Tex. Fin. Code Section 351.003
Secondary Market Transactions

(a)

Except as provided by Subsection (b), this chapter does not prohibit a property tax lender from receiving compensation from a party other than the property tax loan applicant for the sale, transfer, assignment, or release of rights on the closing of a property tax loan transaction.

(b)

A person may not sell, transfer, assign, or release rights to a property tax loan to a person who is not licensed under Section 351.051 (License Required) or exempt from the application of this chapter under Section 351.051 (License Required)(c).

(c)

The finance commission shall adopt rules to implement this section.

Added by Acts 2007, 80th Leg., R.S., Ch. 1220 (H.B. 2138), Sec. 1, eff. September 1, 2007.

Amended by:

Acts 2013, 83rd Leg., R.S., Ch. 206 (S.B. 247), Sec. 3, eff. May 29, 2013.

Source: Section 351.003 — Secondary Market Transactions, https://statutes.capitol.texas.gov/Docs/FI/htm/FI.351.htm#351.003 (accessed May 18, 2024).

351.001
Short Title 351.003
Secondary Market Transactions 351.004
Affiliated Business Arrangements 351.005
Application of Tax Code 351.006
Enforcement 351.007
Rules 351.008
Examination of Lenders 351.009
General Investigation 351.010
Refusal to Allow Examination or Inspection 351.011
Verification of Net Assets 351.012
Applicability of Chapter 351.0021
Authorized Charges 351.0022
Waiver Prohibited 351.0023
Solicitation of Loans 351.051
License Required 351.052
Issuance of More than One License for Property Tax Lender 351.053
Area of Business 351.054
Notice to Taxing Unit 351.101
Application Requirements 351.102
Bond 351.103
Investigation of Application 351.104
Approval or Denial of Application 351.105
Disposition of Fees on Denial of Application 351.106
License Term 351.151
Name and Place on License 351.152
License Display 351.153
Minimum Assets for License 351.154
License Fee 351.155
Expiration of License on Failure to Pay Fee 351.156
License Suspension or Revocation 351.157
Corporate Charter Forfeiture 351.158
License Suspension or Revocation Filed with Public Records 351.159
Reinstatement of Suspended License 351.160
Surrender of License 351.161
Effect of License Suspension, Revocation, or Surrender 351.162
Moving an Office 351.163
Transfer or Assignment of License 351.164
Reporting Requirement 351.0515
Residential Mortgage Loan Originator License Required 351.1535
Grounds for Refusal to Renew

Accessed:
May 18, 2024

§ 351.003’s source at texas.gov

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Location: https://texas.public.law/statutes/tex._fin._code_section_351.003

Original Source: Section 351.003 — Secondary Market Transactions, https://statutes.capitol.texas.gov/Docs/FI/htm/FI.351.htm#351.003 (last accessed May 18, 2024).