Texas Finance Code 353.501 – License Required
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(a) A person may not act as a holder under this chapter unless the person:
(1) is an authorized lender or a credit union; or
(2) holds a license issued under Chapter 348 or this chapter.
(b) A person who is required to hold a license under this chapter must ensure that each office at which retail installment transactions are made, serviced, held, or collected under this chapter is licensed or otherwise authorized to make, service, hold, or collect retail installment transactions in accordance with this chapter and rules implementing this chapter.
Terms Used In Texas Finance Code 353.501
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
(c) A person may not use any device, subterfuge, or pretense to evade the application of this section.