Texas Finance Code
§ 156.104 — MORTGAGE INDUSTRY ADVISORY COMMITTEE
FI § 156.104Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part E. OTHER FINANCIAL BUSINESSES · Ch. 156. RESIDENTIAL MORTGAGE LOAN COMPANIES · Art. B. ADMINISTRATION PROVISIONS
Statute text
View on source(a)The mortgage industry advisory committee is created to advise and assist the commissioner.
(b)The advisory committee is composed of six members appointed by the commissioner. Each of the members must be:
(1)under the regulatory authority of the department;
(2)actively engaged in the business of originating, brokering, or funding residential mortgage loans at the time of appointment; and
(3)primarily engaged in the business of originating, brokering, or funding residential mortgage loans for at least two years before the member's appointment. (b-1) The members of the committee must include six individuals licensed by the department as residential mortgage loan originators, two of whom must hold an active real estate broker or salesperson license issued under Chapter 1101, Occupations Code.
(c)Appointments to the advisory committee shall be made without regard to the sex, race, color, age, disability, religion, or national origin of the appointees.
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Legislative history
Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 6.03, eff. September 1, 2005. Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 3, eff. September 1, 2009. Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 4, eff. September 1, 2009. Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 5, eff. April 1, 2010. Acts 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124), Sec. 10, eff. September 1, 2011. Acts 2013, 83rd Leg., R.S., Ch. 160 (S.B. 1004), Sec. 10, eff. September 1, 2013.