(a) Effect on existing contracts. Revocation, suspension, or surrender of a license does not affect a preexisting contract between a licensee and a borrower, except no interest may be charged or received by the licensee following the revocation, suspension, or surrender of its license. Alternatively, a licensee whose license is revoked or suspended may transfer or sell its accounts to a licensee, which may continue to charge or receive the contracted rate of interest within the authority of Texas Finance Code, Chapter 351.(b) Surrendering to avoid administrative action. A licensee may not surrender a license after an administrative action has been initiated without the written agreement of the OCCC.