| (a) General. A property tax lender may not provide
a false, deceptive, or misleading advertisement or solicitation to
a potential borrower.
(b) False, deceptive, or misleading practices. An advertisement
or solicitation will be considered false, deceptive, or misleading
if the advertisement or solicitation:
(1) fails to contain the notice required by Texas Finance
Code, §351.0023(a) or (b);
(2) fails to fully disclose the terms required by Texas
Finance Code, §351.0023(d) or (e);
(3) fails to clearly and conspicuously disclose the
name of the property tax lender;
(4) offers any rates, terms, or conditions relating
to a property tax loan unless the property tax lender actually makes
a reasonable number of those loans;
(5) makes any representations or statements with reference
to the ease of procuring a loan, the speed with which it may be completed,
the freedom from credit inquiries, or any other implied difference
in service or policy unless the property tax lender will comply with
the representations or statements made;
(6) uses phrases such as "most trusted," "property
tax lawsuit notification," "lowest rates," "lowest costs," "quickest
service," "easy payments," or "repayment in easy installments";
(7) uses "pre-approved," "approved," or any similar
expression, unless the statement or offer is unconditional;
(8) uses the word "fixed" to refer to rates or payments
for a variable-rate transaction or other credit transaction where
the payment will increase; or
(9) indicates or implies that the potential property
tax borrower has been sued or will be sued by the taxing unit or another
party unless the property tax lender has verified that the taxing
unit or another party has sued or will sue within 30 days of when
the advertisement or solicitation is sent.
(c) Name of property tax lender. An advertisement or
solicitation must include the name of the property tax lender. A property
tax lender may only advertise or solicit with the name under which
it is authorized to conduct business under Texas Finance Code, Chapter
351.
(d) No advertisements or solicitations in form of negotiable
instruments or government documents. A property tax lender or its
agents may not distribute or display mailing pieces that have a similarity
or resemblance to a blank counter check; postal or express money order;
U.S. currency, cash, exchange certificate, or any negotiable instrument
whatsoever; or any federal, state, or local government warrant. A
property tax lender may not use an envelope, advertisement, or solicitation
that contains text, a symbol, or other information indicating or implying
that it is from federal, state, or local government.
(e) No use of simulated legal process or documents.
A property tax lender or its agent must not use any simulated legal
process, simulated legal document, or legal form designed to suggest
that legal proceedings have been commenced or completed when in fact
they have not.
(f) No impersonation of law enforcement or government
employees. A property tax lender or its agent may not impersonate
or attempt to impersonate any law enforcement officer or other agent
of federal, state, or local governments.
(g) Both variable-rate and non-variable-rate transactions
in the same advertisement or solicitation. If a property tax lender
offers both variable-rate and non-variable-rate transactions in the
same advertisement or solicitation, a property tax lender must use
the phrases "Fixed Rate" and "Adjustable Rate" (or "Variable Rate")
with equal prominence and must fully and clearly disclose any terms
in accordance with Texas Finance Code, §351.0023.
(h) Annual percentage rate and terms of repayment.
The annual percentage rate and terms of repayment described by Texas
Finance Code, §351.0023(d) - (e) must be calculated and disclosed
in accordance with the Truth in Lending Act, 15 U.S.C. §1664,
Regulation Z, 12 C.F.R. §1026.24, and §89.502(2) of this
title (relating to Definitions).
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