Texas Finance Code

§ 349.101 — NO LIABILITY IF VIOLATION UNINTENTIONAL AND FROM BONA FIDE ERROR OR IF IN CONFORMITY WITH OTHER LAW

FI § 349.101Title 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS · Part B. LOANS AND FINANCED TRANSACTIONS · Ch. 349. PENALTIES AND LIABILITIES · Art. B. GENERAL LIMITATIONS ON LIABILITY

Statute text

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(a)A person is not liable under Section 349.001, 349.002, or 349.003 if the person shows by a preponderance of evidence that:

(1)the violation:

(A)was not intentional; and

(B)resulted from a bona fide error notwithstanding the maintenance of procedures reasonably adopted to avoid such a violation; or

(2)the violation was an act done or omitted in good faith in conformity with:

(A)a rule adopted under, or interpretation of, this title by a state agency, board, or commission;

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Legislative history

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.