Texas Administrative Code

Texas Administrative Code

TITLE 7	BANKING AND SECURITIES
PART 5	OFFICE OF CONSUMER CREDIT COMMISSIONER
CHAPTER 90	CHAPTER 342, PLAIN LANGUAGE CONTRACT PROVISIONS
SUBCHAPTER G	SPANISH DISCLOSURES
RULE §90.706	Legal Document

(a) The agreement entered in the English language is the legal document and determines the rights and obligations of the parties. The disclosures required by federal law entered in the English language are the legal disclosures and determine the disclosure obligations of the licensee.

(b) The licensee may at its option add the following disclaimer:

(1) "NOTICE REGARDING THE TRANSLATION INTO SPANISH: The English document is the legal document and reflects the parties' rights and obligations. The translation into Spanish of the document is provided for the convenience of the Borrower."

(2) Spanish Translation: "AVISO CON RESPECTO A LA TRADUCCIÓN AL ESPAÑOL: El documento en inglés es el documento legal y refleja los derechos y obligaciones de las partes. La traducción al español del documento se ofrece para la conveniencia del Prestatario."

Source Note: The provisions of this §90.706 adopted to be effective August 31, 2006, 31 TexReg 6707; amended to be effective September 9, 2010, 35 TexReg 8104