Texas Finance Code

§ 393.611 — MINIMUM ASSETS FOR LICENSE

FI § 393.611Title 5. PROTECTION OF CONSUMERS OF FINANCIAL SERVICES · Ch. 393. CREDIT SERVICES ORGANIZATIONS · Art. G. LICENSING AND REGULATION OF CERTAIN CREDIT SERVICES ORGANIZATIONS

Statute text

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A license holder shall maintain net assets used or readily available for use in conducting the business of each of the offices for which a license is held under this subchapter, in an amount that is not less than the lesser of:

(1)$25,000 for each office; or

(2)$2,500,000 in the aggregate.

Legislative history

Added by Acts 2011, 82nd Leg., R.S., Ch. 1302 (H.B. 2594), Sec. 2, eff. January 1, 2012.