Texas Administrative Code
Title 7 - BANKING AND SECURITIES
Part 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER
Chapter 83 - REGULATED LENDERS AND CREDIT ACCESS BUSINESSES
Subchapter A - RULES FOR REGULATED LENDERS
Division 2 - AUTHORIZED ACTIVITIES
Section 83.204 - Multiple Licenses
Universal Citation: 7 TX Admin Code § 83.204
Current through Reg. 50, No. 13; March 28, 2025
(a) Definitions. The words "made," "negotiated," and "collected" as used in Texas Finance Code, § 342.052(b) are to be construed as follows.
(1) Made or make--Loans are "made" by the office or offices where either the credit decision is made or the cash advance is disbursed.
(2) Negotiated or arranged; negotiate or arrange--Loans are "negotiated" or "arranged" in the office or offices that received any information preliminary to a credit decision on a prospective borrower or received the executed application, agreement, or other necessary loan documentation.
(3) Collected or collect--Loans are "collected" in the office or offices from which attempts are made to collect past-due payments from the borrowers under a loan. The mere receipt and accounting of payments does not constitute "collection."
(b) Application. Any office making, negotiating, arranging, or collecting loans must be licensed. For example, if a lender receives and reviews loan applications at one office, makes the loan decision at another office, funds the loan at a third, and collects past-due payments from another, all of these offices must be licensed. On the other hand, an office that merely receives, records, accounts for, and processes payments need not be licensed.
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