Texas Laws - Finance Code
FINANCE CODE
TITLE 2. FINANCIAL REGULATORY AGENCIES

TITLE 2. FINANCIAL REGULATORY AGENCIES (19)(1-click HTML)

CHAPTER 11. FINANCE COMMISSION OF TEXAS (20)(1-click HTML)

SUBCHAPTER A. GENERAL PROVISIONS (21)(1-click HTML)
Sec. 11.001. DEFINITIONS. (22)(1-click HTML)

(a) The definitions provided by Section 31.002 apply to this chapter. (23)

(b) In this chapter, "finance agency" means: (24)

(1) the Texas Department of Banking; (25)

(2) the Department of Savings and Mortgage Lending; or (26)

(3) the Office of Consumer Credit Commissioner. (27)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 867, Sec. 1, eff. Sept. 1, 2001. (28)

Amended by: (29)

Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 6.002, eff. September 1, 2007. (30)

Sec. 11.002. PURPOSE OF COMMISSION; STRATEGIC PLAN. (31)(1-click HTML)

(a) The finance commission is responsible for overseeing and coordinating the Texas Department of Banking, the Department of Savings and Mortgage Lending, and the Office of Consumer Credit Commissioner and serves as the primary point of accountability for ensuring that state depository and lending institutions function as a system, considering the broad scope of the financial services industry. The finance commission is the policy-making body for those finance agencies and is not a separate state agency. The finance commission shall carry out its functions in a manner that protects consumer interests, maintains a safe and sound banking system, and increases the economic prosperity of the state. (32)

(b) The finance commission shall prepare and periodically update a strategic plan for coordination of the state financial system. Each finance agency shall cooperate in preparation of the plan. (33)

Added by Acts 2001, 77th Leg., ch. 867, Sec. 2, eff. Sept. 1, 2001. (34)

Amended by: (35)

Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 6.003, eff. September 1, 2007. (36)

SUBCHAPTER B. COMPOSITION AND OPERATION (37)(1-click HTML)
Sec. 11.101. APPOINTMENT; TERMS; OATH. (38)(1-click HTML)

(a) The Finance Commission of Texas is composed of 11 members appointed by the governor with the advice and consent of the senate. (39)

(b) Members of the finance commission serve staggered six-year terms, with as near as possible to one-third of the members' terms expiring February 1 of each even-numbered year. (40)

(c) An appointment to the finance commission must be made without regard to the race, color, age, sex, religion, disability, or national origin of the appointee. (41)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (42)

Amended by: (43)

Acts 2011, 82nd Leg., R.S., Ch. 881 (S.B. 249), Sec. 1, eff. June 17, 2011. (44)

Sec. 11.102. QUALIFICATIONS OF MEMBERS. (45)(1-click HTML)

(a) A member of the finance commission must be a registered voter of this state. Not more than two members may be residents of the same state senatorial district. (46)

(b) Two members of the finance commission must be banking executives, one member of the finance commission must be a savings executive, one member of the finance commission must be a consumer credit executive, and one member of the finance commission must be a residential mortgage loan originator licensed under Chapter 156 or 157. (47)

(c) Six members of the finance commission must be representatives of the general public. At least one of those members must be a certified public accountant. (48)

(d) A person may not be a public member of the finance commission if the person or the person's spouse: (49)

(1) is registered, certified, or licensed by a regulatory agency in an industry regulated by a finance agency; (50)

(2) is employed by or participates in the management of a business entity or other organization regulated by or receiving money from a finance agency; (51)

(3) owns or controls, directly or indirectly, more than a 10 percent interest in a business entity or other organization regulated by or receiving money from a finance agency; or (52)

(4) uses or receives a substantial amount of tangible goods, services, or money from a finance agency other than compensation or reimbursement authorized by law for finance commission membership, attendance, or expenses. (53)

(e) For the purposes of this section: (54)

(1) "Banking executive" means a person who: (55)

(A) has had five years' or more executive experience in a bank during the seven-year period preceding the person's appointment; and (56)

(B) is an officer of a state bank. (57)

(2) "Savings executive" means a person who: (58)

(A) has had five years' or more executive experience in a savings association or savings bank during the seven-year period preceding the person's appointment; and (59)

(B) is an officer of a state savings association or savings bank. (60)

(3) "Consumer credit executive" means a person who: (61)

(A) has had five years' or more executive experience in an entity regulated by the consumer credit commissioner during the seven-year period preceding the person's appointment; and (62)

(B) is an officer of an entity regulated by the consumer credit commissioner. (63)

(4) "Residential mortgage loan originator" means a person who: (64)

(A) has had five years' or more experience as a residential mortgage loan originator, as defined by Section 180.002, during the seven-year period preceding the person's appointment; and (65)

(B) is a residential mortgage loan originator, as defined by Section 180.002. (66)

(f) Experience as banking commissioner, deputy banking commissioner, examiner, or supervisor of examiners for a state or federal banking regulatory agency is considered executive experience in a bank for the purposes of Subsection (e)(1)(A). Experience as savings and mortgage lending commissioner, deputy savings and mortgage lending commissioner, examiner, or supervisor of examiners for a state or federal savings and loan regulatory agency is considered executive experience in a savings association or savings bank for the purposes of Subsection (e)(2)(A). (67)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 867, Sec. 3, eff. Sept. 1, 2001. (68)

Amended by: (69)

Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 6.004, eff. September 1, 2007. (70)

Acts 2011, 82nd Leg., R.S., Ch. 645 (S.B. 1008), Sec. 1, eff. June 17, 2011. (71)

Acts 2011, 82nd Leg., R.S., Ch. 645 (S.B. 1008), Sec. 2, eff. June 17, 2011. (72)

Acts 2011, 82nd Leg., R.S., Ch. 881 (S.B. 249), Sec. 2, eff. June 17, 2011. (73)

Sec. 11.1021. CONFLICT OF INTEREST. (74)(1-click HTML)

(a) In this section, "Texas trade association" means a cooperative and voluntarily joined association of business or professional competitors in this state designed to assist its members and its industry or profession in dealing with mutual business or professional problems and in promoting their common interest. (75)

(b) A person may not be a member of the finance commission if: (76)

(1) the person is an officer, employee, or paid consultant of a Texas trade association in an industry regulated by a finance agency; or (77)

(2) the person's spouse is an officer, manager, or paid consultant of a Texas trade association in an industry regulated by a finance agency. (78)

(c) A person may not be a member of the finance commission if the person is required to register as a lobbyist under Chapter 305, Government Code, because of the person's activities for compensation on behalf of a profession related to the operation of a finance agency. (79)

Added by Acts 2001, 77th Leg., ch. 867, Sec. 4, eff. Sept. 1, 2001. (80)

Sec. 11.103. REMOVAL OF MEMBERS. (81)(1-click HTML)

(a) It is a ground for removal from the finance commission that a member: (82)

(1) does not have at the time of taking office the qualifications required by Section 11.102; (83)

(2) does not maintain during service on the finance commission the qualifications required by Section 11.102; (84)

(3) is ineligible for membership under Section 11.102 or 11.1021; (85)

(4) cannot, because of illness or disability, discharge the member's duties for a substantial part of the member's term; or (86)

(5) is absent from more than half of the regularly scheduled finance commission meetings that the member is eligible to attend during a calendar year without an excuse approved by a majority vote of the finance commission. (87)

(b) If the banking commissioner, savings and mortgage lending commissioner, or consumer credit commissioner has knowledge that a potential ground for removal exists, the banking commissioner, savings and mortgage lending commissioner, or consumer credit commissioner shall notify the presiding officer of the finance commission of the potential ground. The presiding officer shall then notify the governor and the attorney general that a potential ground for removal exists. If the potential ground for removal involves the presiding officer, the banking commissioner, savings and mortgage lending commissioner, or consumer credit commissioner shall notify the next highest ranking officer of the finance commission, who shall then notify the governor and the attorney general that a potential ground for removal exists. (88)

(c) The validity of an action of the finance commission is not affected by the fact that it was taken when a ground for removal of a member of the finance commission existed. (89)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 867, Sec. 5, eff. Sept. 1, 2001. (90)

Amended by: (91)

Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 6.005, eff. September 1, 2007. (92)

Sec. 11.104. EXPENSES AND COMPENSATION OF MEMBERS. (93)(1-click HTML)

A member of the finance commission is entitled to: (94)

(1) the reimbursement for reasonable and necessary expenses incidental to travel incurred in connection with the performance of official duties; and (95)

(2) a per diem for each day that the member engages in the business of the finance commission. (96)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (97)

Amended by: (98)

Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 28(b), eff. September 1, 2009. (99)

Sec. 11.105. MATTER IN WHICH MEMBER HAS PERSONAL INTEREST. (100)(1-click HTML)

A member of the finance commission may not act or participate in the portion of a commission meeting during which the matter considered specifically relates to an entity: (101)

(1) of which the member or the member's spouse is an officer, director, stockholder, shareholder, or owner; or (102)

(2) in which the member or the member's spouse has another financial interest. (103)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (104)

Amended by: (105)

Acts 2007, 80th Leg., R.S., Ch. 237 (H.B. 1962), Sec. 1, eff. September 1, 2007. (106)

Sec. 11.106. MEETINGS. (107)(1-click HTML)

(a) The finance commission shall hold at least six regular public meetings during each calendar year on dates set by the commission. (108)

(b) The presiding officer or three members of the finance commission may call a special public meeting of the commission. (109)

(c) The finance commission may hold an open or closed special meeting by telephone conference call if: (110)

(1) immediate action is required; (111)

(2) the convening at one location of a quorum of the finance commission is difficult or impossible; (112)

(3) notice is given for the meeting as for other meetings; (113)

(4) the notice specifies a location for the meeting at which the public may attend; (114)

(5) each part of the meeting that is required to be open to the public is audible to the public at the location specified in the notice of the meeting; and (115)

(6) the meeting is tape-recorded and the tape recording of each portion of the meeting that is required to be open to the public is made available to the public. (116)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (117)

Sec. 11.107. PRESIDING OFFICER. (118)(1-click HTML)

(a) The governor shall appoint a member of the finance commission as presiding officer of the commission. The presiding officer serves at the will of the governor. (119)

(b) The presiding officer shall preside at and provide for the keeping of minutes of each public meeting of the finance commission. (120)

(c) The presiding officer may: (121)

(1) adopt rules and procedures as the presiding officer considers necessary for the orderly operation of the finance commission and for communication among the finance commission, the Texas Department of Banking, the Department of Savings and Mortgage Lending, and the Office of Consumer Credit Commissioner; (122)

(2) adopt internal procedures governing the time and place of meetings, the type of notice for special public meetings, the manner in which public meetings are to be conducted, and other similar matters; and (123)

(3) appoint committees composed of finance commission members as the presiding officer considers necessary to carry out the commission's business. (124)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (125)

Amended by: (126)

Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 6.006, eff. September 1, 2007. (127)

Acts 2013, 83rd Leg., R.S., Ch. 940 (H.B. 1664), Sec. 1, eff. June 14, 2013. (128)

Sec. 11.108. SUNSET PROVISION. (129)(1-click HTML)

The finance commission is subject to Chapter 325, Government Code (Texas Sunset Act). Unless continued in existence as provided by that chapter, the commission is abolished September 1, 2019. (130)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 867, Sec. 6, eff. Sept. 1, 2001. (131)

Amended by: (132)

Acts 2011, 82nd Leg., R.S., Ch. 1232 (S.B. 652), Sec. 2.02, eff. June 17, 2011. (133)

Acts 2013, 83rd Leg., R.S., Ch. 1279 (H.B. 1675), Sec. 3.02, eff. June 14, 2013. (134)

Sec. 11.109. STANDARDS OF CONDUCT. (135)(1-click HTML)

The presiding officer of the finance commission or the presiding officer's designee shall provide to members of the finance commission, as often as necessary, information regarding the requirements for office under this title, including information regarding a person's responsibilities under applicable laws relating to standards of conduct for state officers. (136)

Added by Acts 2001, 77th Leg., ch. 867, Sec. 7, eff. Sept. 1, 2001. (137)

Sec. 11.110. TRAINING. (138)(1-click HTML)

(a) A person who is appointed to and qualifies for office as a member of the finance commission may not vote, deliberate, or be counted as a member in attendance at a meeting of the finance commission until the person completes a training program that complies with this section. (139)

(b) The training program must provide the person with information regarding: (140)

(1) the legislation that created the finance agencies and the finance commission; (141)

(2) the programs operated by the finance agencies; (142)

(3) the role and functions of the finance agencies; (143)

(4) the rules of the finance commission with an emphasis on the rules that relate to disciplinary and investigatory authority; (144)

(5) the current budget for the finance agencies; (145)

(6) the results of the most recent formal audit of the finance agencies; (146)

(7) the requirements of: (147)

(A) the open meetings law, Chapter 551, Government Code; (148)

(B) the public information law, Chapter 552, Government Code; (149)

(C) the administrative procedure law, Chapter 2001, Government Code; and (150)

(D) other laws relating to public officials, including conflict-of-interest laws; and (151)

(8) any applicable ethics policies adopted by the finance commission or the Texas Ethics Commission. (152)

(c) A person appointed to the finance commission is entitled to reimbursement under Section 11.104, as if the person were a member of the finance commission, for the travel expenses incurred in attending the training program regardless of whether the attendance at the program occurs before or after the person qualifies for office. (153)

Added by Acts 2001, 77th Leg., ch. 867, Sec. 7, eff. Sept. 1, 2001. (154)

Amended by: (155)

Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 28(c), eff. September 1, 2009. (156)

Sec. 11.111. SEPARATION OF FUNCTIONS. (157)(1-click HTML)

The finance commission shall develop and implement policies that clearly separate the policymaking responsibilities of the finance commission and the management responsibilities of the banking commissioner, savings and mortgage lending commissioner, and consumer credit commissioner and staff of the finance agencies. (158)

Added by Acts 2001, 77th Leg., ch. 867, Sec. 7, eff. Sept. 1, 2001. (159)

Amended by: (160)

Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 6.007, eff. September 1, 2007. (161)

Sec. 11.112. PUBLIC TESTIMONY. (162)(1-click HTML)

The finance commission shall develop and implement policies that provide the public with a reasonable opportunity to appear before the finance commission and to speak on any issue under the jurisdiction of the finance agencies. (163)

Added by Acts 2001, 77th Leg., ch. 867, Sec. 7, eff. Sept. 1, 2001. (164)

SUBCHAPTER C. STAFF AND EXPENSES (165)(1-click HTML)
Sec. 11.202. HEARINGS OFFICER AND AUDITOR. (166)(1-click HTML)

(a) The finance commission shall direct a finance agency to employ an internal auditor to provide services to and facilitate commission oversight and control over the finance agencies. (167)

(b) The Texas Department of Banking may employ a hearings officer to serve the finance agencies as determined by interagency agreement. For the purposes of Section 2003.021, Government Code, a hearings officer employed under this section is considered to be an employee of each agency for which hearing services are provided. The hearings officer's only duty is to preside over matters related to contested cases before a finance agency or the finance commission. (168)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 867, Sec. 8, eff. Sept. 1, 2001. (169)

Sec. 11.203. LIMITATION ON DIRECTION OF AUDITOR. (170)(1-click HTML)

The internal auditor reports to the finance commission and is not subject to direction by the employing finance agency. (171)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 867, Sec. 9, eff. Sept. 1, 2001. (172)

Sec. 11.204. SHARING OF STAFF, EQUIPMENT, AND FACILITIES; ALLOCATION OF COSTS. (173)(1-click HTML)

(a) The finance commission shall use the staff, equipment, and facilities of the finance agencies to the extent necessary to carry out the finance commission's duties. To reduce administrative costs, the finance agencies shall share staff, equipment, and facilities to the extent that the sharing contributes to cost efficiency without detracting from the staff expertise needed for individual areas of agency responsibility. (174)

(b) An interagency agreement must provide that the cost of staff used by the finance commission, including the internal auditor, is to be charged to the finance agencies in proportion to the amount of time devoted to each agency's business. All other costs of operation of the finance commission are to be shared by and included in the budgets of the finance agencies in proportion to the amount of cash receipts of each of those agencies. (175)

(c) The finance commission shall have charge and control of the property known as the Finance Commission Building and use of staff, equipment, and facilities of the finance agencies. The Finance Commission Building refers to the property located in the city of Austin and titled in the name of the Banking Section of the Finance Commission of Texas, as described by deed recorded in Volume 5080, Page 1099, of the Deed Records of Travis County, Texas. (176)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 867, Sec. 10, eff. Sept. 1, 2001. (177)

Amended by: (178)

Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 28(d), eff. September 1, 2009. (179)

SUBCHAPTER D. POWERS AND DUTIES (180)(1-click HTML)
Sec. 11.301. BANKING RULES. (181)(1-click HTML)

The finance commission may adopt banking rules as provided by Section 31.003. (182)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (183)

Sec. 11.302. SAVINGS ASSOCIATION AND SAVINGS BANK RULES. (184)(1-click HTML)

(a) The finance commission may adopt rules applicable to state savings associations or to savings banks and may authorize state savings associations and savings banks to invest money of state savings associations or savings banks in any manner permitted for a federal savings association or federal savings bank domiciled in this state. This subsection does not authorize the finance commission to diminish or limit a right or power specifically given to state savings associations or savings banks by state law. (185)

(b) The finance commission may adopt rules to: (186)

(1) prevent state savings associations or savings banks from concentrating an excessive or unreasonable portion of the resources of state savings associations or savings banks in a type or character of loan or security authorized by Subtitle B or C, Title 3; and (187)

(2) establish standards for investments by state savings associations or savings banks, including limits on the amount that a state savings association or savings bank may invest in a type or character of investment to an amount or percentage of the savings association's or savings bank's assets or net worth. (188)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (189)

Sec. 11.303. DISCLOSURE OF CERTAIN INFORMATION TO FINANCE COMMISSION PROHIBITED. (190)(1-click HTML)

Information regarding the financial condition of a state savings association or savings bank obtained through examination or otherwise may not be disclosed to a member of the finance commission, except that the savings and mortgage lending commissioner may disclose to the finance commission a file or record pertinent to a hearing or matter pending before the commission. (191)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (192)

Amended by: (193)

Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 6.008, eff. September 1, 2007. (194)

Sec. 11.304. CONSUMER CREDIT RULES. (195)(1-click HTML)

The finance commission may adopt rules necessary to supervise the consumer credit commissioner and ensure compliance with Chapter 14 and Title 4. (196)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (197)

Sec. 11.305. RESEARCH. (198)(1-click HTML)

(a) The finance commission shall instruct the consumer credit commissioner to establish a program to address alternatives to high-cost lending in this state. The program shall: (199)

(1) study and report on the problem of high-cost lending, including without limitation the availability, quality, and prices of financial services, including lending and depository services, offered in this state to agricultural businesses, small businesses, and individual consumers in this state; (200)

(2) evaluate alternatives to high-cost lending and the practices of business entities in this state that provide financial services to agricultural businesses, small businesses, and individual consumers in this state; (201)

(3) develop models to provide lower-cost alternatives to assist borrowers who contract for high-cost loans; and (202)

(4) track the location of lenders who enter into loan contracts providing for an interest charge authorized by Section 342.201, map the location of the lenders by senatorial district and by any other appropriate areas, provide other demographic information relating to the loans and the location of the lenders, and provide information on the changes in the distribution of the lenders from 1997 through the date of the report. (203)

(b) The program may: (204)

(1) apply for and receive public and private grants and gifts to conduct the research authorized by this section; (205)

(2) contract with public and private entities to carry out studies and analyses under this section; (206)

(3) provide funding for pilot programs; and (207)

(4) make grants to nonprofit institutions working to provide alternatives to high-cost loans. (208)

(c) Not later than December 1 of each year, the consumer credit commissioner shall provide to the legislature a report detailing its findings and making recommendations to improve the availability, quality, and prices of financial services. (209)

(d) The Texas Department of Banking and the Department of Savings and Mortgage Lending shall jointly conduct a continuing review of the condition of the state banking system. The review must include a review of all available national and state economic forecasts and an analysis of changing banking practices and new banking legislation. Periodically the departments shall submit a report to the finance commission on the results of the review, including information relating to the condition of the state banking system at the time of the report and the predicted condition of that system in the future. (210)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 867, Sec. 11, eff. Sept. 1, 2001; Acts 2001, 77th Leg., ch. 916, Sec. 7, eff. Sept. 1, 2001; Acts 2003, 78th Leg., ch. 211, Sec. 2.03(c), eff. June 16, 2003. (211)

Amended by: (212)

Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 6.009, eff. September 1, 2007. (213)

Sec. 11.3055. FINANCIAL SERVICES STUDY. (214)(1-click HTML)

(a) The finance commission may assign the banking commissioner, savings and mortgage lending commissioner, or consumer credit commissioner to conduct research on: (215)

(1) the availability, quality, and prices of financial services, including lending and depository services, offered in this state to agricultural businesses, small businesses, and individual consumers in this state; and (216)

(2) the practices of business entities in this state that provide financial services to agricultural businesses, small businesses, and individual consumers in this state. (217)

(b) The banking commissioner, savings and mortgage lending commissioner, or consumer credit commissioner may: (218)

(1) apply for and receive public and private grants and gifts to conduct the research authorized by this section; and (219)

(2) contract with public and private entities to carry out studies and analyses under this section. (220)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. September 1, 1997. Amended by Acts 2001, 77th Leg., ch. 867, Sec. 11, eff. September 1, 2001. (221)

Renumbered from Finance Code Sec. 11.305(a), (b) and amended by Acts 2003, 78th Leg., ch. 211, Sec. 2.03(c), eff. June 16, 2003. (222)

Amended by: (223)

Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 6.010, eff. September 1, 2007. (224)

Sec. 11.306. RESIDENTIAL MORTGAGE LOAN ORIGINATION RULES. (225)(1-click HTML)

The finance commission may adopt residential mortgage loan origination rules as provided by Chapter 156. (226)

Added by Acts 1999, 76th Leg., ch. 1254, Sec. 1, eff. Sept. 1, 1999. Amended by Acts 2001, 77th Leg., ch. 867, Sec. 12, eff. Sept. 1, 2001. (227)

Amended by: (228)

Acts 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124), Sec. 1, eff. September 1, 2011. (229)

Sec. 11.307. RULES RELATING TO CONSUMER COMPLAINTS. (230)(1-click HTML)

(a) The finance commission shall adopt rules applicable to each entity regulated by the Texas Department of Banking or the Department of Savings and Mortgage Lending specifying the manner in which the entity provides consumers with information on how to file complaints with the appropriate agency. (231)

(b) The finance commission shall adopt rules applicable to each entity regulated by a finance agency requiring the entity to include information on how to file complaints with the appropriate agency in each privacy notice that the entity is required to provide consumers under law, including Pub. L. No. 106-102. (232)

Added by Acts 2001, 77th Leg., ch. 867, Sec. 13, eff. Sept. 1, 2001. (233)

Amended by: (234)

Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 6.011, eff. September 1, 2007. (235)

Sec. 11.308. INTERPRETATION OF HOME EQUITY LENDING LAW. (236)(1-click HTML)

The finance commission may, on request of an interested person or on its own motion, issue interpretations of Sections 50(a)(5)-(7), (e)-(p), (t), and (u), Article XVI, Texas Constitution. An interpretation under this section is subject to Chapter 2001, Government Code, and is applicable to all lenders authorized to make extensions of credit under Section 50(a)(6), Article XVI, Texas Constitution, except lenders regulated by the Credit Union Commission. The finance commission and the Credit Union Commission shall attempt to adopt interpretations that are as consistent as feasible or shall state justification for any inconsistency. (237)

Acts 2003, 78th Leg., ch. 1207, Sec. 1, eff. Sept. 13, 2003. (238)

Sec. 11.309. RULES RELATING TO CHECK VERIFICATION ENTITIES. (239)(1-click HTML)

(a) In this section, "check verification entity" and "financial institution" have the meanings assigned by Section 523.052, Business & Commerce Code. (240)

(b) The finance commission shall adopt rules: (241)

(1) requiring a check verification entity to register with the banking commissioner: (242)

(A) at the intervals the finance commission determines, but not less frequently than annually; and (243)

(B) by providing to the banking commissioner the information that the finance commission determines is necessary to enable a financial institution or a check verification entity to comply with the requirements of Section 523.052, Business & Commerce Code; (244)

(2) authorizing the banking commissioner to charge a check verification entity a reasonable annual fee, not to exceed $100, to register with the commissioner; and (245)

(3) requiring the banking commissioner to establish an electronic notification system, through secure e-mail or another secure system, to be used by a financial institution to notify check verification entities as required by Section 523.052, Business & Commerce Code. (246)

(c) The finance commission may not impose a duty on the banking commissioner under Subsection (b)(3) to verify the validity or completeness of information transmitted through the electronic notification system. (247)

(d) The banking commissioner may solicit and accept gifts, grants, and donations from public and private entities to establish and maintain the secure notification system. (248)

Added by Acts 2007, 80th Leg., R.S., Ch. 1044 (H.B. 2002), Sec. 2, eff. September 1, 2007. (249)

Amended by: (250)

Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969), Sec. 10.001, eff. September 1, 2009. (251)

CHAPTER 12. TEXAS DEPARTMENT OF BANKING (252)(1-click HTML)

Sec. 12.001. DEFINITIONS. (253)(1-click HTML)

The definitions provided by Section 31.002 apply to this chapter. (254)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (255)

SUBCHAPTER B. OPERATION OF DEPARTMENT (256)(1-click HTML)
Sec. 12.101. BANKING COMMISSIONER. (257)(1-click HTML)

(a) The banking commissioner is the chief executive officer of the Texas Department of Banking. The finance commission shall appoint the banking commissioner. The banking commissioner serves at the will of the finance commission and is subject to the finance commission's orders and directions. (258)

(b) The banking commissioner must have not less than seven years' experience in banking or bank supervision. (259)

(c) The finance commission shall set the compensation of the banking commissioner. The compensation shall be paid from money of the department. (260)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 867, Sec. 14, eff. Sept. 1, 2001. (261)

Amended by: (262)

Acts 2015, 84th Leg., R.S., Ch. 367 (H.B. 3536), Sec. 1, eff. September 1, 2015. (263)

Sec. 12.102. DEPUTY BANKING COMMISSIONERS. (264)(1-click HTML)

(a) The banking commissioner shall appoint one or more deputy banking commissioners as necessary to the efficient operation of the department. The banking commissioner shall prescribe the qualifications and duties of a deputy banking commissioner. (265)

(b) During the banking commissioner's absence or inability to serve, a deputy banking commissioner has the powers and shall perform the duties of the banking commissioner. (266)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 412, Sec. 1.01, eff. Sept. 1, 2001. (267)

Sec. 12.104. OATH OF OFFICE. (268)(1-click HTML)

Before assuming the duties of office, each deputy banking commissioner, examiner, assistant examiner, conservator, supervisor, and special agent, and each other officer or employee specified by the banking commissioner, must take an oath of office to: (269)

(1) discharge faithfully the duties assigned; and (270)

(2) uphold the constitution and laws of this state and of the United States. (271)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 412, Sec. 1.02, eff. Sept. 1, 2001. (272)

Sec. 12.105. FEES, REVENUE, AND EXPENSES; AUDIT. (273)(1-click HTML)

(a) The finance commission shall establish reasonable and necessary fees for the administration of this chapter, Chapter 11, Chapter 13, and Subtitle A, Title 3. (274)

(b) The costs of an audit of the department under Chapter 321, Government Code, shall be paid to the state auditor from the money of the department. (275)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (276)

Sec. 12.106. LIABILITY. (277)(1-click HTML)

(a) The banking commissioner, a member of the finance commission, a deputy banking commissioner, an examiner, assistant examiner, supervisor, conservator, agent, or other officer or employee of the department, or an agent of the banking commissioner is not personally liable for damages arising from the person's official act or omission unless the act or omission is corrupt or malicious. (278)

(b) The attorney general shall defend an action brought against a person because of an official act or omission under Subsection (a) regardless of whether the defendant has terminated service with the department before the action commences. (279)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 412, Sec. 1.03, eff. Sept. 1, 2001. (280)

Sec. 12.107. CONFLICT OF INTEREST. (281)(1-click HTML)

(a) In this section, "Texas trade association" means a cooperative and voluntarily joined association of business or professional competitors in this state that: (282)

(1) is primarily designed to assist its members and its industry or profession in dealing with mutual business or professional problems and in promoting their common interest; and (283)

(2) includes business and professional competitors located in this state among its members. (284)

(b) A person may not be a department employee if: (285)

(1) the person is an officer, employee, or paid consultant of a Texas trade association in an industry regulated by the department; or (286)

(2) the person's spouse is an officer, manager, or paid consultant of a Texas trade association in an industry regulated by the department. (287)

(c) A person may not act as the general counsel to the department if the person is required to register as a lobbyist under Chapter 305, Government Code, because of the person's activities for compensation on behalf of a profession related to the operation of the department. (288)

(d) A department employee may not: (289)

(1) purchase an asset owned by a person regulated by the department in the possession of the banking commissioner or other receiver for purposes of liquidation, unless the asset is purchased at public auction or with the approval of the receivership court; (290)

(2) except as provided by Subsection (e), become directly or indirectly indebted to a person regulated by the department; (291)

(3) except as provided by Subsection (f), become directly or indirectly financially interested in a person regulated by the department; or (292)

(4) obtain a product or service from a person regulated by the department, or an affiliate of a person regulated by the department, on terms or rates that are more favorable to the employee than those prevailing at the time for comparable transactions with or involving other similarly situated consumers. (293)

(e) Subject to Subsection (d)(4) and except as otherwise provided by employment policies adopted by the banking commissioner, Subsection (d)(2) does not prohibit indebtedness of: (294)

(1) a clerical or administrative employee to a person regulated by the department, if the employee does not exercise discretionary decision-making authority with respect to the person; or (295)

(2) an employee of the department, other than a clerical or administrative employee, if the indebtedness was permissible when incurred and became prohibited indebtedness under Subsection (d)(2) as a result of employment by the department or a circumstance over which the employee has no control, including a merger, acquisition, purchase or sale of assets, or assumption of liabilities involving a regulated person, if the employee: (296)

(A) repays the indebtedness; or (297)

(B) does not knowingly participate in or consider any matter concerning the person to whom the employee is indebted. (298)

(f) Except as otherwise provided by employment policies adopted by the banking commissioner, Subsection (d)(3) does not prohibit a financial interest of an employee of the department solely because: (299)

(1) the employee owns publicly traded shares of a registered investment company (mutual fund) that owns publicly traded equity securities issued by a person regulated by the department; or (300)

(2) the spouse of or other person related to the employee is employed by a person regulated by the department and receives equity securities of the person through participation in an employee benefit plan, including an employee stock option, bonus, or ownership plan, if: (301)

(A) the sole purpose of the plan is to compensate employees with an ownership interest in the person for services rendered; and (302)

(B) the employee does not knowingly participate in or consider any matter concerning the person until the spouse or other related person no longer owns equity securities issued by the person. (303)

(g) The banking commissioner may adopt employment policies relating to this section, including policies to: (304)

(1) require employees to notify the department of possible conflicts of interest; (305)

(2) specify the manner or extent of required recusal; (306)

(3) define the circumstances under which adverse employment action may be taken; and (307)

(4) impose more restrictive requirements on senior officers of the department for whom recusal is not viable or consistent with the prudent exercise of the department's responsibilities. (308)

(h) The finance commission may adopt rules to administer this section, including rules to: (309)

(1) codify employment policies of the banking commissioner adopted under Subsection (g); (310)

(2) define or further define terms used by this section; and (311)

(3) establish limits, requirements, or exemptions other than those specified by this section, except that an exempted employee must be recused from participation in or consideration of all regulatory matters specifically concerning the person to whom the exempted indebtedness is owed or the financial interest relates. (312)

(i) Before the 11th day after the date on which an employee begins employment with the department, the employee shall read the conflict-of-interest statutes, rules, and policies applicable to employees of the department and sign a notarized affidavit stating that the employee has read those statutes, rules, and policies. (313)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 699, Sec. 1, eff. Sept. 1, 2001; Acts 2001, 77th Leg., ch. 412, Sec. 1.04, eff. Sept. 1, 2001; Acts 2003, 78th Leg., ch. 1276, Sec. 8.001, eff. Sept. 1, 2003. (314)

Sec. 12.108. CONSUMER INFORMATION AND COMPLAINTS. (315)(1-click HTML)

(a) The banking commissioner shall: (316)

(1) prepare information of consumer interest describing: (317)

(A) the regulatory functions of the department; and (318)

(B) the department's procedures by which consumer complaints are filed with and resolved by the department; and (319)

(2) make the information available to the public and appropriate state agencies. (320)

(b) The department shall maintain a file on each written complaint filed with the department. The file must include: (321)

(1) the name of the person who filed the complaint; (322)

(2) the date the complaint is received by the department; (323)

(3) the subject matter of the complaint; (324)

(4) the name of each person contacted in relation to the complaint; (325)

(5) a summary of the results of the review or investigation of the complaint; and (326)

(6) an explanation of the reason the file was closed. (327)

(c) The department shall provide to the person filing the complaint and to each person who is a subject of the complaint a written summary of the department's policies and procedures relating to complaint investigation and resolution. (328)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 699, Sec. 2, eff. Sept. 1, 2001. (329)

Sec. 12.1085. FINANCIAL LITERACY PROGRAM. (330)(1-click HTML)

(a) The department shall seek to improve the financial literacy and education of persons in this state and to encourage access to mainstream financial products and services by persons who have not previously participated in the conventional finance system, by: (331)

(1) coordinating, encouraging, and aiding banks in the development and promotion of financial literacy and education programs and community outreach; (332)

(2) serving as a clearinghouse of information about financial literacy and education programs; (333)

(3) creating and maintaining a resource bank of materials pertaining to financial literacy; and (334)

(4) promoting replication of best practices and exemplary programs that foster financial literacy and education. (335)

(b) The department may solicit and accept a gift, grant, or donation from any source, including a foundation, private entity, governmental entity, or institution of higher education, to assist in the implementation of this section. (336)

Added by Acts 2007, 80th Leg., R.S., Ch. 110 (H.B. 2007), Sec. 1, eff. September 1, 2007. (337)

Sec. 12.109. SUNSET PROVISION. (338)(1-click HTML)

The office of banking commissioner is subject to Chapter 325, Government Code (Texas Sunset Act). Unless continued in existence as provided by that chapter, the office is abolished September 1, 2019. (339)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 699, Sec. 3, eff. Sept. 1, 2001. (340)

Amended by: (341)

Acts 2011, 82nd Leg., R.S., Ch. 1232 (S.B. 652), Sec. 2.03, eff. June 17, 2011. (342)

Acts 2013, 83rd Leg., R.S., Ch. 1279 (H.B. 1675), Sec. 3.03, eff. June 14, 2013. (343)

Sec. 12.111. STANDARDS OF CONDUCT. (344)(1-click HTML)

The banking commissioner or the banking commissioner's designee shall provide to agency employees, as often as necessary, information regarding the requirements for office or employment under this chapter, including information regarding a person's responsibilities under applicable laws relating to standards of conduct for state officers or employees. (345)

Added by Acts 2001, 77th Leg., ch. 699, Sec. 4, eff. Sept. 1, 2001. (346)

Sec. 12.112. EQUAL EMPLOYMENT OPPORTUNITY POLICY. (347)(1-click HTML)

(a) The banking commissioner or the banking commissioner's designee shall prepare and maintain a written policy statement that implements a program of equal employment opportunity to ensure that all personnel decisions are made without regard to race, color, disability, sex, religion, age, or national origin. (348)

(b) The policy statement must include: (349)

(1) personnel policies, including policies relating to recruitment, evaluation, selection, training, and promotion of personnel, that show the intent of the department to avoid the unlawful employment practices described by Chapter 21, Labor Code; and (350)

(2) an analysis of the extent to which the composition of the department's personnel is in accordance with state and federal law and a description of reasonable methods to achieve compliance with state and federal law. (351)

(c) The policy statement must: (352)

(1) be updated annually; (353)

(2) be reviewed by the state Commission on Human Rights for compliance with Subsection (b)(1); and (354)

(3) be filed with the governor's office. (355)

Added by Acts 2001, 77th Leg., ch. 699, Sec. 4, eff. Sept. 1, 2001. (356)

CHAPTER 13. DEPARTMENT OF SAVINGS AND MORTGAGE LENDING (357)(1-click HTML)

Sec. 13.001. DEFINITIONS. (358)(1-click HTML)

The definitions provided by Section 31.002 apply to this chapter. (359)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (360)

Sec. 13.0015. NAME CHANGES. (361)(1-click HTML)

(a) The Savings and Loan Department is renamed the Department of Savings and Mortgage Lending and the savings and loan commissioner is renamed the savings and mortgage lending commissioner. (362)

(b) A reference in a statute or rule to the Savings and Loan Department means the Department of Savings and Mortgage Lending. (363)

(c) A reference in a statute or rule to the savings and loan commissioner means the savings and mortgage lending commissioner. (364)

Added by Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 3.02, eff. September 1, 2005. (365)

Sec. 13.002. SAVINGS AND MORTGAGE LENDING COMMISSIONER. (366)(1-click HTML)

(a) The savings and mortgage lending commissioner is the chief executive officer of the Department of Savings and Mortgage Lending. The finance commission shall appoint the savings and mortgage lending commissioner. The savings and mortgage lending commissioner serves at the will of the finance commission and is subject to the finance commission's orders and direction. (367)

(b) The savings and mortgage lending commissioner must have not less than five years' experience in the executive management of a savings association or savings bank or in savings association or savings bank supervision during the 10 years preceding the commissioner's appointment. (368)

(c) The finance commission shall set the compensation of the savings and mortgage lending commissioner. The compensation shall be paid from money of the Department of Savings and Mortgage Lending. (369)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 867, Sec. 15, eff. Sept. 1, 2001. (370)

Amended by: (371)

Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 6.013, eff. September 1, 2007. (372)

Acts 2013, 83rd Leg., R.S., Ch. 464 (S.B. 1008), Sec. 1, eff. September 1, 2013. (373)

Acts 2015, 84th Leg., R.S., Ch. 367 (H.B. 3536), Sec. 2, eff. September 1, 2015. (374)

Sec. 13.003. DEPUTY COMMISSIONERS. (375)(1-click HTML)

(a) The savings and mortgage lending commissioner shall appoint one or more deputy savings and mortgage lending commissioners. (376)

(b) One deputy savings and mortgage lending commissioner must have the qualifications required of the savings and mortgage lending commissioner. During the savings and mortgage lending commissioner's absence or inability to serve, that deputy savings and mortgage lending commissioner has the powers and shall perform the duties of the savings and mortgage lending commissioner. (377)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (378)

Amended by: (379)

Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 6.014, eff. September 1, 2007. (380)

Sec. 13.004. EXAMINERS. (381)(1-click HTML)

The savings and mortgage lending commissioner shall appoint savings association and savings bank examiners. (382)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (383)

Amended by: (384)

Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 6.015, eff. September 1, 2007. (385)

Sec. 13.006. OATH OF OFFICE. (386)(1-click HTML)

Before assuming the duties of office, each deputy savings and mortgage lending commissioner, examiner, assistant examiner, conservator, supervisor, and special agent and each other officer or employee specified by the savings and mortgage lending commissioner must take an oath of office to discharge faithfully the duties assigned and uphold the constitution and laws of this state and the United States. (387)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (388)

Amended by: (389)

Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 6.017, eff. September 1, 2007. (390)

Sec. 13.007. GENERAL POWERS AND DUTIES OF COMMISSIONER. (391)(1-click HTML)

The savings and mortgage lending commissioner shall: (392)

(1) supervise and regulate the organization, operation, and liquidation of state savings associations, as provided by Subtitle B, Title 3, and state savings banks, as provided by Subtitle C, Title 3; and (393)

(2) enforce those subtitles personally or through a deputy savings and mortgage lending commissioner, examiner, supervisor, conservator, or other agent. (394)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (395)

Amended by: (396)

Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 6.018, eff. September 1, 2007. (397)

Sec. 13.009. CONFLICTS OF LAW. (398)(1-click HTML)

If this chapter conflicts with Subtitle B or C, Title 3, this chapter controls. (399)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (400)

Sec. 13.010. CONFLICTS OF INTEREST. (401)(1-click HTML)

(a) In this section, "Texas trade association" means a cooperative and voluntarily joined association of business or professional competitors in this state designed to assist its members and its industry or profession in dealing with mutual business or professional problems and in promoting their common interest. (402)

(b) A person may not be a Department of Savings and Mortgage Lending employee employed in a "bona fide executive, administrative, or professional capacity," as that phrase is used for purposes of establishing an exemption to the overtime provisions of the federal Fair Labor Standards Act of 1938 (29 U.S.C. Section 201 et seq.), and its subsequent amendments, if: (403)

(1) the person is an officer, employee, or paid consultant of a Texas trade association in a field regulated by the Department of Savings and Mortgage Lending; or (404)

(2) the person's spouse is an officer, manager, or paid consultant of a Texas trade association in a field regulated by the Department of Savings and Mortgage Lending. (405)

(c) A person may not act as the general counsel to the Department of Savings and Mortgage Lending if the person is required to register as a lobbyist under Chapter 305, Government Code, because of the person's activities for compensation on behalf of a profession related to the operation of the Department of Savings and Mortgage Lending. (406)

(d) Before the 11th day after the date on which an employee begins employment with the Department of Savings and Mortgage Lending, the employee shall read the conflict-of-interest statutes applicable to employees of the Department of Savings and Mortgage Lending and sign a notarized affidavit stating that the employee has read those statutes. (407)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 337, Sec. 1, eff. Sept. 1, 2001. (408)

Amended by: (409)

Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 6.020, eff. September 1, 2007. (410)

Sec. 13.011. CONSUMER INFORMATION AND COMPLAINTS. (411)(1-click HTML)

(a) The savings and mortgage lending commissioner shall prepare information of consumer interest describing: (412)

(1) the regulatory functions of the Department of Savings and Mortgage Lending; and (413)

(2) the procedures by which consumer complaints are filed with and resolved by the Department of Savings and Mortgage Lending. (414)

(b) The information under Subsection (a) must be made available to the public and appropriate state agencies. (415)

(c) The Department of Savings and Mortgage Lending shall maintain a file on each written complaint filed with the Department of Savings and Mortgage Lending. The file must include: (416)

(1) the name of the person who filed the complaint; (417)

(2) the date the complaint is received by the Department of Savings and Mortgage Lending; (418)

(3) the subject matter of the complaint; (419)

(4) the name of each person contacted in relation to the complaint; (420)

(5) a summary of the results of the review or investigation of the complaint; and (421)

(6) an explanation of the reason the file was closed, if the agency closed the file without taking action other than to investigate the complaint. (422)

(d) The Department of Savings and Mortgage Lending shall provide to the person filing the complaint and to each person who is a subject of the complaint a copy of the Department of Savings and Mortgage Lending's policies and procedures relating to complaint investigation and resolution. (423)

(e) The Department of Savings and Mortgage Lending, at least quarterly until final disposition of the complaint, shall notify the person filing the complaint and each person who is a subject of the complaint of the status of the investigation unless the notice would jeopardize an undercover investigation. (424)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 337, Sec. 2, eff. Sept. 1, 2001. (425)

Amended by: (426)

Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 6.021, eff. September 1, 2007. (427)

Sec. 13.012. SUNSET PROVISION. (428)(1-click HTML)

The office of savings and mortgage lending commissioner and the Department of Savings and Mortgage Lending are subject to Chapter 325, Government Code (Texas Sunset Act). Unless continued in existence as provided by that chapter, the office and department are abolished September 1, 2019. (429)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 337, Sec. 3, eff. Sept. 1, 2001. (430)

Amended by: (431)

Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 6.022, eff. September 1, 2007. (432)

Acts 2011, 82nd Leg., R.S., Ch. 1232 (S.B. 652), Sec. 2.04, eff. June 17, 2011. (433)

Acts 2013, 83rd Leg., R.S., Ch. 1279 (H.B. 1675), Sec. 3.04, eff. June 14, 2013. (434)

Sec. 13.013. STANDARDS OF CONDUCT. (435)(1-click HTML)

The savings and mortgage lending commissioner or the savings and mortgage lending commissioner's designee shall provide to agency employees, as often as necessary, information regarding the requirements for office or employment under this chapter, including information regarding a person's responsibilities under applicable laws relating to standards of conduct for state officers or employees. (436)

Added by Acts 2001, 77th Leg., ch. 337, Sec. 4, eff. Sept. 1, 2001. (437)

Amended by: (438)

Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 6.023, eff. September 1, 2007. (439)

Sec. 13.014. EQUAL EMPLOYMENT OPPORTUNITY POLICY. (440)(1-click HTML)

(a) The savings and mortgage lending commissioner or the savings and mortgage lending commissioner's designee shall prepare and maintain a written policy statement that implements a program of equal employment opportunity to ensure that all personnel decisions are made without regard to race, color, disability, sex, religion, age, or national origin. (441)

(b) The policy statement must include: (442)

(1) personnel policies, including policies relating to recruitment, evaluation, selection, training, and promotion of personnel, that show the intent of the Department of Savings and Mortgage Lending to avoid the unlawful employment practices described by Chapter 21, Labor Code; and (443)

(2) an analysis of the extent to which the composition of the Department of Savings and Mortgage Lending personnel is in accordance with state and federal law and a description of reasonable methods to achieve compliance with state and federal law. (444)

(c) The policy statement must: (445)

(1) be updated annually; (446)

(2) be reviewed by the state Commission on Human Rights for compliance with Subsection (b)(1); and (447)

(3) be filed with the governor's office. (448)

Added by Acts 2001, 77th Leg., ch. 337, Sec. 4, eff. Sept. 1, 2001. (449)

Amended by: (450)

Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 6.024, eff. September 1, 2007. (451)

Sec. 13.016. RECOVERY FUND. (452)(1-click HTML)

(a) The savings and mortgage lending commissioner shall establish, administer, and maintain one recovery fund for the purposes of Chapters 156 and 157. The recovery fund shall be administered and maintained under Subchapter F, Chapter 156. (453)

(b) The savings and mortgage lending commissioner's authority under this section includes the authority to: (454)

(1) set fee amounts under Chapters 156 and 157 for deposit in the recovery fund; and (455)

(2) enforce disciplinary action as provided by Chapters 156 and 157 for a person's failure to comply with the applicable provisions of those chapters relating to the recovery fund and with applicable rules adopted under those chapters. (456)

Added by Acts 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124), Sec. 2, eff. September 1, 2011. (457)

CHAPTER 14. CONSUMER CREDIT COMMISSIONER (458)(1-click HTML)

Sec. 14.001. DEFINITIONS. (459)(1-click HTML)

(a) In this chapter: (460)

(1) "Document" includes books, accounts, correspondence, records, and papers. (461)

(2) "Office" means the Office of Consumer Credit Commissioner. (462)

(b) The definitions provided by Section 341.001 apply to this chapter. (463)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (464)

SUBCHAPTER B. OPERATION OF OFFICE (465)(1-click HTML)
Sec. 14.051. CONSUMER CREDIT COMMISSIONER. (466)(1-click HTML)

(a) The finance commission shall appoint the commissioner. (467)

(b) The commissioner: (468)

(1) serves at the will of the commission; and (469)

(2) is subject to orders and directions of the commission. (470)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 867, Sec. 17, eff. Sept. 1, 2001. (471)

Sec. 14.052. DIVISION OF CONSUMER PROTECTION. (472)(1-click HTML)

The division of consumer protection is a division in the office and is under the direction of the commissioner. (473)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (474)

Sec. 14.054. OATH OF OFFICE. (475)(1-click HTML)

Before assuming the duties of office, the commissioner and each assistant commissioner, examiner, and other employee of the office must take an oath of office. (476)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2003, 78th Leg., ch. 285, Sec. 7, eff. Sept. 1, 2003. (477)

Sec. 14.055. LIABILITY. (478)(1-click HTML)

(a) The commissioner or an assistant commissioner, examiner, or other employee of the office is not personally liable for damages arising from the person's official act or omission unless the act or omission is corrupt or malicious. (479)

(b) The attorney general shall defend an action brought against a person because of an official act or omission under Subsection (a) regardless of whether the person has terminated service with the office when the action is instituted. (480)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (481)

Sec. 14.056. CONFLICT OF INTEREST. (482)(1-click HTML)

(a) In this section, "Texas trade association" means a cooperative and voluntarily joined association of business or professional competitors in this state designed to assist its members and its industry or profession in dealing with mutual business or professional problems and in promoting their common interest. (483)

(b) A person may not be an employee of the office employed in a "bona fide executive, administrative, or professional capacity," as that phrase is used for purposes of establishing an exemption to the overtime provisions of the federal Fair Labor Standards Act of 1938 (29 U.S.C. Section 201 et seq.), and its subsequent amendments, if: (484)

(1) the person is an officer, employee, or paid consultant of a Texas trade association in an industry regulated by the office; or (485)

(2) the person's spouse is an officer, manager, or paid consultant of a Texas trade association in an industry regulated by the office. (486)

(c) A person may not act as the general counsel to the office if the person is required to register as a lobbyist under Chapter 305, Government Code, because of the person's activities for compensation on behalf of a profession related to the operation of the office. (487)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 1235, Sec. 1, eff. Sept. 1, 2001. (488)

Sec. 14.057. PERFORMANCE EVALUATIONS; MERIT PAY. (489)(1-click HTML)

(a) The commissioner or a person designated by the commissioner shall develop a system of annual employee performance evaluations based on measurable job tasks. (490)

(b) Merit pay for employees of the office must be based on the system established under this section. (491)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (492)

Sec. 14.058. EQUAL EMPLOYMENT OPPORTUNITY. (493)(1-click HTML)

(a) The commissioner or the commissioner's designee shall prepare and maintain a written policy statement that implements a program of equal employment opportunity to ensure that all personnel decisions are made without regard to race, color, disability, sex, religion, age, or national origin. (494)

(b) The policy statement must include: (495)

(1) personnel policies, including policies relating to recruitment, evaluation, selection, training, and promotion of personnel, that show the intent of the office to avoid the unlawful employment practices described by Chapter 21, Labor Code; and (496)

(2) an analysis of the extent to which the composition of the office's personnel is in accordance with state and federal law and a description of reasonable methods to achieve compliance with state and federal law. (497)

(c) The policy statement must: (498)

(1) be updated annually; (499)

(2) be reviewed by the state Commission on Human Rights for compliance with Subsection (b)(1); and (500)

(3) be filed with the governor's office. (501)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 1235, Sec. 2, eff. Sept. 1, 2001. (502)

Sec. 14.059. INTRA-AGENCY CAREER LADDER. (503)(1-click HTML)

(a) The commissioner or a person designated by the commissioner shall develop an intra-agency career ladder program. (504)

(b) The program must require intra-agency posting of all nonentry level positions for at least 10 days before public posting. (505)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (506)

Sec. 14.061. COST OF AUDIT. (507)(1-click HTML)

The cost of an audit of the office under Chapter 321, Government Code, shall be paid to the state auditor from the funds of the office. (508)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (509)

Sec. 14.062. CONSUMER INFORMATION AND COMPLAINTS. (510)(1-click HTML)

(a) The office shall maintain a file on each written complaint filed with the office. The file must include: (511)

(1) the name of the person who filed the complaint; (512)

(2) the date the complaint is received by the office; (513)

(3) the subject matter of the complaint; (514)

(4) the name of each person contacted in relation to the complaint; (515)

(5) a summary of the results of the review or investigation of the complaint; and (516)

(6) an explanation of the reason the file was closed, if the office closed the file without taking action other than to investigate the complaint. (517)

(b) The office shall provide to the person filing the complaint and to each person who is a subject of the complaint a copy of the office's policies and procedures relating to complaint investigation and resolution. (518)

(c) The office, at least quarterly until final disposition of the complaint, shall notify the person filing the complaint and each person who is a subject of the complaint of the status of the investigation unless the notice would jeopardize an undercover investigation. (519)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 1235, Sec. 3, eff. Sept. 1, 2001. (520)

Sec. 14.063. APPLICATION OF OPEN MEETINGS LAW. (521)(1-click HTML)

The office is a governmental body subject to Chapter 551, Government Code. (522)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (523)

Sec. 14.064. CONSUMER INFORMATION. (524)(1-click HTML)

The commissioner shall: (525)

(1) prepare information of consumer interest describing: (526)

(A) the regulatory functions of the office; and (527)

(B) the office's procedures by which consumer complaints are filed with and resolved by the office; and (528)

(2) make the information available to the public and appropriate state agencies. (529)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (530)

Sec. 14.065. OFFICE EMPLOYEES. (531)(1-click HTML)

The commissioner may appoint, remove, and prescribe the duties of assistant commissioners, examiners, and other employees as necessary to maintain and operate the office, including the division of consumer protection. (532)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (533)

Sec. 14.066. SUNSET PROVISION. (534)(1-click HTML)

The office is subject to Chapter 325, Government Code (Texas Sunset Act). Unless continued in existence as provided by that chapter, the office is abolished September 1, 2019. (535)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 1235, Sec. 4, eff. Sept. 1, 2001. (536)

Amended by: (537)

Acts 2011, 82nd Leg., R.S., Ch. 1232 (S.B. 652), Sec. 2.05, eff. June 17, 2011. (538)

Acts 2013, 83rd Leg., R.S., Ch. 1279 (H.B. 1675), Sec. 3.05, eff. June 14, 2013. (539)

SUBCHAPTER C. POWERS AND DUTIES OF COMMISSIONER (540)(1-click HTML)
Sec. 14.101. GENERAL DUTIES OF COMMISSIONER. (541)(1-click HTML)

The commissioner shall enforce Section 339.001, this chapter, Subtitles B and C of Title 4, Chapter 393 with respect to a credit access business, and Chapter 394 in person or through an assistant commissioner, examiner, or other employee of the office. (542)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (543)

Amended by: (544)

Acts 2011, 82nd Leg., R.S., Ch. 1302 (H.B. 2594), Sec. 3, eff. January 1, 2012. (545)

Acts 2013, 83rd Leg., R.S., Ch. 63 (H.B. 2548), Sec. 2, eff. September 1, 2013. (546)

Sec. 14.102. EDUCATIONAL AND DEBT COUNSELING PROGRAMS. (547)(1-click HTML)

The commissioner shall coordinate, encourage, and assist public and private agencies, organizations, groups, and consumer credit institutions in developing and operating voluntary educational and debt counseling programs designed to promote prudent and beneficial use of consumer credit by residents of this state. (548)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (549)

Sec. 14.1025. FINANCIAL LITERACY PROGRAM INFORMATION. (550)(1-click HTML)

(a) In this section: (551)

(1) "Financial literacy" means proficiency at managing personal finances. (552)

(2) "Health and human services agencies" has the meaning assigned by Section 531.001, Government Code. (553)

(b) The commissioner shall collect information on programs, including classes, and other resources available to the public that focus on teaching financial literacy, compile the information into a one-page document, and post the document on the office's Internet website. (554)

(c) A health and human services agency shall ensure that the document under Subsection (b) is offered to persons who receive services from the agency at locations at which those persons frequently access services provided by the agency. (555)

(d) The commissioner shall periodically update the information contained in the document described by Subsection (b). (556)

Added by Acts 2011, 82nd Leg., R.S., Ch. 538 (H.B. 2615), Sec. 1, eff. September 1, 2011. (557)

Sec. 14.103. CONSUMER PROTECTION PROGRAMS. (558)(1-click HTML)

The commissioner, through the division of consumer protection, shall coordinate, encourage, and assist public and private agencies, organizations, groups, and consumer protection institutions in developing and operating voluntary educational consumer protection programs designed to promote prudent and informed consumer action by residents of this state. (559)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (560)

Sec. 14.104. LENDER CONTRACTS. (561)(1-click HTML)

A written contract of an authorized lender subject to regulation by the office must contain the name, mailing address, and telephone number of the office. (562)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (563)

Sec. 14.105. GIFTS AND GRANTS. (564)(1-click HTML)

(a) The commissioner may accept money, gifts, or grants on behalf of the state for a purpose related to a consumer credit educational opportunity or to assist a local government in the exercise of its police power unless the acceptance is prohibited by Subsection (b) or other law. Acceptance and use of money under this subsection must be approved by the finance commission. (565)

(b) The commissioner may not accept or use money offered by: (566)

(1) a person for investigating or prosecuting a matter; or (567)

(2) a person who is affiliated with an industry that is regulated by the finance commission. (568)

(c) Money received under Subsection (a) may be appropriated only for the purpose for which the money was given. (569)

(d) The commissioner is not prohibited by Subsection (b) from receiving and using money from a person under the jurisdiction of the commissioner if the receipt and use is expressly authorized by other law. (570)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (571)

Sec. 14.106. INFORMATION REGARDING EMPLOYMENT REQUIREMENTS. (572)(1-click HTML)

The commissioner or the commissioner's designee shall provide to agency employees, as often as necessary, information regarding the requirements for employment under this chapter, including information regarding a person's responsibilities under applicable laws relating to standards of conduct for state employees. (573)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 1235, Sec. 6, eff. Sept. 1, 2001. (574)

Sec. 14.107. FEES. (575)(1-click HTML)

(a) The finance commission shall establish reasonable and necessary fees for carrying out the commissioner's powers and duties under this chapter, Title 4, Chapter 393 with respect to a credit access business, and Chapters 371, 392, and 394 and under Chapters 51, 302, 601, and 621, Business & Commerce Code. (576)

(b) The finance commission by rule shall set the fees for licensing and examination, as applicable, under Chapter 393 with respect to a credit access business or Chapter 342, 347, 348, 351, 353, or 371 at amounts or rates necessary to recover the costs of administering those chapters. The rules may provide that the amount of a fee charged to a license holder is based on the volume of the license holder's regulated business and other key factors. The commissioner may provide for collection of a single annual fee from a person licensed under Subchapter G of Chapter 393 or Chapter 342, 347, 348, 351, or 371 to include amounts due for both licensing and examination. (577)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 867, Sec. 18, eff. Sept. 1, 2001; Acts 2001, 77th Leg., ch. 1235, Sec. 7, eff. Sept. 1, 2001. (578)

Amended by: (579)

Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.15, eff. April 1, 2009. (580)

Acts 2009, 81st Leg., R.S., Ch. 1104 (H.B. 10), Sec. 2, eff. June 19, 2009. (581)

Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 1, eff. September 1, 2011. (582)

Acts 2011, 82nd Leg., R.S., Ch. 1302 (H.B. 2594), Sec. 4, eff. January 1, 2012. (583)

Sec. 14.108. INTERPRETATIONS OF LAW. (584)(1-click HTML)

(a) The commissioner may issue an interpretation of this chapter or Subtitle A or B, Title 4, after approval of the interpretation by the finance commission. (585)

(b) The provisions of Chapter 2001, Government Code, that relate to the adoption of an administrative rule do not apply to the issuance of an interpretation under this section. (586)

(c) The commissioner shall publish in the Texas Register, in a form prescribed by the finance commission, a request for an interpretation not later than the 10th day after the date on which the commissioner receives the request. (587)

(d) An interpretation approved by the finance commission shall be published in the Texas Register, in a form prescribed by the finance commission, not later than the 10th day after the date on which the finance commission has approved the interpretation. (588)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (589)

Sec. 14.109. USE OF THE NATIONWIDE MORTGAGE LICENSING SYSTEM AND REGISTRY. (590)(1-click HTML)

(a) In this section, "Nationwide Mortgage Licensing System and Registry" or "nationwide registry" means a licensing system developed and maintained by the Conference of State Bank Supervisors and an affiliated organization to manage mortgage licenses and other financial services licenses or a successor registry. (591)

(b) This section applies only to: (592)

(1) this chapter; and (593)

(2) Chapter 342, 348, 351, 393, or 394. (594)

(c) The commissioner may require that a person submit through the Nationwide Mortgage Licensing System and Registry in the form and manner prescribed by the commissioner and acceptable to the registry any information or document or payment of a fee required to be submitted to the commissioner under: (595)

(1) a chapter to which this section applies; or (596)

(2) rules adopted under the chapter. (597)

(d) The commissioner may use the nationwide registry as a channeling agent for obtaining information required for licensing or registration purposes under a chapter listed in Subsection (b)(2) or rules adopted under the chapter, including: (598)

(1) criminal history record information from the Federal Bureau of Investigation, the United States Department of Justice, or any other agency or entity at the commissioner's discretion; (599)

(2) information related to any administrative, civil, or criminal findings by a governmental jurisdiction; and (600)

(3) information requested by the commissioner under Section 342.101(a)(4), 348.502(a)(3), 351.101(a)(4), 393.604(a)(5), or 394.204(c)(8). (601)

Added by Acts 2013, 83rd Leg., R.S., Ch. 737 (S.B. 232), Sec. 1, eff. September 1, 2013. (602)

Added by Acts 2013, 83rd Leg., R.S., Ch. 943 (H.B. 1721), Sec. 1, eff. September 1, 2013. (603)

SUBCHAPTER D. CRIMINAL HISTORY RECORD INFORMATION (604)(1-click HTML)
Sec. 14.151. OBTAINING INFORMATION. (605)(1-click HTML)

(a) The commissioner or an assistant commissioner, examiner, or other employee of the office shall obtain criminal history record information maintained by the Department of Public Safety, the Federal Bureau of Investigation Identification Division, or another law enforcement agency relating to a person described by Section 411.095(a)(1), Government Code. (606)

(b) For an applicant for a license or registration, license holder, or registrant that is a business entity, the criminal history record information requirement of this section applies to an officer, director, owner, or employee of the entity or another person having a substantial relationship with the entity. (607)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (608)

Amended by: (609)

Acts 2015, 84th Leg., R.S., Ch. 256 (S.B. 1075), Sec. 2, eff. September 1, 2015. (610)

Sec. 14.152. FINGERPRINT REQUIREMENT; PENALTY. (611)(1-click HTML)

The commissioner may refuse to grant a license or registration to, or may suspend or revoke the license or registration of, an applicant, license holder, or registrant described by Section 411.095(a)(1), Government Code, who fails to provide, on request, a complete set of legible fingerprints on a fingerprint card format approved by the Department of Public Safety and the Federal Bureau of Investigation. (612)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (613)

Amended by: (614)

Acts 2015, 84th Leg., R.S., Ch. 256 (S.B. 1075), Sec. 3, eff. September 1, 2015. (615)

Sec. 14.153. ACTION BY LAW ENFORCEMENT AGENCIES. (616)(1-click HTML)

(a) The commissioner shall send fingerprints and other identification information to the Department of Public Safety to be retained by that department. (617)

(b) The Department of Public Safety shall use the information to perform a search of the state criminal history files and shall report the findings to the office. (618)

(c) The Department of Public Safety shall send fingerprints and other identification information to the Federal Bureau of Investigation so that the bureau can perform a search of its criminal history files. (619)

(d) The Department of Public Safety shall notify the office of activity reported to the crime records division that identifies a person with a record maintained under this subchapter. (620)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (621)

Sec. 14.154. CONFIDENTIALITY. (622)(1-click HTML)

(a) Criminal history record information received by the office is confidential and is for the exclusive use of the office. (623)

(b) Repealed by Acts 2015, 84th Leg., R.S., Ch. 256 , Sec. 7, eff. September 1, 2015. (624)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (625)

Amended by: (626)

Acts 2015, 84th Leg., R.S., Ch. 256 (S.B. 1075), Sec. 7, eff. September 1, 2015. (627)

Sec. 14.155. DISCLOSURE. (628)(1-click HTML)

(629)

(a) The office may not release or disclose criminal history record information obtained from the Department of Public Safety, Federal Bureau of Investigation Identification Division, or other law enforcement agency, except as provided by Section 411.095(b), Government Code. (630)

(b) Repealed by Acts 2015, 84th Leg., R.S., Ch. 256 , Sec. 7, eff. September 1, 2015. (631)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (632)

Amended by: (633)

Acts 2015, 84th Leg., R.S., Ch. 256 (S.B. 1075), Sec. 4, eff. September 1, 2015. (634)

Acts 2015, 84th Leg., R.S., Ch. 256 (S.B. 1075), Sec. 5, eff. September 1, 2015. (635)

Acts 2015, 84th Leg., R.S., Ch. 256 (S.B. 1075), Sec. 7, eff. September 1, 2015. (636)

Sec. 14.156. RECOVERY OF COSTS. (637)(1-click HTML)

In addition to an investigation fee paid to the commissioner by an applicant for a license or registration, the commissioner is entitled to recover from an applicant, license holder, or registrant the cost of processing an inquiry to determine whether the person has a criminal history record. (638)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (639)

Amended by: (640)

Acts 2015, 84th Leg., R.S., Ch. 256 (S.B. 1075), Sec. 6, eff. September 1, 2015. (641)

Sec. 14.157. RULES. (642)(1-click HTML)

The finance commission shall adopt rules governing the custody and use of information obtained under this subchapter. (643)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 867, Sec. 19, eff. Sept. 1, 2001. (644)

SUBCHAPTER E. INVESTIGATION AND ENFORCEMENT (645)(1-click HTML)
Sec. 14.201. INVESTIGATION AND ENFORCEMENT AUTHORITY. (646)(1-click HTML)

Investigative and enforcement authority under this subchapter applies only to Section 339.001, this chapter, Subtitles B and C of Title 4, Chapter 393 with respect to a credit access business, and Chapter 394. (647)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (648)

Amended by: (649)

Acts 2011, 82nd Leg., R.S., Ch. 1302 (H.B. 2594), Sec. 5, eff. January 1, 2012. (650)

Acts 2013, 83rd Leg., R.S., Ch. 63 (H.B. 2548), Sec. 3, eff. September 1, 2013. (651)

Sec. 14.2015. CONFIDENTIALITY OF CERTAIN INFORMATION. (652)(1-click HTML)

(653)

(a) Except as provided by Subsection (b), information or material obtained or compiled by the commissioner in relation to an examination or investigation by the commissioner or the commissioner's representative of a license holder, registrant, applicant, or other person under Section 339.001, Subtitle B or C, Title 4, Subchapter G of Chapter 393, or Chapter 394 is confidential and may not be disclosed by the commissioner or an officer or employee of the Office of Consumer Credit Commissioner, including: (654)

(1) information obtained from a license holder, registrant, applicant, or other person examined or investigated under Section 339.001, Subtitle B or C, Title 4, Subchapter G of Chapter 393, or Chapter 394; (655)

(2) work performed by the commissioner or the commissioner's representative on information obtained from a license holder, registrant, applicant, or other person for the purposes of an examination or investigation conducted under Section 339.001, Subtitle B or C, Title 4, Chapter 393 with respect to a credit access business, or Chapter 394; (656)

(3) a report on an examination or investigation of a license holder, registrant, applicant, or other person conducted under Section 339.001, Subtitle B or C, Title 4, Chapter 393 with respect to a credit access business, or Chapter 394; and (657)

(4) any written communications between the license holder, registrant, applicant, or other person, as applicable, and the commissioner or the commissioner's representative relating to or referencing an examination or investigation conducted under Section 339.001, Subtitle B or C, Title 4, Chapter 393 with respect to a credit access business, or Chapter 394. (658)

(b) The commissioner or the commissioner's representative may disclose the confidential information or material described by Subsection (a): (659)

(1) to a department, agency, or instrumentality of this state or the United States if the commissioner considers disclosure to be necessary or proper to the enforcement of the laws of this state or the United States and in the best interest of the public; (660)

(2) if the license holder, registrant, applicant, or other person consents to the release of the information or has published the information contained in the release; or (661)

(3) if the commissioner determines that release of the information is required for an administrative hearing. (662)

Added by Acts 2009, 81st Leg., R.S., Ch. 1382 (S.B. 1620), Sec. 3, eff. September 1, 2009. (663)

Amended by: (664)

Acts 2011, 82nd Leg., R.S., Ch. 1182 (H.B. 3453), Sec. 1, eff. September 1, 2011. (665)

Acts 2011, 82nd Leg., R.S., Ch. 1302 (H.B. 2594), Sec. 6, eff. January 1, 2012. (666)

Acts 2013, 83rd Leg., R.S., Ch. 63 (H.B. 2548), Sec. 4, eff. September 1, 2013. (667)

Acts 2013, 83rd Leg., R.S., Ch. 161 (S.B. 1093), Sec. 8.001, eff. September 1, 2013. (668)

Sec. 14.2016. INFORMATION SHARING WITH DEPARTMENTS AND AGENCIES. (669)(1-click HTML)

To ensure consistent enforcement of law and minimization of regulatory burdens, the commissioner may share information, including criminal history or confidential information, relating to a license holder, registrant, applicant, or other person investigated or examined under the commissioner's authority with a department, agency, or instrumentality of this state, another state, or the United States if the commissioner considers the disclosure of the information to be necessary or proper to the enforcement of the laws of this state or the United States and in the best interest of the public. Information otherwise confidential remains confidential after the information is shared under this section. (670)

Added by Acts 2011, 82nd Leg., R.S., Ch. 1182 (H.B. 3453), Sec. 2, eff. September 1, 2011. (671)

Sec. 14.202. REQUEST FOR INFORMATION; FAILURE TO COMPLY. (672)(1-click HTML)

(a) On receipt of a written complaint or other reasonable cause to believe that a person is violating a statute listed by Section 14.201, the commissioner may require the person to furnish information regarding a specific loan, retail transaction, or business practice to which the violation relates. (673)

(b) If a person fails to furnish the information requested by the commissioner, the commissioner may conduct an investigation to determine whether a violation exists. (674)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (675)

Sec. 14.203. ISSUANCE OF SUBPOENA OR SUMMONS. (676)(1-click HTML)

(a) During an investigation, the commissioner may issue a subpoena or summons that is addressed to a peace officer of this state and requires the attendance and testimony of a witness or the production of a document. (677)

(b) A document that is necessary to continue the business of a person under investigation may not be removed from the office or place of business of that person, but the commissioner may: (678)

(1) examine, or cause to be examined, the document at the office or place of business; and (679)

(2) require a copy to be made of a part of the document related to a matter under investigation. (680)

(c) A copy of a document made under Subsection (b)(2) must be verified by the affidavit of the person under investigation or by an officer of that person. (681)

(d) On the commissioner's certification, a copy of a document made under Subsection (b)(2) is admissible in evidence in an: (682)

(1) investigation or hearing under this subchapter or under a statute to which this subchapter applies; or (683)

(2) appeal to the district court. (684)

(e) To implement this section, the commissioner may sign a subpoena, administer an oath or affirmation, examine a witness, or receive evidence. (685)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (686)

Sec. 14.204. ENFORCEMENT OF SUBPOENA; CONTEMPT. (687)(1-click HTML)

(a) If a person disobeys a subpoena or if a witness appearing before the commissioner refuses to testify, the commissioner may petition the district court of a jurisdiction in which the person or witness may be found, and the court on this petition may issue an order requiring the person or witness to obey the subpoena, testify, or produce a document relating to the matter in issue, as applicable. The court shall treat the application in the same manner as a motion in a civil suit. (688)

(b) The court shall promptly set an application to enforce a subpoena under Subsection (a) for hearing and shall cause notice of the application and the hearing to be served on the person to whom the subpoena is directed. Notice may be served by a peace officer of this state. (689)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (690)

Sec. 14.205. INVESTIGATION BY HEARING OFFICER. (691)(1-click HTML)

(a) During an investigation described by this subchapter, the commissioner may appoint a hearing officer to conduct the investigation. (692)

(b) On appointment, a hearing officer has the same authority as the commissioner to conduct the investigation, except that the hearing officer may not issue an order on the subject of the investigation. (693)

(c) The commissioner may consider the record of an investigation conducted before a hearing officer in the same manner and to the same extent as in a hearing before the commissioner. (694)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (695)

Sec. 14.206. FEES AND EXPENSES. (696)(1-click HTML)

(a) The fee for serving a subpoena under this subchapter is the same as that paid a sheriff or constable for performing a similar service. (697)

(b) A witness required to attend a hearing before the commissioner shall receive for each day's attendance a fee and a travel and transportation allowance as authorized by law or a rule adopted by the finance commission. (698)

(c) A fee under Subsection (b) is not payable until the witness appears at the hearing. (699)

(d) A disbursement made in payment of a fee under this section shall be included in, and paid in the same manner that is provided for, other expenses incurred in the administration and enforcement of the statutes to which this subchapter applies. (700)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 867, Sec. 20, eff. Sept. 1, 2001. (701)

Sec. 14.207. IMPOSITION OF COSTS ON PARTIES. (702)(1-click HTML)

The commissioner may impose on a party in interest of record fees, expenses, or costs incurred in connection with a hearing or may divide the fee or expense among any or all interested parties as determined by the commissioner. (703)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (704)

Sec. 14.208. INJUNCTION; APPEAL. (705)(1-click HTML)

(a) If the commissioner has reasonable cause to believe that a person is violating a statute to which this chapter applies, the commissioner, in addition to any other authorized action, may issue an order to cease and desist from the violation or an order to take affirmative action, or both, to enforce compliance. A person may appeal the order to the finance commission as provided by Subsection (d) or directly to district court in accordance with Chapter 2001, Government Code. (706)

(b) If a person against whom an order under this section is made requests a hearing not later than the 30th day after the date the order is served, the commissioner shall set and give notice of a hearing before a hearings officer. The hearing is governed by Chapter 2001, Government Code. Based on the findings of fact, conclusions of law, and recommendations of the hearings officer, the commissioner by order may find whether a violation has occurred. (707)

(c) If a hearing is not timely requested under Subsection (b), the order is considered final and becomes enforceable. The commissioner, after giving notice, may impose against a person who violates a cease and desist order an administrative penalty in an amount not to exceed $1,000 for each day of violation. In addition to any other remedy provided by law, the commissioner on relation of the attorney general may institute in district court a suit for injunctive relief and to collect an administrative penalty. A bond is not required of the commissioner with respect to injunctive relief granted under this section. In the action, the court may enter as proper an order awarding a preliminary or final injunction. (708)

(d) If a party seeks review of the order by the finance commission, the party shall file a petition for review with the finance commission not later than the 30th day after the date of the issuance of the commissioner's decision. The finance commission may affirm, vacate, or modify an order issued by the commissioner. A party aggrieved by a final decision of the finance commission is entitled to judicial review. The party may appeal the decision of the finance commission by the filing of a motion for rehearing with the finance commission and then filing a petition initiating judicial review. (709)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (710)

Amended by: (711)

Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 4.01, eff. September 1, 2005. (712)

Sec. 14.209. APPOINTMENT OF RECEIVER. (713)(1-click HTML)

(a) In addition to other remedies for the enforcement of a restraining order or injunction, the court in which an action is brought under Section 14.208(b) may impound and appoint a receiver for the defendant's property and business, including a document relating to the property or business, as the court considers reasonably necessary to prevent a violation through use of the property and business. (714)

(b) On appointment and qualification, a receiver has the powers and duties of a receiver under Chapter 64, Civil Practice and Remedies Code. (715)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (716)

SUBCHAPTER F. ADMINISTRATIVE PENALTY; RESTITUTION ORDER; ASSURANCE OF VOLUNTARY COMPLIANCE (717)(1-click HTML)
Sec. 14.251. ASSESSMENT OF PENALTY; RESTITUTION ORDER. (718)(1-click HTML)

(a) The commissioner may assess an administrative penalty against a person who knowingly and wilfully violates or causes a violation of this chapter, Chapter 394, or Subtitle B, Title 4, or a rule adopted under this chapter, Chapter 394, or Subtitle B, Title 4. (719)

(a-1) The commissioner shall assess an administrative penalty against a credit access business who knowingly and wilfully violates or causes a violation of Chapter 393, or a rule adopted under Chapter 393. (720)

(b) The commissioner may order a person who violates or causes a violation of Section 339.001, this chapter, Chapter 394, or Subtitle B, Title 4, or a rule adopted under Section 339.001, this chapter, Chapter 394, or Subtitle B, Title 4, or a credit access business who violates or causes a violation of Chapter 393 or a rule adopted under Chapter 393, to make restitution to an identifiable person injured by the violation. (721)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.29, eff. Sept. 1, 1999. (722)

Amended by: (723)

Acts 2011, 82nd Leg., R.S., Ch. 1302 (H.B. 2594), Sec. 7, eff. January 1, 2012. (724)

Acts 2013, 83rd Leg., R.S., Ch. 63 (H.B. 2548), Sec. 5, eff. September 1, 2013. (725)

Sec. 14.252. AMOUNT OF PENALTY. (726)(1-click HTML)

(a) The commissioner may assess an administrative penalty for a violation in an amount not to exceed $1,000 for each day of the violation. (727)

(b) The aggregate amount of penalties under this subchapter that the commissioner may assess against a person during one calendar year may not exceed the lesser of: (728)

(1) $100,000; or (729)

(2) an amount that is equal to the greater of five percent of the net worth of the creditor or $5,000. (730)

(c) In determining the amount of an administrative penalty, the commissioner shall consider: (731)

(1) the seriousness of the violation, including the nature, circumstances, extent, and gravity of the prohibited act; (732)

(2) the extent of actual or potential harm to a third party; (733)

(3) the history of violations; (734)

(4) the amount necessary to deter future violations; (735)

(5) efforts to correct the violation; and (736)

(6) any other matter that justice may require. (737)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (738)

Amended by: (739)

Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 4.03, eff. September 1, 2005. (740)

Sec. 14.253. REPORT ON VIOLATION. (741)(1-click HTML)

If the commissioner determines that a violation occurred, the commissioner may issue a report that states: (742)

(1) the facts on which the determination is based; and (743)

(2) the commissioner's recommendation on imposition of a penalty, including a recommendation on the amount of the penalty. (744)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (745)

Sec. 14.254. NOTICE OF REPORT ON VIOLATION AND PENALTY RECOMMENDATION. (746)(1-click HTML)

(a) Not later than the 14th day after the date on which a report is issued, the commissioner shall give written notice of the report by certified mail to the person charged with committing or causing the violation. (747)

(b) The notice must: (748)

(1) include a brief summary of the alleged violation; (749)

(2) include a statement of the amount of the recommended penalty; and (750)

(3) inform the person that the person has a right to a hearing on the occurrence of the violation, the amount of the penalty, or both. (751)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (752)

Sec. 14.255. RESPONSE OF PERSON RECEIVING NOTICE. (753)(1-click HTML)

Not later than the 20th day after the date on which a person receives notice under Section 14.254, the person may: (754)

(1) accept in writing the determination and recommended penalty of the commissioner; or (755)

(2) make a written request for a hearing on the occurrence of the violation, the amount of the penalty, or both. (756)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (757)

Sec. 14.256. ACCEPTANCE OF PENALTY. (758)(1-click HTML)

If a person accepts the determination and recommended penalty of the commissioner, the commissioner by order shall approve the determination and impose the recommended penalty. (759)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (760)

Sec. 14.257. HEARING ON PENALTY; ORDER. (761)(1-click HTML)

(a) If a person requests a hearing or fails to give a timely response to the notice, the commissioner shall set a hearing and give notice of the hearing to the person by certified mail. (762)

(b) The hearing shall be held by a hearings officer who shall make findings of fact and conclusions of law and promptly issue a proposal for a decision about the occurrence of the violation and the amount of a proposed penalty. (763)

(c) According to the findings of fact, conclusions of law, and proposal for a decision, the commissioner by order may find: (764)

(1) that a violation has occurred and impose a penalty; or (765)

(2) a violation has not occurred. (766)

(d) Notice of the commissioner's order, given to the person under Chapter 2001, Government Code, must include a statement of the person's right to judicial review of the order. (767)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (768)

Sec. 14.258. STAY OF PENALTY; SUIT BY ATTORNEY GENERAL. (769)(1-click HTML)

(a) The enforcement of the penalty may be stayed during the time the order is under judicial review if the person pays the penalty to the clerk of the court or files a supersedeas bond with the court in the amount of the penalty. A person who cannot afford to pay the penalty or file the bond may stay the enforcement by filing an affidavit in the manner required by the Texas Rules of Civil Procedure for a party who cannot afford to file security for costs, subject to the right of the commissioner to contest the affidavit as provided by those rules. (770)

(b) The attorney general may sue to collect the penalty. (771)

(c) A court that sustains the occurrence of a violation may uphold or reduce the amount of the administrative penalty and order the person to pay that amount. (772)

(d) A court that does not sustain the occurrence of a violation shall order that no penalty is owed. (773)

(e) If a person has paid a penalty and a court in a final judgment reduces or does not uphold the amount, the court shall order that the appropriate amount plus accrued interest be remitted to the person. The interest rate is the rate authorized by Chapter 304, and interest shall be paid for the period beginning on the date the penalty was paid and ending on the date the penalty is remitted. (774)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (775)

Amended by: (776)

Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 4.04, eff. September 1, 2005. (777)

Sec. 14.259. RECOVERY OF COSTS. (778)(1-click HTML)

In addition to the administrative penalty or restitution amount, the court may authorize the commissioner to recover from a person who pays an administrative penalty or restitution amount, or both, reasonable expenses incurred in obtaining the ordered amount, including the cost of investigation, witness fees, and deposition expenses. (779)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (780)

Sec. 14.260. ADMINISTRATIVE PROCEDURE ACT. (781)(1-click HTML)

A proceeding under this subchapter is subject to Chapter 2001, Government Code. (782)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (783)

Sec. 14.261. ACCEPTANCE OF ASSURANCE. (784)(1-click HTML)

(a) In administering this chapter, the commissioner may accept assurance of voluntary compliance from a person who is engaging in or has engaged in an act or practice in violation of: (785)

(1) Section 339.001; (786)

(2) this chapter or a rule adopted under this chapter; (787)

(3) Chapter 393, if the person is a credit access business, or Chapter 394; or (788)

(4) Subtitle B, Title 4, or a rule adopted under Subtitle B, Title 4. (789)

(b) The assurance must be in writing and be filed with the commissioner. (790)

(c) The commissioner may condition acceptance of an assurance of voluntary compliance on the stipulation that the person offering the assurance restore to a person in interest money that may have been acquired by the act or practice described by Subsection (a). (791)

(d) The finance commission may adopt rules to establish the form of the assurance or require certain information be contained in an assurance. (792)

Added by Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 4.05, eff. September 1, 2005. (793)

Amended by: (794)

Acts 2011, 82nd Leg., R.S., Ch. 1302 (H.B. 2594), Sec. 8, eff. January 1, 2012. (795)

Acts 2013, 83rd Leg., R.S., Ch. 63 (H.B. 2548), Sec. 6, eff. September 1, 2013. (796)

Sec. 14.262. EFFECT OF ASSURANCE. (797)(1-click HTML)

(a) An assurance of voluntary compliance is not an admission of a violation of: (798)

(1) Section 339.001; (799)

(2) this chapter or a rule adopted under this chapter; (800)

(3) Chapter 393 with respect to a credit access business or Chapter 394; or (801)

(4) Subtitle B, Title 4, or a rule adopted under Subtitle B, Title 4. (802)

(b) Unless an assurance of voluntary compliance is rescinded by agreement or voided by a court for good cause, a subsequent failure to comply with the assurance is prima facie evidence of a violation of: (803)

(1) Section 339.001; (804)

(2) this chapter or a rule adopted under this chapter; (805)

(3) Chapter 393 with respect to a credit access business or Chapter 394; or (806)

(4) Subtitle B, Title 4, or a rule adopted under Subtitle B, Title 4. (807)

Added by Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 4.05, eff. September 1, 2005. (808)

Amended by: (809)

Acts 2011, 82nd Leg., R.S., Ch. 1302 (H.B. 2594), Sec. 9, eff. January 1, 2012. (810)

Acts 2013, 83rd Leg., R.S., Ch. 63 (H.B. 2548), Sec. 7, eff. September 1, 2013. (811)

Sec. 14.263. REOPENING. (812)(1-click HTML)

A matter closed by the filing of an assurance of voluntary compliance may be reopened at any time. (813)

Added by Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 4.05, eff. September 1, 2005. (814)

Sec. 14.264. RIGHT TO BRING ACTION NOT AFFECTED. (815)(1-click HTML)

(a) An assurance of voluntary compliance does not affect the right of an individual to bring an action, except as provided in Chapter 349 and except that the right of an individual in relation to money received according to a stipulation under Section 14.261(c) is governed by the terms of the assurance. (816)

(b) A person entering into an assurance of voluntary compliance may, not later than the 60th day after the date of filing of the assurance, correct the violation under Section 349.201. Amounts paid as restitution and other acts taken in accordance with an assurance of voluntary compliance shall be considered for purposes of determining whether the obligor has made a correction under Subchapter C, Chapter 349. With respect to corrections of violations or possible violations relating to matters addressed in the assurance of voluntary compliance, the date of filing of the assurance is considered to be the date of: (817)

(1) actual discovery of the violation or possible violation; (818)

(2) written notice; and (819)

(3) filing of the action alleging the violation. (820)

Added by Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 4.05, eff. September 1, 2005. (821)

SUBCHAPTER G. JUDICIAL REVIEW (822)(1-click HTML)
Sec. 14.301. APPEAL OF FINAL DECISION OF COMMISSIONER. (823)(1-click HTML)

A party in interest aggrieved by a final decision of the commissioner is entitled to judicial review. (824)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (825)

Sec. 14.302. APPEAL OF LICENSE WITHHOLDING OR REVOCATION. (826)(1-click HTML)

An appeal of a decision of the commissioner refusing to grant a license to an applicant or revoking the license of a license holder shall be under the substantial evidence rule as provided by Chapter 2001, Government Code. (827)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 1235, Sec. 8, eff. Sept. 1, 2001. (828)

Sec. 14.303. STAY OF ORDER PENDING APPEAL. (829)(1-click HTML)

On a showing of good cause, the commissioner or the reviewing court may enter an order staying the effect of a final decision of the commissioner pending appeal by a party in interest. (830)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (831)

CHAPTER 15. CREDIT UNION COMMISSION AND DEPARTMENT (832)(1-click HTML)

Sec. 15.001. DEFINITIONS. (833)(1-click HTML)

(a) In this chapter, "Texas trade association" means a cooperative and voluntarily joined statewide association of business or professional competitors in this state designed to assist its members and its industry or profession in dealing with mutual business or professional problems and in promoting their common interest. (834)

(b) The definitions provided by Section 121.002 apply to this chapter. (835)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.05(a), eff. Sept. 1, 1999. (836)

Amended by: (837)

Acts 2009, 81st Leg., R.S., Ch. 695 (H.B. 2735), Sec. 1, eff. September 1, 2009. (838)

SUBCHAPTER B. DEPARTMENT (839)(1-click HTML)
Sec. 15.101. COMPOSITION OF DEPARTMENT. (840)(1-click HTML)

The department is composed of: (841)

(1) the commission; (842)

(2) the commissioner; and (843)

(3) other department officers and employees. (844)

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. (845)

  

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