The Finance Commission of Texas (the commission) proposes to amend §27.1 concerning application processing times and notices to applicants. The amendment removes sale of checks licenses from the application of this section. A new rule regarding sale of checks license applications is proposed in this issue of the Texas Register.

This change will place the sale of checks rule in the same chapter as other rules pertaining to sale of checks.

Stephanie Newberg, Deputy Commissioner, Texas Department of Banking, has determined that, for each year of the first five years that the section is in effect, there will be no fiscal implication for state or local government as a result of enforcing or administering the section as amended.

Ms. Newberg also has determined that, for each of the first five years the section as amended is in effect, the public benefit anticipated as a result of the adoption of this section will be convenient and consistent placement of rules. No economic cost will be incurred by a person required to comply with this section, and there will be no deleterious effect on small businesses.

Comments on the proposed amendment may be submitted to Steven L. Martin, Assistant General Counsel, Texas Department of Banking, 2601 North Lamar Boulevard, Austin, Texas 78705-4294, or by email to: steve.martin@banking.state.tx.us.

The amendment is proposed pursuant to rule-making authority under Finance Code, §152.102(a), which authorizes the commission to adopt rules necessary to enforce and administer Finance Code, Chapter 152 "including rules relating to an application of a license." Additional authority and applicable requirements are provided by Government Code, §2005.003.

Finance Code, Chapter 152, is affected by the proposed amendment.