Texas § 393.407 PAYMENT OF MONEY IN SURETY ACCOUNT TO CREDIT SERVICES ORGANIZATION.

Texas Statutes

§ 393.407 — PAYMENT OF MONEY IN SURETY ACCOUNT TO CREDIT SERVICES ORGANIZATION.

Texas § 393.407

Code FIFinance Code

This text of Texas § 393.407 (PAYMENT OF MONEY IN SURETY ACCOUNT TO CREDIT SERVICES ORGANIZATION.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Finance Code Code Ann. § 393.407 (2026).

Text

Sec. 393.407. PAYMENT OF MONEY IN SURETY ACCOUNT TO CREDIT SERVICES ORGANIZATION.

(a)A depository may not pay money in a surety account to the credit services organization that established the account or a representative of the organization unless the organization or representative presents a statement issued by the secretary of state indicating that the requirement of Section 393.406 has been satisfied in relation to the account.

(b)The secretary of state may conduct an investigation and require information to be submitted as necessary to enforce this section. SUBCHAPTER F. CRIMINAL PENALTIES AND CIVIL REMEDIES

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Sec. 393.407. PAYMENT OF MONEY IN SURETY ACCOUNT TO CREDIT SERVICES ORGANIZATION. (a) A depository may not pay money in a surety account to the credit services organization that established the account or a representative of the organization unless the organization or representative presents a statement issued by the secretary of state indicating that the requirement of Section 393.406 has been satisfied in relation to the account.
(b) The secretary of state may conduct an investigation and require information to be submitted as necessary to enforce this section.
SUBCHAPTER F. CRIMINAL PENALTIES AND CIVIL REMEDIES