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Texas Laws | Finance Code

(3) an assignment of or order for payment of wages or other compensation for services; or (21212)

(4) a waiver of a provision of this subchapter. (21213)

Added by Acts 2005, 79th Leg., Ch. 336 (S.B. 1112), Sec. 1, eff. September 1, 2005. (21214)

Sec. 394.213. DUTIES OF PROPER MANAGEMENT. (21215)(Text)

A provider has a duty to a consumer who receives debt management services from the provider to ensure that client money held by the provider is managed properly at all times. (21216)

Added by Acts 2005, 79th Leg., Ch. 336 (S.B. 1112), Sec. 1, eff. September 1, 2005. (21217)

Amended by: (21218)

Acts 2011, 82nd Leg., R.S., Ch. 368 (S.B. 141), Sec. 10, eff. September 1, 2011. (21219)

Sec. 394.214. ADDITIONAL ENFORCEMENT POWERS. (21220)(Text)

(a) The finance commission may adopt rules to carry out this subchapter. (21221)

(b) The commissioner may: (21222)

(1) investigate the activities of a person subject to this subchapter to determine compliance with this subchapter, including examination of the books, accounts, and records of a provider; and (21223)

(2) require or permit a person to file a statement under oath and otherwise subject to the penalties of perjury, as to all the facts and circumstances of the matter to be investigated. (21224)

(c) Failure to comply with an investigation under Subsection (b) is grounds for issuance of a cease and desist order. (21225)

(d) The commissioner may receive and act on complaints, take action to obtain voluntary compliance with this subchapter, and refer cases to the attorney general for prosecution. (21226)

(e) The commissioner may enforce this subchapter and rules adopted under this subchapter by: (21227)

(1) ordering the violator to cease and desist from the violation and any similar violations; (21228)

(2) ordering the violator to take affirmative action to correct the violation, including the restitution of money or property to a person aggrieved by the violation; (21229)

(3) imposing an administrative penalty not to exceed $1,000 for each violation as provided by Subchapter F, Chapter 14; or (21230)

(4) rejecting an initial application or revoking or suspending a registration as provided by Section 394.204. (21231)

(f) In determining the amount of an administrative penalty to be imposed under this section, the commissioner shall consider the seriousness of the violation, the good faith of the violator, the violator's history of previous violations, the deleterious effect of the violation on the public, the assets of the violator, and any other factors the commissioner considers relevant. (21232)

(g) The commissioner, on relation of the attorney general at the request of the commissioner, may bring an action in district court to enjoin a person from engaging in an act or continuing a course of action that violates this chapter. The court may order a preliminary or final injunction. (21233)

Added by Acts 2005, 79th Leg., Ch. 336 (S.B. 1112), Sec. 1, eff. September 1, 2005. (21234)

Sec. 394.215. PRIVATE REMEDIES. (21235)(Text)

(a) An agreement for debt management services between a consumer and a person that is not registered under this subchapter is void. (21236)

(b) A consumer is entitled to recover all fees paid by the consumer under a void agreement, costs, and reasonable attorney's fees. (21237)

(c) In addition to any other remedies provided by this subchapter, a consumer who is aggrieved by a violation of this subchapter, a rule adopted by the finance commission under this subchapter, or by any unfair, unconscionable, or deceptive act or practice may recover: (21238)

(1) actual damages; (21239)

(2) punitive damages for acts or practices under a void agreement; and (21240)

(3) the costs of the action, including reasonable attorney's fees based on the amount of time involved. (21241)

(d) An aggrieved consumer may sue for injunctive and other appropriate equitable relief to stop a person from violating this subchapter. (21242)

(e) The remedies provided in this section are not intended to be the exclusive remedies available to a consumer nor must the consumer exhaust any administrative remedies provided under this subchapter or any other applicable law. (21243)

Added by Acts 2005, 79th Leg., Ch. 336 (S.B. 1112), Sec. 1, eff. September 1, 2005. (21244)


Sec. 395.001. COMPOSITION. (21247)(Text)

The community reinvestment work group is composed of: (21248)

(1) a representative of the comptroller's office, appointed by the comptroller; (21249)

(2) a representative of the Texas Department of Housing and Community Affairs, appointed by the executive director of that department; (21250)

(3) a representative of the Texas Department of Economic Development, appointed by the executive director of that department; (21251)

(4) a representative of the Texas Department of Banking, appointed by the banking commissioner of Texas; and (21252)

(5) a representative of the Texas Department of Insurance, appointed by the commissioner of insurance. (21253)

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