| (a) Definitions. The words "make," "negotiate," "arrange,"
and "collect" as used in Texas Finance Code, §342.053(b) are
to be construed according to the definitions contained in §83.204(a)
of this title (relating to Multiple Licenses).
(b) Application. Any office, wherever located, making,
negotiating, arranging, or collecting loans by mail or online must
be licensed. For example, if a lender receives and reviews loan applications
at one office, makes the loan decision at another office, funds the
loan at a third, and collects past-due payments from another, all
of these offices involved in lending by mail or online must be licensed.
On the other hand, an office that merely receives, records, accounts
for, and processes payments need not be licensed.
(c) Authorized lenders. The following entities with
offices located outside of Texas may make loans by mail or online
to Texas residents and are considered to meet the definition of authorized
lender as contained in §83.102 of this title (relating to Definitions):
(1) a person who has obtained a regulated loan license
from the OCCC;
(2) a bank, savings bank, savings and loan association,
or credit union doing business under the laws of this state, another
state, or the United States;
(3) a bank, savings bank, or savings and loan association
chartered in another state and insured by the Federal Deposit Insurance
Corporation; and
(4) a credit union chartered in another state and insured
through the National Credit Union Share Insurance Fund.
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| Source Note: The provisions of this §83.205 adopted to be effective January 4, 2007, 31 TexReg 10763; amended to be effective November 4, 2010, 35 TexReg 9698; amended to be effective May 12, 2022, 47 TexReg 2738 |
