Texas Finance Code

§ 156.002 — DEFINITIONS

FI § 156.002Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part E. OTHER FINANCIAL BUSINESSES · Ch. 156. RESIDENTIAL MORTGAGE LOAN COMPANIES · Art. A. GENERAL PROVISIONS

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In this chapter:

(1)"Auxiliary mortgage loan activity company" means a political subdivision of this state or the federal government doing business for consumers in this state, or an organization that qualifies for an exemption from state franchise and sales and use tax as a 501(c)(3) organization, that is involved in affordable home ownership lending programs. (1-a) "Commissioner" means the savings and mortgage lending commissioner. (1-b) "Credit union subsidiary organization" has the meaning assigned by Section 180.002. (1-c) "Department" means the Department of Savings and Mortgage Lending.

(2)"Disciplinary action" means an order by the commissioner that requires one or more of the following:

(A)suspension or revocation of a license or registration under this chapter;

(B)probation of a suspension or revocation of a license or registration under this chapter on terms and conditions that the commissioner determines appropriate;

(C)a reprimand of a person licensed or registered under this chapter; or

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Legislative history

Acts 2007, 80th Leg., R.S., Ch. 228 (H.B. 1716), Sec. 1, eff. September 1, 2007. Acts 2007, 80th Leg., R.S., Ch. 905 (H.B. 2783), Sec. 1, eff. September 1, 2007. Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 6.052, eff. September 1, 2007. Acts 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124), Sec. 5, eff. September 1, 2011. Acts 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124), Sec. 65(a)(1), eff. September 1, 2011. Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004), Sec. 3, eff. September 1, 2013.