Texas Finance Code

§ 158.058 — RENEWAL OF REGISTRATION

FI § 158.058Title 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

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(a)On or before December 31 of each year, a registrant shall renew its registration for the next calendar year and shall pay to the commissioner a renewal fee in an amount not to exceed $500 as determined by the finance commission. To renew a registration, a registrant must continue to meet all standards for registration provided by this chapter.

(b)If a registrant fails to file a renewal and pay the renewal fee on or before December 31 of a calendar year, the registrant's registration is considered expired at that time and the registrant:

(1)must reapply for registration as provided by Section 158.053; and

(2)may not conduct business as a residential mortgage loan servicer until the registration is approved.

(c)The commissioner may refuse to renew a registration if the registrant:

(1)has failed to pay any fees or penalties imposed under this chapter;

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Legislative history

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