Texas Finance Code 351.003 – Secondary Market Transactions
Current as of: 2024 | Check for updates
|
Other versions
(a) Except as provided by Subsection (b), this chapter does not prohibit a property tax lender from receiving compensation from a party other than the property tax loan applicant for the sale, transfer, assignment, or release of rights on the closing of a property tax loan transaction.
(b) A person may not sell, transfer, assign, or release rights to a property tax loan to a person who is not licensed under § 351.051 or exempt from the application of this chapter under § 351.051(c).
Terms Used In Texas Finance Code 351.003
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Property: means real and personal property. See Texas Government Code 311.005
(c) The finance commission shall adopt rules to implement this section.