Sec. 14.261. ACCEPTANCE OF ASSURANCE.
(a) In administering this chapter, the commissioner may accept assurance of voluntary compliance from a person who is engaging in or has engaged in an act or practice in violation of:
(1) this chapter or a rule adopted under this chapter;
(2) Chapter 393, if the person is a credit access business, or Chapter 394; or
(3) Subtitle B, Title 4, or a rule adopted under Subtitle B, Title 4.
(b) The assurance must be in writing and be filed with the commissioner.
(c) The commissioner may condition acceptance of an assurance of voluntary compliance on the stipulation that the person offering the assurance restore to a person in interest money that may have been acquired by the act or practice described by Subsection (a).
(d) The finance commission may adopt rules to establish the form of the assurance or require certain information be contained in an assurance.
Added by Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 4.05, eff. September 1, 2005.
Amended by:
Acts 2011, 82nd Leg., R.S., Ch. 1302 (H.B. 2594), Sec. 8, eff. January 1, 2012.
Acts 2013, 83rd Leg., R.S., Ch. 63 (H.B. 2548), Sec. 6, eff. September 1, 2013.
Acts 2017, 85th Leg., R.S., Ch. 196 (S.B. 560), Sec. 7, eff. September 1, 2017.
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