Texas Statutes
Title 3 - Financial Institutions and Businesses
Subtitle E - Other Financial Businesses

Section 151.2031. Use of Nationwide Multistate Licensing System and Registry - Sec. 151.2031. USE OF NATIONWIDE MULTISTATE LICENSING SYSTEM AND REGISTRY....

Section 151.204. Processing and Investigation of Application - Sec. 151.204. PROCESSING AND INVESTIGATION OF APPLICATION. (a) An application...

Section 151.205. Issuance of License - Sec. 151.205. ISSUANCE OF LICENSE. (a) The commissioner shall issue...

Section 151.206. Transfer or Assignment of License - Sec. 151.206. TRANSFER OR ASSIGNMENT OF LICENSE. A license issued...

Section 151.207. Continuation of License; Annual Report and Fee - Sec. 151.207. CONTINUATION OF LICENSE; ANNUAL REPORT AND FEE. (a)...

Section 151.208. Surrender of License - Sec. 151.208. SURRENDER OF LICENSE. (a) A license holder may...

Section 151.209. Refunds - Sec. 151.209. REFUNDS. A fee or cost paid under this...

Subchapter D. Money Transmission License

Section 151.301. Definitions - Sec. 151.301. DEFINITIONS. (a) This section defines terms that apply...

Section 151.302. License Required - Sec. 151.302. LICENSE REQUIRED. (a) A person may not engage...

Section 151.303. Additional Qualifications - Sec. 151.303. ADDITIONAL QUALIFICATIONS. In addition to the general qualifications...

Section 151.304. Application and Accompanying Fee, Statements, and Security - Sec. 151.304. APPLICATION AND ACCOMPANYING FEE, STATEMENTS, AND SECURITY. (a)...

Section 151.305. Investigation and Action on Application - Sec. 151.305. INVESTIGATION AND ACTION ON APPLICATION. The commissioner shall...

Section 151.306. Temporary License - Sec. 151.306. TEMPORARY LICENSE. (a) The commissioner may issue a...

Section 151.307. Net Worth - Sec. 151.307. NET WORTH. (a) An applicant for a money...

Section 151.308. Security - Sec. 151.308. SECURITY. (a) An applicant for a money transmission...

Section 151.309. Permissible Investments - Sec. 151.309. PERMISSIBLE INVESTMENTS. (a) A money transmission license holder...

Subchapter E. Conduct of Money Transmission Business

Section 151.401. Liability of License Holder - Sec. 151.401. LIABILITY OF LICENSE HOLDER. A money transmission license...

Section 151.402. Conduct of Business Through Authorized Delegate - Sec. 151.402. CONDUCT OF BUSINESS THROUGH AUTHORIZED DELEGATE. (a) A...

Section 151.403. Authorized Delegate Conduct - Sec. 151.403. AUTHORIZED DELEGATE CONDUCT. (a) An authorized delegate of...

Section 151.404. Trust Imposed - Sec. 151.404. TRUST IMPOSED. (a) A license holder shall hold...

Section 151.405. Disclosure Requirements - Sec. 151.405. DISCLOSURE REQUIREMENTS. (a) A license holder's name and...

Subchapter F. Currency Exchange License

Section 151.501. Definitions - Sec. 151.501. DEFINITIONS. (a) This section defines terms that apply...

Section 151.502. License Required - Sec. 151.502. LICENSE REQUIRED. (a) A person may not engage...

Section 151.503. Qualifications - Sec. 151.503. QUALIFICATIONS. An applicant for a currency exchange license...

Section 151.504. Application and Accompanying Fee and Security - Sec. 151.504. APPLICATION AND ACCOMPANYING FEE AND SECURITY. (a) An...

Section 151.505. Investigation and Action on Application - Sec. 151.505. INVESTIGATION AND ACTION ON APPLICATION. The commissioner shall...

Section 151.506. Security - Sec. 151.506. SECURITY. (a) An applicant for a currency exchange...

Subchapter G. Examinations, Reports, and Records

Section 151.601. Examinations - Sec. 151.601. EXAMINATIONS. (a) The commissioner may examine a license...

Section 151.602. Records - Sec. 151.602. RECORDS. (a) A license holder must prepare, maintain,...

Section 151.603. Reports - Sec. 151.603. REPORTS. (a) An applicant or license holder shall...

Section 151.604. Extraordinary Reporting Requirements - Sec. 151.604. EXTRAORDINARY REPORTING REQUIREMENTS. (a) A license holder shall...

Section 151.605. Change of Control - Sec. 151.605. CHANGE OF CONTROL. (a) This section applies to...

Section 151.606. Confidentiality - Sec. 151.606. CONFIDENTIALITY. (a) Except as otherwise provided by Subsection...

Subchapter H. Enforcement

Section 151.701. Injunctive Relief - Sec. 151.701. INJUNCTIVE RELIEF. (a) Whenever it appears that a...

Section 151.702. Cease and Desist Orders for Unlicensed Persons - Sec. 151.702. CEASE AND DESIST ORDERS FOR UNLICENSED PERSONS. (a)...

Section 151.703. Suspension and Revocation of License - Sec. 151.703. SUSPENSION AND REVOCATION OF LICENSE. (a) The commissioner...

Section 151.704. Suspension and Revocation of Authorized Delegate Designation - Sec. 151.704. SUSPENSION AND REVOCATION OF AUTHORIZED DELEGATE DESIGNATION. (a)...

Section 151.705. Cease and Desist Orders for License Holders or Authorized Delegates - Sec. 151.705. CEASE AND DESIST ORDERS FOR LICENSE HOLDERS OR...

Section 151.706. Consent Orders - Sec. 151.706. CONSENT ORDERS. (a) The commissioner may enter into...

Section 151.707. Administrative Penalty - Sec. 151.707. ADMINISTRATIVE PENALTY. (a) After notice and hearing, the...

Section 151.708. Criminal Penalty - Sec. 151.708. CRIMINAL PENALTY. (a) A person commits an offense...

Section 151.709. Notice, Hearing, and Other Procedures for Nonemergency Orders - Sec. 151.709. NOTICE, HEARING, AND OTHER PROCEDURES FOR NONEMERGENCY ORDERS....

Section 151.710. Requirements and Notice and Hearing Procedures for Emergency Orders - Sec. 151.710. REQUIREMENTS AND NOTICE AND HEARING PROCEDURES FOR EMERGENCY...

Subchapter I. Administrative Procedures and Judicial Review

Section 151.801. Administrative Procedures - Sec. 151.801. ADMINISTRATIVE PROCEDURES. (a) All administrative proceedings under this...

Chapter 154 - Prepaid Funeral Services

Subchapter A. General Provisions

Section 154.001. Purpose - Sec. 154.001. PURPOSE. The purposes of this chapter are to:...

Section 154.002. Definitions - Sec. 154.002. DEFINITIONS. In this chapter: (1) "Cash advance item"...

Section 154.003. Effect on Insurance Laws - Sec. 154.003. EFFECT ON INSURANCE LAWS. Except as provided by...

Section 154.004. Group Insurance Contracts - Sec. 154.004. GROUP INSURANCE CONTRACTS. (a) A life insurance company...

Subchapter B. Powers and Duties of Department

Section 154.051. Administration of Chapter; Fees - Sec. 154.051. ADMINISTRATION OF CHAPTER; FEES. (a) The department shall...

Section 154.052. Annual Report - Sec. 154.052. ANNUAL REPORT. (a) The department may require a...

Section 154.053. Records; Examination - Sec. 154.053. RECORDS; EXAMINATION. (a) A permit holder that has...

Section 154.054. Examination Fee - Sec. 154.054. EXAMINATION FEE. (a) For each examination conducted under...

Section 154.055. Disclosure of Certain Information; Confidentiality - Sec. 154.055. DISCLOSURE OF CERTAIN INFORMATION; CONFIDENTIALITY. (a) Information relating...

Section 154.056. Payment of Restitution Money - Sec. 154.056. PAYMENT OF RESTITUTION MONEY. The department shall pay...

Subchapter C. Permits

Section 154.101. Permit Requirement - Sec. 154.101. PERMIT REQUIREMENT. A person must hold a permit...

Section 154.102. Permit Application; Fee - Sec. 154.102. PERMIT APPLICATION; FEE. To obtain a permit to...

Section 154.103. Issuance of Permit - Sec. 154.103. ISSUANCE OF PERMIT. (a) The commissioner may investigate...

Section 154.104. Term of Permit - Sec. 154.104. TERM OF PERMIT. (a) The commission by rule...

Section 154.105. Prohibition on Transfer of Permit - Sec. 154.105. PROHIBITION ON TRANSFER OF PERMIT. A permit is...

Section 154.106. Transfer of Business Ownership - Sec. 154.106. TRANSFER OF BUSINESS OWNERSHIP. (a) A permit holder...

Section 154.107. Required Renewal for Sellers - Sec. 154.107. REQUIRED RENEWAL FOR SELLERS. (a) A seller that...

Section 154.108. Renewal Fee - Sec. 154.108. RENEWAL FEE. The commission shall set the renewal...

Section 154.109. Grounds for Cancellation or Suspension of or Refusal to Renew Permit - Sec. 154.109. GROUNDS FOR CANCELLATION OR SUSPENSION OF OR REFUSAL...

Section 154.110. Order to Cancel, Suspend, or Refuse to Renew Permit - Sec. 154.110. ORDER TO CANCEL, SUSPEND, OR REFUSE TO RENEW...

Section 154.111. Successor Permit Holder - Sec. 154.111. SUCCESSOR PERMIT HOLDER. (a) The commission shall adopt...

Subchapter C. -1. Presale Disclosures

Section 154.131. Brochure - Sec. 154.131. BROCHURE. (a) A seller, directly or through the...

Section 154.132. Website - Sec. 154.132. WEBSITE. (a) The department shall establish and maintain...

Section 154.133. Reference or Link to Website - Sec. 154.133. REFERENCE OR LINK TO WEBSITE. Any sales literature...

Subchapter D. General Provisions for Sales Contracts

Section 154.151. Form of Contract - Sec. 154.151. FORM OF CONTRACT. (a) The department must approve...

Section 154.1511. Cash Advance Items: Non-Guaranteed Merchandise and Services - Sec. 154.1511. CASH ADVANCE ITEMS: NON-GUARANTEED MERCHANDISE AND SERVICES. (a)...

Section 154.152. Representations Regarding Approval of Permit Holder - Sec. 154.152. REPRESENTATIONS REGARDING APPROVAL OF PERMIT HOLDER. A permit...

Section 154.153. Allocation of Sales Price - Sec. 154.153. ALLOCATION OF SALES PRICE. A seller may not...

Section 154.154. Agreement to Pay Finance Charge - Sec. 154.154. AGREEMENT TO PAY FINANCE CHARGE. A purchaser of...

Section 154.155. Cancellation of Contract - Sec. 154.155. CANCELLATION OF CONTRACT. (a) A purchaser of a...

Section 154.1551. Modification at Time of Funeral - Sec. 154.1551. MODIFICATION AT TIME OF FUNERAL. (a) The funeral...

Section 154.156. Waiver of Right of Cancellation - Sec. 154.156. WAIVER OF RIGHT OF CANCELLATION. (a) The purchaser...

Section 154.157. Performance of Contract - Sec. 154.157. PERFORMANCE OF CONTRACT. Delivery of funeral merchandise before...

Section 154.158. Enforcement of Contract - Sec. 154.158. ENFORCEMENT OF CONTRACT. A seller that violates Section...

Section 154.159. Administration of Money Received - Sec. 154.159. ADMINISTRATION OF MONEY RECEIVED. Money received for prepaid...

Section 154.160. Agent; Deposit of Money - Sec. 154.160. AGENT; DEPOSIT OF MONEY. (a) A seller shall...

Section 154.161. Responsibilities of Funeral Provider - Sec. 154.161. RESPONSIBILITIES OF FUNERAL PROVIDER. (a) The funeral provider...

Subchapter E. Insurance-Funded Prepaid Funeral Benefits

Section 154.201. Requirements for Solicitation of Insurance-Funded Benefits - Sec. 154.201. REQUIREMENTS FOR SOLICITATION OF INSURANCE-FUNDED BENEFITS. A seller...

Section 154.202. Execution of Contract in Conjunction With Application for Policy - Sec. 154.202. EXECUTION OF CONTRACT IN CONJUNCTION WITH APPLICATION FOR...

Section 154.2021. Requirements for Insurance Policies - Sec. 154.2021. REQUIREMENTS FOR INSURANCE POLICIES. (a) An insurance policy...

Section 154.203. Payment of Premiums - Sec. 154.203. PAYMENT OF PREMIUMS. (a) The premiums for an...

Section 154.204. Conversion From Trust-Funded Prepaid Funeral Benefits - Sec. 154.204. CONVERSION FROM TRUST-FUNDED PREPAID FUNERAL BENEFITS. (a) The...

Section 154.205. Cancellation of Insurance-Funded Contract - Sec. 154.205. CANCELLATION OF INSURANCE-FUNDED CONTRACT. (a) A purchaser of...

Section 154.206. Assignment of Right to Benefits - Sec. 154.206. ASSIGNMENT OF RIGHT TO BENEFITS. (a) The purchaser...

Section 154.207. Receipt of Benefits Payable Under Policy - Sec. 154.207. RECEIPT OF BENEFITS PAYABLE UNDER POLICY. (a) A...

Section 154.208. Advisory Committee - Sec. 154.208. ADVISORY COMMITTEE. (a) The commissioner shall appoint an...

Subchapter F. Trust-Funded Prepaid Funeral Benefits

Section 154.251. Applicability - Sec. 154.251. APPLICABILITY. (a) This subchapter applies only to money...

Section 154.252. Retention of Money for Expenses - Sec. 154.252. RETENTION OF MONEY FOR EXPENSES. The seller of...

Section 154.253. Deposit of Money Paid or Collected - Sec. 154.253. DEPOSIT OF MONEY PAID OR COLLECTED. (a) Not...

Section 154.254. Amount Payable on Cancellation of Contract - Sec. 154.254. AMOUNT PAYABLE ON CANCELLATION OF CONTRACT. A purchaser...

Section 154.255. Standard of Duty of Depository - Sec. 154.255. STANDARD OF DUTY OF DEPOSITORY. A depository described...

Section 154.256. Standard of Duty of Trustee - Sec. 154.256. STANDARD OF DUTY OF TRUSTEE. A trustee described...

Section 154.257. Investment Plan - Sec. 154.257. INVESTMENT PLAN. (a) A permit holder or trustee,...

Section 154.258. Investment and Management of Trust Assets - Sec. 154.258. INVESTMENT AND MANAGEMENT OF TRUST ASSETS. (a) The...

Section 154.260. Use of Money to Purchase, Lease, or Invest in Asset Owned by Seller or Funeral Provider - Sec. 154.260. USE OF MONEY TO PURCHASE, LEASE, OR INVEST...

Section 154.261. Withdrawal of Earnings to Pay Certain Expenses - Sec. 154.261. WITHDRAWAL OF EARNINGS TO PAY CERTAIN EXPENSES. (a)...

Section 154.262. Withdrawal of Money on Death of Beneficiary - Sec. 154.262. WITHDRAWAL OF MONEY ON DEATH OF BENEFICIARY. (a)...

Section 154.263. Withdrawal of Earnings Attributable to Contract - Sec. 154.263. WITHDRAWAL OF EARNINGS ATTRIBUTABLE TO CONTRACT. On the...

Section 154.264. Accounting Records - Sec. 154.264. ACCOUNTING RECORDS. A seller shall maintain accounting records...

Section 154.265. Default Under Certain Contracts - Sec. 154.265. DEFAULT UNDER CERTAIN CONTRACTS. (a) Notwithstanding any other...

Subchapter G. Abandoned Contracts

Section 154.301. Presumption of Abandonment - Sec. 154.301. PRESUMPTION OF ABANDONMENT. (a) Money paid by a...

Section 154.302. Notice of Abandoned Money - Sec. 154.302. NOTICE OF ABANDONED MONEY. On March 1 of...

Section 154.303. Authorization to Withdraw Money - Sec. 154.303. AUTHORIZATION TO WITHDRAW MONEY. (a) Not later than...

Section 154.304. Delivery to Comptroller of Abandoned Money and Report - Sec. 154.304. DELIVERY TO COMPTROLLER OF ABANDONED MONEY AND REPORT....

Section 154.305. Discharge of Contractual Obligations; Indemnity of Seller - Sec. 154.305. DISCHARGE OF CONTRACTUAL OBLIGATIONS; INDEMNITY OF SELLER. (a)...

Section 154.306. Liability and Obligations of Comptroller - Sec. 154.306. LIABILITY AND OBLIGATIONS OF COMPTROLLER. (a) The comptroller...

Section 154.307. Recourse of Purchaser or Beneficiary - Sec. 154.307. RECOURSE OF PURCHASER OR BENEFICIARY. A purchaser's or...

Subchapter H. Guaranty Fund

Section 154.351. Maintenance of Guaranty Fund - Sec. 154.351. MAINTENANCE OF GUARANTY FUND. (a) The commission by...

Section 154.352. Assessment on Sales Contracts - Sec. 154.352. ASSESSMENT ON SALES CONTRACTS. (a) The department shall...

Section 154.3525. Assessment on Insurance-Funded Contracts - Sec. 154.3525. ASSESSMENT ON INSURANCE-FUNDED CONTRACTS. (a) The department shall...

Section 154.353. Deposit of Fund or Portion of Fund - Sec. 154.353. DEPOSIT OF FUND OR PORTION OF FUND. (a)...

Section 154.354. Use of Fund Earnings - Sec. 154.354. USE OF FUND EARNINGS. The department may use...

Section 154.355. Advisory Council - Sec. 154.355. ADVISORY COUNCIL. (a) An advisory council composed of...

Section 154.3551. Limit on Liability - Sec. 154.3551. LIMIT ON LIABILITY. (a) A member of the...

Section 154.356. Assessment on Outstanding Trust-Funded Contracts to Pay Claims - Sec. 154.356. ASSESSMENT ON OUTSTANDING TRUST-FUNDED CONTRACTS TO PAY CLAIMS....

Section 154.3565. Assessment on Outstanding Insurance-Funded Contracts to Pay Claims - Sec. 154.3565. ASSESSMENT ON OUTSTANDING INSURANCE-FUNDED CONTRACTS TO PAY CLAIMS....

Section 154.357. Claim Against Seller, Funeral Provider, or Depository - Sec. 154.357. CLAIM AGAINST SELLER, FUNERAL PROVIDER, OR DEPOSITORY. The...

Section 154.358. Claims Against Fund - Sec. 154.358. CLAIMS AGAINST FUND. (a) The payment of a...

Section 154.359. Permissible Uses of Fund - Sec. 154.359. PERMISSIBLE USES OF FUND. (a) In addition to...

Section 154.3595. Default by Funeral Provider - Sec. 154.3595. DEFAULT BY FUNERAL PROVIDER. (a) This section applies...

Section 154.360. Subrogation - Sec. 154.360. SUBROGATION. (a) A person receiving a benefit under...

Subchapter I. Criminal Penalties and Civil Remedies

Section 154.400. Investigation and Subpoena Authority - Sec. 154.400. INVESTIGATION AND SUBPOENA AUTHORITY. (a) If the commissioner...

Section 154.401. Criminal Penalty for Certain Violations of Chapter - Sec. 154.401. CRIMINAL PENALTY FOR CERTAIN VIOLATIONS OF CHAPTER. (a)...

Section 154.402. Criminal Penalty Relating to Deposit or Withdrawal of Money - Sec. 154.402. CRIMINAL PENALTY RELATING TO DEPOSIT OR WITHDRAWAL OF...

Section 154.403. Criminal Penalty for Failure to File Report - Sec. 154.403. CRIMINAL PENALTY FOR FAILURE TO FILE REPORT. (a)...

Section 154.404. Criminal Penalty for Failure to Deliver Money to Designated Agent - Sec. 154.404. CRIMINAL PENALTY FOR FAILURE TO DELIVER MONEY TO...

Section 154.405. Criminal Penalty for Agent's Failure to Deposit Certain Money - Sec. 154.405. CRIMINAL PENALTY FOR AGENT'S FAILURE TO DEPOSIT CERTAIN...

Section 154.406. Administrative Penalty - Sec. 154.406. ADMINISTRATIVE PENALTY. (a) After notice and opportunity for...

Section 154.4061. Pattern of Wilful Disregard - Sec. 154.4061. PATTERN OF WILFUL DISREGARD. (a) If, after a...

Section 154.407. Injunctive Relief - Sec. 154.407. INJUNCTIVE RELIEF. The commissioner may sue in a...

Section 154.408. Cease and Desist Order - Sec. 154.408. CEASE AND DESIST ORDER. (a) The commissioner may...

Section 154.4081. Emergency Order - Sec. 154.4081. EMERGENCY ORDER. (a) The commissioner may issue an...

Section 154.409. Suit by Attorney General - Sec. 154.409. SUIT BY ATTORNEY GENERAL. (a) The department may...

Section 154.410. Quo Warranto Proceedings - Sec. 154.410. QUO WARRANTO PROCEEDINGS. (a) The attorney general may...

Section 154.411. Restitution - Sec. 154.411. RESTITUTION. The commissioner may issue an order to...

Section 154.412. Seizure of Prepaid Funeral Accounts and Records - Sec. 154.412. SEIZURE OF PREPAID FUNERAL ACCOUNTS AND RECORDS. (a)...

Section 154.413. Notification of Purchaser - Sec. 154.413. NOTIFICATION OF PURCHASER. Not later than the 30th...

Section 154.414. Liquidation of Business and Affairs of Person Following Seizure of Money and Records - Sec. 154.414. LIQUIDATION OF BUSINESS AND AFFAIRS OF PERSON FOLLOWING...

Section 154.415. Prohibition Order - Sec. 154.415. PROHIBITION ORDER. (a) The commissioner may prohibit a...

Section 154.416. Application for Release From Prohibition Order - Sec. 154.416. APPLICATION FOR RELEASE FROM PROHIBITION ORDER. (a) After...

Chapter 155 - Bond Investment Companies

Section 155.001. Definition - Sec. 155.001. DEFINITION. In this chapter, "bond investment company" includes...

Section 155.002. Deposit Required - Sec. 155.002. DEPOSIT REQUIRED. (a) Each person doing business in...

Section 155.003. Failure to Make Deposit - Sec. 155.003. FAILURE TO MAKE DEPOSIT. (a) A domestic corporation...

Section 155.004. Receiver on Failure of Corporation - Sec. 155.004. RECEIVER ON FAILURE OF CORPORATION. (a) If a...

Section 155.005. Exchange of Deposit - Sec. 155.005. EXCHANGE OF DEPOSIT. (a) On request, the comptroller...

Section 155.006. Return of Deposit - Sec. 155.006. RETURN OF DEPOSIT. The comptroller shall return a...

Section 155.007. Criminal Penalty - Sec. 155.007. CRIMINAL PENALTY. (a) An officer or agent of...

Chapter 156 - Residential Mortgage Loan Companies

Subchapter A. General Provisions

Section 156.001. Short Title - Sec. 156.001. SHORT TITLE. This chapter may be cited as...

Section 156.002. Definitions - Sec. 156.002. DEFINITIONS. In this chapter: (1) "Auxiliary mortgage loan...

Section 156.003. Secondary Market Transactions - Sec. 156.003. SECONDARY MARKET TRANSACTIONS. This chapter does not prohibit...

Section 156.004. Disclosure to Applicant - Sec. 156.004. DISCLOSURE TO APPLICANT. (a) At the time an...

Section 156.005. Affiliated Business Arrangements - Sec. 156.005. AFFILIATED BUSINESS ARRANGEMENTS. Unless prohibited by federal or...

Subchapter B. Administration Provisions

Section 156.101. Administration and Enforcement of Chapter; Participation in Nationwide Registry - Sec. 156.101. ADMINISTRATION AND ENFORCEMENT OF CHAPTER; PARTICIPATION IN NATIONWIDE...

Section 156.102. Rulemaking Authority - Sec. 156.102. RULEMAKING AUTHORITY. (a) The finance commission may adopt...

Section 156.103. Powers of Commissioner - Sec. 156.103. POWERS OF COMMISSIONER. (a) In addition to any...

Section 156.104. Mortgage Industry Advisory Committee - Sec. 156.104. MORTGAGE INDUSTRY ADVISORY COMMITTEE. (a) The mortgage industry...

Section 156.105. Standard Forms - Sec. 156.105. STANDARD FORMS. (a) The finance commission by rule...

Subchapter C. Residential Mortgage Loan Company Licenses and Registration

Section 156.201. Licenses Required - Sec. 156.201. LICENSES REQUIRED. (a) A person may not act...

Section 156.2012. Registered Financial Services Company - Sec. 156.2012. REGISTERED FINANCIAL SERVICES COMPANY. (a) A financial services...

Section 156.202. Exemptions - Sec. 156.202. EXEMPTIONS. (a) In this section, "depository institution," "dwelling,"...

Section 156.203. Application; Fees - Sec. 156.203. APPLICATION; FEES. (a) For purposes of this section,...

Section 156.2041. Qualifications and Requirements for License: Mortgage Company - Text of section as amended by Acts 2021, 87th Leg.,...

Section 156.2042. Qualifications and Requirements for License: Credit Union Subsidiary Organization - Text of section as amended by Acts 2021, 87th Leg.,...

Section 156.2043. Qualifications and Requirements for License: Auxiliary Mortgage Loan Activity Company - Sec. 156.2043. QUALIFICATIONS AND REQUIREMENTS FOR LICENSE: AUXILIARY MORTGAGE LOAN...

Section 156.2044. Qualifications and Requirements for License: Independent Contractor Loan Processor or Underwriter Company - Sec. 156.2044. QUALIFICATIONS AND REQUIREMENTS FOR LICENSE: INDEPENDENT CONTRACTOR LOAN...

Section 156.2046. Conviction of Offense - Sec. 156.2046. CONVICTION OF OFFENSE. A person is considered to...

Section 156.206. Criminal and Other Background Checks - Sec. 156.206. CRIMINAL AND OTHER BACKGROUND CHECKS. (a) Repealed by...

Section 156.207. Issuance of License - Sec. 156.207. ISSUANCE OF LICENSE. (a) The commissioner shall issue...

Section 156.208. Renewals - Sec. 156.208. RENEWALS. (a-1) A residential mortgage loan company license...

Section 156.2081. Reinstatement After Expiration - Sec. 156.2081. REINSTATEMENT AFTER EXPIRATION. (a) A person whose license...

Section 156.209. Denial of Applications and Renewals - Sec. 156.209. DENIAL OF APPLICATIONS AND RENEWALS. (a) If the...

Section 156.210. Conditional License - Sec. 156.210. CONDITIONAL LICENSE. The commissioner may issue a conditional...

Section 156.211. Change of Address or Sponsorship; Modification of License - Sec. 156.211. CHANGE OF ADDRESS OR SPONSORSHIP; MODIFICATION OF LICENSE....

Section 156.212. Maintenance and Location of Offices - Sec. 156.212. MAINTENANCE AND LOCATION OF OFFICES. If a residential...

Section 156.213. Mortgage Call Report - Sec. 156.213. MORTGAGE CALL REPORT. (a) Each licensed residential mortgage...

Subchapter D. License Revocation and Suspension and Other Actions Against License Holder

Section 156.301. Inspections; Investigations - Sec. 156.301. INSPECTIONS; INVESTIGATIONS. (a) The commissioner may conduct inspections...

Section 156.3011. Issuance and Enforcement of Subpoena - Sec. 156.3011. ISSUANCE AND ENFORCEMENT OF SUBPOENA. (a) During an...

Section 156.302. Administrative Penalty - Sec. 156.302. ADMINISTRATIVE PENALTY. (a) The commissioner, after notice and...

Section 156.303. Disciplinary Action; Cease and Desist Order - Sec. 156.303. DISCIPLINARY ACTION; CEASE AND DESIST ORDER. (a) The...

Section 156.304. Fee Assessment and Disclosure - Sec. 156.304. FEE ASSESSMENT AND DISCLOSURE. (a) Before the completion...

Section 156.305. Restitution - Sec. 156.305. RESTITUTION. The commissioner may order a person to...

Subchapter E. Hearings; Judicial Review; Civil Actions; Unlicensed Activity

Section 156.401. Hearings and Judicial Review - Sec. 156.401. HEARINGS AND JUDICIAL REVIEW. (a) The commissioner may...

Section 156.402. Civil Actions and Injunctive Relief - Sec. 156.402. CIVIL ACTIONS AND INJUNCTIVE RELIEF. (a) A mortgage...

Section 156.403. Burden of Proof to Establish an Exemption - Sec. 156.403. BURDEN OF PROOF TO ESTABLISH AN EXEMPTION. The...

Section 156.404. Reliance on Written Notices From Commissioner - Sec. 156.404. RELIANCE ON WRITTEN NOTICES FROM COMMISSIONER. A person...

Section 156.406. Unlicensed Activity - Sec. 156.406. UNLICENSED ACTIVITY. (a) A person, unless otherwise exempt,...

Subchapter F. Recovery Fund

Section 156.501. Recovery Fund - Sec. 156.501. RECOVERY FUND. (a) The commissioner shall establish, administer,...

Section 156.502. Funding - Text of section as amended by Acts 2021, 87th Leg.,...

Section 156.503. Statute of Limitations - Sec. 156.503. STATUTE OF LIMITATIONS. (a) An application for the...

Section 156.504. Procedure for Recovery - Sec. 156.504. PROCEDURE FOR RECOVERY. (a) To recover from the...

Section 156.505. Recovery Limits - Sec. 156.505. RECOVERY LIMITS. (a) A person entitled to receive...

Section 156.506. Revocation or Suspension of License for Payment From Recovery Fund - Sec. 156.506. REVOCATION OR SUSPENSION OF LICENSE FOR PAYMENT FROM...

Section 156.507. Subrogation - Sec. 156.507. SUBROGATION. When the commissioner has paid an applicant...

Section 156.508. Failure to Comply With Subchapter or Rule Adopted by the Finance Commission - Sec. 156.508. FAILURE TO COMPLY WITH SUBCHAPTER OR RULE ADOPTED...

Subchapter G. Mortgage Grant Fund

Section 156.551. Mortgage Grant Fund - Sec. 156.551. MORTGAGE GRANT FUND. (a) The commissioner shall establish,...

Section 156.552. Funding - Sec. 156.552. FUNDING. The mortgage grant fund consists of: (1)...

Section 156.553. Management of Fund - Sec. 156.553. MANAGEMENT OF FUND. (a) The commissioner, as manager...

Section 156.554. Disbursement From Fund - Sec. 156.554. DISBURSEMENT FROM FUND. (a) The commissioner shall approve...

Section 156.555. Payment of Claims for Fraudulent Unlicensed Activity - Sec. 156.555. PAYMENT OF CLAIMS FOR FRAUDULENT UNLICENSED ACTIVITY. (a)...

Section 156.556. Rules - Sec. 156.556. RULES. The finance commission shall adopt rules to...

Chapter 157 - Mortgage Bankers and Residential Mortgage Loan Originators

Subchapter A. General Provisions

Section 157.001. Short Title - Sec. 157.001. SHORT TITLE. This chapter may be cited as...

Section 157.002. Definitions - Sec. 157.002. DEFINITIONS. In this chapter: (1) "Commissioner" means the...

Subchapter B. Administrative Provisions

Section 157.0021. Disclosure Statement - Sec. 157.0021. DISCLOSURE STATEMENT. (a) A mortgage banker that is...

Section 157.0022. Complaints - Sec. 157.0022. COMPLAINTS. (a) If the Department of Savings and...

Section 157.0023. Rulemaking Authority - Sec. 157.0023. RULEMAKING AUTHORITY. (a) The Finance Commission of Texas...

Section 157.0024. Mortgage Industry Advisory Committee - Sec. 157.0024. MORTGAGE INDUSTRY ADVISORY COMMITTEE. The mortgage industry advisory...

Subchapter C. Registration of Mortgage Bankers

Section 157.003. Registration Required - Sec. 157.003. REGISTRATION REQUIRED. (a) A person must register under...

Section 157.004. Exemptions - Sec. 157.004. EXEMPTIONS. This chapter does not apply to: (1)...

Section 157.005. Update of Registration - Sec. 157.005. UPDATE OF REGISTRATION. A mortgage banker shall update...

Section 157.006. Registration and Administration Fee - Sec. 157.006. REGISTRATION AND ADMINISTRATION FEE. The commissioner may charge...

Section 157.0061. Renewal of Registration - Sec. 157.0061. RENEWAL OF REGISTRATION. (a) The registration of a...

Section 157.0062. Reinstatement After Expiration of Registration - Sec. 157.0062. REINSTATEMENT AFTER EXPIRATION OF REGISTRATION. (a) A mortgage...

Section 157.009. Termination of Registration - Sec. 157.009. TERMINATION OF REGISTRATION. (a) A mortgage banker may...

Section 157.010. Reregistration - Sec. 157.010. REREGISTRATION. (a) A mortgage banker whose registration is...

Subchapter D. Licensing of Residential Mortgage Loan Originators; Disclosures and Requirements

Section 157.012. License Required for Residential Mortgage Loan Originators - Sec. 157.012. LICENSE REQUIRED FOR RESIDENTIAL MORTGAGE LOAN ORIGINATORS. (a)...

Section 157.0121. Exemptions From Residential Mortgage Loan Originator Requirements - Sec. 157.0121. EXEMPTIONS FROM RESIDENTIAL MORTGAGE LOAN ORIGINATOR REQUIREMENTS. (a)...

Section 157.013. Application for License; Fees - Sec. 157.013. APPLICATION FOR LICENSE; FEES. (a) An application for...

Section 157.0131. Conviction of Offense - Sec. 157.0131. CONVICTION OF OFFENSE. A person is considered to...

Section 157.0132. Criminal and Other Background Checks - Sec. 157.0132. CRIMINAL AND OTHER BACKGROUND CHECKS. (a) On receipt...

Section 157.014. Issuance of Residential Mortgage Loan Originator License - Sec. 157.014. ISSUANCE OF RESIDENTIAL MORTGAGE LOAN ORIGINATOR LICENSE. (a)...

Section 157.0141. Conditional License - Sec. 157.0141. CONDITIONAL LICENSE. The commissioner may issue a conditional...

Section 157.015. Renewal of License - Sec. 157.015. RENEWAL OF LICENSE. (a) A residential mortgage loan...

Section 157.016. Reinstatement After Expiration of License; Notice - Sec. 157.016. REINSTATEMENT AFTER EXPIRATION OF LICENSE; NOTICE. (a) A...

Section 157.017. Denial of Applications and Renewals - Sec. 157.017. DENIAL OF APPLICATIONS AND RENEWALS. (a) If the...

Section 157.019. Modification of License; Change of Sponsorship - Sec. 157.019. MODIFICATION OF LICENSE; CHANGE OF SPONSORSHIP. (a) Before...

Section 157.020. Mortgage Call Report - Sec. 157.020. MORTGAGE CALL REPORT. (a) Each mortgage banker shall...

Section 157.0201. Recovery Fund - Sec. 157.0201. RECOVERY FUND. The recovery fund established, administered, and...

Section 157.02012. Standard Forms - Sec. 157.02012. STANDARD FORMS. (a) The finance commission by rule...

Section 157.02013. Secondary Market Transactions - Sec. 157.02013. SECONDARY MARKET TRANSACTIONS. This chapter does not prohibit...

Section 157.02014. Affiliated Business Arrangements - Sec. 157.02014. AFFILIATED BUSINESS ARRANGEMENTS. Unless prohibited by federal or...

Section 157.02015. Rulemaking Authority With Respect to Residential Mortgage Loan Originators - Sec. 157.02015. RULEMAKING AUTHORITY WITH RESPECT TO RESIDENTIAL MORTGAGE LOAN...

Section 157.02016. Administration of Subchapter - Sec. 157.02016. ADMINISTRATION OF SUBCHAPTER. The commissioner shall administer and...

Subchapter E. Enforcement

Section 157.021. Inspection; Investigations - Sec. 157.021. INSPECTION; INVESTIGATIONS. (a) The commissioner may conduct an...

Section 157.0211. Multi-State Examination Authority of Residential Mortgage Loan Servicer - Sec. 157.0211. MULTI-STATE EXAMINATION AUTHORITY OF RESIDENTIAL MORTGAGE LOAN SERVICER....

Section 157.022. Issuance and Enforcement of Subpoena - Sec. 157.022. ISSUANCE AND ENFORCEMENT OF SUBPOENA. (a) During an...

Section 157.023. Administrative Penalty - Sec. 157.023. ADMINISTRATIVE PENALTY. (a) The commissioner, after notice and...

Section 157.024. Disciplinary Action; Cease and Desist Order - Sec. 157.024. DISCIPLINARY ACTION; CEASE AND DESIST ORDER. (a) The...

Section 157.0241. Revocation or Suspension of License for Payment From Recovery Fund - Sec. 157.0241. REVOCATION OR SUSPENSION OF LICENSE FOR PAYMENT FROM...

Section 157.025. Restitution - Sec. 157.025. RESTITUTION. The commissioner may order a residential mortgage...

Section 157.026. Hearings and Judicial Review - Sec. 157.026. HEARINGS AND JUDICIAL REVIEW. (a) The commissioner may...

Section 157.027. Civil Actions and Injunctive Relief - Sec. 157.027. CIVIL ACTIONS AND INJUNCTIVE RELIEF. (a) A residential...

Section 157.028. Burden of Proof to Establish an Exemption - Sec. 157.028. BURDEN OF PROOF TO ESTABLISH AN EXEMPTION. The...

Section 157.029. Reliance on Written Notices From the Commissioner - Sec. 157.029. RELIANCE ON WRITTEN NOTICES FROM THE COMMISSIONER. A...

Section 157.030. Completion of Residential Mortgage Origination Services - Sec. 157.030. COMPLETION OF RESIDENTIAL MORTGAGE ORIGINATION SERVICES. (a) On...

Section 157.031. Unlicensed Activity; Offense - Sec. 157.031. UNLICENSED ACTIVITY; OFFENSE. (a) An individual who is...

Section 157.032. Powers of Commissioner - Sec. 157.032. POWERS OF COMMISSIONER. (a) In addition to any...

Chapter 158 - Residential Mortgage Loan Servicers

Subchapter A. General Provisions

Section 158.001. Short Title - Sec. 158.001. SHORT TITLE. This chapter may be cited as...

Section 158.002. Definitions - Sec. 158.002. DEFINITIONS. In this chapter: (1) "Commissioner" means the...

Section 158.003. Purpose; Rules - Sec. 158.003. PURPOSE; RULES. (a) The purpose of this chapter...

Subchapter B. Registration of Residential Mortgage Loan Servicers

Section 158.051. Registration Required - Sec. 158.051. REGISTRATION REQUIRED. A person may not act as...

Section 158.052. Exemptions; Applicability - Sec. 158.052. EXEMPTIONS; APPLICABILITY. (a) This chapter does not require...

Section 158.053. Application for Registration; Fee - Sec. 158.053. APPLICATION FOR REGISTRATION; FEE. (a) To register under...

Section 158.054. Update of Registration - Sec. 158.054. UPDATE OF REGISTRATION. A registrant shall notify the...

Section 158.055. Bond - Sec. 158.055. BOND. (a) Before approval of the registration, an...

Section 158.056. Approval of Registration - Sec. 158.056. APPROVAL OF REGISTRATION. The commissioner shall approve an...

Section 158.057. Notice of Change of Registrant's Condition - Sec. 158.057. NOTICE OF CHANGE OF REGISTRANT'S CONDITION. (a) A...

Section 158.058. Renewal of Registration - Sec. 158.058. RENEWAL OF REGISTRATION. (a) On or before December...

Section 158.059. Revocation of Registration - Sec. 158.059. REVOCATION OF REGISTRATION. The commissioner may, after notice...

Section 158.060. Appeal of Certain Commissioner Actions - Sec. 158.060. APPEAL OF CERTAIN COMMISSIONER ACTIONS. The denial, nonrenewal,...

Subchapter C. Investigations, Complaints, and Actions Against Registrant

Section 158.101. Disclosure Statement - Sec. 158.101. DISCLOSURE STATEMENT. A registrant shall provide to the...

Section 158.102. Investigation of Complaints Against Registrant; Surcharge - Sec. 158.102. INVESTIGATION OF COMPLAINTS AGAINST REGISTRANT; SURCHARGE. (a) On...

Section 158.103. Action on Complaint - Sec. 158.103. ACTION ON COMPLAINT. (a) If, after conducting an...

Section 158.104. Multi-State Examination Authority - Sec. 158.104. MULTI-STATE EXAMINATION AUTHORITY. To ensure that residential mortgage...

Section 158.1045. Issuance and Enforcement of Subpoena - Sec. 158.1045. ISSUANCE AND ENFORCEMENT OF SUBPOENA. (a) During an...

Section 158.105. Cease and Desist Order - Sec. 158.105. CEASE AND DESIST ORDER. (a) If the commissioner...

Section 158.106. Restitution - Sec. 158.106. RESTITUTION. The commissioner may order a residential mortgage...

Chapter 159 - Wrap Mortgage Loan Financing

Subchapter A. General Provisions

Section 159.001. Definitions - Sec. 159.001. DEFINITIONS. In this chapter: (1) "Commissioner" means the...

Section 159.002. Inapplicability of Chapter - Sec. 159.002. INAPPLICABILITY OF CHAPTER. (a) In this section, "unimproved...

Section 159.003. Exemptions - Sec. 159.003. EXEMPTIONS. (a) The following persons are exempt from...

Subchapter B. Licensing or Registration

Section 159.051. License or Registration Required - Sec. 159.051. LICENSE OR REGISTRATION REQUIRED. A person may not...

Subchapter C. Transaction Requirements; Remedies

Section 159.101. Disclosure Statement; Option to Rescind - Sec. 159.101. DISCLOSURE STATEMENT; OPTION TO RESCIND. (a) A wrap...

Section 159.102. Foreign Language Requirement - Sec. 159.102. FOREIGN LANGUAGE REQUIREMENT. If the negotiations that precede...

Section 159.103. Failure to Provide Disclosure: Tolling of Limitations - Sec. 159.103. FAILURE TO PROVIDE DISCLOSURE: TOLLING OF LIMITATIONS. If...

Section 159.104. Failure to Provide Disclosure Before Closing; Right of Rescission - Sec. 159.104. FAILURE TO PROVIDE DISCLOSURE BEFORE CLOSING; RIGHT OF...

Section 159.105. Enforceability of Wrap Lien - Sec. 159.105. ENFORCEABILITY OF WRAP LIEN. A lien securing a...

Section 159.106. Borrower's Right of Action - Sec. 159.106. BORROWER'S RIGHT OF ACTION. (a) A wrap borrower...

Section 159.107. Waiver or Avoidance Prohibited - Sec. 159.107. WAIVER OR AVOIDANCE PROHIBITED. (a) Any purported waiver...

Section 159.108. Rulemaking Authority - Sec. 159.108. RULEMAKING AUTHORITY. The finance commission may adopt and...

Subchapter D. Duties Owed to Wrap Borrower

Section 159.151. Money Held in Trust - Sec. 159.151. MONEY HELD IN TRUST. A person who collects...

Section 159.152. Fiduciary Duty - Sec. 159.152. FIDUCIARY DUTY. A person who collects or receives...

Subchapter E. Wrap Borrower's Rights

Section 159.201. Applicability of Subchapter - Sec. 159.201. APPLICABILITY OF SUBCHAPTER. This subchapter applies only to...

Section 159.202. Wrap Borrower's Right to Deduct - Sec. 159.202. WRAP BORROWER'S RIGHT TO DEDUCT. The wrap borrower,...

Subchapter F. Enforcement of Certain Registration Requirements

Section 159.251. Applicability of Subchapter - Sec. 159.251. APPLICABILITY OF SUBCHAPTER. This subchapter applies only to...

Section 159.252. Inspection; Investigation - Sec. 159.252. INSPECTION; INVESTIGATION. (a) The commissioner may conduct an...

Section 159.253. Issuance and Enforcement of Subpoena - Sec. 159.253. ISSUANCE AND ENFORCEMENT OF SUBPOENA. (a) During an...

Subchapter G. Enforcement of Chapter

Section 159.301. Cease and Desist Order - Sec. 159.301. CEASE AND DESIST ORDER. (a) The commissioner, if...

Chapter 180 - Residential Mortgage Loan Originators

Subchapter A. General Provisions

Section 180.001. Short Title - Sec. 180.001. SHORT TITLE. This chapter may be cited as...

Section 180.002. Definitions - Sec. 180.002. DEFINITIONS. In this chapter: (1) "Clerical or support...

Section 180.003. Exemption - Sec. 180.003. EXEMPTION. (a) The following persons are exempt from...

Section 180.004. Administrative Authority; Rulemaking - Sec. 180.004. ADMINISTRATIVE AUTHORITY; RULEMAKING. (a) A regulatory official has...

Section 180.005. Severability - Sec. 180.005. SEVERABILITY. The provisions of this chapter or applications...

Subchapter B. Licensing and Registration Requirements

Section 180.051. State License Required; Renewal - Sec. 180.051. STATE LICENSE REQUIRED; RENEWAL. (a) Unless exempted by...

Section 180.0511. Temporary Authority to Originate Loans - Sec. 180.0511. TEMPORARY AUTHORITY TO ORIGINATE LOANS. (a) A registered...

Section 180.052. Enrollment or Registration With Nationwide Mortgage Licensing System and Registry - Sec. 180.052. ENROLLMENT OR REGISTRATION WITH NATIONWIDE MORTGAGE LICENSING SYSTEM...

Section 180.053. Application Form - Sec. 180.053. APPLICATION FORM. (a) A regulatory official shall prescribe...

Section 180.054. Criminal and Other Background Checks - Sec. 180.054. CRIMINAL AND OTHER BACKGROUND CHECKS. (a) In connection...

Section 180.055. Issuance of License - Sec. 180.055. ISSUANCE OF LICENSE. (a) The regulatory official may...

Section 180.056. Prelicensing Educational Courses - Sec. 180.056. PRELICENSING EDUCATIONAL COURSES. (a) An applicant for a...

Section 180.057. Testing Requirements - Sec. 180.057. TESTING REQUIREMENTS. (a) An applicant for a residential...

Section 180.058. Recovery Fund Fee or Surety Bond Requirement - Sec. 180.058. RECOVERY FUND FEE OR SURETY BOND REQUIREMENT. (a)...

Section 180.059. Standards for License Renewal - Sec. 180.059. STANDARDS FOR LICENSE RENEWAL. A license to act...

Section 180.060. Continuing Education Courses - Sec. 180.060. CONTINUING EDUCATION COURSES. (a) To renew a residential...

Section 180.061. Rulemaking Authority - Sec. 180.061. RULEMAKING AUTHORITY. A rulemaking authority may adopt rules...

Section 180.062. Confidentiality of Information - Sec. 180.062. CONFIDENTIALITY OF INFORMATION. (a) Except as otherwise provided...

Subchapter C. Reporting and Other Requirements Regarding Nationwide Mortgage Licensing System and Registry

Section 180.101. Mortgage Call Reports - Sec. 180.101. MORTGAGE CALL REPORTS. Each licensed residential mortgage loan...

Section 180.102. Report of Violations and Enforcement Actions - Sec. 180.102. REPORT OF VIOLATIONS AND ENFORCEMENT ACTIONS. Subject to...

Section 180.103. Information Challenge Process - Sec. 180.103. INFORMATION CHALLENGE PROCESS. The applicable rulemaking authority by...

Subchapter D. Business Practices; Prohibited Acts

Section 180.151. Display of Unique Identifier - Sec. 180.151. DISPLAY OF UNIQUE IDENTIFIER. The unique identifier of...

Section 180.152. Representations - Sec. 180.152. REPRESENTATIONS. An individual who is engaged exclusively in...

Section 180.153. Prohibited Acts and Practices - Sec. 180.153. PROHIBITED ACTS AND PRACTICES. An individual or other...

Subchapter D. -1. Requirement for Individuals Originating Residential Mortgage Loans Exclusively for Certain Depository Institution

Section 180.171. Enrollment With Department of Savings and Mortgage Lending - Sec. 180.171. ENROLLMENT WITH DEPARTMENT OF SAVINGS AND MORTGAGE LENDING....

Subchapter E. Enforcement Provisions

Section 180.201. Enforcement Authority - Sec. 180.201. ENFORCEMENT AUTHORITY. To ensure the effective supervision and...

Section 180.202. Administrative Penalty - Sec. 180.202. ADMINISTRATIVE PENALTY. (a) A regulatory official may impose...

Section 180.203. Cease and Desist Orders - Sec. 180.203. CEASE AND DESIST ORDERS. A regulatory official may:...

Subchapter F. Duties of Regulatory Officials

Section 180.251. General Duties of Regulatory Officials - Sec. 180.251. GENERAL DUTIES OF REGULATORY OFFICIALS. (a) The savings...

Section 180.252. Authority of Regulatory Officials to Establish Relationship With Nationwide Mortgage Licensing System and Registry; Contracting Authority - Sec. 180.252. AUTHORITY OF REGULATORY OFFICIALS TO ESTABLISH RELATIONSHIP WITH...

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Texas Statutes Title 3 - Financial Institutions and Businesses Subtitle E - Other Financial Businesses

Texas Statutes
Title 3 - Financial Institutions and Businesses
Subtitle E - Other Financial Businesses