Current through Reg. 49, No. 38; September 20, 2024
(a) Definitions. The following words and
terms, when used in this section, will have the following meanings, unless the
context clearly indicates otherwise.
(1)
Advisory letter--A letter by the commissioner or an OCCC employee providing an
informal advisory response to a question concerning a provision of law. The
term does not include:
(A) an official
interpretation;
(B) an advisory
bulletin addressed to a body of stakeholders;
(C) instructions for submitting required
information to the OCCC (e.g., annual report instructions);
(D) a report or study provided to the Texas
Legislature or the Finance Commission of Texas; or
(E) a letter sent in connection with an
examination, investigation, license or registration application, complaint, or
enforcement action.
(2)
Agency or OCCC--The Office of Consumer Credit Commissioner of the State of
Texas.
(3) Commissioner--The
Consumer Credit Commissioner of the State of Texas.
(4) Official interpretation --A letter issued
by the commissioner and approved by the Finance Commission of Texas under Texas
Finance Code, §
RSA 14.108
interpreting a provision of Texas Finance Code, Title 4, Subtitle A or B in
light of relevant facts provided by a requestor.
(b) Required information for official
interpretation request. Any person may submit a request for an official
interpretation. All requests must be directed to the commissioner and contain
the following items:
(1) Statement requesting
official interpretation. The requestor must state explicitly that an official
interpretation approved by the Finance Commission of Texas is
desired.
(2) Description of
transaction, facts, and legal issues. The requestor must provide a concise
description of the contemplated transaction or activity, the legal issue
raised, and all facts necessary to reach a conclusion in the matter.
(3) Pending litigation. The requestor must
state whether, to the best of the requestor's knowledge, the issue to be
considered is an issue in pending litigation. Matters in litigation will
ordinarily not be answered.
(4)
Fee. The agency will charge a $500 fee for an official interpretation to
compensate the agency for the expense involved in researching and answering the
request. The requestor should submit the payment of $500 with the request. The
agency may remit a partial or full refund if deemed appropriate. The agency may
waive the fee.
(5) Additional
information. The requestor should identify each provision of law involved,
state the requestor's opinion of how the legal issues should be resolved, and
state the basis for that opinion, including an analysis of any relevant court
decisions or related official interpretations.
(c) Processing an official interpretation
request. Within 10 business days of receiving a valid request under subsection
(b), the agency will file the request with the Texas Register for publication.
Within 31 calendar days of publication in the Texas Register,
any person may submit briefs or proposals pertaining to the request.
(1) Official interpretation not issued. After
publication of a valid request for an official interpretation, the agency may
decline to issue an official interpretation. A summary of the agency's reasons
for deciding not to issue an official interpretation will be published in the
Texas Register.
(2) Approved official interpretation. If the
agency drafts an official interpretation, then the agency will present the
official interpretation to the Finance Commission of Texas for approval. If the
Finance Commission approves the official interpretation, then within. 10
business days of the approval, the agency will file a summary of the official
interpretation with the Texas Register for publication. Copies of official
interpretations will contain a statement of approval and the date of action by
the Finance Commission.
(d) OCCC advisory letters. If the OCCC sends
an advisory letter concerning a provision of Texas Finance Code, Title 4,
Subtitle A or B, then the advisory letter will include the following statement:
"This advisory letter is not an official interpretation approved by the Finance
Commission of Texas. The requirements for requesting an official interpretation
are in Title 7, Section 1.201(b) of the Texas Administrative Code."
