Texas Finance Code Title 4, Chapter 341 - General Provisions
SUBCHAPTER A DEFINITIONS AND TIME COMPUTATION
- Texas Section 341.001 - Definitions
In this subtitle: (1) "Authorized lender" means a person who holds a license issued under Chapter 342, a bank, or a savings association. (2) "Bank"...
SUBCHAPTER B REGULATING OFFICIAL
- Texas Section 341.002 - Computation Of Month
(a) For the computation of time in this subtitle, a month is the period from a date in a month to the corresponding date in...
- Texas Section 341.101 - Consumer Credit Commissioner
The consumer credit commissioner has the powers and shall perform all duties relating to the issuance of a license under this subtitle and is responsible...
- Texas Section 341.102 - Regulation Of Banks
(a) The banking commissioner shall enforce this subtitle relating to the regulation of a state bank operating under this subtitle. (b) The official exercising authority...
- Texas Section 341.103 - Regulation Of Savings Institutions, Licensed Mortgage Brokers And Loan Officers, And Registered Mortgage Bankers And Licensed Loan Officers
(a) The savings and mortgage lending commissioner shall enforce this subtitle relating to the regulation of: (1) state savings associations operating under this subtitle; (2)...
SUBCHAPTER C REVISED CEILINGS AND BRACKETS
- Texas Section 341.104 - Regulation Of Credit Unions
(a) The credit union commissioner shall enforce this subtitle relating to the regulation of state credit unions operating under this subtitle. (b) The official exercising...
- Texas Section 341.201 - Definitions Of Indexes
In this subchapter: (1) "Consumer price index" means the Consumer Price Index for Urban Wage Earners and Clerical Workers: U.S. City Average, All Items, 1967=100,...
- Texas Section 341.202 - Revision Of Ceiling Or Bracket
(a) Each year the commissioner shall compute, in accordance with Section 341.203, the amount of each: (1) ceiling on a cash advance regulated under this...
- Texas Section 341.203 - Computation Of Revised Ceiling Or Bracket
(a) The amount of a revised ceiling or bracket is computed by: (1) dividing the reference base index into the consumer price index at the...
SUBCHAPTER D ADVERTISING REQUIREMENTS
- Texas Section 341.204 - Publication Of Revised Ceiling, Bracket, Or Index Information
(a) The commissioner shall send the amount of a revised ceiling or bracket computed under Section 341.203 to the secretary of state for publication in...
SUBCHAPTER E PROHIBITIONS AND VIOLATIONS
- Texas Section 341.301 - Information About Advertisers
(a) In each advertisement that purports to offer credit regulated by this subtitle, Subtitle C, or Chapter 394, the advertiser shall disclose the legal or...
- Texas Section 341.401 - Discrimination Prohibited
See, also, italicized material following text of this section (a) An authorized lender or other person involved in a transaction subject to this title...
- Texas Section 341.402 - Penalties For Prohibited Discrimination
(a) A person who violates Section 341.401 is liable to the aggrieved individual for: (1) the actual damages caused by the violation; (2) punitive damages...
- Texas Section 341.403 - False, Misleading, Or Deceptive Advertising
(a) A person may not, in any manner, advertise or cause to be advertised a false, misleading, or deceptive statement or representation relating to a...
- Texas Section 341.404 - Prohibited Acts Relating To A Loan
A person may not perform an act, including advertising, or offer a service that would cause another to believe that the person is offering to...
- Texas Section 341.405 - Penalty For Making Illegal Offer
(a) A person commits an offense if the person violates Section 341.404. An offense under that section is a Class C misdemeanor. (b) A person...
SUBCHAPTER F LICENSING AND REGULATION IN GENERAL
- Texas Section 341.406 - When Act Or Omission Not Violation
An act or omission does not violate this title if the act or omission conforms to: (1) Subchapter C; (2) a provision determined by the...
- Texas Section 341.501 - Staggered Renewal
The finance commission by rule may adopt a system under which licenses under this subtitle expire on various dates during the year. For the year...
SUBCHAPTER G STATE-LICENSED RESIDENTIAL MORTGAGE LOAN ORIGINATOR RECOVERY FUND
- Texas Section 341.502 - Form Of Loan Contract And Related Documents
(a) A contract for a loan under Chapter 342, a retail installment transaction under Chapter 348, or a home equity loan regulated by the Office...
- Texas Section 341.601 - Definition
In this subchapter, "fund" means the state-licensed residential mortgage loan originator recovery fund. Added by Acts 2009, 81st Leg., R.S., Ch. 1104 (H.B. 10), Sec....
- Texas Section 341.602 - State-licensed Residential Mortgage Loan Originator Recovery Fund
(a) The commissioner under Chapter 180 shall establish, administer, and maintain a state-licensed residential mortgage loan originator recovery fund as provided by this subchapter. The...
- Texas Section 341.603 - Funding
(a) An applicant for an original residential mortgage loan originator license issued under Chapter 342, 347, 348, or 351 or for renewal of a residential...
- Texas Section 341.604 - Statute Of Limitations
(a) An application for the recovery of actual damages from the fund under Section 341.605 may not be filed after the second anniversary of the...
- Texas Section 341.605 - Procedure For Recovery
(a) To recover from the fund, a residential mortgage loan applicant must file a written sworn application with the commissioner in the form prescribed by...
- Texas Section 341.606 - Recovery Limits
(a) A person entitled to receive payment out of the fund is entitled to receive reimbursement of actual, out-of-pocket damages as provided by this section....
- Texas Section 341.607 - Revocation Of License For Payment From Fund
(a) The commissioner may revoke a residential mortgage loan originator license issued under this subtitle on proof that the commissioner has made a payment from...
- Texas Section 341.608 - Subrogation
When the commissioner has paid an applicant an amount from the fund under Section 341.605, the commissioner is subrogated to all of the rights of...
- Texas Section 341.609 - Failure To Comply With Subchapter Or Rule Adopted By Finance Commission
The failure of an applicant under Section 341.605 to comply with a provision of this subchapter or a rule adopted by the finance commission relating...
- Texas Section 341.610 - Rulemaking
The finance commission may adopt rules on the commissioner's recommendation to promote a fair and orderly administration of the fund consistent with the purposes of...
Last modified: September 28, 2016