Texas Finance Code

§ 152.409 — NOTICE, HEARING, AND OTHER PROCEDURES FOR NONEMERGENCY ORDERS

FI § 152.409Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part E. OTHER FINANCIAL BUSINESSES · Ch. 152. REGULATION OF MONEY SERVICES BUSINESSES · Art. I. ENFORCEMENT

Statute text

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(a)This section applies to an order issued by the commissioner under this subchapter that is not an emergency order.

(b)An order to which this section applies becomes effective only after notice and an opportunity for hearing. The order must:

(1)state the grounds on which the order is based;

(2)to the extent applicable, state the action or violation from which the person subject to the order must cease and desist or the affirmative action the person must take to correct a condition resulting from the violation or that is otherwise appropriate;

(3)be delivered by personal delivery or sent by certified mail, return receipt requested, to the person against whom the order is directed at the person's last known address;

(4)state the effective date of the order, which may not be before the 21st day after the date the order is delivered or mailed; and

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Legislative history

Added by Acts 2023, 88th Leg., R.S., Ch. 277 (S.B. 895), Sec. 1.01, eff. September 1, 2023.