Sec. 394.2095. CANCELLATION OF AGREEMENT BY EITHER PROVIDER OR CONSUMER. If a provider or a consumer cancels a debt management service agreement, the provider shall immediately return to the consumer:
(1) any money of the consumer held in trust by the provider for the consumer's benefit; and
(2) 65 percent of any portion of the account set-up fee received under Section 394.210(g)(1) that has not been credited against settlement fees.
Added by Acts 2011, 82nd Leg., R.S., Ch. 368 (S.B. 141), Sec. 6, eff. September 1, 2011.
Structure Texas Statutes
Title 5 - Protection of Consumers of Financial Services
Chapter 394 - Debtor Assistance
Subchapter C. Consumer Debt Management Services
Section 394.201. Purpose; Construction
Section 394.203. Applicability
Section 394.206. Bond; Insurance
Section 394.208. Required Actions by Provider
Section 394.209. Written Debt Management Services Agreement
Section 394.2095. Cancellation of Agreement by Either Provider or Consumer
Section 394.210. Permitted Fees
Section 394.2101. Adjustment of Amounts of Fees or Other Charges
Section 394.211. Trust Account
Section 394.212. Prohibited Acts and Practices
Section 394.213. Duties of Proper Management