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TITLE 7BANKING AND SECURITIES
PART 5OFFICE OF CONSUMER CREDIT COMMISSIONER
CHAPTER 83REGULATED LENDERS AND CREDIT ACCESS BUSINESSES
SUBCHAPTER BRULES FOR CREDIT ACCESS BUSINESSES
DIVISION 5OPERATIONAL REQUIREMENTS
RULE §83.5003Examinations

(a) Examination authority. The OCCC may periodically examine each place of business of a licensee and inspect the licensee's transactions and records, including books, accounts, papers, and correspondence, to the extent the transactions and records pertain to business regulated under Texas Finance Code, Chapter 393.

(b) Access to records. A licensee must allow the OCCC to examine the licensee's place of business and make a copy of an item that may be inspected under subsection (a) of this section.

(c) Third-party lender agreements. The OCCC's examination authority includes the authority to review all agreements between a licensee and any third-party lender with which the licensee contracts to provide services under Texas Finance Code, Chapter 393.

(d) Witness statements. In connection with an examination, the OCCC may obtain witness statements that pertain to business regulated under Texas Finance Code, Chapter 393. A witness statement must be signed and dated, and must include an acknowledgment that the statement may be introduced in an enforcement action in which the licensee is a party.

(e) Records statements. In connection with an examination, the OCCC may obtain statements regarding records maintained by the licensee that pertain to business regulated under Texas Finance Code, Chapter 393. A records statement must be signed and dated by a witness, and must include acknowledgments of the following:

  (1) a statement of the witness's positon and duties at the licensee;

  (2) a statement that the witness is familiar with the manner in which records are created and maintained by virtue of duties and responsibilities;

  (3) the number of pages of attached records;

  (4) a statement that the records are original records or exact duplicates of the original records;

  (5) a statement that the records were made at or near the time of each act, event, condition, opinion, or diagnosis set forth;

  (6) a statement the records were made by, or from information transmitted by, persons with knowledge of the matters set forth;

  (7) a statement that the records were kept in the course of regularly conducted business activity;

  (8) a statement that it is the regular practice of the business activity to make the records; and

  (9) an acknowledgment that the statement and the accompanying records may be introduced in an enforcement action in which the licensee is a party.


Source Note: The provisions of this §83.5003 adopted to be effective January 7, 2016, 41 TexReg 112

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