Texas Register, Volume 38, Number 35, Pages 5587-5800, August 30, 2013 Page: 5,613
5587-5800 p. ; 28 cm.View a full description of this periodical.
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and that third-party operator sets the amount of the required system
fees. Applicants and RMLOs must pay all required application and
renewal fees, fingerprint processing fees, and any additional amounts
required by the third-party operator.
(d) OCCC reinstatement period and fee. The Finance Com-
mission of Texas sets the RMLO reinstatement fee at $50 for applica-
tions filed with the OCCC. The reinstatement period for OCCC appli-
cants runs from January 1 through the last day of February each year.
2.105. Recovery Fund Fees.
Applicants and RMLOs applying for a license or renewal with the
OCCC must pay a nonrefundable [non-refundable] $25 recovery fund
fee to the OCCC at the time of application and at the time of renewal.
This agency hereby certifies that the proposal has been reviewed
by legal counsel and found to be within the agency's legal author-
ity to adopt.
Filed with the Office of the Secretary of State on August 16, 2013.
TRD-201303467
Leslie L. Pettijohn
Consumer Credit Commissioner
Finance Commission of Texas
Earliest possible date of adoption: September 29, 2013
For further information, please call: (512) 936-7621
SUBCHAPTER B. OPERATIONAL
REQUIREMENTS FOR OFFICE OF CONSUMER
CREDIT COMMISSIONER LICENSEES
7 TAC 2.201, 2.202
These new rules are proposed under Texas Finance Code,
180.004, which authorizes the commission to implement rules
necessary to comply with Chapter 180 and as required to carry
out the intentions of the federal Secure and Fair Enforcement
for Mortgage Licensing Act of 2008 (Pub. L. No. 110-289). Ad-
ditionally, the new rules are also proposed under Texas Finance
Code, 180.061, which authorizes the commission to adopt
rules establishing requirements for conducting background
checks and other activities necessary for participation in the
NMLS.
The statutory provisions affected by the proposed new rules
are contained in Texas Finance Code, Chapter 180, Residential
Mortgage Loan Originators, the Texas Secure and Fair Enforce-
ment for Mortgage Licensing Act of 2009, and Texas Finance
Code, Chapters 342, 347, 348, and 351.
2.201. License Renewal.
(a) Requirements. A license may be renewed if:
(1) the RMLO submits a completed application for renewal
through the NMLS together with the payment of the applicable renewal
application fee;
(2) the OCCC determines that the RMLO continues to meet
the minimum requirements for license issuance, including financial re-
sponsibility, character, and general fitness, as provided in Texas Fi-
nance Code, 180.055, and subsection (d) of this section; and
(3) the RMLO provides satisfactory evidence that the
RMLO has completed the continuing education requirements of Texas
Finance Code, 180.060.(b) Denial. Renewal of a license may be denied for reasons
provided in Texas Finance Code, 180.201.
(c) Additional information. The OCCC may require addi-
tional, clarifying, or supplemental information from any applicant for
the renewal of a license pursuant to Texas Finance Code, Chapter 180
in order to determine compliance with the law.
(d) Additional background checks. After initial issuance of a
license, the OCCC may require additional criminal and credit back-
ground checks in order to determine an RMLO's continuing compli-
ance with the law.
2.202. Maintaining Current Information.
An RMLO must maintain current information with NMLS. An RMLO
must notify the OCCC by filing a license amendment through NMLS,
if any of the following items change:
(1) address;
(2) name; or
(3) employer.
This agency hereby certifies that the proposal has been reviewed
by legal counsel and found to be within the agency's legal author-
ity to adopt.
Filed with the Office of the Secretary of State on August 16, 2013.
TRD-201303468
Leslie L. Pettijohn
Consumer Credit Commissioner
Finance Commission of Texas
Earliest possible date of adoption: September 29, 2013
For further information, please call: (512) 936-7621
CHAPTER 3. STATE BANK REGULATION
SUBCHAPTER E. BANKING HOUSE AND
OTHER FACILITIES
7 TAC 3.91, 3.93
The Finance Commission of Texas (the commission), on behalf
of the Texas Department of Banking (the department), proposes
to amend 3.91, concerning Loan Production Offices (LPOs),
and 3.93, concerning Deposit Production Offices (DPOs), to
conform these sections to recently enacted legislation.
The 83rd Texas Legislature recently enacted H.B. 1664, effec-
tive June 14, 2013 (Acts 2013, 83rd Leg., R.S., Ch. 940). Among
other matters, H.B. 1664 amended Finance Code, 31.002(a)(8)
and 32.204, to conform Texas law regarding state bank LPOs
and DPOs to current federal law applicable to national banks. As
amended, Finance Code, 32.204(a), authorizes a state bank to
establish one or more DPOs or LPOs for the purpose of soliciting
deposit accounts, applications for loans, or equivalent transac-
tions, performing ministerial duties related to such solicitations,
and conducting other activities permitted by rule. Under Finance
Code, 31.002(a)(8), such an office is not a branch, and any
combination of permissible non-branch functions or facilities at
one location does not create a branch.
The commission originally adopted 3.91 to implement the
process of required notice to the banking commissioner re-
garding establishment of an LPO pursuant to Finance Code,
32.204. The commission originally adopted 3.93 as a parityPROPOSED RULES August 30, 2013 38 TexReg 5613
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Texas. Secretary of State. Texas Register, Volume 38, Number 35, Pages 5587-5800, August 30, 2013, periodical, August 30, 2013; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth342086/m1/27/: accessed April 27, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.