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Home > Title 7 > Part 5 > Chapter 88 >Subchapter C > Rule 88.305
TITLE 7 - BANKING AND SECURITIES
PART 5 - OFFICE OF CONSUMER CREDIT COMMISSIONER
CHAPTER 88 - CONSUMER DEBT MANAGEMENT SERVICES
SUBCHAPTER C - OPERATIONAL REQUIREMENTS
SECTION/RULE §88.305 - Prohibited Acts and Practices
Chapter Review Date 12/17/2021

It is not a prohibited practice for a provider to, as an incidental consequence of managing the trust account and debt obligations, pay an obligation for a consumer that the consumer does not have a sufficient deposit to cover, when no fee is associated with the payment. A payment under these conditions does not constitute lending money to the consumer under Texas Finance Code, §394.212(3).

Source Note: The provisions of this §88.305 adopted to be effective January 5, 2006, 30 TexReg 8863; amended to be effective January 2, 2014, 38 TexReg 9488.

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