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TITLE 7 | BANKING AND SECURITIES |
PART 5 | OFFICE OF CONSUMER CREDIT COMMISSIONER |
CHAPTER 88 | CONSUMER DEBT MANAGEMENT SERVICES |
SUBCHAPTER C | OPERATIONAL REQUIREMENTS |
RULE §88.305 | Prohibited Acts and Practices |
It is not a prohibited practice for a provider to, as an incidental consequence of managing the trust account and debt obligations, pay an obligation for a consumer that the consumer does not have a sufficient deposit to cover, when no fee is associated with the payment. A payment under these conditions does not constitute lending money to the consumer under Texas Finance Code, §394.212(3). |
Source Note: The provisions of this §88.305 adopted to be effective January 5, 2006, 30 TexReg 8863; amended to be effective January 2, 2014, 38 TexReg 9488 |