reglab/statecodes huggingface dataset:
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 84 - MOTOR VEHICLE INSTALLMENT SALES › Subchapter G - EXAMINATIONS › Section 84.709 - Files and Records Required (Holders Taking Assignment of Retail Installment Sales Contracts)

Current through Reg. 49, No. 28; July 12, 2024
(a) Applicability.
				  The recordkeeping requirements of this section apply to holders who are not
				  retail sellers that service or collect installments on retail installment sales
				  contracts involving ordinary vehicles. The recordkeeping requirements of this
				  section do not apply to motor vehicle retail installment sales transactions
				  involving commercial vehicles.
(b)
				  Records required for each retail installment sales transaction. Each licensee
				  must maintain records with respect to the licensee's compliance with Texas
				  Finance Code, Chapter 348 for each motor vehicle retail installment sales
				  contract made, acquired, serviced, or held under Chapter 348 and make those
				  records available for examination.
(c) Recordkeeping systems. The records
				  required by this section may be maintained by using either a legible paper or
				  manual recordkeeping system, electronic recordkeeping system, optically imaged
				  recordkeeping system, or a combination of the preceding types of systems,
				  unless otherwise specified by statute or regulation. Licensees may maintain
				  records on one or more recordkeeping systems, so long as the licensee is able
				  to integrate records pertaining to an account into one or more reports as
				  required by this section. If federal law requirements for record retention are
				  different from the provisions contained in this section, the federal law
				  requirements prevail only to the extent of the conflict with the provisions of
				  this section.
(d) Record search
				  requirements.
(1) Open retail installment
				  sales transactions. A licensee must be able to access or produce a list of all
				  open retail installment sales transactions. If the list of open transactions is
				  accessed through an electronic system, the licensee must be able to generate a
				  separate report of open transactions. Alternatively, a licensee may provide a
				  list containing open and closed retail installment sales transactions as long
				  as the open transactions are designated as "open."
(2) Alphabetical search. A licensee must be
				  able to access records in alphabetical order by retail buyer name for open and
				  closed transactions during the record retention period required by subsection
				  (e)(9) of this section. A licensee may comply with the alphabetical requirement
				  by providing the commissioner's representative files by retail buyer name upon
				  request by the commissioner's representative.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 84 - MOTOR VEHICLE INSTALLMENT SALES › Subchapter H - RETAIL INSTALLMENT SALES CONTRACT PROVISIONS › Section 84.801 - Purpose

Current through Reg. 49, No. 28; July 12, 2024
(a) Purpose.
(1) Model provisions applicable to ordinary
				  vehicles. The purpose of this subchapter is to provide model provisions and a
				  model plain language contract in English for Texas Finance Code, Chapter 348
				  motor vehicle installment sales contract provisions for ordinary vehicles. The
				  establishment of model provisions for these transactions will encourage the use
				  of simplified wording that will ultimately benefit consumers by making these
				  contracts easier to understand. Use of the "plain language" model contract by a
				  seller is not mandatory. Except for retail installment sales contracts
				  involving commercial vehicles, the seller, however, may not use a contract
				  other than a model contract unless the seller has submitted the contract to the
				  OCCC in compliance with §
											RSA
				  84.802 of this title (relating to
				  Non-Standard Contract Filing Procedures). The OCCC will issue an order
				  disapproving the contract if the OCCC determines the contract does not comply
				  with this section or rules adopted under this section. A seller may not claim
				  the OCCC's failure to disapprove a contract constitutes approval.
(2) Model provisions applicable to ordinary
				  vehicles, but may be used for commercial vehicles if not prohibited by law.
				  This subchapter only applies to retail installment sales transactions involving
				  ordinary vehicles. A retail seller or holder of retail installment sales
				  contracts involving commercial vehicles is not required or obligated to comply
				  with the provisions of this subchapter. A retail seller or holder of retail
				  installment sales contracts involving commercial vehicles may utilize some or
				  all of the model provisions of this subchapter in creating a retail installment
				  sales contract. However, a retail seller or holder that utilizes any of the
				  model provisions from this subchapter will be bound by the provisions
				  utilized.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 84 - MOTOR VEHICLE INSTALLMENT SALES › Subchapter H - RETAIL INSTALLMENT SALES CONTRACT PROVISIONS › Section 84.802 - Non-Standard Contract Filing Procedures

Current through Reg. 49, No. 28; July 12, 2024
(a) Non-standard contracts. A non-standard
				  contract is a contract that does not use the model contract provisions.
				  Non-standard contracts submitted in compliance with the provisions of Texas
				  Finance Code, §
										RSA
				  341.502(c) will be reviewed
				  to determine that the contract is written in plain language.
(b) Certification of readability. Contract
				  filings subject to this chapter must be accompanied by a certification signed
				  by an officer of the creditor or the entity submitting the form on behalf of
				  the creditor. The certification must state that the contract is written in
				  plain language and that the contract can be easily understood by the average
				  consumer. The certification must state that the contract is printed in an
				  easily readable font and type size, including a list of the typefaces used in
				  the contract, the font sizes used in the contract, and the Flesch-Kincaid Grade
				  Level score of the contract. The OCCC will prescribe the form of the
				  certification.
(c) Filing
				  requirements. Contract filings must be identified as to the transaction type.
				  Contract filings must be submitted in accordance with the OCCC's instructions
				  and the following requirements:
(1) Microsoft
				  Word format. One copy must be submitted in a Microsoft Word format with the
				  document having either a .doc or .docx extension. The Flesch-Kincaid Grade
				  Level score of the contract must be based on the Microsoft Word readability
				  statistics function for the Microsoft Word version of the contract.
(2) PDF format. One copy must be submitted in
				  a text-searchable PDF format so that the contract may be visually reviewed in
				  its entirety. The page size must be 8.5 inches by 11 inches or 8.5 inches by 14
				  inches. The PDF may not be locked or restricted in a way that prohibits
				  comparison of different versions of the contract.
(3) No other formats permitted. The OCCC will
				  not accept paper filings or any other unlisted formats for non-standard
				  contract filings.
(4) Maximum
				  Flesch-Kincaid score. The maximum Flesch-Kincaid Grade Level score for a
				  Chapter 348 contact filing is grade 11.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 84 - MOTOR VEHICLE INSTALLMENT SALES › Subchapter H - RETAIL INSTALLMENT SALES CONTRACT PROVISIONS › Section 84.803 - Relationship with Federal Law

Current through Reg. 49, No. 28; July 12, 2024
(a)
				  Applicability of federal law. The disclosure requirements of the Truth in
				  Lending Act,
				  RSA
				  1601-
				  RSA
				  1667f, and its implementing regulation,
				  Regulation Z, 12 C.F.R. Parts 226 and 1026, and specifically
				  RSA
				  226.18(f) and §
										RSA
				  1026.18(f), regarding
				  variable rate disclosures, apply according to their terms to some retail
				  installment transactions subject to this chapter.
(b) Inconsistency. In the event of any
				  inconsistency or conflict between the disclosure or notice requirements in
				  these provisions and any current or future federal law, regulation, or
				  interpretation, the requirements of the federal law, regulation, or
				  interpretation will control to the extent of the inconsistency.
(c) Amount financed. In the model clauses
				  provided by this subchapter, a licensee may replace the term "principal
				  balance" with "amount financed" whenever the amount financed, computed in
				  accordance with federal Regulation Z, is the same as the principal balance
				  computed in accordance with the Texas Finance Code.
(d) Annual percentage rate. In the model
				  clauses provided by this subchapter, a licensee may replace the term "contract
				  rate" with "annual percentage rate" whenever the annual percentage rate,
				  computed in accordance with federal Regulation Z, is the same as the contract
				  rate computed in accordance with the Texas Finance Code.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 84 - MOTOR VEHICLE INSTALLMENT SALES › Subchapter H - RETAIL INSTALLMENT SALES CONTRACT PROVISIONS › Section 84.804 - Disclosures and Contract Provisions Required by Texas Finance Code

Current through Reg. 49, No. 28; July 12, 2024
A retail installment sales contract must include all
					 provisions required by Texas Finance Code, Chapter 348, and other law. The
					 contract must include the following disclosures and provisions, as
					 applicable:
(1) The consumer warning
				  required by Texas Finance Code, §
										RSA
				  348.102(d).
(2) The cash price as required by Texas
				  Finance Code, §
										RSA
				  348.102(a)(5). The cash
				  price may be disclosed as a separate item in the Itemization of Amount Financed
				  or elsewhere in the contract. The cash price is the price at which the seller
				  offers in the ordinary course of business to sell for cash the goods or
				  services that are subject to the transaction.
(3) The amount of any downpayment, specifying
				  the amounts paid in money and in goods traded in, as required by Texas Finance
				  Code, §
										RSA
				  348.102(a)(6). An amount
				  paid by the seller under Texas Finance Code, §
										RSA
				  348.404 to retire an amount owed (including
				  amounts owed under a vehicle lease) against a motor vehicle used as a trade-in
				  ("payoff") may be disclosed in several ways. The approaches outlined in the
				  Regulation Z Staff Commentary, as from time to time updated, are
				  permissible.
(4) The amounts of any
				  itemized charges not included in the cash price, as required by Texas Finance
				  Code, §
										RSA
				  348.102(a)(7). Itemized
				  charges may include the following charges as applicable and any other charges
				  that are authorized to be included in the itemized charges under Texas Finance
				  Code, Chapter 348:
(A) State inspection
				  fee;
(B) Documentary fee;
(C) Dealer's inventory tax;
(D) Sales tax;
(E) Other taxes not included in the cash
				  price (the seller may disclose one aggregate amount for all taxes or may
				  separately itemize one or more of the taxes);
(F) Deputy service fee;
(G) Title fee;
(H) License fee;
(I) Vehicle property insurance;
(J) Credit life and credit disability
				  insurance;
(K) GAP insurance, as
				  authorized by Texas Finance Code, §
											RSA
				  348.208(b)(4);
(L) Debt cancellation agreement;
(M) Theft protection plan;
(N) Service contract;
(O) Warranty contract;
(P) Identity recovery service
				  contract;
(Q) Automobile club
				  membership;
(R) Trade-in credit
				  agreement;
(S) Depreciation
				  benefit optional member program.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 84 - MOTOR VEHICLE INSTALLMENT SALES › Subchapter H - RETAIL INSTALLMENT SALES CONTRACT PROVISIONS › Section 84.805 - Other Disclosures Required by Commission Rule

Current through Reg. 49, No. 28; July 12, 2024
(a) The OCCC notice required by §
										RSA 86.101
				  of this title (relating to Consumer Notifications) must be disclosed.
(b) In a contract using the true daily
				  earnings method, a brief description of the method of earning finance charge
				  must be given. In a contract using the scheduled installment earnings method or
				  the sum of the periodic balances method of refunding precomputed finance
				  charges, the name of the method used must be given, and at the creditor's
				  option, a description of that method may be given. If in the same contract
				  form, the creditor uses the scheduled installment earnings method in certain
				  circumstances and the sum of the periodic balances method in other
				  circumstances, the creditor must provide a brief description of the
				  circumstances under which each method will be used, along with the name of the
				  method.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 84 - MOTOR VEHICLE INSTALLMENT SALES › Subchapter H - RETAIL INSTALLMENT SALES CONTRACT PROVISIONS › Section 84.806 - Format

Current through Reg. 49, No. 28; July 12, 2024
(a) Plain language
				  contracts must be printed in an easily readable font and type size pursuant to
				  Texas Finance Code, §
										RSA
				  341.502(a). If other state
				  or federal law requires a different type size for a specific disclosure or
				  contractual provision, the type size specified by the other law should be
				  used.
(b) The text of the document
				  must be set in an easily readable typeface. Typefaces considered to be readable
				  include: Arial, Calibri, Caslon, Century Schoolbook, Garamond, Helvetica,
				  Scala, and Times New Roman.
(c)
				  Titles, headings, subheadings, numbering, captions, and illustrative or
				  explanatory tables or sidebars may be used to distinguish between different
				  levels of information or to provide emphasis.
(d) Typeface size is referred to in points.
				  Because different typefaces in the same point size are not of equal size,
				  typeface is not strictly defined but is expressed as a minimum size in the
				  Times New Roman typeface for visual comparative purposes. Use of a larger
				  typeface is encouraged. The typeface for the federal disclosure box or other
				  disclosures required under federal law must be legible, but no minimum typeface
				  is required. Generally, the typeface for the remainder of the contract must be
				  at least as large as 8 point in the Times New Roman typeface. A point is
				  generally viewed as 1/72nd of an inch.
(e) The model clauses may be arranged in any
				  order. Additionally, the seller has considerable flexibility in the formatting
				  and arrangement of the information contained in the model clauses.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 84 - MOTOR VEHICLE INSTALLMENT SALES › Subchapter H - RETAIL INSTALLMENT SALES CONTRACT PROVISIONS › Section 84.808 - Model Clauses

Current through Reg. 49, No. 28; July 12, 2024
The following model clauses provide the plain language
					 equivalent of provisions found in contracts subject to Texas Finance Code,
					 Chapter 348.
(1) Identification of
				  parties. This information identifies the parties to the contract.
(A) The model identification clause lists the
				  name and address of the creditor, the date of the contract, and the name and
				  address of the buyer. At the creditor's option, a creditor may include an
				  account number or contract number. The model clause reads:
Attached
					 Graphic
(B) The
				  Buyer is referred to as "I" or "me." The Seller is referred to as "you" or
				  "your."
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 84 - MOTOR VEHICLE INSTALLMENT SALES › Subchapter H - RETAIL INSTALLMENT SALES CONTRACT PROVISIONS › Section 84.809 - Model Contract; Permissible Changes

Current through Reg. 49, No. 28; July 12, 2024
(a) Creditors may make the following types of
				  changes to the model clauses and the model contracts and may still be eligible
				  for the defenses provided by Texas Finance Code, §
										RSA 349.101:
(1) Deleting inapplicable
				  disclosures;
(2) Using a line for
				  the consumer to initial, rather than a checkbox;
(3) Adding a signature line to the insurance
				  disclosures to reflect joint policies;
(4) Substituting another term for "buyer,"
				  "seller," or "creditor" that has the same meaning, or use of pronouns such as
				  "you," "we," and "us" or "it";
(5)
				  Changing the person of the pronouns to refer to the seller as "I" or "me" and
				  the buyer as "you" or "your";
(6)
				  Substituting the word "vehicle" for the term "motor vehicle";
(7) Presenting the model clauses in any
				  order, and combining or further segregating the model clauses;
(8) Inserting descriptive headings or number
				  provisions;
(9) Changing the case
				  of a word if otherwise permitted by the Texas Finance Code;
(10) Omitting references to different
				  provisions for heavy commercial vehicles where the creditor elects to treat
				  buyers of heavy commercial vehicles under the rules applicable to other
				  vehicles;
(11) Moving provisions
				  from one side of the form to the other and directing the buyer to see the other
				  side, or placing all of the provisions on the same side of the form;
				  or
(12) Changing any provision to
				  comply with federal law.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 85 - PAWNSHOPS AND CRAFTED PRECIOUS METAL DEALERS › Subchapter A - RULES OF OPERATION FOR PAWNSHOPS › Division 1 - GENERAL PROVISIONS › Section 85.101 - Purpose and Scope

Current through Reg. 49, No. 28; July 12, 2024
(a) Purpose.
					 The purpose of this subchapter is to assist in the administration and
					 enforcement of Texas Finance Code, Chapter 371, which may be cited as the Texas
					 Pawnshop Act.
(b) Scope. This
					 subchapter applies to a person engaged in the business of:
(1) lending money on the security of pledged
					 goods; or
(2) purchasing goods on
					 condition that the goods may be redeemed or repurchased by the seller for a
					 fixed price within a fixed period.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 85 - PAWNSHOPS AND CRAFTED PRECIOUS METAL DEALERS › Subchapter A - RULES OF OPERATION FOR PAWNSHOPS › Division 1 - GENERAL PROVISIONS › Section 85.103 - Attempted Evasion of Subchapter

Current through Reg. 49, No. 28; July 12, 2024
A person may not use any device, subterfuge, or pretense
						to evade the application of this subchapter. A device, subterfuge, or pretense
						includes any transaction that in form may appear on its face to be something
						other than a pawn transaction, but in substance meets the definition of a pawn
						transaction as defined in the Texas Pawnshop Act,
						§371.003(8).
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 85 - PAWNSHOPS AND CRAFTED PRECIOUS METAL DEALERS › Subchapter A - RULES OF OPERATION FOR PAWNSHOPS › Division 1 - GENERAL PROVISIONS › Section 85.104 - License Term, Renewal, and Expiration

Current through Reg. 49, No. 28; July 12, 2024
(a) License term and renewal. A new pawnshop
					 license or pawnshop employee license is effective from the date of its issuance
					 until June 30. A pawnshop license and a pawnshop employee license must be
					 renewed annually in order to remain effective. After renewal, a pawnshop
					 license or pawnshop employee license is effective for a term of one year, from
					 July 1 of one calendar year to June 30 of the next calendar year.
(b) Due date for annual fees. The annual fees
					 for pawnshop licenses and pawnshop employee licenses are due by May 31 of each
					 year for the following July 1 through June 30 term.
(c) Notice of delinquency. If a licensed
					 pawnshop or pawnshop employee does not pay the annual fees, the OCCC will send
					 a written notice of delinquency by June 15.
(1) If a pawnshop has provided a master file
					 e-mail address to the OCCC, then the OCCC will:
(A) send any notice of delinquency for the
					 pawnshop to the master file e-mail address on file for the pawnshop;
					 and
(B) send any notice of
					 delinquency for an employee of the pawnshop to the employee through the master
					 file e-mail address on file for the pawnshop.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 85 - PAWNSHOPS AND CRAFTED PRECIOUS METAL DEALERS › Subchapter A - RULES OF OPERATION FOR PAWNSHOPS › Division 2 - PAWNSHOP LICENSE › Section 85.201 - Engaging in Business

Current through Reg. 49, No. 28; July 12, 2024
An application must be filed and approved before any
						person engages in the business of making pawn loans. The application and
						approval is required without regard to the rate of interest or pawn service
						charge contracted for, charged, or received, if any. An applicant is prohibited
						from advertising the opening of a new pawnshop prior to
						approval.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 85 - PAWNSHOPS AND CRAFTED PRECIOUS METAL DEALERS › Subchapter A - RULES OF OPERATION FOR PAWNSHOPS › Division 2 - PAWNSHOP LICENSE › Section 85.202 - Filing of New Application

Current through Reg. 49, No. 28; July 12, 2024
(a) An
					 application for issuance of a new pawnshop license must be submitted in a
					 format prescribed by the OCCC at the date of filing and in accordance with the
					 OCCC's instructions. The OCCC may accept the use of prescribed alternative
					 formats in order to accept approved electronic submissions. Appropriate fees
					 must be filed with the application, and the application must include the
					 following:
(1) Required application
					 information. All questions must be answered.
(A) Application for license.
(i) Location. A physical street address must
					 be listed for the proposed location for which the applicant can show proof of
					 ownership or an executed lease agreement. A post office box or a mail box
					 location at a private mail-receiving service may not be used except for a
					 physical location that does not receive general mail delivery. An application
					 for a new license is not permitted if the address or the full legal property
					 description has not yet been determined or the application is for an inactive
					 license.
(ii) Compliance officer.
					 The application must list a compliance officer. The compliance officer must be
					 an individual responsible for overseeing compliance, and must be authorized to
					 receive and respond to communications from the OCCC.
(iii) Signature. Electronic signatures will
					 be accepted in a manner approved by the commissioner. Each applicant must have
					 the application signed by an authorized individual.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 85 - PAWNSHOPS AND CRAFTED PRECIOUS METAL DEALERS › Subchapter A - RULES OF OPERATION FOR PAWNSHOPS › Division 2 - PAWNSHOP LICENSE › Section 85.203 - Relocation

Current through Reg. 49, No. 28; July 12, 2024
(a) Definition. As
					 used in §371.059 of the Texas Pawnshop Act and in this section, the
					 "relocation of a licensed pawnshop" means:
(1) the act of moving an existing licensed
					 operating pawnshop from its existing location to a new location;
(2) the activation of an inactive license for
					 purposes of establishing and operating a pawnshop at a facility.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 85 - PAWNSHOPS AND CRAFTED PRECIOUS METAL DEALERS › Subchapter A - RULES OF OPERATION FOR PAWNSHOPS › Division 2 - PAWNSHOP LICENSE › Section 85.204 - Temporary and Permanent Operation of Facility

Current through Reg. 49, No. 28; July 12, 2024
(a) The pawnshop must commence operation
					 within a period of six months after the date of approval unless an extension is
					 granted, in writing, by the commissioner. No more than one six-month extension
					 will be approved by the commissioner, unless good cause for the extension is
					 shown. At the end of any approved extension, if the pawnshop has not been
					 opened, the authority for approval of the pawnshop will be forfeited.
(b) The commissioner may approve opening and
					 operating a temporary facility for an approved application, provided that the
					 facility is within a one-half mile radius of the approved, permanent site. The
					 operation of the temporary facility will cease immediately upon the permanent
					 facility being completed for occupancy. The temporary facility must not operate
					 longer than 18 months unless extended in writing by the commissioner. The
					 commissioner may require regular status reports regarding the progress of
					 occupying the approved, permanent site.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 85 - PAWNSHOPS AND CRAFTED PRECIOUS METAL DEALERS › Subchapter A - RULES OF OPERATION FOR PAWNSHOPS › Division 2 - PAWNSHOP LICENSE › Section 85.206 - Processing of Application

Current through Reg. 49, No. 28; July 12, 2024
(a) Initial
					 review. A response to an incomplete application will ordinarily be made within
					 14 calendar days of receipt stating that the application is incomplete and
					 specifying the information required for completion.
(b) Application requirements. An application
					 must contain all of the items required in accordance with §
											RSA
					 85.202 of this title (relating to Filing of
					 New Application), §
											RSA 85.203 of this
					 title (relating to Relocation), or §
											RSA
					 85.205 of this title (relating to Transfer of
					 License; New License Application on Transfer of Ownership) as
					 appropriate.
(c) Complete
					 application. An application is complete when:
(1) the application conforms to the statutes,
					 rules, and published instructions;
(2) all fees have been paid; and
(3) all requests for additional information
					 have been satisfied.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 85 - PAWNSHOPS AND CRAFTED PRECIOUS METAL DEALERS › Subchapter A - RULES OF OPERATION FOR PAWNSHOPS › Division 2 - PAWNSHOP LICENSE › Section 85.207 - Bond

Current through Reg. 49, No. 28; July 12, 2024
The commissioner may require a bond under Texas Pawnshop
						Act, §371.056 when the commissioner finds that this would serve the public
						interest. When a bond is required, the commissioner will give written notice to
						the applicant. Upon failure to submit a bond within 40 calendar days of the
						date of the commissioner's notice, the pending application may be
						denied.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 85 - PAWNSHOPS AND CRAFTED PRECIOUS METAL DEALERS › Subchapter A - RULES OF OPERATION FOR PAWNSHOPS › Division 2 - PAWNSHOP LICENSE › Section 85.208 - Change in Form or Proportionate Ownership

Current through Reg. 49, No. 28; July 12, 2024
(a) Organizational form. When any licensee or
					 parent of a licensee desires to change the organizational form of its business
					 (e.g., from sole proprietorship to corporation) that results in the exact same
					 owners still owning the business, the licensee must advise the OCCC in writing
					 of the change within 14 calendar days by filing a license amendment and paying
					 the required fees as provided in §85.211 of this title (relating to Fees).
					 In addition, the licensee must submit a copy of the relevant portions of the
					 organizational document for the new entity (e.g., articles of incorporation)
					 addressing the ownership and management of the new entity.
(b) Merger.
(1) If a licensee is a party to a merger that
					 results in a new or different surviving entity other than the licensee, then
					 the merger is a transfer of ownership, and the licensee must file a license
					 transfer application or a new license application on transfer of ownership
					 pursuant to §
												RSA
					 85.205 of this title (relating to Transfer of
					 License; New License Application on Transfer of Ownership).
(2) If a licensee's parent entity is a party
					 to a merger that leads to the creation of a new entity or results in a
					 different surviving parent entity, the licensee must advise the OCCC in writing
					 of the change within 14 calendar days by filing a license amendment and paying
					 the required fees as provided in §
												RSA 85.211 of this
					 title.
(3) Mergers or transfers of
					 other entities with a beneficial interest beyond the parent entity level only
					 require notification within 14 calendar days in accordance with the OCCC's
					 instructions.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 85 - PAWNSHOPS AND CRAFTED PRECIOUS METAL DEALERS › Subchapter A - RULES OF OPERATION FOR PAWNSHOPS › Division 2 - PAWNSHOP LICENSE › Section 85.209 - Updating Application and Contact Information

Current through Reg. 49, No. 28; July 12, 2024
(a) Supplemental information. Upon request,
					 each applicant must provide information supplemental to that contained in the
					 applicant's original application documents.
(b) Applicant's updates to license
					 application information. Before a license application is approved, an applicant
					 must report to the OCCC any information that would require a materially
					 different answer than that given in the original license application and that
					 relates to the qualifications for license within 10 business days after the
					 person has knowledge of the information.
(c) Licensee's updates to license application
					 information. A licensee must report to the OCCC any information that would
					 require a different answer than that given in the original license application
					 within 30 calendar days after the licensee has knowledge of the information, if
					 the information relates to any of the following:
(1) the names of principal parties;
(2) criminal history;
(3) actions by regulatory agencies; or
(4) court judgments.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 85 - PAWNSHOPS AND CRAFTED PRECIOUS METAL DEALERS › Subchapter A - RULES OF OPERATION FOR PAWNSHOPS › Division 2 - PAWNSHOP LICENSE › Section 85.210 - License Inactivation or Voluntary Surrender

Current through Reg. 49, No. 28; July 12, 2024
(a) Inactivation of active license. A
					 licensee may cease operating a pawnshop and choose to inactivate the license. A
					 license may be inactivated by giving notice of the cessation of operations not
					 less than 30 calendar days prior to the anticipated inactivation date. Written
					 notification must be submitted by filing a license amendment or an approved
					 electronic submission as prescribed by the OCCC. The notice must include the
					 new mailing address for the license, the effective date of the inactivation,
					 the fee for amending the license, a certification that no loans will be made or
					 collected under the license until it is activated, a notice to pledgors that
					 pawn loans are being relocated, and a plan ensuring pledged goods are made
					 available for redemption. If an active license is not being used for the active
					 operation of a pawnshop, the OCCC may unilaterally place the license in
					 inactive status. A licensee must continue to pay the annual assessment fees for
					 an inactive license as outlined in §
											RSA 85.211 of this title
					 (relating to Fees), or the license will expire as described by §
											RSA
					 85.104 of this title (relating to License
					 Term, Renewal, and Expiration).
(b)
					 Activation of inactive license. To activate an inactive license the holder of
					 the inactive license must comply with the relocation requirements set forth in
					 §
											RSA 85.203 of this
					 title (relating to Relocation).
(c)
					 Voluntary surrender of license. Subject to §85.606(b) of this title
					 (relating to Surrender of License), a licensee may voluntarily surrender a
					 license by providing written notice of the cessation of operations, a request
					 to surrender the license, and the license certificate. A voluntary surrender
					 will result in cancellation of the license.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 85 - PAWNSHOPS AND CRAFTED PRECIOUS METAL DEALERS › Subchapter A - RULES OF OPERATION FOR PAWNSHOPS › Division 2 - PAWNSHOP LICENSE › Section 85.211 - Fees

Current through Reg. 49, No. 28; July 12, 2024
(a) New licenses. A
					 $500 nonrefundable investigation fee is assessed each time an application for a
					 new license is filed. The applicant is also required to pay the initial
					 assessment fee required by subsection (e)(5) of this section. This assessment
					 fee will be refunded if the application is not approved.
(b) Subsequent licenses. A $250 nonrefundable
					 investigation fee is assessed each time an application for an additional
					 license of an existing licensee is filed or if the application involves
					 substantially identical principals and owners of a licensed pawnshop. The
					 applicant is also required to pay the initial assessment fee required by
					 subsection (e)(5) of this section. This assessment fee will be refunded if the
					 application is not approved.
(c)
					 License transfers. An investigation fee of $500 for the first license transfer
					 and $250 for each additional license transfer sought simultaneously is
					 required. If the application involves substantially identical principals and
					 owners of a licensed pawnshop, then the fee is $250 for the first license
					 transfer. License transfer fees are nonrefundable.
(d) Fingerprint processing. An applicant must
					 pay a fee to a party designated by the Texas Department of Public Safety for
					 processing fingerprints. The Texas Department of Public Safety and the
					 designated party determine the amount of the fee and whether it is
					 refundable.
(e) Annual renewal and
					 assessment fees.
(1) An annual assessment fee
					 is required for each licensed pawnshop of:
(A) A fee not to exceed $625; and
(B) A volume fee not to exceed $0.05 per each
					 $1,000 loaned as calculated from the most recent annual report as described in
					 §
													RSA 85.502 of this
					 title (relating to Annual Report).
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 85 - PAWNSHOPS AND CRAFTED PRECIOUS METAL DEALERS › Subchapter A - RULES OF OPERATION FOR PAWNSHOPS › Division 2 - PAWNSHOP LICENSE › Section 85.212 - Application and Notices as Public Records

Current through Reg. 49, No. 28; July 12, 2024
Once a license application or notice is filed with the
						OCCC, it becomes a "state record" under Texas Government Code, §
											RSA
						441.180(11), and "public
						information" under Government Code, §
											RSA
						552.002. Under Government Code, §§
											RSA
						441.190,
						RSA
						441.191 and
						RSA
						552.004, the original applications and
						notices must be preserved as "state records" and "public information" unless
						destroyed with the approval of the director and librarian of the Texas State
						Library and Archives Commission under Government Code, §
											RSA
						441.187. Under Government Code, §
											RSA
						441.191, the OCCC may not return any original
						documents associated with a pawnshop license application or notice to the
						applicant or licensee. An individual may request copies of a state record under
						the authority of the Texas Public Information Act, Government Code, Chapter
						552.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 85 - PAWNSHOPS AND CRAFTED PRECIOUS METAL DEALERS › Subchapter A - RULES OF OPERATION FOR PAWNSHOPS › Division 3 - PAWNSHOP EMPLOYEE LICENSE › Section 85.301 - Filing of New Application

Current through Reg. 49, No. 28; July 12, 2024
An application for issuance of a new pawnshop employee
						license must be submitted in a format prescribed by the OCCC at the date of
						filing and in accordance with the OCCC's instructions. All questions must be
						answered. Appropriate fees must be filed with the application, and the
						application must include the following:
(1) Application.
(A) Identifying information. The application
					 must contain complete and accurate information identifying the
					 applicant.
(B) Residence
					 information. The application must report a continuous five-year residential
					 history.
(C) Employment
					 information. The application must report a continuous five-year employment
					 history. If an applicant was unemployed for a period of time or was enrolled as
					 a student during a period of time, the application must state that
					 fact.
(D) Background and history.
					 Any response about an employee's background and history must be true, correct,
					 and complete. Additional information as required must be provided with the
					 application.
(E) Signature. The
					 applicant must sign and affirm the application as true, correct, and
					 complete.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 85 - PAWNSHOPS AND CRAFTED PRECIOUS METAL DEALERS › Subchapter A - RULES OF OPERATION FOR PAWNSHOPS › Division 3 - PAWNSHOP EMPLOYEE LICENSE › Section 85.302 - Notification of Termination

Current through Reg. 49, No. 28; July 12, 2024
If a pawnshop employee ceases working at a pawnshop that
						participates in the pawnshop employee license program, then the pawnbroker must
						notify the OCCC of the termination within one week from the issuance of the
						final wage payment or in accordance with a standard preapproved reporting
						schedule.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 85 - PAWNSHOPS AND CRAFTED PRECIOUS METAL DEALERS › Subchapter A - RULES OF OPERATION FOR PAWNSHOPS › Division 3 - PAWNSHOP EMPLOYEE LICENSE › Section 85.303 - Notification of Hiring

Current through Reg. 49, No. 28; July 12, 2024
If a licensed pawnshop employee begins working at a
						pawnshop participating in the pawnshop employee license program, and the
						pawnshop is different from the pawnshop on file for the employee's license,
						then the hiring pawnbroker must notify the OCCC of the hiring within one week
						from the issuance of the initial wage payment or in accordance with a standard
						preapproved reporting schedule.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 85 - PAWNSHOPS AND CRAFTED PRECIOUS METAL DEALERS › Subchapter A - RULES OF OPERATION FOR PAWNSHOPS › Division 3 - PAWNSHOP EMPLOYEE LICENSE › Section 85.304 - Processing of Application

Current through Reg. 49, No. 28; July 12, 2024
(a) Application
					 requirements . An application for a pawnshop employee license must contain the
					 items required in accordance with §
											RSA
					 85.301 of this title (relating to Filing of
					 New Application).
(b) Complete
					 application. An application is complete when:
(1) the application conforms to the rules and
					 published instructions;
(2) all
					 fees have been paid; and
(3) all
					 requests for additional information have been satisfied.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 85 - PAWNSHOPS AND CRAFTED PRECIOUS METAL DEALERS › Subchapter A - RULES OF OPERATION FOR PAWNSHOPS › Division 3 - PAWNSHOP EMPLOYEE LICENSE › Section 85.305 - Updating Application and Contact Information

Current through Reg. 49, No. 28; July 12, 2024
(a) Supplemental information. Upon request,
					 each applicant must provide information supplemental to that contained in the
					 applicant's original application documents.
(b) Applicant's updates to license
					 application information. Before a license application is approved, an applicant
					 must report to the OCCC any information that would require a materially
					 different answer than that given in the original license application and that
					 relates to the qualifications for license within 10 business days after the
					 person has knowledge of the information.
(c) Licensee's updates to license application
					 information. A licensee must report to the OCCC any information that would
					 require a different answer than that given in the original license application
					 within 30 calendar days after the licensee has knowledge of the information, if
					 the information relates to any of the following:
(1) the licensee's name;
(2) criminal history;
(3) actions by regulatory agencies; or
(4) court judgments.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 85 - PAWNSHOPS AND CRAFTED PRECIOUS METAL DEALERS › Subchapter A - RULES OF OPERATION FOR PAWNSHOPS › Division 3 - PAWNSHOP EMPLOYEE LICENSE › Section 85.306 - Fees

Current through Reg. 49, No. 28; July 12, 2024
(a) New licenses. A
					 $50 nonrefundable investigation and annual fee is assessed each time an
					 application for a new license is filed.
(b) Fingerprint processing. An applicant must
					 pay a fee to a party designated by the Texas Department of Public Safety for
					 processing fingerprints. The Texas Department of Public Safety and the
					 designated party determine the amount of the fee and whether it is
					 refundable.
(c) Annual renewal
					 fees. The annual renewal fee for a pawnshop employee license is $25. The fee
					 must be paid by May 31 each year. A pawnshop employee license will expire on
					 the later of June 30 or the 16th day after the written notice of delinquency is
					 given unless the annual renewal fee has been paid.
(d) License amendments. An employee seeking
					 to amend a license by changing the name of the licensee or relocating to
					 another pawnshop is not required to pay an additional fee. Any relocation
					 requires notice to the OCCC in accordance with the OCCC's
					 instructions.
(e) License
					 duplicates sent by mail. The fee for a license duplicate to be sent by mail is
					 $10.
(f) Cost of hearings. The
					 commissioner or the administrative law judge may assess the cost of an
					 administrative appeal pursuant to Texas Finance Code, §
											RSA
					 14.207 for a hearing afforded under §
											RSA
					 85.304(e) of this title
					 (relating to Processing of Application), including the cost of the
					 administrative law judge, the court reporter, and agency staff representing the
					 OCCC at a hearing.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 85 - PAWNSHOPS AND CRAFTED PRECIOUS METAL DEALERS › Subchapter A - RULES OF OPERATION FOR PAWNSHOPS › Division 3 - PAWNSHOP EMPLOYEE LICENSE › Section 85.307 - Application and Notices as Public Records

Current through Reg. 49, No. 28; July 12, 2024
Once a license application or notice is filed with the
						OCCC, it becomes a "state record" under Texas Government Code, §
											RSA
						441.180(11), and "public
						information" under Government Code, §
											RSA
						552.002. Under Government Code, §§
											RSA
						441.190,
						RSA
						441.191 and
						RSA
						552.004, the original applications and
						notices must be preserved as "state records" and "public information" unless
						destroyed with the approval of the director and librarian of the Texas State
						Library and Archives Commission under Government Code, §
											RSA
						441.187. Under Government Code, §
											RSA
						441.191, the OCCC may not return any original
						documents associated with a pawnshop employee license application or notice to
						the applicant or licensee. An individual may request copies of a state record
						under the authority of the Texas Public Information Act, Government Code,
						Chapter 552.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER › Chapter 85 - PAWNSHOPS AND CRAFTED PRECIOUS METAL DEALERS › Subchapter A - RULES OF OPERATION FOR PAWNSHOPS › Division 3 - PAWNSHOP EMPLOYEE LICENSE › Section 85.308 - Availability of Pawnshop Employee License Information

Current through Reg. 49, No. 28; July 12, 2024
(a) Maintaining records. If a pawnbroker
					 participates in the pawnshop employee license program, then the pawnbroker must
					 maintain adequate written documents demonstrating that all pawnshop employees
					 are either properly licensed pursuant to Texas Finance Code, §
											RSA
					 371.101 or have applied for a pawnshop
					 employee license.
(b) Availability
					 of records. If a pawnbroker participates in the pawnshop employee license
					 program, then during an examination by the OCCC or an inspection by a peace
					 officer, copies of the pawnshop employee licenses or copies of records relating
					 to any pending applications for pawnshop employee licenses must be readily
					 available.