Bill Text: TX SB1715 | 2013-2014 | 83rd Legislature | Introduced
Bill Title: Relating to a requirement that a credit access business include copies of its agreements with third-party lenders in an application for a license.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2013-04-16 - Left pending in committee [SB1715 Detail]
Download: Texas-2013-SB1715-Introduced.html
83R10291 RWG-D | ||
By: Davis | S.B. No. 1715 |
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relating to a requirement that a credit access business include | ||
copies of its agreements with third-party lenders in an application | ||
for a license. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 393.604, Finance Code, is amended by | ||
amending Subsection (a) and adding Subsection (d) to read as | ||
follows: | ||
(a) An application for a license under this subchapter must: | ||
(1) be under oath; | ||
(2) give the approximate location from which the | ||
business is to be conducted; | ||
(3) identify the business's principal parties in | ||
interest; | ||
(4) contain the name, physical address, and telephone | ||
number of all third-party lender organizations with which the | ||
business contracts to provide services described by Section | ||
393.602(a) or from which the business arranges extensions of | ||
consumer credit described by Section 393.602(a); [ |
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(5) include a copy of each agreement between the | ||
business and a third-party lender organization with which the | ||
business contracts to provide services described by Section | ||
393.602(a) or from which the business arranges extensions of | ||
consumer credit described by Section 393.602(a); and | ||
(6) contain other relevant information that the | ||
commissioner requires for the findings required under Section | ||
393.607. | ||
(d) Information provided by an applicant under this section | ||
is public information for the purposes of Chapter 552, Government | ||
Code, notwithstanding any exception provided by that chapter. | ||
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, 2013. |