Sec. 393.101. REGISTRATION STATEMENT. (a) Before conducting business in this state, a credit services organization shall register with the secretary of state by filing a statement that:
(1) contains the name and address of:
(A) the organization; and
(B) each person who directly or indirectly owns or controls at least 10 percent of the outstanding shares of stock in the organization; and
(2) fully discloses any litigation or unresolved complaint relating to the operation of the organization filed with a governmental authority of this state or contains a notarized statement that there has been no litigation or unresolved complaint of that type.
(b) The organization shall keep a copy of the registration statement in its files.
(c) The secretary of state may not require an organization to provide information other than information contained in the registration statement.
(d) A registration certificate expires on the first anniversary of its date of issuance. A registered credit services organization may renew a registration certificate by filing a renewal application, in the form prescribed by the secretary of state, and paying the renewal fee.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.44(a), eff. Sept. 1, 1999.Section: Previous 393.001 393.002 393.003 393.101 393.102 393.103 393.104 393.105 393.106 393.201 393.202 393.203 393.204 393.221 393.222 Next
Last modified: September 28, 2016