Texas § 393.607 APPROVAL OR DENIAL OF APPLICATION.

Texas Statutes

§ 393.607 — APPROVAL OR DENIAL OF APPLICATION.

Texas § 393.607

Code FIFinance Code

This text of Texas § 393.607 (APPROVAL OR DENIAL OF APPLICATION.) 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. § 393.607 (2026).

Text

Sec. 393.607. APPROVAL OR DENIAL OF APPLICATION.

(a)The commissioner shall approve the application and issue to the applicant a license to operate as a credit access business for purposes of engaging in the activity to which this subchapter applies if the commissioner finds that:

(1)the financial responsibility, experience, character, and general fitness of the applicant are sufficient to:

(A)command the confidence of the public; and

(B)warrant the belief that the business will be operated lawfully and fairly, within the purposes of this subchapter; and

(2)the applicant has net assets of at least $25,000 available for the operation of the business as determined in accordance with Section 393.611 .

(b)If the commissioner does not find the eligibility requirements of Subsection (a) hav

Free access — add to your briefcase to read the full text and ask questions with AI

Sec. 393.607. APPROVAL OR DENIAL OF APPLICATION. (a) The commissioner shall approve the application and issue to the applicant a license to operate as a credit access business for purposes of engaging in the activity to which this subchapter applies if the commissioner finds that:
(1) the financial responsibility, experience, character, and general fitness of the applicant are sufficient to:
(A) command the confidence of the public; and
(B) warrant the belief that the business will be operated lawfully and fairly, within the purposes of this subchapter; and
(2) the applicant has net assets of at least $25,000 available for the operation of the business as determined in accordance with Section 393.611 .
(b) If the commissioner does not find the eligibility requirements of Subsection (a) have been met, the commissioner shall notify the applicant.
(c) If an applicant requests a hearing on the application not later than the 30th day after the date of notification under Subsection (b), the applicant is entitled to a hearing not later than the 30th day after the date of the request.
(d) The commissioner shall approve or deny the application not later than the 30th day after the date of the filing of a completed application with payment of the required fees, or if a hearing is held, after the date of the completion of the hearing on the application. The commissioner and the applicant may agree to a later date in writing.