Bill Text: TX SB1530 | 2017-2018 | 85th Legislature | Introduced
Bill Title: Relating to the regulation of persons and business activities subject to regulation by certain finance agencies.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2017-04-25 - Left pending in committee [SB1530 Detail]
Download: Texas-2017-SB1530-Introduced.html
| By: Estes | S.B. No. 1530 | |
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| relating to the regulation of persons and business activities | ||
| subject to regulation by certain finance agencies. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Subchapter A, Chapter 11, Finance Code, is | ||
| amended by adding Section 11.003 to read as follows: | ||
| Sec. 11.003. EXCLUSIVE REGULATORY AUTHORITY. (a) In this | ||
| section: | ||
| (1) "Business entity" has the meaning assigned by | ||
| Section 306.001. | ||
| (2) "Person subject to regulation by a finance agency" | ||
| means a business entity or other person that: | ||
| (A) is required by state law to obtain a license, | ||
| permit, registration certificate, or other evidence of authority | ||
| from a finance agency to practice the person's occupation or | ||
| conduct the entity's business in this state; and | ||
| (B) is subject to the primary regulatory | ||
| authority of the finance agency. | ||
| (b) Except as expressly provided otherwise by this code, a | ||
| person subject to regulation by a finance agency and the person's | ||
| business activities subject to that regulation are subject only to | ||
| applicable federal law and regulations and applicable state law, | ||
| including rules adopted by the finance commission. | ||
| SECTION 2. This Act takes effect immediately if it receives | ||
| a vote of two-thirds of all the members elected to each house, as | ||
| provided by Section 39, Article III, Texas Constitution. If this | ||
| Act does not receive the vote necessary for immediate effect, this | ||
| Act takes effect September 1, 2017. | ||
