By McCall H.B. No. 1816
77R1066 DWS-D
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to continuation and functions of the Office of Consumer
1-3 Credit Commissioner and the regulation of certain financial
1-4 businesses.
1-5 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-6 SECTION 1. Section 14.056, Finance Code, is amended to read
1-7 as follows:
1-8 Sec. 14.056. CONFLICT OF INTEREST. (a) In this section,
1-9 "Texas trade association" means a cooperative and voluntarily
1-10 joined association of business or professional competitors in this
1-11 state designed to assist its members and its industry or profession
1-12 in dealing with mutual business or professional problems and in
1-13 promoting their common interest.
1-14 (b) A person may not be an employee of the office employed
1-15 in a "bona fide executive, administrative, or professional
1-16 capacity," as that phrase is used for purposes of establishing an
1-17 exemption to the overtime provisions of the federal Fair Labor
1-18 Standards Act of 1938 (29 U.S.C. Section 201 et seq.), and its
1-19 subsequent amendments, if:
1-20 (1) the person is an officer, employee, or paid
1-21 consultant of a Texas trade association in an industry regulated by
1-22 the office; or
1-23 (2) the person's spouse is an officer, manager, or
1-24 paid consultant of a Texas trade association in an industry
2-1 regulated by the office.
2-2 (c) A person may not act as the general counsel to the
2-3 office if the person is required to register as a lobbyist under
2-4 Chapter 305, Government Code, because of the person's activities
2-5 for compensation on behalf of a profession related to the operation
2-6 of [The commissioner or an assistant commissioner, examiner, or
2-7 other employee of the office may not be an officer, employee, or
2-8 paid consultant of a trade association in an industry regulated by]
2-9 the office.
2-10 SECTION 2. Section 14.058, Finance Code, is amended to read
2-11 as follows:
2-12 Sec. 14.058. EQUAL EMPLOYMENT OPPORTUNITY. (a) The
2-13 commissioner or the commissioner's designee shall prepare and
2-14 maintain a written policy statement that implements a program of
2-15 equal employment opportunity to ensure that all personnel decisions
2-16 are made without regard to race, color, disability, sex, religion,
2-17 age, or national origin.
2-18 (b) The policy statement must include:
2-19 (1) personnel policies, including policies relating to
2-20 recruitment, evaluation, selection, training, and promotion of
2-21 personnel, that show the intent of the office to avoid the unlawful
2-22 employment practices described by Chapter 21, Labor Code; and
2-23 (2) an analysis of the extent to which the composition
2-24 of the office's personnel is in accordance with state and federal
2-25 law and a description of reasonable methods to achieve compliance
2-26 with state and federal law.
2-27 (c) The policy statement must:
3-1 (1) be updated annually;
3-2 (2) be reviewed by the state Commission on Human
3-3 Rights for compliance with Subsection (b)(1); and
3-4 (3) be filed with the governor's office [plan to
3-5 ensure implementation of a program of equal employment opportunity
3-6 under which all personnel transactions are made without regard to
3-7 race, color, disability, sex, religion, age, or national origin.
3-8 The plan must include:]
3-9 [(1) a comprehensive analysis of the office's
3-10 workforce by race, sex, ethnic origin, class of position, and
3-11 salary or wage;]
3-12 [(2) plans for recruitment, evaluation, selection,
3-13 appointment, training, promotion, and other personnel policies;]
3-14 [(3) steps reasonably designed to overcome any
3-15 identified underutilization of minorities and women in the office's
3-16 workforce; and]
3-17 [(4) objectives and goals, timetables for achieving
3-18 those objectives and goals, and assignment of responsibility for
3-19 their achievement.]
3-20 [(b) The plan must cover an annual period and the
3-21 commissioner shall update it at least annually.]
3-22 [(c) The office shall submit a plan progress report to the
3-23 governor's office not later than the 30th day after November 1 and
3-24 April 1 of each year and shall include in the report steps the
3-25 office has taken during the reporting period to comply with
3-26 requirements of this section].
3-27 SECTION 3. Section 14.062, Finance Code, is amended to read
4-1 as follows:
4-2 Sec. 14.062. CONSUMER INFORMATION AND COMPLAINTS. (a) The
4-3 office shall maintain a file on each written complaint filed with
4-4 the office. The file must include:
4-5 (1) the name of the person who filed the complaint;
4-6 (2) the date the complaint is received by the office;
4-7 (3) the subject matter of the complaint;
4-8 (4) the name of each person contacted in relation to
4-9 the complaint;
4-10 (5) a summary of the results of the review or
4-11 investigation of the complaint; and
4-12 (6) an explanation of the reason the file was closed,
4-13 if the office closed the file without taking action other than to
4-14 investigate the complaint.
4-15 (b) The office shall provide to the person filing the
4-16 complaint and to each person who is a subject of the complaint a
4-17 copy of the office's policies and procedures relating to complaint
4-18 investigation and resolution.
4-19 (c) The office, at least quarterly until final disposition
4-20 of the complaint, shall notify the person filing the complaint and
4-21 each person who is a subject of the complaint of the status of the
4-22 investigation [commissioner shall keep an information file about
4-23 each complaint filed with the office relating to a license holder
4-24 or other lender regulated by the office under this chapter or Title
4-25 4 or 5.]
4-26 [(b) At least quarterly until final disposition of any
4-27 written complaint filed with the office relating to a license
5-1 holder or other lender regulated by the office, the commissioner
5-2 shall notify the parties to the complaint of the status of the
5-3 complaint] unless the notice would jeopardize an undercover
5-4 investigation.
5-5 SECTION 4. Section 14.066, Finance Code, is amended to read
5-6 as follows:
5-7 Sec. 14.066. SUNSET PROVISION. The office is subject to
5-8 Chapter 325, Government Code (Texas Sunset Act). Unless continued
5-9 in existence as provided by that chapter, the office is abolished
5-10 September 1, 2013 [2001].
5-11 SECTION 5. Subchapter B, Chapter 14, Finance Code, is amended
5-12 by adding Section 14.067 to read as follows:
5-13 Sec. 14.067. EMPLOYEE INCENTIVE PROGRAM. The commissioner or
5-14 the commissioner's designee shall provide to agency employees
5-15 information and training on the benefits and methods of
5-16 participation in the state employee incentive program.
5-17 SECTION 6. Section 14.106, Finance Code, is amended to read
5-18 as follows:
5-19 Sec. 14.106. INFORMATION [PROCEDURES] REGARDING EMPLOYMENT
5-20 REQUIREMENTS [STANDARDS OF CONDUCT]. The commissioner or the
5-21 commissioner's designee shall provide to agency employees, as often
5-22 as necessary, information regarding the requirements for employment
5-23 under this chapter, including information regarding a person's
5-24 responsibilities under applicable laws relating to standards of
5-25 conduct for state employees [shall develop a procedure to ensure
5-26 that a person holding the position of commissioner and each
5-27 assistant commissioner, examiner, and other employee of the office
6-1 is informed of the standards of conduct required by law for a state
6-2 official or employee].
6-3 SECTION 7. Section 14.107, Finance Code, is amended to read
6-4 as follows:
6-5 Sec. 14.107. FEES. (a) The finance commission
6-6 [commissioner] shall establish reasonable and necessary fees for
6-7 carrying out the commissioner's powers and duties under this
6-8 chapter, Title 4, and Chapters 371, 392, and 394 and under Chapters
6-9 38-41, Business & Commerce Code.
6-10 (b) The finance commission by rule shall set the fees for
6-11 licensing and examination under Chapter 342, 348, or 371 at amounts
6-12 or rates necessary to recover the costs of administering those
6-13 chapters. The rules may provide that the amount of a fee charged
6-14 to a license holder is based on the volume of the license holder's
6-15 regulated business and other key factors. The commissioner may
6-16 provide for collection of a single annual fee from a person
6-17 licensed under Chapter 342, 348, or 371 to include amounts due for
6-18 both licensing and examination.
6-19 SECTION 8. Section 341.001, Finance Code, is amended to read
6-20 as follows:
6-21 Sec. 341.001. DEFINITIONS. In this subtitle:
6-22 (1) "Authorized lender" means a person who holds a
6-23 license issued under Chapter 342, a bank, or a savings association.
6-24 (2) "Bank" means a person:
6-25 (A) organized as a state bank under Subtitle A,
6-26 Title 3, or under similar laws of another state if the deposits of
6-27 a bank from another state are insured by the Federal Deposit
7-1 Insurance Corporation; or
7-2 (B) organized as a national bank under 12 U.S.C.
7-3 Section 21 et seq., as subsequently amended.
7-4 (3) "Cash advance" means the total of the amount of
7-5 cash or its equivalent that the borrower receives and the amount
7-6 that is paid at the borrower's direction or request, on the
7-7 borrower's behalf, or for the borrower's benefit.
7-8 (4) "Commissioner" means the consumer credit
7-9 commissioner.
7-10 (5) "Credit union" means a person:
7-11 (A) doing business under Subtitle D, Title 3; or
7-12 (B) organized under the Federal Credit Union Act
7-13 (12 U.S.C. Section 1751 et seq.), as subsequently amended.
7-14 (6) "Deferred presentment transaction" means a
7-15 transaction in which:
7-16 (A) a cash advance is made in exchange for a
7-17 personal check or authorization to debit a deposit account;
7-18 (B) the amount of the check or authorized debit
7-19 equals the amount of the advance plus a fee; and
7-20 (C) the person making the advance agrees that
7-21 the check will not be cashed or deposited or the authorized debit
7-22 will not be made until a designated future date.
7-23 (7) "Finance commission" means the Finance Commission
7-24 of Texas or a subcommittee created by rule of the Finance
7-25 Commission of Texas.
7-26 (8) [(7)] "Interest" has the meaning assigned by
7-27 Section 301.002 [301.001].
8-1 (9) "Loan" has the meaning assigned by Section 301.002
8-2 and includes a sale-leaseback transaction and a deferred
8-3 presentment transaction.
8-4 (10) "Sale-leaseback transaction" means a transaction
8-5 in which a person sells personal property used primarily for
8-6 personal, family, or household use and the buyer of the property
8-7 agrees to lease the property back to the seller. In a
8-8 sale-leaseback transaction:
8-9 (A) the buyer is a creditor and the seller is an
8-10 obligor;
8-11 (B) an agreement to defer payment of a debt and
8-12 an obligation to pay the debt are established; and
8-13 (C) any amount received by the buyer in excess
8-14 of the price paid for the property by the buyer is interest subject
8-15 to this subtitle.
8-16 (11) [(8)] "Savings association" means a person:
8-17 (A) organized as a state savings and loan
8-18 association or savings bank under Subtitle B or C, Title 3, or
8-19 under similar laws of another state if the deposits of the savings
8-20 association from another state are insured by the Federal Deposit
8-21 Insurance Corporation; or
8-22 (B) organized as a federal savings and loan
8-23 association or savings bank under the Home Owners' Loan Act (12
8-24 U.S.C. Section 1461 et seq.), as subsequently amended.
8-25 SECTION 9. Section 341.403, Finance Code, is amended by
8-26 adding Subsections (c) and (d) to read as follows:
8-27 (c) The finance commission may not adopt rules restricting
9-1 advertising or competitive bidding by a license holder regulated by
9-2 the Office of Consumer Credit Commissioner except to prohibit
9-3 false, misleading, or deceptive practices.
9-4 (d) In its rules to prohibit false, misleading, or deceptive
9-5 practices, the finance commission may not include a rule that:
9-6 (1) restricts the use of any medium for advertising;
9-7 (2) restricts the use of a license holder's personal
9-8 appearance or voice in an advertisement;
9-9 (3) relates to the size or duration of an
9-10 advertisement by the license holder; or
9-11 (4) restricts the license holder's advertisement under
9-12 a trade name, unless the trade name is deceptive.
9-13 SECTION 10. Chapter 341, Finance Code, is amended by adding
9-14 Subchapter F to read as follows:
9-15 SUBCHAPTER F. LICENSING AND REGULATION IN GENERAL
9-16 Sec. 341.501. STAGGERED RENEWAL. The finance commission by
9-17 rule may adopt a system under which licenses under this subtitle
9-18 expire on various dates during the year. For the year in which the
9-19 license expiration date is changed, the Office of Consumer Credit
9-20 Commissioner shall prorate license fees on a monthly basis so that
9-21 each license holder pays only that portion of the license fee that
9-22 is allocable to the number of months during which the license is
9-23 valid. On renewal of the license on the new expiration date, the
9-24 total license renewal fee is payable.
9-25 Sec. 341.502. FORM OF LOAN CONTRACT. (a) A contract for a
9-26 loan under Chapter 342, a retail installment transaction under
9-27 Chapter 348, or a home equity loan regulated by the Office of
10-1 Consumer Credit Commissioner, whether in English or Spanish, must
10-2 be written in plain language designed to be easily understood by
10-3 the average consumer. The contract must be printed in an easily
10-4 readable font and type size.
10-5 (b) The finance commission shall adopt rules governing the
10-6 form of contracts to which this section applies. The rules must
10-7 include model contracts complying with the rules and this section.
10-8 (c) A person governed by this section is not required to use
10-9 a model contract. The person, however, may not use a contract
10-10 other than a model contract unless the person has submitted the
10-11 contract to the commissioner. The commissioner shall issue an order
10-12 disapproving the contract if the commissioner determines that the
10-13 contract does not comply with this section or rules adopted under
10-14 this section.
10-15 (d) The person may begin using a contract submitted under
10-16 Subsection (c) on the date it is submitted for approval. If the
10-17 commissioner issues an order disapproving the contract, the person
10-18 may not use the contract after the order takes effect.
10-19 (e) A person may not represent that the commissioner's
10-20 approval or failure to disapprove a contract constitutes an
10-21 endorsement of the contract by the commissioner, the Office of
10-22 Consumer Credit Commissioner, or the finance commission.
10-23 SECTION 11. Subchapter A, Chapter 342, Finance Code, is
10-24 amended by adding Sections 342.007 and 342.008 to read as follows:
10-25 Sec. 342.007. DEFERRED PRESENTMENT TRANSACTION. The finance
10-26 commission shall adopt rules providing for the regulation of
10-27 deferred presentment transactions.
11-1 Sec. 342.008. ATTEMPT TO EVADE LAW. A person who is a party
11-2 to a sale-leaseback transaction or a deferred presentment
11-3 transaction may not evade the application of this subtitle or a
11-4 rule adopted under this section by use of any device, subterfuge,
11-5 or pretense.
11-6 SECTION 12. Section 342.101(c), Finance Code, is amended to
11-7 read as follows:
11-8 (c) On the filing of each license application, the applicant
11-9 shall pay to the commissioner for the license's year of issuance a
11-10 license fee in an amount determined as provided by Section 14.107
11-11 [of:]
11-12 [(1) $100 if the license is granted not later than
11-13 June 30; or]
11-14 [(2) $50 if the license is granted after June 30].
11-15 SECTION 13. Section 342.154, Finance Code, is amended to read
11-16 as follows:
11-17 Sec. 342.154. ANNUAL LICENSE FEE. [(a)] Not later than
11-18 December 1, a license holder shall pay to the commissioner for each
11-19 license held an annual fee for the year beginning the next January
11-20 1, in an amount determined as provided by Section 14.107.
11-21 [(b) The annual fee for a license under this chapter is $200
11-22 except that if, on September 30 preceding the date on which the
11-23 annual fee is due, the gross unpaid balance of loans regulated
11-24 under this chapter in the office for which the license is issued is
11-25 $100,000 or less, the annual fee is $100.]
11-26 SECTION 14. Chapter 348, Finance Code, is amended by adding
11-27 Subchapter F to read as follows:
12-1 SUBCHAPTER F. LICENSING; ADMINISTRATION OF CHAPTER
12-2 Sec. 348.501. LICENSE REQUIRED. (a) A person may not act as
12-3 a holder under this chapter unless the person:
12-4 (1) is an authorized lender or a credit union; or
12-5 (2) holds a license issued under this chapter.
12-6 (b) A person may not use any device, subterfuge, or pretense
12-7 to evade the application of this section.
12-8 Sec. 348.502. APPLICATION REQUIREMENTS. (a) The application
12-9 for a license under this chapter must:
12-10 (1) be under oath;
12-11 (2) identify the applicant's principal parties in
12-12 interest; and
12-13 (3) contain other relevant information that the
12-14 commissioner requires.
12-15 (b) On the filing of a license application, the applicant
12-16 shall pay to the commissioner:
12-17 (1) an investigation fee of $200; and
12-18 (2) for the license's year of issuance, a license fee
12-19 in an amount determined as provided by Section 14.107.
12-20 Sec. 348.503. INVESTIGATION OF APPLICATION. On the filing of
12-21 an application and payment of the required fees, the commissioner
12-22 shall conduct an investigation to determine whether to issue the
12-23 license.
12-24 Sec. 348.504. APPROVAL OR DENIAL OF APPLICATION. (a) The
12-25 commissioner shall approve the application and issue to the
12-26 applicant a license under this chapter if the commissioner finds
12-27 that:
13-1 (1) the financial responsibility, experience,
13-2 character, and general fitness of the applicant are sufficient to:
13-3 (A) command the confidence of the public; and
13-4 (B) warrant the belief that the business will be
13-5 operated lawfully and fairly, within the purposes of this chapter;
13-6 and
13-7 (2) the forms and contracts to be used by the
13-8 applicant are appropriate and adequate to protect the interests of
13-9 retail buyers.
13-10 (b) If the commissioner does not find the eligibility
13-11 requirements of Subsection (a), the commissioner shall notify the
13-12 applicant.
13-13 (c) If an applicant requests a hearing on the application
13-14 not later than the 30th day after the date of notification under
13-15 Subsection (b), the applicant is entitled to a hearing not later
13-16 than the 60th day after the date of the request.
13-17 (d) The commissioner shall approve or deny the application
13-18 not later than the 60th day after the date of the filing of a
13-19 completed application with payment of the required fees, or if a
13-20 hearing is held, after the date of the completion of the hearing on
13-21 the application. The commissioner and the applicant may agree to a
13-22 later date in writing.
13-23 Sec. 348.505. DISPOSITION OF FEES ON DENIAL OF APPLICATION.
13-24 If the commissioner denies the application, the commissioner shall
13-25 retain the investigation fee and shall return to the applicant the
13-26 license fee submitted with the application.
13-27 Sec. 348.506. ANNUAL LICENSE FEE. Not later than December 1,
14-1 a license holder shall pay to the commissioner for each license
14-2 held an annual fee for the year beginning the next January 1, in an
14-3 amount determined as provided by Section 14.107.
14-4 Sec. 348.507. EXPIRATION OF LICENSE ON FAILURE TO PAY ANNUAL
14-5 FEE. If the annual fee for a license is not paid before the 16th
14-6 day after the date on which the written notice of delinquency of
14-7 payment has been given to the license holder, the license expires
14-8 on the later of:
14-9 (1) that day; or
14-10 (2) December 31 of the last year for which an annual
14-11 fee was paid.
14-12 Sec. 348.508. LICENSE SUSPENSION OR REVOCATION. After notice
14-13 and a hearing the commissioner may suspend or revoke a license if
14-14 the commissioner finds that:
14-15 (1) the license holder failed to pay the annual
14-16 license fee, an examination fee, an investigation fee, or another
14-17 charge imposed by the commissioner;
14-18 (2) the license holder, knowingly or without the
14-19 exercise of due care, violated this chapter or a rule adopted or
14-20 order issued under this chapter; or
14-21 (3) a fact or condition exists that, if it had existed
14-22 or had been known to exist at the time of the original application
14-23 for the license, clearly would have justified the commissioner's
14-24 denial of the application.
14-25 Sec. 348.509. REINSTATEMENT OF SUSPENDED LICENSE; ISSUANCE
14-26 OF NEW LICENSE AFTER REVOCATION. The commissioner may reinstate a
14-27 suspended license or issue a new license on application to a person
15-1 whose license has been revoked if at the time of the reinstatement
15-2 or issuance no fact or condition exists that clearly would have
15-3 justified the commissioner's denial of an original application for
15-4 the license.
15-5 Sec. 348.510. SURRENDER OF LICENSE. A license holder may
15-6 surrender a license issued under this chapter by delivering to the
15-7 commissioner:
15-8 (1) the license; and
15-9 (2) a written notice of the license's surrender.
15-10 Sec. 348.511. EFFECT OF LICENSE SUSPENSION, REVOCATION, OR
15-11 SURRENDER. (a) The suspension, revocation, or surrender of a
15-12 license issued under this chapter does not affect the obligation of
15-13 a contract between the license holder and a retail buyer entered
15-14 into before the suspension, revocation, or surrender.
15-15 (b) Surrender of a license does not affect the license
15-16 holder's civil or criminal liability for an act committed before
15-17 surrender.
15-18 Sec. 348.512. TRANSFER OR ASSIGNMENT OF LICENSE. A license
15-19 may be transferred or assigned only with the approval of the
15-20 commissioner.
15-21 Sec. 348.513. ADOPTION OF RULES. (a) The finance commission
15-22 may adopt rules to enforce this chapter.
15-23 (b) The commissioner shall recommend proposed rules to the
15-24 finance commission.
15-25 Sec. 348.514. EXAMINATION; ACCESS TO RECORDS. (a) At the
15-26 times the commissioner considers necessary, the commissioner or the
15-27 commissioner's representative shall:
16-1 (1) examine each place of business of each license
16-2 holder; and
16-3 (2) investigate the license holder's transactions and
16-4 records, including books, accounts, papers, and correspondence, to
16-5 the extent the transactions and records pertain to the business
16-6 regulated under this chapter.
16-7 (b) The license holder shall:
16-8 (1) give the commissioner or the commissioner's
16-9 representative free access to the license holder's office, place of
16-10 business, files, safes, and vaults; and
16-11 (2) allow the commissioner or the commissioner's
16-12 representative to make a copy of an item that may be investigated
16-13 under Subsection (a)(2).
16-14 (c) During an examination the commissioner or the
16-15 commissioner's representative may administer oaths and examine any
16-16 person under oath on any subject pertinent to a matter that the
16-17 commissioner is authorized or required to consider, investigate, or
16-18 secure information about under this chapter.
16-19 (d) Information obtained under this section is confidential.
16-20 (e) A license holder's violation of Subsection (b) is a
16-21 ground for the suspension or revocation of the license.
16-22 (f) An examination of a license holder's place of business
16-23 may be made only:
16-24 (1) after advance notice; and
16-25 (2) during normal business hours.
16-26 Sec. 348.515. GENERAL INVESTIGATION. To discover a violation
16-27 of this chapter or to obtain information required under this
17-1 chapter, the commissioner or the commissioner's representative may
17-2 investigate the records, including books, accounts, papers, and
17-3 correspondence, of a person, including a license holder, who the
17-4 commissioner has reasonable cause to believe is violating this
17-5 chapter, regardless of whether the person claims to not be subject
17-6 to this chapter.
17-7 Sec. 348.516. PAYMENT OF EXAMINATION COSTS AND
17-8 ADMINISTRATION EXPENSES. A license holder shall pay to the
17-9 commissioner an amount determined as provided by Section 14.107 and
17-10 assessed by the commissioner to cover the direct and indirect costs
17-11 of an examination and a proportionate share of general
17-12 administrative expenses.
17-13 Sec. 348.517. LICENSE HOLDER'S RECORDS. (a) A license
17-14 holder shall maintain a record of each retail installment
17-15 transaction made under this chapter as is necessary to enable the
17-16 commissioner to determine whether the license holder is complying
17-17 with this chapter.
17-18 (b) A license holder shall keep the record until the later
17-19 of:
17-20 (1) the third anniversary of the date the last payment
17-21 was made on the retail installment transaction; or
17-22 (2) the second anniversary of the date on which the
17-23 final entry is made in the record.
17-24 (c) A record described by Subsection (a) must be prepared
17-25 in accordance with accepted accounting practices.
17-26 (d) The commissioner shall accept a license holder's system
17-27 of records if the system discloses the information reasonably
18-1 required under Subsection (a).
18-2 (e) A license holder shall keep each obligation signed by a
18-3 retail buyer at an office in this state designated by the license
18-4 holder unless the obligation is transferred under an agreement that
18-5 gives the commissioner access to the obligation.
18-6 Sec. 348.518. SHARING OF INFORMATION. To ensure consistent
18-7 enforcement of law and minimization of regulatory burdens, the
18-8 commissioner and the Texas Department of Transportation may share
18-9 information, including criminal history information, relating to a
18-10 person licensed under this chapter. Information otherwise
18-11 confidential remains confidential after it is shared under this
18-12 section.
18-13 SECTION 15. Section 371.055, Finance Code, is amended to read
18-14 as follows:
18-15 Sec. 371.055. FEES; PROOF OF INSURANCE. An applicant must
18-16 submit with the application:
18-17 (1) an investigation fee of:
18-18 (A) $500 if the applicant does not hold a
18-19 license; or
18-20 (B) $250 if the application:
18-21 (i) is for an additional license for a
18-22 separate location; or
18-23 (ii) involves substantially identical
18-24 principals and owners of a licensed pawnshop at a separate
18-25 location;
18-26 (2) an annual fee in an amount determined as provided
18-27 by Section 14.107 [of $100]; and
19-1 (3) proof of general liability and fire insurance in a
19-2 reasonable amount and form required by the commissioner.
19-3 SECTION 16. Section 371.064(a), Finance Code, is amended to
19-4 read as follows:
19-5 (a) Not later than December 1, a pawnbroker shall pay to the
19-6 commissioner for each license held an annual fee in an amount
19-7 determined as provided by Section 14.107 [of $125] for the year
19-8 beginning the next January 1.
19-9 SECTION 17. Section 411.095(a), Government Code, is amended
19-10 to read as follows:
19-11 (a) The consumer credit commissioner is entitled to obtain
19-12 from the department criminal history record information that
19-13 relates to a person who is[:]
19-14 [(1)] an applicant for or holder of a license under
19-15 Chapter 348 or 371, Finance Code[; or]
19-16 [(2) the holder of a license under that Act].
19-17 SECTION 18. Section 371.065, Finance Code, is repealed.
19-18 SECTION 19. Sections 348.401 and 348.402, Finance Code, are
19-19 repealed.
19-20 SECTION 20. This Act takes effect September 1, 2001, except:
19-21 (1) Section 19 of this Act takes effect September 1,
19-22 2002; and
19-23 (2) the requirement that a person hold a license under
19-24 Subchapter F, Chapter 348, Finance Code, as added by this Act,
19-25 applies only on and after September 1, 2002.