reglab/statecodes huggingface dataset:
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 351 - Property Tax Lenders › Subchapter B. Authorized Activities; License › Section 351.054. Notice to Taxing Unit

Sec. 351.054.  NOTICE TO TAXING UNIT.  (a)  A transferee of a tax lien must include with the sworn document executed by the borrower and filed with the collector of a taxing unit under Section 32.06(a-1), Tax Code, the information required by this section.
(b)  If the transferee is licensed under this chapter, the transferee shall include with the filing the licensee's license number assigned by the commissioner.
(c)  If the transferee is exempt from this chapter under Section 351.051(c)(1), the transferee shall include with the filing an affidavit stating the entity's type of organization that qualifies it for the exemption, any charter number assigned by the governmental authority that issued the entity's charter, and the address of the entity's main office.
(d)  If the transferee is exempt from this chapter under Section 351.051(c)(2), the transferee shall include a certificate issued by the commissioner indicating the entity's exemption.  The commissioner shall establish procedures for issuance of a certificate under this subsection, application requirements, and requirements regarding information that must be submitted with an application.
Added by Acts 2007, 80th Leg., R.S., Ch. 1220 (H.B. 2138), Sec. 1, eff. September 1, 2007.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 206 (S.B. 247), Sec. 5, eff. May 29, 2013.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 351 - Property Tax Lenders › Subchapter C. Application for and Issuance of License › Section 351.101. Application Requirements

Sec. 351.101.  APPLICATION REQUIREMENTS.  (a)  The application for a license under this chapter must:
(1)  be under oath;
(2)  give the approximate location from which business is to be conducted;
(3)  identify the business's principal parties in interest;  and
(4)  contain other relevant information that the commissioner requires for the findings required under Section 351.104.
(b)  On the filing of one or more license applications, the applicant shall pay to the commissioner an investigation fee not to exceed $200.
(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 2007, 80th Leg., R.S., Ch. 1220 (H.B. 2138), Sec. 1, eff. September 1, 2007.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 767 (H.B. 1442), Sec. 46, eff. September 1, 2019.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 351 - Property Tax Lenders › Subchapter C. Application for and Issuance of License › Section 351.102. Bond

Sec. 351.102.  BOND.  (a)  If the commissioner requires, an applicant for a license under this chapter shall file with the application a bond that is:
(1)  in an amount not to exceed the total of:
(A)  $50,000 for the first license;  and
(B)  $10,000 for each additional license;
(2)  satisfactory to the commissioner;  and
(3)  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 chapter against the license holder.
(c)  The bond must be conditioned on:
(1)  the license holder's faithful performance under this chapter and rules adopted under this chapter; and
(2)  the payment of all amounts that become due to the state or another person under this chapter 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 chapter may not exceed the amount of the bond.
(e)  A license holder engaged in the business of making, transacting, or negotiating a property tax loan for a principal dwelling must meet the surety bond or recovery fund fee requirement, as applicable, of the holder's residential mortgage loan originator under Section 180.058.
Added by Acts 2007, 80th Leg., R.S., Ch. 1220 (H.B. 2138), Sec. 1, eff. September 1, 2007.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 1104 (H.B. 10), Sec. 18, eff. June 19, 2009.
Acts 2019, 86th Leg., R.S., Ch. 767 (H.B. 1442), Sec. 47, eff. September 1, 2019.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 351 - Property Tax Lenders › Subchapter C. Application for and Issuance of License › Section 351.103. Investigation of Application

Sec. 351.103.  INVESTIGATION OF APPLICATION.  On the filing of an application and, if required, a bond, and on payment of the required fees, the commissioner shall conduct an investigation to determine whether to issue the license.
Added by Acts 2007, 80th Leg., R.S., Ch. 1220 (H.B. 2138), Sec. 1, eff. September 1, 2007.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 351 - Property Tax Lenders › Subchapter C. Application for and Issuance of License › Section 351.104. Approval or Denial of Application

Sec. 351.104.  APPROVAL OR DENIAL OF APPLICATION.  (a)  The commissioner shall approve the application and issue to the applicant a license to make property tax loans under this chapter 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 chapter;  and
(2)  the applicant has net assets of at least $25,000 available for the operation of the business.
(b)  If the commissioner does not find that the eligibility requirements of Subsection (a) are 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 60th day after the date of the request.
(d)  The commissioner shall approve or deny the application not later than the 60th 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 2007, 80th Leg., R.S., Ch. 1220 (H.B. 2138), Sec. 1, eff. September 1, 2007.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 351 - Property Tax Lenders › Subchapter C. Application for and Issuance of License › Section 351.105. Disposition of Fees on Denial of Application

Sec. 351.105.  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 2007, 80th Leg., R.S., Ch. 1220 (H.B. 2138), Sec. 1, eff. September 1, 2007.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 351 - Property Tax Lenders › Subchapter C. Application for and Issuance of License › Section 351.106. License Term

Sec. 351.106.  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. 48, eff. September 1, 2019.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 351 - Property Tax Lenders › Subchapter D. License › Section 351.151. Name and Place on License

Sec. 351.151.  NAME AND PLACE ON LICENSE.  (a)  A license must state:
(1)  the name of the license holder;  and
(2)  the address of the office from which the business is to be conducted.
(b)  A license holder may not conduct business under this chapter under a name or at a place of business in this state other than the name or office stated on the license.
Added by Acts 2007, 80th Leg., R.S., Ch. 1220 (H.B. 2138), Sec. 1, eff. September 1, 2007.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 351 - Property Tax Lenders › Subchapter D. License › Section 351.152. License Display

Sec. 351.152.  LICENSE DISPLAY.  A license holder shall display a license at the place of business provided on the license.
Added by Acts 2007, 80th Leg., R.S., Ch. 1220 (H.B. 2138), Sec. 1, eff. September 1, 2007.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 351 - Property Tax Lenders › Subchapter D. License › Section 351.153. Minimum Assets for License

Sec. 351.153.  MINIMUM ASSETS FOR LICENSE.  A license holder shall maintain for each office for which a license is held net assets of at least $25,000 that are used or readily available for use in conducting the business of that office.
Added by Acts 2007, 80th Leg., R.S., Ch. 1220 (H.B. 2138), Sec. 1, eff. September 1, 2007.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 351 - Property Tax Lenders › Subchapter D. License › Section 351.1535. Grounds for Refusal to Renew

Sec. 351.1535.  GROUNDS FOR REFUSAL TO RENEW.  The commissioner may refuse to renew the license of a person 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. 49, eff. September 1, 2019.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 351 - Property Tax Lenders › Subchapter D. License › Section 351.154. License Fee

Sec. 351.154.  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 2007, 80th Leg., R.S., Ch. 1220 (H.B. 2138), Sec. 1, eff. September 1, 2007.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 767 (H.B. 1442), Sec. 50, eff. September 1, 2019.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 351 - Property Tax Lenders › Subchapter D. License › Section 351.155. Expiration of License on Failure to Pay Fee

Sec. 351.155.  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 2007, 80th Leg., R.S., Ch. 1220 (H.B. 2138), Sec. 1, eff. September 1, 2007.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 767 (H.B. 1442), Sec. 51, eff. September 1, 2019.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 351 - Property Tax Lenders › Subchapter D. License › Section 351.156. License Suspension or Revocation

Sec. 351.156.  LICENSE SUSPENSION OR REVOCATION.  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 chapter;
(2)  the license holder, knowingly or without the exercise of due care, violated this chapter or Section 32.06 or 32.065, Tax Code, or a rule adopted or an order issued under this chapter or Section 32.06 or 32.065, Tax Code;
(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; or
(4)  the license holder has failed to ensure that an individual acting as a residential mortgage loan originator, as defined by Section 180.002, in the making, transacting, or negotiating of a property tax loan for a principal dwelling is licensed under this chapter in accordance with Section 351.0515.
Added by Acts 2007, 80th Leg., R.S., Ch. 1220 (H.B. 2138), Sec. 1, eff. September 1, 2007.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 1104 (H.B. 10), Sec. 19, eff. June 19, 2009.
Acts 2019, 86th Leg., R.S., Ch. 767 (H.B. 1442), Sec. 52, eff. September 1, 2019.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 351 - Property Tax Lenders › Subchapter D. License › Section 351.157. Corporate Charter Forfeiture

Sec. 351.157.  CORPORATE CHARTER FORFEITURE.  (a)  A license holder who violates this chapter is subject to revocation of the holder's license and, if the license holder is a corporation, forfeiture of its charter.
(b)  When the attorney general is notified of a violation of this chapter and revocation of a license, the attorney general shall file suit in a district court in Travis County, if the license holder is a corporation, for forfeiture of the license holder's charter.
Added by Acts 2007, 80th Leg., R.S., Ch. 1220 (H.B. 2138), Sec. 1, eff. September 1, 2007.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 351 - Property Tax Lenders › Subchapter D. License › Section 351.158. License Suspension or Revocation Filed With Public Records

Sec. 351.158.  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 2007, 80th Leg., R.S., Ch. 1220 (H.B. 2138), Sec. 1, eff. September 1, 2007.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 351 - Property Tax Lenders › Subchapter D. License › Section 351.159. Reinstatement of Suspended License; Issuance of New License After Revocation

Sec. 351.159.  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 2007, 80th Leg., R.S., Ch. 1220 (H.B. 2138), Sec. 1, eff. September 1, 2007.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 351 - Property Tax Lenders › Subchapter D. License › Section 351.160. Surrender of License

Sec. 351.160.  SURRENDER OF LICENSE.  A license holder may surrender a license issued under this chapter by complying with the commissioner's written instructions relating to license surrender.
Added by Acts 2007, 80th Leg., R.S., Ch. 1220 (H.B. 2138), Sec. 1, eff. September 1, 2007.
Amended by:
Acts 2023, 88th Leg., R.S., Ch. 159 (S.B. 1371), Sec. 23, eff. September 1, 2023.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 351 - Property Tax Lenders › Subchapter D. License › Section 351.161. Effect of License Suspension, Revocation, or Surrender

Sec. 351.161.  EFFECT OF LICENSE SUSPENSION, REVOCATION, OR SURRENDER.  (a)  The suspension, revocation, or surrender of a license issued under this chapter does not affect the obligation of a contract between the license holder and a debtor 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 2007, 80th Leg., R.S., Ch. 1220 (H.B. 2138), Sec. 1, eff. September 1, 2007.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 351 - Property Tax Lenders › Subchapter D. License › Section 351.162. Moving an Office

Sec. 351.162.  MOVING AN OFFICE.  (a)  A license holder shall give written notice to the commissioner before the 30th day preceding 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 2007, 80th Leg., R.S., Ch. 1220 (H.B. 2138), Sec. 1, eff. September 1, 2007.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 351 - Property Tax Lenders › Subchapter D. License › Section 351.163. Transfer or Assignment of License

Sec. 351.163.  TRANSFER OR ASSIGNMENT OF LICENSE.  A license may be transferred or assigned only with the approval of the commissioner.
Added by Acts 2007, 80th Leg., R.S., Ch. 1220 (H.B. 2138), Sec. 1, eff. September 1, 2007.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 351 - Property Tax Lenders › Subchapter D. License › Section 351.164. Reporting Requirement

Sec. 351.164.  REPORTING REQUIREMENT.  (a)  Each year, a license holder shall file with the commissioner a report that contains relevant information concerning its transactions conducted under this chapter.
(b)  A report under this section must be:
(1)  under oath; and
(2)  in the form prescribed by the commissioner.
(c)  A report under this section is confidential.
(d)  Annually the commissioner shall prepare and publish a consolidated analysis and recapitulation of reports filed under this section.
Added by Acts 2007, 80th Leg., R.S., Ch. 1220 (H.B. 2138), Sec. 1, eff. September 1, 2007.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 352 - Tax Refund Anticipation Loans › Section 352.001. Definitions

Sec. 352.001.  DEFINITIONS.  In this chapter:
(1)  "Borrower" means an individual who receives the proceeds of a refund anticipation loan.
(2)  "Facilitator" means a person who processes, receives, or accepts for delivery an application for a refund anticipation loan, delivers a check in payment of refund anticipation loan proceeds, or in any other manner acts to allow the making of a refund anticipation loan.
(3)  "Lender" means a person who extends credit to a borrower in the form of a refund anticipation loan.
(4)  "Refund anticipation loan" means a loan borrowed by a taxpayer based on the taxpayer's anticipated federal income tax refund.
(5)  "Refund anticipation loan fee" means a fee imposed or other consideration required by the facilitator or the lender for a refund anticipation loan.  The term does not include a fee usually imposed or other consideration usually required by the facilitator in the ordinary course of business for services not related to the making of loans, including a fee imposed for tax return preparation or for the electronic filing of a tax return.
Added by Acts 2007, 80th Leg., R.S., Ch. 135 (H.B. 1344), Sec. 1, eff. September 1, 2007.
Renumbered from Finance Code, Section 351.001 by Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969), Sec. 27.001(17), eff. September 1, 2009.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 352 - Tax Refund Anticipation Loans › Section 352.002. Restriction on Acting as Facilitator

Sec. 352.002.  RESTRICTION ON ACTING AS FACILITATOR.  (a)  A person may not, individually or in conjunction or cooperation with another person, act as a facilitator unless the person is:
(1)  engaged in the business of preparing tax returns, or employed by a person engaged in the business of preparing tax returns;
(2)  primarily involved in financial services or tax preparations;
(3)  authorized by the Internal Revenue Service as an e-file provider; and
(4)  registered with the commissioner as a facilitator under Section 352.003.
(b)  This section does not apply to:
(1)  a bank, thrift, savings association, industrial bank, or credit union operating under the laws of the United States or this state;
(2)  an affiliate that is a servicer of a person described by Subdivision (1) operating under the name of that person; or
(3)  any person who acts solely as an intermediary and does not interact directly with a taxpayer in the making of the refund anticipation loan.
Added by Acts 2007, 80th Leg., R.S., Ch. 135 (H.B. 1344), Sec. 1, eff. September 1, 2007.
Renumbered from Finance Code, Section 351.002 by Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969), Sec. 27.001(17), eff. September 1, 2009.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969), Sec. 27.002(4), eff. September 1, 2009.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 352 - Tax Refund Anticipation Loans › Section 352.003. Registration of Facilitators

Sec. 352.003.  REGISTRATION OF FACILITATORS.  (a)  To register as a facilitator, a person must provide to the commissioner:
(1)  a list of each location in this state at which e-file providers authorized by the Internal Revenue Service file tax returns on behalf of borrowers for whom the facilitator acts to allow the making of a refund anticipation loan; and
(2)  a processing fee for each location included on the list furnished under Subdivision (1).
(a-1)  A registration issued under this section is valid for the period prescribed by finance commission rule adopted under Section 14.112.
(b)  The commissioner shall prescribe the processing fee in an amount necessary to cover the costs of administering this section.
(c)  The finance commission by rule shall establish a deadline for the submission of the information and fee required by Subsection (a) for initial issuance and renewal of registrations under this section.
(c-1)  After the applicable deadline for initial or renewal registrations, a facilitator may amend the registration required under Subsection (a) to reflect any change in the information provided by the registration.
(d)  The commissioner shall make available to the public a list of facilitators registered under this section.
(e)  The commissioner may prescribe the registration form.
(f)  The commissioner may refuse to renew the registration of a person who fails to comply with an order issued by the commissioner to enforce this chapter.
Added by Acts 2007, 80th Leg., R.S., Ch. 135 (H.B. 1344), Sec. 1, eff. September 1, 2007.
Renumbered from Finance Code, Section 351.003 by Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969), Sec. 27.001(17), eff. September 1, 2009.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 767 (H.B. 1442), Sec. 53, eff. September 1, 2019.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 352 - Tax Refund Anticipation Loans › Section 352.005. Investigation by Commissioner

Sec. 352.005.  INVESTIGATION BY COMMISSIONER.  The commissioner shall:
(1)  monitor the operations of a facilitator to ensure compliance with this chapter; and
(2)  receive and investigate complaints against a facilitator or a person acting as a facilitator.
Added by Acts 2007, 80th Leg., R.S., Ch. 135 (H.B. 1344), Sec. 1, eff. September 1, 2007.
Renumbered from Finance Code, Section 351.005 by Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969), Sec. 27.001(17), eff. September 1, 2009.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 352 - Tax Refund Anticipation Loans › Section 352.006. Revocation of Registration

Sec. 352.006.  REVOCATION OF REGISTRATION.  (a)  The commissioner may revoke the registration of a facilitator if the commissioner concludes that the facilitator has violated this chapter.  The commissioner shall recite the basis of the decision in an order revoking the registration.
(b)  If the commissioner proposes to revoke a registration, the facilitator is entitled to notice and an opportunity for a hearing before the commissioner or a hearings officer, who shall propose a decision to the commissioner. The commissioner or hearings officer shall prescribe the time and place of the hearing if the facilitator makes a written request for a hearing not later than the 30th day after the date on which the order of revocation is served. The hearing is governed by Chapter 2001, Government Code.
(c)  A facilitator aggrieved by a ruling, order, or decision of the commissioner is entitled to appeal to a district court in the county in which the hearing was held.  An appeal under this subsection is governed by Chapter 2001, Government Code.
Added by Acts 2007, 80th Leg., R.S., Ch. 135 (H.B. 1344), Sec. 1, eff. September 1, 2007.
Renumbered from Finance Code, Section 351.006 by Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969), Sec. 27.001(17), eff. September 1, 2009.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 767 (H.B. 1442), Sec. 54, eff. September 1, 2019.
Acts 2023, 88th Leg., R.S., Ch. 159 (S.B. 1371), Sec. 24, eff. September 1, 2023.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 352 - Tax Refund Anticipation Loans › Section 352.007. Administrative Penalty

Sec. 352.007.  ADMINISTRATIVE PENALTY.  The commissioner may assess an administrative penalty of $500 against a person for each knowing and wilful violation of this chapter.
Added by Acts 2007, 80th Leg., R.S., Ch. 135 (H.B. 1344), Sec. 1, eff. September 1, 2007.
Renumbered from Finance Code, Section 351.007 by Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969), Sec. 27.001(17), eff. September 1, 2009.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 352 - Tax Refund Anticipation Loans › Section 352.008. Preemption of Local Ordinance

Sec. 352.008.  PREEMPTION OF LOCAL ORDINANCE.  This chapter preempts a local ordinance or rule regulating refund anticipation loans.
Added by Acts 2007, 80th Leg., R.S., Ch. 135 (H.B. 1344), Sec. 1, eff. September 1, 2007.
Renumbered from Finance Code, Section 351.008 by Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969), Sec. 27.001(17), eff. September 1, 2009.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 352 - Tax Refund Anticipation Loans › Section 352.009. Applicability of Chapter

Sec. 352.009.  APPLICABILITY OF CHAPTER.  This chapter applies to a refund anticipation loan that is extended to a person who is located in this state at the time the loan is made.
Added by Acts 2019, 86th Leg., R.S., Ch. 767 (H.B. 1442), Sec. 55, eff. September 1, 2019.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 353 - Commercial Motor Vehicle Installment Sales › Subchapter A. General Provisions › Section 353.002. Presumption Regarding Noncommercial Vehicles; Exception

Sec. 353.002.  PRESUMPTION REGARDING NONCOMMERCIAL VEHICLES; EXCEPTION.  (a)  A motor vehicle that is not described by Section 353.001(1)(A), (B), or (C) or a motor vehicle that is of a type typically used for personal, family, or household use, as determined by finance commission rule, is presumed not to be a commercial vehicle.
(b)  Notwithstanding Subsection (a), if a retail buyer represents in writing that a motor vehicle is not for personal, family, or household use, or that the vehicle is for commercial use, a retail seller or holder may rely on that representation unless the retail seller or holder, as applicable, has actual knowledge that the representation is not true.
Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 353 - Commercial Motor Vehicle Installment Sales › Subchapter A. General Provisions › Section 353.003. Bailment or Lease as Retail Installment Transaction

Sec. 353.003.  BAILMENT OR LEASE AS RETAIL INSTALLMENT TRANSACTION.  (a)  A bailment or lease of a commercial vehicle is a retail installment transaction if the bailee or lessee:
(1)  contracts to pay as compensation for use of the vehicle an amount that is substantially equal to or exceeds the value of the vehicle; and
(2)  on full compliance with the bailment or lease is bound to become the owner or, for no or nominal additional consideration, has the option to become the owner of the vehicle.
(b)  An agreement for the lease of a commercial vehicle does not create a retail installment transaction by merely providing that the rental price is permitted or required to be adjusted under the agreement as determined by the amount realized on the sale or other disposition of the vehicle, as provided by Section 501.112, Transportation Code.
Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 353 - Commercial Motor Vehicle Installment Sales › Subchapter A. General Provisions › Section 353.004. Classification as Retail Installment Transaction Unaffected

Sec. 353.004.  CLASSIFICATION AS RETAIL INSTALLMENT TRANSACTION UNAFFECTED.  A transaction is not excluded as a retail installment transaction because:
(1)  the retail seller arranges to transfer the retail buyer's obligation;
(2)  the amount of any charge in the transaction is determined by reference to a chart or other information furnished by a financing institution;
(3)  a form for all or part of the retail installment contract is furnished by a financing institution; or
(4)  the credit standing of the retail buyer is evaluated by a financing institution.
Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 353 - Commercial Motor Vehicle Installment Sales › Subchapter A. General Provisions › Section 353.005. Cash Price

Sec. 353.005.  CASH PRICE.  (a)  The cash price is the price at which the retail seller offers in the ordinary course of business to sell for cash the goods or services that are subject to the transaction.  An advertised price does not necessarily establish a cash price.
(b)  The cash price does not include any finance charge.
(c)  At the retail seller's option, the cash price may include:
(1)  the price of accessories;
(2)  the price of services related to the sale;
(3)  the price of service contracts;
(4)  taxes; and
(5)  fees for license, title, and registration.
Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 353 - Commercial Motor Vehicle Installment Sales › Subchapter A. General Provisions › Section 353.006. Itemized Charge

Sec. 353.006.  ITEMIZED CHARGE.  An amount in a retail installment contract is an itemized charge if the amount is not included in the cash price and is the amount of:
(1)  fees for registration, certificate of title, and license and any additional registration fees charged by a deputy as authorized by rules adopted under Section 520.0071, Transportation Code;
(2)  any taxes;
(3)  fees or charges prescribed by law and connected with the sale or inspection of the commercial vehicle;
(4)  charges authorized for insurance, service contracts, and warranties by Subchapter C; and
(5)  advances or payments authorized under Section 353.402(b) or (c) made by the retail seller to or for the benefit of the retail buyer.
Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 1135 (H.B. 2741), Sec. 2, eff. September 1, 2013.
Acts 2013, 83rd Leg., R.S., Ch. 1287 (H.B. 2202), Sec. 3, eff. September 1, 2013.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 353 - Commercial Motor Vehicle Installment Sales › Subchapter A. General Provisions › Section 353.007. Additional Charges Permitted

Sec. 353.007.   ADDITIONAL CHARGES PERMITTED.  (a)  In addition to the amounts allowed under Sections 353.005 and 353.006, the following amounts may be included as an itemized charge or in the cash price in a retail installment contract for a commercial vehicle:
(1)  any fees prescribed by law;
(2)  any amounts charged by a titling or registration service relating to the sale;
(3)  any other amount agreed to by the retail buyer and retail seller, including amounts payable to the retail seller or another person for the provision of goods or services relating to:
(A)  the commercial vehicle;
(B)  the sale or use of the commercial vehicle; or
(C)  the retail buyer's business in which the commercial vehicle will be used; and
(4)  an amount paid to the retail seller or other person as consideration for a debt cancellation agreement.
(b)  If a charge for a debt cancellation agreement is included in the contract, the contract and debt cancellation agreement must each conspicuously disclose that the debt cancellation agreement is optional.
(c)  Notwithstanding any other law, a charge for a debt cancellation agreement is not a charge for insurance, and the sale, provision, or waiving of a balance owed or other action relating to a debt cancellation agreement is not considered insurance or engaging in the business of insurance.
Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 353 - Commercial Motor Vehicle Installment Sales › Subchapter A. General Provisions › Section 353.008. Principal Balance; Inclusion of Documentary Fee

Sec. 353.008.  PRINCIPAL BALANCE; INCLUSION OF DOCUMENTARY FEE.  (a)  The principal balance under a retail installment contract is computed by:
(1)  adding:
(A)  the cash price of the commercial vehicle;
(B)  each amount included in the retail installment contract for an itemized charge; and
(C)  subject to Subsection (c), a documentary fee for services rendered for or on behalf of the retail buyer in handling and processing documents relating to the sale of the commercial vehicle; and
(2)  subtracting from the results under Subdivision (1) the amount of the retail buyer's down payment in money, goods, or both.
(b)  The computation of the principal balance may include an amount authorized under Section 353.402(b).
(c)  For a documentary fee to be included in the principal balance of a retail installment contract:
(1)  the retail seller must charge the documentary fee to cash buyers and credit buyers; and
(2)  the documentary fee may not exceed an amount agreed to in writing by the retail seller and retail buyer.
Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 353 - Commercial Motor Vehicle Installment Sales › Subchapter A. General Provisions › Section 353.009. Applicability of Chapter

Sec. 353.009.  APPLICABILITY OF CHAPTER.  (a)  Except as provided by this section, this chapter applies to a retail installment transaction for a commercial vehicle if the retail installment contract states that this chapter applies.
(b)  If a retail installment contract does not state that this chapter applies, the transaction is governed by Chapter 348, and this chapter does not apply.
(c)  This chapter does not affect or apply to a loan made or the business of making loans under other law of this state and does not affect a rule of law applicable to a retail installment sale that is not a retail installment transaction.
(d)  The provisions of this chapter defining specific rates and amounts of charges and requiring certain credit disclosures to be made control over any contrary law of this state respecting those subjects.
Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 353 - Commercial Motor Vehicle Installment Sales › Subchapter A. General Provisions › Section 353.010. Applicability of Other Statutes to Retail Installment Transaction

Sec. 353.010.  APPLICABILITY OF OTHER STATUTES TO RETAIL INSTALLMENT TRANSACTION.  (a)  A loan or interest statute of this state, other than Chapter 303, does not apply to a retail installment transaction subject to this chapter.
(b)  Except as provided by this chapter, an applicable statute, including Title 1 and Chapter 322, Business & Commerce Code, or a principle of common law continues to apply to a retail installment transaction unless it is displaced by this chapter.
Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 353 - Commercial Motor Vehicle Installment Sales › Subchapter A. General Provisions › Section 353.011. Federal Disclosure Requirements

Sec. 353.011.  FEDERAL DISCLOSURE REQUIREMENTS.  If a disclosure requirement of this chapter and one of a federal law, including a regulation or an interpretation of federal law, are inconsistent or conflict, federal law controls and the inconsistent or conflicting disclosures required by this chapter need not be given.
Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 353 - Commercial Motor Vehicle Installment Sales › Subchapter A. General Provisions › Section 353.012. Additional Information Allowed in Contract

Sec. 353.012.  ADDITIONAL INFORMATION ALLOWED IN CONTRACT.  Information not required by this chapter may be included in a retail installment contract.
Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 353 - Commercial Motor Vehicle Installment Sales › Subchapter A. General Provisions › Section 353.013. Order of Items in Contract

Sec. 353.013.  ORDER OF ITEMS IN CONTRACT.  Items required by this chapter to be in a retail installment contract are not required to be stated in the order set forth in this chapter.
Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 353 - Commercial Motor Vehicle Installment Sales › Subchapter A. General Provisions › Section 353.014. Applicability of Insurance Premium Financing Provisions

Sec. 353.014.  APPLICABILITY OF INSURANCE PREMIUM FINANCING PROVISIONS.  Chapter 651, Insurance Code, does not apply to a retail installment transaction.
Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 353 - Commercial Motor Vehicle Installment Sales › Subchapter A. General Provisions › Section 353.016. Computation of Time Price Differential Using True Daily Earnings Method

Sec. 353.016.  COMPUTATION OF TIME PRICE DIFFERENTIAL USING TRUE DAILY EARNINGS METHOD.  Under the true daily earnings method, the earned time price differential is computed by multiplying the daily rate of the time price differential by the number of days the actual unpaid principal balance is outstanding.  Under this method:
(1)  a payment is credited at the time received, with a payment received before the scheduled installment date resulting in a greater reduction in the unpaid principal balance than otherwise scheduled, and a payment received after the scheduled installment date resulting in less of a reduction in the unpaid principal balance than otherwise scheduled;
(2)  a partial payment is applied first to time price differential with any remainder applied to the unpaid principal balance; and
(3)  accrued but unpaid time price differential is not:
(A)  added to the unpaid principal balance; or
(B)  compounded.
Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 353 - Commercial Motor Vehicle Installment Sales › Subchapter A. General Provisions › Section 353.017. Transaction Conditioned on Purchase of Vehicle Protection Product Prohibited

Sec. 353.017.  TRANSACTION CONDITIONED ON PURCHASE OF VEHICLE PROTECTION PRODUCT PROHIBITED.  (a)  In this section, "vehicle protection product" has the meaning assigned by Section 17.45, Business & Commerce Code.
(b)  A retail seller may not require as a condition of a retail installment transaction or the cash sale of a commercial vehicle that the buyer purchase a vehicle protection product that is not installed on the vehicle at the time of the transaction.
(c)  A violation of this section is a false, misleading, or deceptive act or practice within the meaning of Section 17.46, Business & Commerce Code, and is actionable in a public or private suit brought under Subchapter E, Chapter 17, Business & Commerce Code.
Added by Acts 2017, 85th Leg., R.S., Ch. 967 (S.B. 2065), Sec. 1.004, eff. September 1, 2017.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 353 - Commercial Motor Vehicle Installment Sales › Subchapter B. Retail Installment Contract › Section 353.101. Retail Installment Contract General Requirements

Sec. 353.101.  RETAIL INSTALLMENT CONTRACT GENERAL REQUIREMENTS.  (a)  A retail installment contract is required for each retail installment transaction in which the retail buyer is purchasing a commercial vehicle.  A retail installment contract may be more than one document.
(b)  A retail installment contract must be:
(1)  in writing;
(2)  dated;
(3)  signed by the retail buyer and retail seller; and
(4)  completed as to all essential provisions before it is signed by the retail buyer except as provided by Subsection (d).
(c)  The printed part of a retail installment contract, other than instructions for completion, must be in at least eight-point type unless a different size of type is required under this subchapter.
(d)  If the commercial vehicle is not delivered when the retail installment contract is executed, the following information may be inserted after the contract is executed:
(1)  the identifying numbers or marks of the vehicle or similar information; and
(2)  the due date of the first installment.
Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 353 - Commercial Motor Vehicle Installment Sales › Subchapter B. Retail Installment Contract › Section 353.102. Contract Conditioned on Subsequent Assignment Prohibited

Sec. 353.102.  CONTRACT CONDITIONED ON SUBSEQUENT ASSIGNMENT PROHIBITED.  (a)  A retail installment contract may not be conditioned on the subsequent assignment of the contract to a holder.
(b)  A provision in violation of this section is void.  This subsection does not affect the validity of other provisions of the contract that may be given effect without the voided provision, and to that extent those provisions are severable.
(c)  This section does not create a private right of action.
(d)  The commissioner has exclusive jurisdiction to enforce this section.
Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.
2023 Texas Statutes › Finance Code › Title 4 - Regulation of Interest, Loans, and Financed Transactions › Subtitle B - Loans and Financed Transactions › Chapter 353 - Commercial Motor Vehicle Installment Sales › Subchapter B. Retail Installment Contract › Section 353.103. Time Price Differential for Retail Installment Contract

Sec. 353.103.  TIME PRICE DIFFERENTIAL FOR RETAIL INSTALLMENT CONTRACT.  (a)  A retail installment contract may provide for:
(1)  any amount of time price differential permitted under Section 353.104, 353.105, or 353.106; or
(2)  any rate of time price differential not exceeding a yield permitted under Section 353.104, 353.105, or 353.106.
(b)  The time price differential may be computed using the:
(1)  precomputed earnings method;
(2)  scheduled installment earnings method; or
(3)  true daily earnings method.
Added by Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 17, eff. September 1, 2011.