Texas § FI.398.005 - ADMINISTRATION OF CHAPTER
Full text of Texas The Texas Constitution § FI.398.005 — ADMINISTRATION OF CHAPTER, with citation guidance and answers to common questions.
§ FI.398.005. ADMINISTRATION OF CHAPTER
ADMINISTRATION OF CHAPTER; RULEMAKING. (a) The Office of Consumer Credit Commissioner shall administer, implement, and enforce this chapter. (b) Except as provided by Subsection (d), the Office of Consumer Credit Commissioner may: (1) bring enforcement actions for: (A) violations of rules adopted under Subsection (c); (B) failures to make disclosures required by Section 398.051 ; or (C) failures to register as required by Section 398.053 ; (2) terminate or suspend registrations; and (3) assess civil penalties. (c) The Finance Commission of Texas shall adopt rules applicable to providers and commercial sales-based financing brokers that identify unlawful, unfair, deceptive, or abusive acts or practices related to a transaction subject to this chapter. Rules adopted under this subsection must identify and prohibit specific acts or practices by providers or brokers that: (1) the commission considers unfair because: (A) the act or practice causes or is likely to cause substantial injury to a recipient that the recipient cannot reasonably avoid; and (B) the injury outweighs the benefits to recipients or to market competition; (2) are material acts or practices that will or likely will mislead a recipient who, given the circumstances, has a reasonable interpretation of the act or practice; (3) materially interfere with a recipient's ability to understand a term or condition of a commercial sales-based financing transaction; or (4) take unreasonable advantage of: (A) a recipient's lack of understanding of the material risks, costs, or conditions of the commercial sales-based financing transaction; or (B) a recipient's inability to protect the recipient's interest in selecting or using a commercial sales-based financing product. (d) The Finance Commission of Texas may not adopt a maximum annual percentage rate, finance charge, or fee for commercial sales-based financing transactions. Added by Acts 2025, 89th Leg., R.S., Ch. 723 (H.B. 700 ), Sec. 1, eff. September 1, 2025. SUBCHAPTER B. REGULATION AND DISCLOSURE REQUIREMENTS
Frequently Asked Questions About Texas § FI.398.005
What does The Texas Constitution § FI.398.005 cover?
Section FI.398.005 ("ADMINISTRATION OF CHAPTER") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § FI.398.005?
A common citation format is "The Texas Constitution § FI.398.005" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § FI.398.005 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.