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A BILL TO BE ENTITLED
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AN ACT
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relating to the Office of Consumer Credit Commissioner, the |
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consumer credit commissioner, and the duties of the consumer credit |
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commissioner, including the regulation of credit access |
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businesses. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 14.051, Finance Code, is amended to read |
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as follows: |
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Sec. 14.051. CONSUMER CREDIT COMMISSIONER. (a) The |
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finance commission shall appoint the commissioner. |
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(b) The commissioner: |
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(1) serves at the will of the finance commission; and |
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(2) is subject to orders and directions of the finance |
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commission, including any applicable orders and directions |
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relating to the commissioner's duties under Subchapter E or other |
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provisions of this code. |
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SECTION 2. Section 14.052, Finance Code, is amended to read |
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as follows: |
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Sec. 14.052. DIVISION OF CONSUMER PROTECTION. The division |
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of consumer protection is a division in the office and is under the |
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direction of the commissioner. The mission of the division shall |
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include the development and promotion of the programs described in |
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Section 14.103. |
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SECTION 3. Section 14.101, Finance Code, is amended to read |
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as follows: |
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Sec. 14.101. GENERAL DUTIES OF COMMISSIONER. The |
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commissioner shall enforce Section 339.001, this chapter, |
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Subtitles B and C of Title 4, including rules adopted by the finance |
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commission under those subtitles relating to interest, loans, and |
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certain financed transactions, Chapter 393 with respect to a credit |
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access business, including rules adopted by the finance commission |
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governing credit access businesses, and Chapter 394 in person or |
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through an assistant commissioner, examiner, or other employee of |
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the office. |
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SECTION 4. This Act takes effect September 1, 2015. |