(a) The suspension, revocation, or surrender of a license issued under this subchapter does not affect the obligation of a contract between the license holder and a consumer entered into before the revocation, suspension, or surrender.
(b) Surrender of a license does not affect the license holder’s civil or criminal liability for an act committed before surrender.

Terms Used In Texas Finance Code 393.618

  • Contract: A legal written agreement that becomes binding when signed.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
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