Tex. Fin. Code Section 341.405
Penalty for Making Illegal Offer

(a)

A person commits an offense if the person violates Section 341.404 (Prohibited Acts Relating to a Loan). An offense under that section is a Class C misdemeanor.

(b)

A person who violates Section 341.404 (Prohibited Acts Relating to a Loan):

(1)

may be prosecuted for the offense; or

(2)

may be held liable for:

(A)

the penalties under Chapter 349 (Penalties and Liabilities); and

(B)

civil penalties assessed by the consumer credit commissioner.

(c)

A person is not subject to both prosecution and the penalties described by Subsection (b)(2).

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.

Source: Section 341.405 — Penalty for Making Illegal Offer, https://statutes.capitol.texas.gov/Docs/FI/htm/FI.341.htm#341.405 (accessed Jun. 5, 2024).

341.001
Definitions 341.002
Computation of Month 341.101
Consumer Credit Commissioner 341.102
Regulation of Banks 341.103
Regulation of Savings Institutions, Licensed Mortgage Brokers and Loan Officers, and Registered Mortgage Bankers and Licensed Loan Officers 341.104
Regulation of Credit Unions 341.201
Definitions of Indexes 341.202
Revision of Ceiling or Bracket 341.203
Computation of Revised Ceiling or Bracket 341.204
Publication of Revised Ceiling, Bracket, or Index Information 341.301
Information About Advertisers 341.401
Discrimination Prohibited 341.402
Penalties for Prohibited Discrimination 341.403
False, Misleading, or Deceptive Advertising 341.404
Prohibited Acts Relating to a Loan 341.405
Penalty for Making Illegal Offer 341.406
When Act or Omission Not Violation 341.501
Staggered Renewal 341.502
Form of Loan Contract and Related Documents 341.503
Work from Remote Locations 341.601
Definition 341.602
State-licensed Residential Mortgage Loan Originator Recovery Fund 341.603
Funding 341.604
Statute of Limitations 341.605
Procedure for Recovery 341.606
Recovery Limits 341.607
Revocation of License for Payment from Fund 341.608
Subrogation 341.609
Failure to Comply with Subchapter or Rule Adopted by Finance Commission 341.610
Rulemaking

Accessed:
Jun. 5, 2024

§ 341.405’s source at texas.gov

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Location: https://texas.public.law/statutes/tex._fin._code_section_341.405

Original Source: Section 341.405 — Penalty for Making Illegal Offer, https://statutes.capitol.texas.gov/Docs/FI/htm/FI.341.htm#341.405 (last accessed Jun. 5, 2024).