Sec. 351.003. SECONDARY MARKET TRANSACTIONS. (a) Except as provided by Subsection (b), this chapter does not prohibit a property tax lender from receiving compensation from a party other than the property tax loan applicant for the sale, transfer, assignment, or release of rights on the closing of a property tax loan transaction.
(b) A person may not sell, transfer, assign, or release rights to a property tax loan to a person who is not licensed under Section 351.051 or exempt from the application of this chapter under Section 351.051(c).
(c) The finance commission shall adopt rules to implement this section.
Added by Acts 2007, 80th Leg., R.S., Ch. 1220 (H.B. 2138), Sec. 1, eff. September 1, 2007.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 206 (S.B. 247), Sec. 3, eff. May 29, 2013.
Structure Texas Statutes
Title 4 - Regulation of Interest, Loans, and Financed Transactions
Subtitle B - Loans and Financed Transactions
Chapter 351 - Property Tax Lenders
Subchapter A. General Provisions
Section 351.0021. Authorized Charges
Section 351.0022. Waiver Prohibited
Section 351.0023. Solicitation of Loans; Notice
Section 351.003. Secondary Market Transactions
Section 351.004. Affiliated Business Arrangements
Section 351.005. Application of Tax Code
Section 351.008. Examination of Lenders; Access to Records
Section 351.009. General Investigation
Section 351.010. Refusal to Allow Examination or Inspection