| (a) Issuing interpretations. The Finance Commission
and Credit Union Commission may on their own motion issue interpretations
of Section 50(a)(5) - (7), (e) - (p), and (t), Article XVI of the
Texas Constitution. The commissions will propose and adopt interpretations
in accordance with the rulemaking requirements of Texas Government
Code, Chapter 2001, Subchapter B.
(b) Agency recommendations. The Office of Consumer
Credit Commissioner, Department of Banking, or Department of Savings
and Mortgage Lending may recommend proposed interpretations to the
Finance Commission. The Credit Union Department may recommend proposed
interpretations to the Credit Union Commission. The four agencies
may seek informal input from stakeholders and the other agencies before
recommending a proposed interpretation to the commissions.
(c) Informal request for interpretation. A person may
submit an informal request for an interpretation of Section 50(a)(5)
- (7), (e) - (p), or (t), Article XVI of the Texas Constitution. An
informal request may be submitted to the Office of Consumer Credit
Commissioner, Department of Banking, Department of Savings and Mortgage
Lending, or Credit Union Department. A request should:
(1) cite the specific provision of the Texas Constitution
to be interpreted;
(2) explain the factual and legal context for the request;
and
(3) explain the requestor's opinion of how the request
should be resolved.
(d) Petition for rulemaking. An interested person may
formally request an interpretation of Section 50(a)(5) - (7), (e)
- (p), or (t), Article XVI of the Texas Constitution by submitting
a petition to initiate rulemaking.
(1) Any petition for the Finance Commission to issue
an interpretation must be submitted to the Office of Consumer Credit
Commissioner and must include the information required by §9.82
of this title (relating to Petitions to Initiate Rulemaking Proceedings).
(2) Any petition for the Credit Union Commission to
issue an interpretation must be submitted to the Credit Union Department
and must include the information required by §97.500 of this
title (relating to Petitions to Initiate Rulemaking Proceedings).
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| Source Note: The provisions of this §151.1 adopted to be effective January 7, 2004, 29 TexReg 83; amended to be effective November 13, 2008, 33 TexReg 9073; amended to be effective November 26, 2020, 45 TexReg 8306 |
