Texas Finance Code
§ 342.051 — LICENSE REQUIRED
FI § 342.051Title 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS · Part B. LOANS AND FINANCED TRANSACTIONS · Ch. 342. CONSUMER LOANS · Art. B. AUTHORIZED ACTIVITIES; LICENSE
Statute text
View on source(a)A person must hold a license issued under this chapter to:
(1)engage in the business of making, transacting, or negotiating loans subject to this chapter; or
(2)contract for, charge, or receive, directly or indirectly, in connection with a loan subject to this chapter, a charge, including interest, compensation, consideration, or another expense, authorized under this chapter that in the aggregate exceeds the charges authorized under other law.
(b)A person may not use any device, subterfuge, or pretense to evade the application of this section.
(c)A person is not required to obtain a license under Subsection (a) if the person is:
(1)a bank, savings bank, or savings and loan association organized under the laws of the United States or under the laws of the institution's state of domicile; or
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Legislative history
Acts 2005, 79th Leg., Ch. 728 (H.B. 2018), Sec. 11.116, eff. September 1, 2005. Acts 2007, 80th Leg., R.S., Ch. 905 (H.B. 2783), Sec. 13, eff. September 1, 2007. Acts 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124), Sec. 64, eff. September 1, 2011. Acts 2011, 82nd Leg., R.S., Ch. 655 (S.B. 1124), Sec. 65(a)(15), eff. September 1, 2011.