Texas Register, Volume 37, Number 35, Pages 6819-7008, August 31, 2012 Page: 6,859
6819-7008 p. ; 28 cm.View a full description of this periodical.
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(ii) [()] Business operating plan [Operation Plan].
An applicant must attach a brief narrative to the application explaining:
(1) [(i)] an estimate of how many motor vehicles
will be financed by the applicant each year;
(IH) [(ii)] whether the applicant will hold the re-
tail installment sales contracts or whether the applicant will assign its
retail installment sales contracts;
(III) [(iii)] whether the applicant will only be ac-
cepting contracts from another entity (assignor), and, if so, list the types
of entities; and
(IV) [(iv] whether the collections will occur at
the licensed location.
(iii) Statement of records. Each applicant must pro-
vide a statement of where records of Texas transactions will be main-
tained. If these records will be maintained at a location outside of
Texas, the applicant must acknowledge responsibility for the travel cost
associated with examinations in addition to the assessment fees or agree
to make all records available for examination in Texas.
(E) Consent form. Each applicant must submit a con-
sent form signed by an authorized individual. Electronic signatures
will be accepted in a manner approved by the commissioner. The fol-
lowing are authorized individuals:
(i) If the applicant is a proprietor, each owner mustsign.
(ii
partner must sign.
(ii
officer must sign.) If the applicant is a partnership, each general
i) If the applicant is a corporation, an authorized(iv) If the applicant is a limited liability company, an
authorized member or manager must sign.
(v) If the applicant is a trust or estate, the trustee or
executor, as appropriate, must sign.
(F) [(K)] Statement regarding previous installment
transactions [Regarding Previous Installment Transactions]. Each ap-
plicant must submit a statement that it has or has not made or collected
on any retail installment sales contract or accepted the cash payment
for a motor vehicle in one or more installments from September 1,
2002, to date. This includes any contracts signed by applicant as
seller that are subsequently assigned to a third party. If the applicant
is purchasing another dealership and has permission to operate under
an existing license, as described in 84.604 of this title (relating to
Transfer of License), the statement outlined by this subparagraph is
not required. If the applicant has engaged in any of the referenced
activities, the applicant must provide the following information:
(i) A list of all contracts used to finance the sale of a
motor vehicle in one or more installments (whether the applicant was
the original seller or whether the applicant became a holder). The list
should include the name of the buyer, contract date, vehicle cash price,
amount of down payment, net trade-in amount, total amount financed,
payment frequency (monthly, semi-monthly, bi-weekly, weekly), total
number of payments, and payment amount(s).
(ii) From the list provided by the applicant, copies of
ten (10) complete files. The complete file includes, but is not limited
to, the buyer's order, signed retail installment sales contract, payment
history, certificate of title, and other documents related to that transac-
tion. If there are fewer than ten (10) accounts, provide a complete copy
of each file.() Assumed Name Certificate For any applicant that
does business under an assumed name" as that term is defined in Texas
Business & G .mmer. Code. M, 2 7, an Assumed Name ertificat
must be filed as provided in this su aragraph
ffI# U/nihnecom0rateda .;PERts -Unincoprated ap-
o-4nts usin -r planning to use an a smed name must fle an assumed
name erificate with the couInty ler f the county where the proposed
business is located in compliance with Texas Business & Commeree
ode4 364 1 as a~mendeA An applicant must p-rovide a eepy of the
assumed name certificate that shows the f~lng stamp ofthe county elerk
er, alternatively a certified espy
[{0 Inrporated appicants Inc orated appli-
ants using or planning to use an assumed name must file an assumed
name certificate in compliance with Texas Business & Commeree
Code, - 346 as amended Evidence t f the ,fiing bearing the filing
stamp of the Texas Secretary of State mus be submitted or alterna-
tiely, a certified copy.
(2) Other required filings.
(A) Fingerprints.
(i) (No change.)
(ii) For limited partnerships, if the owners and prin-
cipal parties [Diselosure of Owners and Prineipal Parties] under para-
graph (1)(A)(v)(III)(-a-) [r-t)(G)(i i)(I)] of this section does not produce
a natural person, the applicant must provide a complete set of legible
fingerprints for individuals who are associated with the general partner
as principal parties.
(iii) (No change.)
(iv) For individuals who have previously been
licensed by the OCCC and principal parties of entities currently
licensed, fingerprints are generally not required if the fingerprints
are on record with the OCCC, are less than 10 years old, and have
been processed by both the Texas Department of Public Safety and
the Federal Bureau of Investigation. Upon request, individuals and
principal parties previously licensed by the OCCC may be required
to submit a new set of fingerprints in order to complete the OCCC's
records.
(v) For individuals who have previously submitted
fingerprints to another state agency (e.g., Texas Department of Motor
Vehicles [Transpotation]), fingerprints are still required to be submit-
ted to the OCCC, as per Texas Finance Code, 14.152. Fingerprints
cannot be disclosed to others, except as authorized by Texas Govern-
ment Code, 560.002[ as amended].
(B) (No change.)
(C) Entity documents.
(i) Partnerships. A partnership applicant must sub-
mit a complete and executed copy of the partnership agreement. This
copy must be signed and dated by all partners. If the applicant is a lim-
ited partnership or a limited liability partnership, provide evidence of
filing with the Office of the Texas Secretary of State.
(ii) Corporations. A corporate applicant, domestic
or foreign, must provide the following documents:
(I) a complete copy ofthe certificate of formation
or articles of incorporation, with [articles of incorporation and] any
amendments;
(If> a epy ofthe relevant portions of the bylaws
addressing the required number of direQtors and the required officer
positions for the corporations;PROPOSED RULES August 31, 2012 37 TexReg 6859
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Texas. Secretary of State. Texas Register, Volume 37, Number 35, Pages 6819-7008, August 31, 2012, periodical, August 31, 2012; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth253227/m1/41/: accessed March 29, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.