Texas Finance Code § 393.407 Payment Of Money In Surety Account To Credit Services Organization

Sec. 393.407. PAYMENT OF MONEY IN SURETY ACCOUNT TO CREDIT SERVICES ORGANIZATION. (a) A depository may not pay money in a surety account to the credit services organization that established the account or a representative of the organization unless the organization or representative presents a statement issued by the secretary of state indicating that the requirement of Section 393.406 has been satisfied in relation to the account.

(b) The secretary of state may conduct an investigation and require information to be submitted as necessary to enforce this section.

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.

Section: Previous  393.307  393.401  393.402  393.403  393.404  393.405  393.406  393.407  393.501  393.502  393.503  393.504  393.505  393.601  393.602  Next

Last modified: September 28, 2016