Sec. 351.011. VERIFICATION OF NET ASSETS. If the commissioner questions the amount of a property tax lender's net assets, the commissioner may require certification by an independent certified public accountant that:
(1) the accountant has reviewed the property tax lender's books, other records, and transactions during the reporting year;
(2) the books and other records are maintained using generally accepted accounting principles; and
(3) the property tax lender meets the net assets requirement of Section 351.153.
Added by Acts 2009, 81st Leg., R.S., Ch. 1382 (S.B. 1620), Sec. 2, eff. September 1, 2009.
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