Tex.
Fin. Code Section 393.602
Applicability
(a)
This subchapter applies only to a credit services organization that, with respect to a consumer who is located in this state at the time of the transaction, obtains for a consumer or assists a consumer in obtaining an extension of consumer credit in the form of:(1)
a deferred presentment transaction; or(2)
a motor vehicle title loan.(b)
A credit access business may assess fees for its services as agreed to between the parties. A credit access business fee may be calculated daily, biweekly, monthly, or on another periodic basis. A credit access business is permitted to charge amounts allowed by other laws, as applicable. A fee may not be charged unless it is disclosed.(c)
A person may not use a device, subterfuge, or pretense to evade the application of this subchapter. A lawful transaction governed under another statute, including Title 1, Business & Commerce Code, does not violate this subsection and may not be considered a device, subterfuge, or pretense to evade the application of this subchapter.
Source:
Section 393.602 — Applicability, https://statutes.capitol.texas.gov/Docs/FI/htm/FI.393.htm#393.602 (accessed Jun. 5, 2024).
