Texas Finance Code

§ 393.101 — REGISTRATION STATEMENT

FI § 393.101Title 5. PROTECTION OF CONSUMERS OF FINANCIAL SERVICES · Ch. 393. CREDIT SERVICES ORGANIZATIONS · Art. B. REGISTRATION AND DISCLOSURE STATEMENTS

Statute text

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(a)Before conducting business in this state, a credit services organization shall register with the secretary of state by filing a statement that:

(1)contains the name and address of:

(A)the organization; and

(B)each person who directly or indirectly owns or controls at least 10 percent of the outstanding shares of stock in the organization; and

(2)fully discloses any litigation or unresolved complaint relating to the operation of the organization filed with a governmental authority of this state or contains a notarized statement that there has been no litigation or unresolved complaint of that type.

(b)The organization shall keep a copy of the registration statement in its files.

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Legislative history

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.44(a), eff. Sept. 1, 1999.