (H.B. 2594), Sec. 2, eff. January 1, 2012.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 767 (H.B. 1442), Sec. 83, eff. September 1, 2019.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter G. Licensing and Regulation of Certain Credit Services Organizations › Section 393.605. Bond

Sec. 393.605.  BOND.  (a)  If the commissioner requires, an applicant for a license under this subchapter shall file with the application a bond that is:
(1)  in an amount satisfactory to the commissioner that does not exceed the lesser of:
(A)  $10,000 for the first license and $10,000 for each additional license; or
(B)  $2,500,000; and
(2)  issued by a surety company qualified to do business as a surety in this state.
(b)  The bond must 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 license holder.
(c)  The bond must be conditioned on:
(1)  the license holder's faithful performance under this subchapter and rules adopted under this subchapter; and
(2)  the payment of all amounts that become due to this state or another person under this subchapter during the period for which the bond is given.
(d)  The aggregate liability of a surety to all persons damaged by the license holder's violation of this subchapter may not exceed the amount of the bond.
(e)  A credit access business that files a bond under this section is not required to file a bond under Subchapter E.
(f)  A credit access business, instead of obtaining a surety bond, may satisfy the requirements of this section by depositing an amount described by Subsection (a)(1) in a surety account held in trust at a federally insured bank or savings association located in this state.  The name of the depository, trustee, and account number of the surety account must be filed with the office.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1302 (H.B. 2594), Sec. 2, eff. January 1, 2012.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 767 (H.B. 1442), Sec. 84, eff. September 1, 2019.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter G. Licensing and Regulation of Certain Credit Services Organizations › Section 393.606. Investigation of Application

Sec. 393.606.  INVESTIGATION OF APPLICATION.  On the filing of an application and a bond, if required under Section 393.605, and on payment of the required fees, the commissioner shall conduct an investigation to determine whether to issue the license.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1302 (H.B. 2594), Sec. 2, eff. January 1, 2012.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter G. Licensing and Regulation of Certain Credit Services Organizations › Section 393.607. Approval or Denial of Application

Sec. 393.607.  APPROVAL OR DENIAL OF APPLICATION.  (a)  The commissioner shall approve the application and issue to the applicant a license to operate as a credit access business for purposes of engaging in the activity to which this subchapter applies if the commissioner finds that:
(1)  the financial responsibility, experience, character, and general fitness of the applicant are sufficient to:
(A)  command the confidence of the public; and
(B)  warrant the belief that the business will be operated lawfully and fairly, within the purposes of this subchapter; and
(2)  the applicant has net assets of at least $25,000 available for the operation of the business as determined in accordance with Section 393.611.
(b)  If the commissioner does not find the eligibility requirements of Subsection (a) have been met, the commissioner shall notify the applicant.
(c)  If an applicant requests a hearing on the application not later than the 30th day after the date of notification under Subsection (b), the applicant is entitled to a hearing not later than the 30th day after the date of the request.
(d)  The commissioner shall approve or deny the application not later than the 30th day after the date of the filing of a completed application with payment of the required fees, or if a hearing is held, after the date of the completion of the hearing on the application.  The commissioner and the applicant may agree to a later date in writing.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1302 (H.B. 2594), Sec. 2, eff. January 1, 2012.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter G. Licensing and Regulation of Certain Credit Services Organizations › Section 393.608. Disposition of Fees on Denial of Application

Sec. 393.608.  DISPOSITION OF FEES ON DENIAL OF APPLICATION.  If the commissioner denies the application, the commissioner shall retain the investigation fee and shall return to the applicant the license fee submitted with the application.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1302 (H.B. 2594), Sec. 2, eff. January 1, 2012.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter G. Licensing and Regulation of Certain Credit Services Organizations › Section 393.6085. License Term

Sec. 393.6085.  LICENSE TERM.  A license issued under this chapter is valid for the period prescribed by finance commission rule adopted under Section 14.112.
Added by Acts 2019, 86th Leg., R.S., Ch. 767 (H.B. 1442), Sec. 85, eff. September 1, 2019.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter G. Licensing and Regulation of Certain Credit Services Organizations › Section 393.609. Name and Place of License

Sec. 393.609.  NAME AND PLACE OF LICENSE.  (a)  A license issued under this subchapter must state:
(1)  the name of the license holder; and
(2)  the address of the office from which the business is to be conducted, except as provided by Subsection (c).
(b)  A license holder may not conduct business under this subchapter under a name other than the name stated on the license.
(c)  A license holder may not conduct business at a location other than the address stated on the license, except that a license holder:
(1)  is not required to have an office in this state; and
(2)  may operate using e-commerce methods, including the Internet.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1302 (H.B. 2594), Sec. 2, eff. January 1, 2012.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter G. Licensing and Regulation of Certain Credit Services Organizations › Section 393.610. License Display

Sec. 393.610.  LICENSE DISPLAY.  A license holder shall display a license at the place of business provided on the license.  With respect to business conducted through the Internet, this requirement may be satisfied by displaying the license on the business's Internet website.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1302 (H.B. 2594), Sec. 2, eff. January 1, 2012.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter G. Licensing and Regulation of Certain Credit Services Organizations › Section 393.611. Minimum Assets for License

Sec. 393.611.  MINIMUM ASSETS FOR LICENSE.  A license holder shall maintain net assets used or readily available for use in conducting the business of each of the offices for which a license is held under this subchapter, in an amount that is not less than the lesser of:
(1)  $25,000 for each office; or
(2)  $2,500,000 in the aggregate.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1302 (H.B. 2594), Sec. 2, eff. January 1, 2012.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter G. Licensing and Regulation of Certain Credit Services Organizations › Section 393.6115. Grounds for Refusal to Renew

Sec. 393.6115.  GROUNDS FOR REFUSAL TO RENEW.  The commissioner may refuse to renew the license of a credit access business who fails to comply with an order issued by the commissioner to enforce this chapter.
Added by Acts 2019, 86th Leg., R.S., Ch. 767 (H.B. 1442), Sec. 85, eff. September 1, 2019.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter G. Licensing and Regulation of Certain Credit Services Organizations › Section 393.612. License Fee

Sec. 393.612.  LICENSE FEE. Not later than the 30th day before the date the license expires, a license holder shall pay to the commissioner for each license held a fee in an amount determined as provided by Section 14.107.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1302 (H.B. 2594), Sec. 2, eff. January 1, 2012.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 767 (H.B. 1442), Sec. 86, eff. September 1, 2019.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter G. Licensing and Regulation of Certain Credit Services Organizations › Section 393.613. Expiration of License on Failure to Pay Fee

Sec. 393.613.  EXPIRATION OF LICENSE ON FAILURE TO PAY FEE. If the fee for a license is not paid before the 16th day after the date on which the written notice of delinquency of payment has been given to the license holder, the license expires on that day.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1302 (H.B. 2594), Sec. 2, eff. January 1, 2012.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 767 (H.B. 1442), Sec. 87, eff. September 1, 2019.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter G. Licensing and Regulation of Certain Credit Services Organizations › Section 393.614. License Suspension or Revocation

Sec. 393.614.  LICENSE SUSPENSION OR REVOCATION.  (a)  After notice and opportunity for a hearing, the commissioner may suspend or revoke a license if the commissioner finds that:
(1)  the license holder failed to pay the license fee, an examination fee, an investigation fee, or another charge imposed by the commissioner under this subchapter;
(2)  the license holder, knowingly or without the exercise of due care, violated this chapter or a rule adopted or order issued under this chapter; or
(3)  a fact or condition exists that, if it had existed or had been known to exist at the time of the original application for the license, clearly would have justified the commissioner's denial of the application.
(b)  If in a three-year period the commissioner suspends or revokes under this section the licenses of five or more credit access businesses owned or controlled by the same person, including a corporation that owns multiple businesses, the commissioner may suspend or revoke the licenses of all credit access businesses owned or controlled by that person.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1302 (H.B. 2594), Sec. 2, eff. January 1, 2012.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 767 (H.B. 1442), Sec. 88, eff. September 1, 2019.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter G. Licensing and Regulation of Certain Credit Services Organizations › Section 393.615. License Suspension or Revocation Filed With Public Records

Sec. 393.615.  LICENSE SUSPENSION OR REVOCATION FILED WITH PUBLIC RECORDS.  The decision of the commissioner on the suspension or revocation of a license and the evidence considered by the commissioner in making the decision shall be filed in the public records of the commissioner.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1302 (H.B. 2594), Sec. 2, eff. January 1, 2012.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter G. Licensing and Regulation of Certain Credit Services Organizations › Section 393.616. Reinstatement of Suspended License; Issuance of New License After Revocation

Sec. 393.616.  REINSTATEMENT OF SUSPENDED LICENSE; ISSUANCE OF NEW LICENSE AFTER REVOCATION.  The commissioner may reinstate a suspended license or issue a new license on application to a person whose license has been revoked if at the time of the reinstatement or issuance no fact or condition exists that clearly would have justified the commissioner's denial of an original application for the license.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1302 (H.B. 2594), Sec. 2, eff. January 1, 2012.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter G. Licensing and Regulation of Certain Credit Services Organizations › Section 393.617. Surrender of License

Sec. 393.617.  SURRENDER OF LICENSE.  A license holder may surrender a license issued under this subchapter by complying with the commissioner's written instructions relating to license surrender.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1302 (H.B. 2594), Sec. 2, eff. January 1, 2012.
Amended by:
Acts 2023, 88th Leg., R.S., Ch. 159 (S.B. 1371), Sec. 30, eff. September 1, 2023.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter G. Licensing and Regulation of Certain Credit Services Organizations › Section 393.618. Effect of License Suspension, Revocation, or Surrender

Sec. 393.618.  EFFECT OF LICENSE SUSPENSION, REVOCATION, OR SURRENDER.  (a)  The suspension, revocation, or surrender of a license issued under this subchapter does not affect the obligation of a contract between the license holder and a consumer entered into before the revocation, suspension, or surrender.
(b)  Surrender of a license does not affect the license holder's civil or criminal liability for an act committed before surrender.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1302 (H.B. 2594), Sec. 2, eff. January 1, 2012.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter G. Licensing and Regulation of Certain Credit Services Organizations › Section 393.619. Moving an Office

Sec. 393.619.  MOVING AN OFFICE.  (a)  A license holder shall give written notice to the commissioner before the 30th day before the date the license holder moves an office from the location provided on the license.
(b)  The commissioner shall amend a license holder's license accordingly.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1302 (H.B. 2594), Sec. 2, eff. January 1, 2012.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter G. Licensing and Regulation of Certain Credit Services Organizations › Section 393.620. Transfer or Assignment of License

Sec. 393.620.  TRANSFER OR ASSIGNMENT OF LICENSE.  A license may be transferred or assigned only with the approval of the commissioner.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1302 (H.B. 2594), Sec. 2, eff. January 1, 2012.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter G. Licensing and Regulation of Certain Credit Services Organizations › Section 393.621. Administration

Sec. 393.621.  ADMINISTRATION.  The office shall administer this subchapter.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1302 (H.B. 2594), Sec. 2, eff. January 1, 2012.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter G. Licensing and Regulation of Certain Credit Services Organizations › Section 393.622. Rules

Sec. 393.622.  RULES.  (a)  The finance commission may:
(1)  adopt rules necessary to enforce and administer this subchapter;
(2)  adopt rules with respect to the quarterly reporting by a credit access business licensed under this subchapter of summary business information relating to extensions of consumer credit described by Section 393.602(a); and
(3)  adopt rules with respect to periodic examination by the office relating to extensions of consumer credit described by Section 393.602(a), including rules related to charges for defraying the reasonable cost of conducting the examinations.
(b)  The finance commission may adopt rules under this section to allow the commissioner to review, as part of a periodic examination, any relevant contracts between the credit access business and the third-party lender organizations with which the credit access business contracts to provide services described by Section 393.602(a) or from which the business arranges extensions of consumer credit described by Section 393.602(a).  A contract or information obtained by the commissioner under this section is considered proprietary and confidential to the respective parties to the contract, and is not subject to disclosure under Chapter 552, Government Code.
(c)  Nothing in Section 393.201(c) or Sections 393.601-393.628 grants authority to the finance commission or the Office of Consumer Credit Commissioner to establish a limit on the fees charged by a credit access business.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1302 (H.B. 2594), Sec. 2, eff. January 1, 2012.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter G. Licensing and Regulation of Certain Credit Services Organizations › Section 393.623. Providing or Advertising Services Without License Prohibited

Sec. 393.623.  PROVIDING OR ADVERTISING SERVICES WITHOUT LICENSE PROHIBITED.  A credit access business or a representative of the business may not provide or advertise the services of the business if the business is not licensed under this subchapter.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1302 (H.B. 2594), Sec. 2, eff. January 1, 2012.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter G. Licensing and Regulation of Certain Credit Services Organizations › Section 393.624. Restrictions on Off-Site Advertising

Sec. 393.624.  RESTRICTIONS ON OFF-SITE ADVERTISING.  (a)  A credit access business may not advertise on the premises of a nursing facility, assisted living facility, group home, intermediate care facility for persons with an intellectual disability, or other similar facility subject to regulation by the Health and Human Services Commission.
(b)  The finance commission may adopt rules to implement this section.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1302 (H.B. 2594), Sec. 2, eff. January 1, 2012.
Amended by:
Acts 2023, 88th Leg., R.S., Ch. 30 (H.B. 446), Sec. 4.01, eff. September 1, 2023.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter G. Licensing and Regulation of Certain Credit Services Organizations › Section 393.625. Military Borrowers

Sec. 393.625.  MILITARY BORROWERS.  An extension of consumer credit described by Section 393.602(a) that is obtained by a credit access business for a member of the United States military or a dependent of a member of the United States military or that the business assisted that person in obtaining must comply with 10 U.S.C. Section 987 and any regulations adopted under that law, to the extent applicable.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1302 (H.B. 2594), Sec. 2, eff. January 1, 2012.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter G. Licensing and Regulation of Certain Credit Services Organizations › Section 393.626. Debt Collection Practices

Sec. 393.626.  DEBT COLLECTION PRACTICES.  A violation of Chapter 392 by a credit access business with respect to an extension of consumer credit described by Section 393.602(a) constitutes a violation of this subchapter.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1302 (H.B. 2594), Sec. 2, eff. January 1, 2012.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 393 - Credit Services Organizations › Subchapter G. Licensing and Regulation of Certain Credit Services Organizations › Section 393.627. Quarterly Report to Commissioner

Sec. 393.627.  QUARTERLY REPORT TO COMMISSIONER.  A credit access business shall file a quarterly report with the commissioner on a form prescribed by the commissioner that provides the following information relating to extensions of consumer credit described by Section 393.602(a) during the preceding quarter:
(1)  the number of consumers for whom the business obtained or assisted in obtaining those extensions of consumer credit;
(2)  the number of those extensions of consumer credit obtained by the business or that the business assisted consumers in obtaining;
(3)  the number of refinancing transactions of the extensions of consumer credit described by Subdivision (2);
(4)  the number of consumers refinancing the extensions of consumer credit described by Subdivision (2);
(5)  the number of consumers refinancing more than once the extensions of consumer credit described by Subdivision (2);
(6)  the average amount of the extensions of consumer credit described by Subdivision (2);
(7)  the total amount of fees charged by the business for the activities described by Subdivision (1);
(8)  the number of vehicles surrendered or repossessed under the terms of an extension of consumer credit in the form of a motor vehicle title loan obtained by the business or that the business assisted a consumer in obtaining;
(9)  the mean, median, and mode of the number of extensions of consumer credit obtained by consumers as a result of entering into the extensions of consumer credit described by Subdivision (2); and
(10)  any related information the commissioner determines necessary.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1302 (H.B. 2594), Sec. 2, eff. January 1, 2012.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 394 - Debtor Assistance › Subchapter A. Debt Counseling and Education › Section 394.001. Duties of Commissioner

Sec. 394.001.  DUTIES OF COMMISSIONER.  The consumer credit commissioner shall provide advice and assistance to:
(1)  encourage the establishment and operation of voluntary nonprofit debt-counseling services for residents of this state;  and
(2)  coordinate, encourage, and aid public and private agencies, organizations and groups, and consumer credit institutions in the development and operation of voluntary education programs to promote the prudent and beneficial use of consumer credit by residents of this state.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Finance Code › Title 5 - Protection of Consumers of Financial Services › Chapter 394 - Debtor Assistance › Subchapter C. Consumer Debt Management Services › Section 394.201. Purpose; Construction

Sec. 394.201.  PURPOSE; CONSTRUCTION.  (a)  The purpose of this subchapter is to protect consumers who contract for services with debt management services providers.
(b)  This subchapter shall be liberally construed to accomplish its purpose.
Added by Acts 2005, 79th Leg., Ch. 336 (S.B. 1112), Sec. 1, eff. September 1, 2005.