Words and terms used in this chapter that are defined in Texas
Finance Code, Chapter 393 have the same meanings as defined in Chapter
393. The following words and terms, when used in this subchapter,
will have the following meanings, unless the context clearly indicates
otherwise.
(1) Commissioner--The Consumer Credit Commissioner
of the State of Texas.
(2) Interpretation letter--A formal interpretation
of Texas Finance Code, Title 4 made by the commissioner and approved
by the Finance Commission under Texas Finance Code, §14.108.
(3) Licensee--Any person who has been issued a credit
access business license pursuant to Texas Finance Code, Chapter 393.
(4) Multiple payment auto title loan--An auto title
loan that is not a single payment auto title loan.
(5) Multiple payment payday loan--A payday loan that
is not a single payment payday loan.
(6) OCCC--The Office of Consumer Credit Commissioner
of the State of Texas.
(7) Single payment auto title loan--An auto title loan
for which the entire principal balance, interest, and all fees required
under the terms of the transaction, including any fees required to
be paid to a credit access business, are due in a single payment.
(8) Single payment payday loan--A payday loan for which
the entire principal balance, interest, and all fees required under
the terms of the transaction, including any fees required to be paid
to a credit access business, are due in a single payment.
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Source Note: The provisions of this §83.1002 adopted to be effective November 10, 2011, 36 TexReg 7518; amended to be effective January 7, 2016, 41 TexReg 112; amended to be effective January 5, 2017, 41 TexReg 10563 |