Texas Finance Code

§ 158.057 — NOTICE OF CHANGE OF REGISTRANT'S CONDITION

FI § 158.057Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part E. OTHER FINANCIAL BUSINESSES · Ch. 158. RESIDENTIAL MORTGAGE LOAN SERVICERS · Art. B. REGISTRATION OF RESIDENTIAL MORTGAGE LOAN SERVICERS

Statute text

View on source

(a)A registrant shall notify the commissioner in writing not later than the 10th day after:

(1)the filing for bankruptcy or reorganization of the registrant;

(2)the filing of a criminal indictment related in any manner to the registrant's activities; or

(3)the receipt of notification of the issuance of a final order to cease and desist, a final order of the suspension or revocation of a license or registration, or another final formal or informal regulatory action taken against the registrant in this or another state.

(b)The notification required by Subsection (a)(3) must include the reasons for a final regulatory action described by that subdivision.

Legislative history

Added by Acts 2011, 82nd Leg., R.S., Ch. 588 (S.B. 17), Sec. 1, eff. September 1, 2011.