Texas Finance Code

§ 351.002 — DEFINITIONS

FI § 351.002Title 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS · Part B. LOANS AND FINANCED TRANSACTIONS · Ch. 351. PROPERTY TAX LENDERS · Art. A. GENERAL PROVISIONS

Statute text

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In this chapter:

(1)"Property tax lender" means a person that engages in activity requiring a license under Section 351.051. The term does not include:

(A)a person who is sponsored by a licensed property tax lender to assist with or perform the acts of a property tax lender; or

(B)a person who performs only clerical functions such as delivering a loan application to a property tax lender, gathering or requesting information related to a property tax loan application on behalf of the prospective borrower or property tax lender, word processing, sending correspondence, or assembling files.

(2)"Property tax loan" means an advance of money:

(A)in connection with a transfer of lien under Section 32.06, Tax Code, or a contract under Section 32.065, Tax Code;

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Legislative history

Added by Acts 2007, 80th Leg., R.S., Ch. 1220 (H.B. 2138), Sec. 1, eff. September 1, 2007.