Rule detail : 232872

TX BANK Vehicle Installment Sales

TX BANK issued final rules from the Office of Consumer Credit Commissioner regarding motor vehicle installment sales to implement changes found needed during its review.
Code Amendments
Make amendments to TX FIN 7-5-84-F-84.602, Filing of new applications; TX FIN 7-5-84-F-84.608, Processing of application; and TX FIN 7-5-84-F-84.611, Fees.
TX FIN 7-5-84-F-84.613, Denial, suspension, revocation based on criminal history.
TX FIN 7-5-84-F-84.616, License display; TX FIN 7-5-84-F-84.617 License term, renewal, and expiration; and TX FIN 7-5-84-G-84.705 Unclaimed funds.
Also TX FIN 7-5-84-G-84.707, TX FIN 7-5-84-G-84.708, TX BANK 7-5-84-G-84.709, re files required; TX FIN 7-5-84-H-84.802, regarding non-standard contract filing.
Further, TX FIN 7-5-84-H-84.806, Format; TX FIN 7-5-84-H-84.808, Model clauses.
TX FIN 7-5-84-H-84.809, Model contracts; TX FIN 7-5-84-G-84.710 Annual report.
Rule Adoption
Installment sale rule amendments are adopted without changes to the proposed text.
Except for TX FIN 7-5-84-F-84.602, TX FIN 7-5-84-G-84.707, TX FIN 7-5-84-G-84.708, and TX FIN 7-5-84-G-84.709, which will be republished with changes.
Effectiveness
The rule amendments on motor vehicle installment sales are effective Jan. 1, 2025.

Regulators	TX BANK
Entity Types	Bank; Thrift
Reference	TX SR, RF, 11/8/2024; Citation: TX FIN 7-5-84-F-84.602, 7-5-84-F-84.608, 7-5-84-F-84.611, 7-5-84-F-84.613, 7-5-84-F-84.616, 7-5-84-F-84.617, 7-5-84-G-84.705, 7-5-84-G-84.705, 7-5-84-G-84.707, 7-5-84-G-84.708, 7-5-84-G-84.709, 7-5-84-H-84.802, 7-5-84-H-84.806, 7-5-84-H-84.808, 7-5-84-H-84.809;
Functions	Compliance; Financial; Legal; Operations; Registration/Licensing; Reporting; Sales Practices
Countries	United States of America
Category
State
Products	Banking; Loan
Regions	Am
Rule Type	Final
Rule Date	11/8/2024
Effective Date	1/1/2025
Rule Id	232872
Linked to	N/A
Reg. Last Update	11/8/2024
Report Section	US Banking