US Laws, Codes, Statutes & Cases

FINANCE CODE

CHAPTER 350. REQUIREMENTS AND LIMITATIONS APPLICABLE TO CONSUMER 
CREDITORS NOT LICENSED OR REGISTERED UNDER THIS TITLE


	§ 350.001. APPLICABILITY.  (a) This chapter applies to a 
person who extends credit primarily for personal, family, or 
household use and not for a business, commercial, investment, or 
agricultural purpose.  For the purposes of this chapter, credit 
means the right granted to a debtor to defer payment of debt or to 
incur debt and defer its payment.  A creditor is subject to this 
chapter if the creditor charges a finance charge or extends credit 
payable in one or more installments.
	(b)  This chapter does not apply to a person who is:                           
		(1)  licensed or registered under this title or Title 
3; or                 
		(2)  exempt from licensing or registration under this 
title.                

Added by Acts 2005, 79th Leg., ch. 1018, § 1.04, eff. Sept. 1, 
2005.     


	§ 350.002. PREVENTION OF EVASION.  A person may not use 
any device, subterfuge, or pretense to evade the application of 
this section.

Added by Acts 2005, 79th Leg., ch. 1018, § 1.04, eff. Sept. 1, 
2005.     


	§ 350.003. COMPLIANCE WITH FAIR TRADE PRACTICES ACT.  A 
creditor who is not licensed, registered, or otherwise exempt under 
this title must comply with the requirements of 15 U.S.C. Section 
45.  An enforcement action to compel compliance under this section 
may include an action to enjoin illegal activities or order 
restitution.

Added by Acts 2005, 79th Leg., ch. 1018, § 1.04, eff. Sept. 1, 
2005.     


	§ 350.004. PENALTIES.  Chapter 349 applies to violations 
of this chapter and the rules adopted under this chapter.

Added by Acts 2005, 79th Leg., ch. 1018, § 1.04, eff. Sept. 1, 
2005.