Texas Finance Code 351.008 – Examination of Lenders; Access to Records
(a) The commissioner or the commissioner’s representative shall, at the times the commissioner or the representative considers necessary:
(1) examine each place of business of each property tax lender; and
(2) investigate the lender’s transactions, including loans, and records, including books, accounts, papers, and correspondence, to the extent the transactions and records pertain to the business regulated under this chapter and Sections 32.06 and 32.065, Tax Code.
(b) The property tax lender shall:
(1) give the commissioner or the commissioner’s representative free access to the lender’s office, place of business, files, safes, and vaults; and
(2) allow the commissioner or the representative to make a copy of an item that may be investigated under Subsection (a)(2).
Terms Used In Texas Finance Code 351.008
- 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) During an examination, the commissioner or the commissioner’s representative may administer oaths and examine any person under oath on any subject pertinent to a matter that the commissioner or the representative is authorized or required to consider, investigate, or secure information about under this chapter or § 32.06 or 32.065, Tax Code.
(d) Information obtained under this section is confidential.
(e) A property tax lender’s violation of Subsection (b) is a ground for the suspension or revocation of the lender’s license.