Texas Finance Code
§ 394.212 — PROHIBITED ACTS AND PRACTICES
FI § 394.212Title 5. PROTECTION OF CONSUMERS OF FINANCIAL SERVICES · Ch. 394. DEBTOR ASSISTANCE · Art. C. CONSUMER DEBT MANAGEMENT SERVICES
Statute text
View on source(a)A provider may not:
(1)purchase a debt or obligation of a consumer;
(2)receive or charge a fee in the form of a promissory note or other negotiable instrument other than a check or a draft;
(3)lend money or provide credit to the consumer;
(4)obtain a mortgage or other security interest in property owned by a consumer;
(5)engage in business with a for-profit business entity described by Section 394.204(c)(7) without prior consent of the commissioner, except that unless denied, consent is considered granted 30 days after the date the provider notifies the commissioner of the intent to engage in business with a for-profit business entity described by Section 394.204(c)(7);
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Legislative history
Acts 2023, 88th Leg., R.S., Ch. 159 (S.B. 1371), Sec. 32, eff. September 1, 2023.